Primus Guaranty, Ltd. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2012
Primus Guaranty, Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported net income available to common shares of $263,018,000 or 7.72 per diluted share compared to net income available to common shares of $84,700,000 or $2.21 per diluted share for the same period a year ago. Income from continuing operations, net of tax was $263,572,000 or $7.70 per diluted share compared to $85,929,000 or $2.21 per diluted share for the same period a year ago. Income from continuing operations before income taxes was $263,586,000 compared to $85,939,000 for the same period a year ago. Total revenues were $269,031,000 compared to $91,766,000 for the same period a year ago. Economic results were $5,462,000 against $8,716,000 a year ago. Economic results earnings per GAAP diluted share were $0.26 against $0.23 a year ago. Economic Results book value per common share was $8.98 at March 31, 2012 compared with Economic Results book value per common share of $8.60 at December 31, 2011.