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MGIC: Q4 Earnings Snapshot

MILWAUKEE (AP) — MILWAUKEE (AP) — MGIC Investment Corp. (MTG) on Monday reported fourth-quarter profit of $169.3 million.

On a per-share basis, the Milwaukee-based company said it had net income of 75 cents.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The mortgage insurance company posted revenue of $298.7 million in the period. Its adjusted revenue was $297.8 million.

For the year, the company reported profit of $738.3 million, or $3.14 per share. Revenue was reported as $1.21 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTG at https://www.zacks.com/ap/MTG

Sullenberger: Boeing crashes ‘should never have happened’

▶ Watch Video: Captain "Sully" Sullenberger blasts Boeing and FAA in op-ed Captain Chesley B. "Sully" Sullenberger III testified Wednesday before the House Subcommittee on Aviation. The hero pilot answered questions about the Boeing 737 Max 8, the type of aircraft involved in the deadly crashes of Lion Air Flight 610 last October and Ethiopian Airlines Flight 302 in March. "These crashes are demonstrable evidence that our current system of aircraft design and certification has failed us. These accidents should never have happened," Sullenberger said in his prepared remarks, adding that he has 52 years of flying experience. "I know that we must consider all the human factors of these accidents, and how system design determines how many, and what kinds of, errors will be made and how consequential they will be." "These two recent crashes happened in foreign countries, but if we do not address all of the important issues and factors they can and will happen here," Sullenberger said.  Captain Chesley "Sully" Sullenberger speaks during a House Committee on Transportation and Infrastructure hearing on the status of the Boeing 737 MAX on Capitol Hill, June 19, 2019. Andrew Harnik / AP
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