WASHINGTON (dpa-AFX) - Aflac Inc. (AFL) reported that its first-quarter net earnings were $785 million or $1.68 per share, up from $389 million, or $0.83 per share, a year ago. Operating earnings per share was $1.74, compared to $1.62 last year.
Reflecting the benefit from a stronger yen/dollar exchange rate, revenues rose 21.9% to $6.2 billion in the first quarter of 2012, compared with $5.1 billion in the first quarter of 2011.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.65 per share on revenues of $6.20 billion for the quarter. Analysts' estimates typically exclude special items.
The company said that its board declared the second quarter cash dividend. The second quarter dividend of $0.33 per share is payable on June 1, 2012, to shareholders of record at the close of business on May 16, 2012.
The company now expect Aflac Japan's full year sales to increase 10%, compared with our previous expectation of a sales decline.
The company still expects to produce operating earnings of $6.46 to $6.65 per share before the impact of foreign currency translation for fiscal 2012. Analysts expect the company to report earnings of $6.48 per share for fiscal 2012.
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