EMERYVILLE, Calif. (AP) _ NMI Holdings Inc. (NMIH) on Tuesday reported fourth-quarter net income of $50.2 million.
On a per-share basis, the Emeryville, California-based company said it had net income of 71 cents. Earnings, adjusted for non-recurring costs, were 75 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The mortgage insurance company posted revenue of $104.9 million in the period.
For the year, the company reported profit of $172 million, or $2.47 per share. Revenue was reported as $378.8 million.
NMI Holdings shares have increased 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.55, a climb of 60% in the last 12 months.