Radian net improves, but market woes hit operating results

NEW YORK (MarketWatch) — Mortgage insurer Radian Group Inc said Monday its first quarter net income rose, based on unrealized investment and accounting gains, to $195.6 million, or $2.44 a share, compared to $113.5 million, or $1.42 a share a year ago. On an operating basis, the company lost $215.2 million, or $2.69 a share as for the quarter. “The continuation of weak housing and credit markets and these conditions have impacted results in our mortgage insurance and financial guaranty businesses,” Chief Executive Officer S.A. Ibrahim said in a press release.
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