NMI Holdings (NMIH) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $61.56 million, or $ 1.01 a share in the quarter, against a net loss of $4.82 million, or $0.08 a share in the last year period.    

Revenue during the quarter surged 94.19 percent to $36.63 million from $18.86 million in the previous year period. Net premium earned for the quarter jumped 94.46 percent or $15.95 million to $32.82 million.  

Net investment income was at $3.63 million for the quarter, up 74.88 percent or $1.56 million from year-ago period. The company has recorded a gain on investments of $0.06 million in the quarter compared with a loss of $0.12 million for the previous year period.  

Bradley Shuster, chairman and chief executive officer of National MI, said, "We are proud of our performance in the fourth quarter and for the full year. In 2016 we achieved profitability, more than doubled insurance in force and premiums earned, negotiated a reinsurance treaty to support our growth, and solidified our position as a strong, returns-oriented mortgage insurance provider. We are excited about our growing operating leverage and returns profile, realizing the business model we envisioned at our founding. We want to thank our customers and employees, as well as business partners, lenders and shareholders for making it possible."

Return on assets was at 7.76 percent in the quarter against a negative 0.42 percent in the last year period. Return on equity was at 12.90 percent in the quarter against a negative 1.20 percent in the last year period.

Total debt was almost stable over the past one year at $144.35 million on Dec. 31, 2016. Shareholders equity stood at $477.35 million as on Dec. 31, 2016, up 18.53 percent or $74.62 million from year-ago. As a result, debt to equity ratio went down 6 basis points to 0.30 percent in the quarter from 0.36 percent in the last year period.