Triad Guaranty Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the period, the company reported total revenues of $40.822 million against $45.210 million a year ago. Loss before income taxes was $37.725 million against $4.910 million a year ago. Net loss was $37.725 million or $2.47 per diluted share against $4.910 million or $0.32 per diluted share a year ago. Net cash used in operating activities was $17.707 million against $5.026 million a year ago. Purchases of investment securities was $19.837 million against $27.539 million a year ago.