AFLAC’s Revenues Light; Shares Bid Lower (AFL)

AFLAC Inc. AFL reports Q2 earnings of $1.35 versus estimates of $1.33. AFLAC Inc. reports Q2 revenues of $4.98 billion versus estimates of $4.99 billion. The company said that cash and total investments as of June totaled $79.5 billion; shareholder’s equity was $10.00 billion ($21.31 per share) as of June. Commenting on the company's second quarter results, Chairman and Chief Executive Officer Daniel P. Amos stated: "We are pleased with Aflac's financial performance in the second quarter of 2010 and believe we have made significant progress toward our annual objectives for operating earnings growth and capital strength. Aflac Japan's operations have remained strong while producing significant sales growth.” He added, “As a result, we believe we are well-positioned to achieve our full-year sales target in Aflac Japan, our largest segment. Sales in the United States continue to be challenged by the extended weak economic environment, however we are encouraged by the recent improvement in the productivity of our veteran sales associates. Although we expect third quarter sales to be lower than a year ago, we remain hopeful we will see U.S. sales turn in the second half of the year. Shares of AFL are trading lower in the after-hours. Aflac Incorporated is a general business holding company and acts as a management company, overseeing the operations of its subsidiaries. Its principal business is supplemental health and life insurance, through its subsidiary, American Family Life Assurance Company of Columbus, which operates in the United States and as a branch in Japan.