Transamerica Corp. reported an almost fivefold increase...
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Transamerica Corp. reported an almost fivefold increase in fourth-quarter profit, citing a record performance by its Los Angeles-based life insurance operations.
The San Francisco company earned $113.6 million, or $1.43 per share, in the three months ended Dec. 31, compared to $22.8 million, or 24 cents per share, for the same period in 1993.
Revenue from continuing operations in the quarter was $1.4 billion, compared to $1.2 billion during the same period a year ago.
Operating income from life insurance operations rose 27% to $70.5 million in the quarter.
All other divisions had increases in operating income in the quarter, except real estate services, which saw a decline to $7 million from $23.2 million in 1993.
For the year, the company earned $427.2 million, or $5.45 per share, up 13% from $377.4 million, or $4.51 per share, in 1993.
Revenue from continuing operations rose 12.5%, to $5.4 billion from $4.8 billion in 1993.
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