This Day On The Street
Continue to site right-arrow
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!

National Interstate Corporation Reports 2012 Fourth Quarter And Full Year Results

Stocks in this article: NATL

  • Gross premiums written increased in 2012: fourth quarter up 37%, full year up 9%
  • 2012 fourth quarter and full year net income trail last year

RICHFIELD, Ohio, Feb. 26, 2013 (GLOBE NEWSWIRE) -- National Interstate Corporation (Nasdaq:NATL) today reported results for the 2012 fourth quarter and full year. Net income per share, diluted of $0.42 for the 2012 fourth quarter decreased compared to the 2011 fourth quarter reflecting higher claims costs that were partially offset by net realized gain from investments. Net income per share, diluted of $1.75 for the 2012 full year also trailed 2011 as a result of lower underwriting profits that were partially offset by higher investment income and net realized gain from investments.

Gross premiums written increased 36.8% for the 2012 fourth quarter and 9.0% for the 2012 full year compared to the same 2011 periods reflecting growth in the alternative risk transfer (ART) and transportation components.


Net income, determined in accordance with U.S. generally accepted accounting principles (GAAP), includes items that may not be indicative of our ongoing operations. The following table identifies such items and reconciles estimated net income to net income from operations, a non-GAAP financial measure that we believe is a useful tool for investors and analysts in analyzing ongoing operating trends.

  Three Months Ended December 31, Year Ended December 31,
  2012 2011¹ 2012 2011¹
  (In thousands, except per share data) (In thousands, except per share data)
Net after-tax earnings from operations $6,015 $11,081 $29,990 $34,564
After-tax net realized gain from investments 2,065 996 4,042 2,910
After-tax impact from balance sheet guaranty for Vanliner 184 165 262 (1,926)
Net income $8,264 $12,242 $34,294 $35,548
Net after-tax earnings from operations per share, diluted $0.30 $0.57 $1.53 $1.77
After-tax net realized gain from investments per share, diluted 0.11 0.05 0.21 0.15
After-tax impact from balance sheet guaranty for Vanliner per share, diluted 0.01 0.01 0.01 (0.10)
Net income per share, diluted $0.42 $0.63 $1.75 $1.82
¹ 2011 results have been retrospectively adjusted for the changes to accounting for deferred policy acquisition costs required under Accounting Standards Update No. 2010-26 ("ASU 2010-26").

Net after-tax earnings from operations include underwriting income and net investment income. After-tax realized gains from investments and the after-tax impact on underwriting results related to the balance sheet guaranty from the Vanliner Insurance Company acquisition are separately presented to better reflect the results related to ongoing business.

1 of 6

Select the service that is right for you!

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 17,659.47 +302.60 1.74%
S&P 500 2,048.46 +35.57 1.77%
NASDAQ 4,731.8750 +87.5630 1.89%

Brokerage Partners

Rates from

  • 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