Hartford Financial Services Group's fourth-quarter net income fell 24%, to $595 million, or $1.88 a share, in the fourth quarter from a year earlier because of capital losses, but operating earnings rose and beat analysts' expectations.
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The Connecticut company, which announced the results Thursday, said operating earnings rose 9.4%, to $840 million, or $2.66 a share. The average EPS estimate of analysts polled by Thomson Financial was $2.49. Hartford reiterated the 2008 EPS guidance it gave in December: $9.80 to $10.20.
