Results for the three months ended March 31, 2010 and 2009, based on accounting principles generally accepted in the United States of America, were reported today as follows:
|Three Months Ended March 31|
|Realized Investment Gains||669,000||1,000|
|Net Income Per Share||$||0.77||$||0.60|
The Company ended the first quarter of 2010 with a net income of $1,894,000 or $0.77 per share, compared to a net income of $1,481,000 or $0.60 per share for the same period last year. The primary factor contributing to the increase in net income was a $668,000 increase in realized investment gains. A $281,000 increase in investment income along with a $344,000 reduction in policy acquisition costs also contributed to the $413,000 or 27.9% increase in net income.