PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — MBIA Inc. (MBI) on Thursday reported a loss of $51 million in its fourth quarter.
On a per-share basis, the Purchase, New York-based company said it had a loss of $1.07. Losses, adjusted for non-recurring costs and to account for discontinued operations, were 48 cents per share.
The insurance and reinsurance company posted revenue of $37 million in the period. Its adjusted revenue was $29 million.
For the year, the company reported a loss of $447 million, or $9.43 per share. Revenue was reported as $123 million.
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