* Q3 cash EPS $0.61 vs est. $0.46 * Lower costs aid Q3 profit
Nov 3 (Reuters) - Life insurance distributor National Financial Partners Corp posted a quarterly cash profit that topped Wall Street targets as it managed to keep a lid on costs.
The company, which has been battling weak sales over the last few quarters, earned $10.5 million, or 24 cents a share, compared with $3.5 million, or 8 cents a share, a year back.
Cash profit, which excludes certain unusual items, was 61 cents a share. Analysts were looking for a profit of 46 cents a share, excluding items, according to Thomson Reuters I/B/E/S.
Cost of services for the period stood at $186 million, compared with $228.7 million in the same quarter last year.
The company, which distributes financial services products to wealthy consumers, is headed by Jessica Bibliowicz, the daughter of former Citigroup Inc head Sandy Weill.
Shares of the New York-based company were up slightly at $8.08 in extended trade. They have risen nearly 10-fold since hitting a 52-weeek low of 81 cents last November.
(Reporting by Anurag Kotoky in Bangalore; Editing by Anil D'Silva) Keywords: NATIONALFINANCIAL/ (anurag.kotoky@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: anurag.kotoky.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Nov 3 (Reuters) - Life insurance distributor National Financial Partners Corp posted a quarterly cash profit that topped Wall Street targets as it managed to keep a lid on costs.
The company, which has been battling weak sales over the last few quarters, earned $10.5 million, or 24 cents a share, compared with $3.5 million, or 8 cents a share, a year back.
Cash profit, which excludes certain unusual items, was 61 cents a share. Analysts were looking for a profit of 46 cents a share, excluding items, according to Thomson Reuters I/B/E/S.
Cost of services for the period stood at $186 million, compared with $228.7 million in the same quarter last year.
The company, which distributes financial services products to wealthy consumers, is headed by Jessica Bibliowicz, the daughter of former Citigroup Inc head Sandy Weill.
Shares of the New York-based company were up slightly at $8.08 in extended trade. They have risen nearly 10-fold since hitting a 52-weeek low of 81 cents last November.
(Reporting by Anurag Kotoky in Bangalore; Editing by Anil D'Silva) Keywords: NATIONALFINANCIAL/ (anurag.kotoky@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: anurag.kotoky.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
