MBIA (MBI) Misses Q4 EPS by 5c
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MBIA Inc. Reports Fourth Quarter and Full Year 2015 Financial Results
February 29, 2016 4:15 PM ESTPURCHASE, N.Y.--(BUSINESS WIRE)-- MBIA Inc. (NYSE: MBI) (the Company) today reported Combined Operating Income (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) of $87 million or $0.52 per diluted share for the year ended December 31, 2015 compared to $185 million or $0.97 per diluted share for the year ended December 31, 2014. The decline in Combined Operating Income for 2015 compared to 2014 was driven primarily by the release of a $61 million tax reserve and the receipt of an $18 million recovery on an errors and omissions insurance policy that both occurred in 2014 and a $15 million... More
