Chicago-based CNA Financial Corp. has revised its net 2002 profit $32 million lower in response to complaints from the SEC about the timing and accounting of investment losses, according to a statement released by the commercial lines insurer.
CNA lowered its fourth-quarter net income to $50 million, or 21 cents per share, from $82 million, or 36 cents per share. For the year, net profit was revised down to $155 million, or 68 cents per share, from $187 million, or 83 cents per share.
CNA shares were down 28 cents per share, or 3.31 percent, in morning trading.
Topics Profit Loss
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