PURCHASE, N.Y. (AP) _ MBIA Inc. (MBI) on Monday reported a third-quarter loss of $58 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Purchase, New York-based company said it had a loss of $1.11. Losses, adjusted for one-time gains and costs, were 34 cents per share.
The insurance and reinsurance company posted revenue of $71 million in the period.
MBIA shares have decreased 30% since the beginning of the year. In the final minutes of trading on Monday, shares hit $6.53, a fall of 37% in the last 12 months.
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