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UnumProvident Reports Lower 4th Quarter Net Income

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NU Online News Service, Feb. 5, 5:18 p.m. – UnumProvident Corp., Chattanooga, Tenn., is reporting $94 million in net income for the fourth quarter of 2002 on $2.5 billion in revenue, compared with $124 million in net income on $2.3 billion in revenue for the fourth quarter of 2001.

Net results for the latest quarter include $93 million in investment losses, the company says.

Short-term disability insurance and individual products performed a little worse in the latest quarter than they did in the comparable quarter in 2001, but earnings for most other products were a little higher, UnumProvident says.