Torchmark sees quarterly profit down to 72 cents a share

SAN FRANCISCO (MarketWatch) — Torchmark Corp. on Friday said it expects its third-quarter net income to fall to 72 cents a share from $1.41 a share in third quarter of 2007. The decline is due to a $70 million charge from a writedown of debt issued by AIG, Lehman Brothers and Washington Mutual. Analysts surveyed by FactSet Research are projecting the insurance holding company to earn $1.49 a share in the quarter. Net operating income in the third quarter is projected at $1.51 a share, up from $1.38 a share in the same period last year. Torchmark is scheduled to release third-quarter earnings on Oct. 22 after the market closes.
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Original post by Forextvblog

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