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PMI net income ahead of estimate.
Byline: Rick Jurgens
May 6--PMI Group Inc.'s first-quarter profits beat analysts' expectations despite some signs of a slowdown in the company's main business of insuring mortgage lenders against losses from loans to borrowers who made smaller-than-normal down payments.
Walnut Creek-based PMI Group posted net income of $101.2 million, or $1 a share, on revenue of $274.8 million for the quarter that ended March 31, ahead of the consensus estimate of 97 cents a share among 12 analysts surveyed by First Call/Thomson Financial.
A year ago, PMI Group posted net income of $119.5 million, or $1.16 a share, on revenue of $254.6 million. Excluding gains from …
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