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21st Century Holding Company Reports 2010 Fourth Quarter And Full Year Results

LAUDERDALE LAKES, Fla., March 24, 2011 (GLOBE NEWSWIRE) -- 21 st Century Holding Company (Nasdaq:TCHC), today reported results for the quarter and year ended December 31, 2010 (see tables).

For the three months ended December 31, 2010, the Company reported a net loss of $3.5 million or $0.43 per share on 7.9 million average undiluted and diluted shares outstanding, as compared to a net loss of $7.4 million, or $0.93 per share on 8.0 million average undiluted and diluted shares outstanding in the same three month period last year.

For the twelve months ended December 31, 2010, the Company reported a net loss of $8.0 million or $1.01 per share on 7.9 million average undiluted and diluted shares outstanding, as compared to a net loss of $10.3 million, or $1.29 per share on 8.0 million average undiluted and diluted shares outstanding in the same twelve month period last year.

Gross premiums written decreased $5.3 million, or 18.1%, to $24.1 million for the three months ended December 31, 2010, as compared with $29.4 million for the three months ended December 31, 2009. Gross premiums written decreased $8.0 million, or 7.6%, to $96.4 million for the twelve months ended December 31, 2010, as compared with $104.4 million for the twelve months ended December 31, 2009.

Net premiums earned increased $1.2 million, or 12.0%, to $11.5 million for the three months ended December 31, 2010, as compared to $10.3 million for the same three month period last year. Net premiums earned decreased $2.9 million, or 6.1%, to $45.1 million for the twelve months ended December 31, 2010, as compared to $48.0 million for the same twelve month period last year.

Total revenues increased $1.4 million, or 11.2%, to $14.3 million for the three months ended December 31, 2010, as compared to $12.9 million for the same three month period last year. Total revenues increased $1.7 million, or 3.0%, to $60.6 million for the twelve months ended December 31, 2010, as compared to $58.9 million for the same twelve month period last year.

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