Radian Finalizes Settlement with IRS on 2000 to 2007 Examination and Announces Webcast of Second Quarter Conference Call on July 26, 2018
-- Company expects settlement and related tax benefits to increase
Radian expects to realize tax benefits of approximately
The company estimates that the settlement and related tax benefits will result in an increase to Radian’s net income per share of
BACKGROUND ON IRS MATTER
As previously disclosed, Radian contested adjustments resulting from the examination by the
SECOND QUARTER 2018 CONFERENCE CALL
Radian will hold a conference call on
The conference call will be broadcast live over the Internet at http://www.radian.biz/page?name=Webcasts or at www.radian.biz. The call may also be accessed by dialing 800.288.8976 inside the
A replay of the webcast will be available on the Radian website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two and a half hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 800.475.6701 inside the
In addition to the information provided in the company's earnings news release, other statistical and financial information, which is expected to be referred to during the conference call, will be available on Radian's website under Investors >Quarterly Results, or by clicking on http://www.radian.biz/page?name=QuarterlyResults.
ABOUT RADIAN
-
Mortgage Insurance , through its principal mortgage insurance subsidiaryRadian Guaranty Inc. This private mortgage insurance helps protect lenders from default-related losses, facilitates the sale of low-downpayment mortgages in the secondary market and enables homebuyers to purchase homes more quickly with downpayments less than 20%. - Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as Entitle Direct,
Green River Capital ,Red Bell Real Estate andValuAmerica . These solutions include information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities.
Additional information may be found at www.radian.biz.
FORWARD-LOOKING STATEMENTS
All statements in this Current Report on Form 8-K that address events, developments or results that we expect or anticipate may occur in the future are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act and the
- the possibility that our estimated liability may not be accurate due to, among other things, the
IRS assessing interest at an amount that is different than our current estimated liability and potential additional true-ups of the settlement amounts; - our ability to obtain approval from the
U.S. Tax court for the settlement terms reached between Radian and theIRS and, if such approval is not obtained, the possibility that we would need to make further adjustments, which could be material, to our tax provision and liabilities; and - the impact of potential audits or examinations of future tax periods.
For more information regarding these risks and uncertainties as well as certain additional risks that we face, you should refer to the Risk Factors detailed in Item 1A of our Annual Report on Form 10-K for the year ended
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