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Article Excerpt
DALLAS -- Hilltop Holdings Inc. (NYSE:HTH), today announced results for the third quarter ended September 30, 2007.
Third Quarter Operating Results
For the three and nine months ended September 30, 2007, net income attributable to common stockholders was $291.7 million and $272.8 million, or $5.12 per share and $4.85 per share on a fully diluted basis, respectively. Continuing operations accounted for $6.3 million and $3.8 million of the net income for the three months and nine months ended September 30, 2007, respectively. Net income from Discontinued Operations was $288.0 million for the three months and $276.7 million for the nine months ended September 30, 2007. The primary contributor to net income from Discontinued Operations was the proceeds from the sale of the assets related to the manufactured home communities' business segment, which closed on July 31, 2007.
Total revenue for the third quarter of 2007 was $38.0 million. The total revenue of Hilltop Holdings Inc. (the "Company") is primarily comprised of net premiums earned from its property and casualty insurance subsidiary NLASCO and interest earned from the cash proceeds from the sale of its manufactured home communities business in July. Net insurance premiums earned were $26.3 million....
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