EMC Net Income Down in 4Q, Up for Full Year

EMC Insurance Group Inc. on Thursday reported fourth quarter 2006 operating income of 78 cents per share, compared with $1.34 per share for the fourth quarter of 2005. But the company said operating income for the full year in 2006 was a record $3.70 per share, compared with $2.98 per share for the same period in 2005. Net income, including realized investment gains and losses, was $11.5 million (84 cents per share) for the fourth quarter of 2006 compared with $19 million ($1.40 per share) for the fourth quarter of 2005. Net income for the full year 2006 was a record $53.5 million ($...