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Pru Reports Higher Net Income, Lower Fixed Annuity Sales

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NU Online News Service, Aug. 6, 2003, 5:51 p.m. EDT – Prudential Financial Inc., Newark, N.J., is reporting $196 million in net income for the second quarter on $4.8 billion in operating revenue, up from a $68 million net loss on $4.6 billion in revenue for the second quarter of 2002.

Sales of variable annuities increased to $1.1 billion for the quarter, from $406 million, while sales of fixed annuities fell to $57 million, from $181 million.


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