Principal Financial Group said late Monday that its fourth-quarter net income was $199.3 million, or $0.62 per share, vs. $141.9 million, or $0.44 per share in the year-ago period.
Operating revenues for the fourth quarter were $2.11 billion compared to $1.98 billion for the same period last year.
Equity analysts had anticipated that Principal would earn $0.68 per share on sales of $2.04 billion.
The company's shares traded down 4.4% late Monday to $32.20.
For the full-year 2010, the company had net income of $666.3 million, or $2.06 per share, compared to $589.7 million, or $1.97 per share in 2009. Operating revenues for the year 2010 were $8.04 billion compared to $7.71 billion for the same period last year.
"The Principal finished the year strong with all-time record assets under management and an increase in operating earnings," said Larry D. Zimpleman, chairman, president and CEO in a press release.
