Primus Guaranty, Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
For the six months period, the company reported total revenues of $6,958,000 compared to $41,094,000 a year ago. Income from continuing operations before provision for income taxes was $4,180,000 compared to $36,420,000 a year ago. Net income available to common shares was $4,183,000 or $0.19 basic and diluted per share compared to $35,289,000 or $1.38 basic and diluted per share a year ago. GAAP book value per common share was $1.82 at June 30, 2014, compared with GAAP book value per common share of $8.89 at December 31, 2013. The June 30, 2014 GAAP book value per common share reflects the $7.25 distribution per common share that was paid to shareholders in the second quarter 2014.