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Portfolio > Economy & Markets > Fixed Income

Jefferson-Pilot Reports Lower 4th Quarter Net Income

By Staff Writer

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NU Online News Service, Feb. 4, 11:42 a.m. – Jefferson-Pilot Corp., Greensboro, N.C., is reporting $73 million in net income for the fourth quarter of 2002 on $837 million in revenue, compared with $103 million in net income on $802 million in revenue for the fourth quarter of 2001.

Jefferson-Pilot sells individual life insurance, annuities and investment products, and benefits, as well as communications services.

Individual: $75 million in operating income for the latest quarter on $464 million in revenue, up from $74 million in operating income on $459 million in revenue. Sales commissions increased to $74 million, from $58 million.

Annuity and investment products: $21 million in operating income on $174 million in revenue, up from $19 million in operating income on $170 million in revenue. Commissions fell to $12 million, from $19 million.

Benefits: $13 million in operating income on $178 million in revenue, compared with $9.2 million in operating income on $180 million in revenue. Commissions increased to $20 million, from $17 million.

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