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April 19, 2006 at 01:24 PM
Restructuring costs affected financial services unit performance at Allstate Corp. during the first quarter.
Allstate, Northbrook, Ill., is reporting $1.4 billion in net income for the latest quarter on $9.1 billion in revenue, up from $1.1 billion in net income on $8.7 billion in revenue for the first quarter of 2005.
Allstate Financial, the company division that sells products such as life insurance and annuities, is reporting $144 million in operating income for the first quarter on $1.5 billion in revenue, compared with $149 million in operating income on $1.4 billion in revenue for the first quarter of 2005.
