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LA JOLLA, Calif., Nov. 12, 2013 (GLOBE NEWSWIRE) -- PICO Holdings, Inc. (Nasdaq:PICO) reported shareholders' equity of $479.4 million ($21.08 per share) at September 30, 2013, compared to $454.2 million ($19.97 per share) at June 30, 2013 and $473.2 million ($20.82 per share) at December 31, 2012. Reported book value per share attributable to PICO shareholders increased by $0.26, or 1.2%, during the first nine months of 2013.
NET BOOK VALUE
The following table is provided as a supplement to the financial statements contained in PICO's 10-Q, to illustrate the relative size of the Company's assets and activities (Net Book Value in millions):
NET BOOK VALUE
Water Resource and Water Storage Operations
Real Estate Operations
PICO is a diversified holding company. We seek to acquire, build, and operate businesses where significant value can be created from the development of unique assets, and to acquire businesses which we identify as undervalued and where our management participation in operations can aid in the recognition of the business's fair value, as well as create additional value. Our objective is to maximize long-term shareholder value. We manage our operations to achieve a superior return on net assets over the long term, as opposed to short-term earnings.