Genworth Financial today reported results for the first quarter of 2010. Net income, before provision for noncontrolling interests, was $212m, or $0.43 per diluted share, compared with a net loss of $469m, or $1.08 per diluted share, in the first quarter of 2009. Net operating income, before provision for noncontrolling interests, for the first quarter of 2010 was $147m, or $0.30 per diluted share, compared to net operating income of $14m, or $0.03 per diluted share, in the first quarter of 2009. Reflecting the company’s reduction in ownership of Genworth MI Canada in the third quarter of 2009 from 100% to 57.5% in connection with an initial public offering (IPO) transaction, Genworth’s net income available to Genworth’s common stockholders was $178m, or $0.36 per diluted share, in the first quarter of 2010.
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