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Principal reports strong retirement sales, earnings


Principal Financial Group Inc. reported first quarter net income of $201.5 million, or 66 cents per share, up from $182 million, or 56 cents per share, for the first quarter of 2011. The company’s operating revenues for the first quarter of 2012 were $2,107.4 million, compared with $2,047.5 million for the same period last year. Principal reported strong sales in its three key retirement and investor services accounts in the first quarter, with $3.2 billion for Full Service Accumulation accounts, a record $3.7 billion for Principal Funds and $587 million for its Individual Annuities segment.

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