Aflac 4Q profit up 27 percent on higher premiums

posted: 7 DAYS 16 HOURS AGO

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COLUMBUS, Ga. -Disability insurance provider Aflac Inc. said Tuesday its fourth-quarter profit rose 27 percent on a boost in premium revenue.

For the three months ended Dec. 31, the company earned $251 million, or 53 cents per share, compared with $197 million, or 42 cents per share, a year ago. Revenue rose 8 percent to $4.6 billion from $4.3 billion.

Excluding one-time investment losses of 65 cents per share, the company earned $1.18 per share in the latest period.

On average, analysts polled by Thomson Reuters expected earnings of $1.15 per share on revenue of $4.99 billion.

Aflac's U.S. premium income increased 5.2 percent to $1.1 billion.

For the full year, the company earned $1.5 billion, or $3.19 per share, compared with profit of $1.25 billion, or $2.62 per share, during the same period a year prior. Revenue rose to $18.25 billion from $16.55 billion.

The company expects profit growth in 2010 to between $5.24 and $5.56 per share. Analysts expect profit of $5.29 per share.

Also, the company said its board of directors declared the first quarter cash dividend of 28 cents per share, which is payable March 1 to shareholders of record at the close of business on Feb. 16.

Shares of Aflac gained 52 cents to close at $49.70 during the regular trading session. Shares have traded between $10.83 and $52.16 over the last 52 weeks.

2010-02-02 18:37:35