Nymex, Fiserv, Unum Group

Nymex Holdings Inc. and Fiserv Inc. posted positive first-quarter results, while earnings fell at Unum Group. Nymex Holdings, the parent company of the New York Mercantile Exchange, reported a higher quarterly profit as increased market volatility pushed average trading volume to record levels. The New York-based company said net income for the first quarter increased to $71.2 million, or 72 cents per share, up from $56.2 million, or 59 cents per share a year earlier. The results reflect a $7.9 million expense related to Nymex’s pending merger with the CME Group Inc. of Chicago. Daily average trading volume in the quarter reached a record 1.871 million contracts, up 27% from a year ago. Electronic trading volume averaged 814,000 contracts per day, up 36%. Fiserv’s net income nearly tripled in the first quarter due to higher processing and service fees. The Brookfield, Wis.-based provider of data processing services to the financial services industry said net income rose to $329 million, or $1.99 per share, in the first quarter, up from $114 million, or 66 cents per share. Revenue increased 47%, to $947 million. During the quarter, Charlotte, N.C.-based Bank of America Corp. extended a contract for bill payment services through 2013 in exchange for a one-time discount that will cut Fiserv revenue this year by about $25 million. As a result, Fiserv said it cuts its 2008 adjusted earnings’ outlook by 7 cents, to a range of $3.28 to $3.40 a share. Unum Group’s first-quarter net income fell 9%, due to investment losses. The Chattanooga, Tenn.-based provider of disability insurance said net earnings were $163.1 million, or 46 cents per share, down from $178.3 million, or 51 cents per share in the year-ago quarter. The results included investment losses of $44.7 million, or 13 cents per share, compared to realized after-tax investment losses of $3.2 million, or one cent per share, in the first quarter of 2007. Colonial Life & Accident Insurance Co. of Columbia, S.C., a division of Unum, reported a 13.1% increase in operating income in the first quarter, to $67.4 million, compared with $59.6 million in the year-ago period.