Profits jumped while revenue fell in the most recent quarter at Unum Group.
The Tennessee insurance provider, which employs 625 in Downtown Worcester, reported after-tax operating income of 85 cents per share, beating both analysts’ expectations of 82 cents and the third-quarter 2012 figure of 80 cents.
But Unum’s total revenue was down to $2.54 billion, below both experts predictions of $2.59 billion and the year-over-year figure of $2.63 billion.
“Although the current environment presents challenges to achieving our longer term growth expectations, I am very encouraged by the improved sales trends we saw in several of our markets,” president and CEO Thomas Watjen said in a statement.
Unum had investment losses and other liabilities of $18.9 million in the third quarter, lowering the company’s net income.
The company expects growth in after-tax operating earnings per share for all of 2013 to come in at the higher end of the outlook range announced in December 2012 of 0 percent to 6 percent, including the effect of expected share repurchases.
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