Radian Earnings Fall in '03

Radian Group Inc., Philadelphia, has reported net income of $385.9 million ($4.08 per share) in 2003, down from $427.2 million ($4.41 per share) in 2002.For the fourth quarter, Radian reported earnings of $55.5 million ($0.58 per share), down from $107.8 million ($1.14 per share) a year earlier. The company's fourth-quarter results were hurt by two separate charges, the largest being a $62 million ($0.66 per share) charge related to additions to loss reserves in anticipation of claims from a manufactured housing loan transaction originated and serviced by Conseco Finance Corp., St. Paul, Minn. The other charge, $0.09 per share, covers the closing of RadianExpress.com Inc. Radian can be found online at http://www.radianmi.com.