RLI Q1 Profit Tops Estimate

(RTTNews) - RLI Corp. (RLI) reported first quarter net income of $29.0 million or $0.66 per share, compared to $24.8 million or $0.57 per share for the year-ago quarter.

Operating earnings for the first quarter were $24.7 million or $0.57 per share, compared to $22.5 million or $0.52 per share in the prior year quarter.

Revenue for the first quarter rose 12.8% to $181.22 million from $160.72 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.52 per share on revenue of $169.07 million for the first quarter. Analysts' estimates typically exclude special items.