Aflac maintains full year profit outlook

COLUMBUS, Ga. - Insurer Aflac Inc. on Wednesday said it expects to earn $3.86 to $3.98 per share on an adjusted basis for 2008, if the exchange rate for the Japanese yen, where the company takes in about 71 percent of its revenue, remains at current levels. That forecast came in below Wall Street's expectations. Analysts polled by Thomson Financial, on average, expect a profit of $4 per share for the year. The company expects adjusted profit of 98 cents to $1.01 per share in the third quarter, assuming a stable exchange rate. Analysts are currently looking for a profit of $1.01 per share in the third quarter. The company also said its second-quarter profit rose 16 percent, helped by the strength of the Japanese yen relative to the U.S. dollar. In after-hours trading, Aflac shares fell $2.22, or 3.7 percent, to $58.10, from... [read full story]