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MONY Reports Higher 1st Quarter Net Income

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NU Online News Service, May 7, 3:07 p.m. – The MONY Group Inc., New York, is reporting $14 million in net income for the first quarter on $537 million in revenue, up from $13 million in net income on $512 million in revenue for the first quarter of 2001.

The latest results include $3.3 million in venture capital gains and $900,000 in investment losses. Excluding those items, operating income fell to $12 million, from $15 million, MONY says.