Lincoln Financial posts down quarter


Lincoln Financial Group reported that Q4 net income was 113 million, or 42 cents per share, down from 381 million and EPS of 1.36 a year earlier. A big factor in that decline was a net realized loss on investments of 71 million after tax relating to the sale of some of its media assets. The insurance company put all of its media properties up for sale a few months ago, but sold only its TV group and its radio stations in Charlotte. What remains of Lincoln Financial Media is being reported under “other operations” in the parent company’s quarterly reports. For Q4 communications revenues were down 6.4% to 26.5 million and communications expenses rose 1.5% to 13.5 million.