Torchmark Corp. (TMK) reported that its first-quarter net income decreased to $121.6 million from $132.9 million, last year. Earnings per share was $0.95, compared to $0.98 for the year-ago quarter. Net operating income per share was $1.04, for the quarter.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $1.05 for the quarter. Analysts' estimates typically exclude special items.
Net sales of life insurance increased 17%, while net health sales increased 2%. Excluding group business, net health sales increased 22%. Total insurance premium revenue was $821.4 million, compared to $791.6 million, a year ago.
Torchmark projects that for the year ending December 31, 2015, net operating income per share will be in a range of $4.20 to $4.36. Analysts expect the company to report 2015 earnings per share of $4.30.
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