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Conseco Reports Fourth Quarter and Year-End Results
Date:3/31/2008

CARMEL, Ind., March 31, 2008 /PRNewswire-FirstCall/ - Conseco, Inc. (NYSE: CNO) today reported results for the fourth quarter of 2007.

"As we stated when we issued preliminary results, we are making steady progress on our plans to position Conseco for future profitable growth," CEO Jim Prieur said. "New business at both Bankers Life and at Colonial Penn continues to be strong, and the expected future margins related to new business at Conseco Insurance Group increased despite declining sales. Asset quality remains a high priority and our portfolio continues to perform within expectations. While we are not without our challenges, we are moving forward with our strategies to further stabilize our long-term care closed block of business and fully remediate the material weakness in internal controls."

Fourth quarter 2007 results:

-- Net operating income (1) before valuation allowance for deferred tax

assets: $19.5 million, compared to $24.6 million in 4Q06

-- Net operating income before valuation allowance for deferred tax assets

per diluted share: 11 cents, compared to 10 cents in 4Q06

-- Net income (loss) applicable to common stock: $(71.5) million,

compared to $5.7 million in 4Q06 (including $23.0 million of net

realized investment losses and $68.0 million valuation allowance for

deferred tax assets in 4Q07 vs. $9.4 million of net realized investment

losses in 4Q06)

-- Net income (loss) per diluted share: (38) cents, compared to 4 cents

in 4Q06 (including 12 cents of net realized investment losses and 37

cents of valuation allowance for deferred tax assets in 4Q07 vs. 6

cents of net realized investment losses in
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SOURCE Conseco, Inc.
Copyright©2008 PR Newswire.
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Related medicine news :

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