WASHINGTON (dpa-AFX) - Aflac Inc. (AFL) reported that its second-quarter net earnings were $483 million or $1.03 per share, compared with $274 million, or $0.58 per share, a year ago.
Operating earnings for the quarter rose to $755 million or $1.61 per share from $727 million or $1.55 per share last year. On average, twenty analysts polled by Thomson Reuters expected the company to report earnings of $1.61 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues rose 16.0% to $5.90 billion from $5.09 billion in the second quarter of 2011, while eight analysts expected revenue of $6.28 billion for the quarter.
The company said that its board declared the third quarter cash dividend. The third quarter dividend of $0.33 per share is payable on September 4, 2012, to shareholders of record at the close of business on August 15, 2012.
The company now expect Aflac Japan's full year sales to increase 22% to 25%. If the yen averages 80 for the full year it's likely operating earnings per share will be $6.45 to $6.52 for the year, which is toward the lower end of the range, due to the continued low level of investment yields.
Analysts currently expect earnings of $6.56 per share for the full year.
Using that same exchange rate assumption, the company would expect third quarter operating earnings to be $1.64 to $1.69 per share. Analysts now expect third quarter earnings of $1.63 per share.
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