American Recovery and Reinvestment Act

MGIC Net Income Drops 10 Percent; Losses Up 9 Percent In Fourth Quarter 

MGIC Investment Corporation reported yesterday that its net income for the quarter dropped 5.2 percent, falling to $121.5 million from $128.1 million for the same quarter one year ago. Net income for 2006 was reported at $564.7 million, a 10 percent drop from $626.9 million one year ago, the company said. Diluted earnings per share for the full year was $6.65 compared with $6.78 in 2005, a decrease of 1.9 percent.