EMERYVILLE, Calif. (AP) _ NMI Holdings Inc. (NMIH) on Tuesday reported fourth-quarter net income of $35.5 million, after reporting a loss in the same period a year earlier.
The Emeryville, California-based company said it had net income of 46 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The mortgage insurance company posted revenue of $76.3 million in the period.
For the year, the company reported profit of $107.9 million, or $1.60 per share. Revenue was reported as $275 million.
NMI Holdings shares have risen 27 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.60, an increase of 24 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NMIH at https://www.zacks.com/ap/NMIH