Life Partners to report 16 percent boost in profit

AP News
Posted: Dec 17, 2009 3:08 PM

Life Partners Holdings Inc., holding company for Life Partners, said Thursday it expects to report a 16 percent boost in fiscal third-quarter profit.

Life Partners buys life-insurance policies of terminally ill patients and the elderly at a discount to their face value.

The company said it expects profit of $8.5 million, or 57 cents per share, on revenue of $31 million. That marks an increase from profit of $7.3 million, or 49 cents per share, on revenue of $28.1 million, during the same period a year prior.

The company expects to report third-quarter results in a Securities and Exchange Commission filing Jan. 11.

Shares of Life Partners fell 3 cents to $20.35 in afternoon trading.