Transamerica’s Net Income Declines 8%
San Francisco-based Transamerica Corp. on Thursday reported net income of $104.9 million, or $1.40 a share, for the third quarter of 1994, down 8% on an adjusted basis from $116 million, or $1.41 a share, from continuing operations in the corresponding period of 1993.
The results were stronger than expected, with the company’s Los Angeles-based subsidiary, Transamerica Life Insurance Co., turning in record third-quarter operating income of $64.8 million.
“The strong performances of our life insurance and commercial lending operations offset the 62% decline in our real estate and asset management businesses from the record levels of 1993,” said Frank C. Herringer, Transamerica’s president and chief executive.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
