This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Atlantic American Corporation Reports Fourth Quarter And Year End Results For 2010

Atlantic American Corporation (Nasdaq: AAME) today reported its results for the fourth quarter and year ended December 31, 2010. For the fourth quarter ended December 31, 2010, the Company reported net income of $1.5 million, or $0.06 per diluted share, compared to net income of $0.6 million, or $0.02 per diluted share, during the same period in 2009. Realized investment gains for the quarter ended December 31, 2010 were $1.3 million as compared to $0.3 million for the quarter ended December 31, 2009. Income from operations before realized investment gains and income taxes was $368,000 for the quarter ended December 31, 2010 and $650,000 for the quarter ended December 31, 2009. Premiums for the fourth quarter of 2010 increased 10.2% to $25.3 million compared to $23.0 million for the fourth quarter of 2009; as premiums in the life and health operations increased by $1.1 million and premiums in the property and casualty operations increased by $1.2 million on a comparative basis.

Atlantic American reported net income for the year ended December 31, 2010 of $2.5 million, or $0.09 per diluted share, as compared to a net loss of $1.2 million, or $0.08 per diluted share, for the year ended December 31, 2009. The 2009 net loss was directly attributable to an increase in the Company’s deferred tax asset valuation allowance of approximately $2.0 million primarily related to the disposition of certain investments. Income from operations before realized investment gains and income taxes increased 26.5% and was $1.4 million for the year ended December 31, 2010 as compared to $1.1 million for the year ended December 31, 2009. Total premiums during 2010 increased 6.7% to $97.6 million from 2009 premiums of $91.5 million; and premiums in the life and health operations increased 9.6% or $5.5 million in 2010 as compared to 2009, while premiums in the property and casualty operations increased nominally by $0.6 million in that period.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs