This Day On The Street
Continue to site
ADVERTISEMENT
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

Atlantic American Reports Increased Third Quarter And Year To Date Net Income

  • Year to date net income increases 171% as compared with the comparable period in 2012.
  • Insurance premiums earned for the third quarter increased 18.5% while increasing 13.9% year to date as compared with comparable periods in 2012.
  • Realized investment gains were $2.3 million and $8.4 million in the 2013 third quarter and year to date periods.

ATLANTA, Nov. 12, 2013 (GLOBE NEWSWIRE) -- Atlantic American Corporation (Nasdaq:AAME) today reported net income of $2.7 million, or $0.12 per diluted share, for the three month period ended September 30, 2013, compared to net income of $1.1 million, or $0.04 per diluted share, for the three month period ended September 30, 2012. For the nine month period ended September 30, 2013, net income was $9.6 million, or $0.42 per diluted share, compared to net income of $3.5 million, or $0.15 per diluted share, for the comparable period in 2012. Realized investment gains for the three month and nine month periods ended September 30, 2013 were $2.3 million and $8.4 million, respectively, compared to nil and $1.4 million, respectively, for the comparable periods in 2012. Operating income (income before income taxes and realized investment gains, net) for the three month period ended September 30, 2013 was $406,000, a decrease from $956,000 of operating income for the three month period ended September 30, 2012. For the nine month period ended September 30, 2013, operating income was $1.3 million, or 36.0% less than the $2.1 million of operating income for the comparable nine month period of 2012.

Total revenues for the three month period ended September 30, 2013 were $43.2 million, increasing 22.5% from $35.3 million for the three month period ended September 30, 2012. Insurance premiums during this quarter increased $6.0 million, or 18.5%, from the comparable 2012 premiums. For the nine month period ended September 30, 2013, total revenues were $124.5 million, increasing 18.8% from the comparable 2012 period revenues of $104.8 million. Insurance premiums during the nine month period ended September 30, 2013 increased $13.1 million, or 13.9%, from the comparable period in 2012. Premiums earned from the Company's life and health and property and casualty operations were up 9.7% and 40.3%, respectively, for the three month period ended September 30, 2013 and 13.0% and 15.9%, respectively for the nine month period ended September 30, 2013.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,093.55 +69.49 0.39%
S&P 500 2,116.15 +7.86 0.37%
NASDAQ 5,024.3010 +18.91 0.38%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs