Net income increased to $195.6 million, or $2.44 per share, for the quarter ending March 31, from $113.5 million, or $1.42 per share, during the year-ago period.
Radian posted an operating loss for the quarter. Excluding unrealized gains and losses on derivatives, losses totaled $215.2 million, or $2.69 per share, compared with operating earnings of $106.9 million, or $1.34 per share, during the same quarter last year.
"We have seen the continuation of weak housing and credit markets and these conditions have impacted results in our mortgage insurance and financial guaranty businesses," said S.A. Ibrahim, chief executive.