Triad Guaranty Inc (TGIC)

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News for 'TGIC' - (Triad Guaranty reports net loss for Q2)

Aug 17, 2011 (Datamonitor via COMTEX) -- Triad Guaranty Inc. has reported a net loss of $4.4 million, or $0.29 per diluted share, for the second quarter ended June 30, 2011, compared to a net income of $79.12 million, or $5.24 per diluted share, for the second quarter ended June 30, 2010.

Total revenues for the second quarter of 2011 were $46.55 million, compared to $81.9 million for the same quarter of 2010.

Net loss for the first half of 2011 was $9.31 million, or $0.61 per diluted share, compared to a net income of $51.31 million, or $3.4 per diluted share, for the first half of 2010.

Total revenues for the first half of 2011 were $91.76 million, compared to $137.42 million for the same period of 2010.

Ken Jones, President and CEO, said, "We continue to see the impact of the troubled economy on employment and housing. Unemployment remained elevated and housing prices were either stagnant or dropped even further during the second quarter. These economic trends continued to impact our financial results during the second quarter.

"While total risk in default decreased again in the second quarter, the rate of decline slowed from that experien! ced for the past several quarters. While the level of newly reporte d defaults remained elevated, new defaults declined slightly in the second quarter."