CNO - Conseco Inc.

About Conseco

Conseco, Inc.'s insurance companies help protect working American families and seniors from financial adversity: Medicare supplement, long-term care, cancer, heart/stroke and accident policies protect people against major unplanned expenses; annuities and life insurance products help people plan for their financial futures. For more information, visit Conseco's website at www.conseco.com.

been a volume monster lately...nice showing today in a flat/slightly down atmosphere...lots of upside if this support holds up near term...

looks good...very nice day...like the volume and closing at hod...if the market holds up looks like this one may go...

^^^holding^^^???...you get in on the early/short pullback i hope ???

earnings

well since they posted the results for the 4th qtr and year 2008, today i would look for the first qtr 2009 to be in May sometime...




Conseco Reports Fourth Quarter and Year-end Results
Conseco Reports Fourth Quarter and Year-end Results
CARMEL, Ind., March 31 /PRNewswire-FirstCall/ -- Conseco, Inc. (NYSE: CNO) today reported results for the fourth quarter and year-end 2008. 'We are pleased to report our final results for the fourth quarter 2008 today, along with the successful renegotiation of our credit facility with our lenders,' Conseco CEO Jim Prieur said. 'Renegotiating our debt gives us greater financial flexibility during times of market volatility, as we focus on the continued growth of our core insurance businesses. Our businesses produced significant operating earnings, sales, and cash flow in the fourth quarter. We will file our Annual Report on Form 10-K for the year ended December 31, 2008 with the SEC later today, with an unqualified opinion from our auditors.'


Fourth Quarter 2008 results:



Total New Annualized Premium ('NAP') (1): $101.6 million, up 16% from 4Q07 ($100.7 million, excluding Private-Fee-For-Service ('PFFS'), up 12% from 4Q07)
Income before net realized investment losses, discontinued operations resulting from the transfer of Senior Health Insurance Company of Pennsylvania ('Senior Health,' formerly known as Conseco Senior Health Insurance Company prior to its name change in October 2008) (the 'Transfer') to an independent trust, corporate interest and taxes ('EBIT') (2): $78.1 million, compared to $64.8 million in 4Q07
Net operating income before valuation allowance for deferred tax assets (3): $48.7 million, compared to $27.2 million in 4Q07
Net operating income before valuation allowance for deferred tax assets per diluted share: 26 cents, compared to 15 cents in 4Q07
Net loss applicable to common stock: $451.8 million, compared to $71.5 million in 4Q07 (including $500.5 million of net realized investment losses, valuation allowance for deferred tax assets and losses related to discontinued operations in 4Q08 vs. $98.7 million of such losses in 4Q07)
Net loss per diluted share: $2.45 compared to 38 cents in 4Q07 (including $2.71 of net realized investment losses, valuation allowance for deferred tax assets and losses related to discontinued operations in 4Q08 vs. 53 cents of such losses in 4Q07)



Full Year 2008 results:



NAP (1): $432.6 million, up 4% from 2007 ($369.8 million, excluding PFFS, up 6% from 2007)
EBIT (2): $291.3 million, compared to $184.6 million in 2007 (including $64.4 million related to a litigation settlement and $76.5 million related to an annuity coinsurance transaction in 2007)
Net operating income before valuation allowance for deferred tax assets (3): $156.4 million, compared to $59.4 million in 2007
Net operating income before valuation allowance for deferred tax assets per diluted share: 85 cents compared to 34 cents in 2007
Net loss applicable to common stock: $1,126.7 million, compared to $194.0 million in 2007 (including $1,283.1 million of net realized investment losses, valuation allowance for deferred tax assets and losses related to discontinued operations 2008 vs. $253.4 million of such losses in 2007)
Net loss per diluted share: $6.10, compared to $1.12 in 2007 (including $6.95 of net realized investment losses, valuation allowance for deferred tax assets and losses related to discontinued operations in 2008 vs. $1.46 of such losses in 2007)




Financial Strength at December 31, 2008:



Book value per common share, excluding accumulated other comprehensive income (loss) (4), was $18.35, compared to $24.42 at December 31, 2007
Book value per diluted share, excluding accumulated other comprehensive income (loss) (4), was $18.35, compared to $24.41 at December 31, 2007
Debt-to-total capital ratio, excluding accumulated other comprehensive income (loss) (4), was 28.2%, compared to 20.9% at December 31, 2007