NMI Holdings posts 4Q profit

EMERYVILLE, Calif. (AP) _ NMI Holdings Inc. (NMIH) on Wednesday reported fourth-quarter net income of $61.6 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Emeryville, California-based company said it had net income of $1.01. Earnings, adjusted for pretax gains, came to 15 cents per share.

The mortgage insurance company posted revenue of $36.6 million in the period.

For the year, the company reported net income of $65.8 million, or $1.08 per share, swinging to a profit in the period. Revenue was reported as $123.8 million.

NMI Holdings shares have increased 8.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.55, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NMIH at https://www.zacks.com/ap/NMIH


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