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July 24, 2001 at 08:00 PM
NU Online News Service, July 24, 11:55 a.m. – Lincoln National Corp., Philadelphia, is reporting $142 million in net income for the second quarter on $1.6 billion in revenue, down from $164 million in net income on $1.7 billion for the second quarter of 2000.
Operating income, which excludes the effects of a $3.9 million restructuring charge, an $11 million charge for an accounting change, and $11 million in losses recorded on investments sold during the quarter, fell 3%, to $173 million.
Although Lincoln recorded some investment losses, the company is pleased that it performed as well as it did during a tough quarter, according to Jon Boscia, the chairman.
“Our efforts to improve overall net flows in both our annuities and investment management businesses are yielding results,” Boscia said in a statement.
