Alfa Corporation Reports Third Quarter 2006 Results.MONTGOMERY Montgomery, city, United States Montgomery, city (1990 pop. 187,106), state capital and seat of Montgomery co., E central Ala., near the head of navigation on the Alabama River just below the confluence of the Coosa and Tallapoosa rivers, and in the rich , Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. . -- Alfa Al´fa n. 1. A plant (Macrochloa tenacissima) of North Africa; also, its fiber, used in paper making. Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALFA) today announced financial results for the three and nine months ended September September: see month. 30, 2006. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the quarter was $26,871,178, or $0.33 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared with operating income of $24,219,493, or $0.30 per diluted share, for the third quarter of 2005, a per share increase of 10.2%. Net income, which includes net realized investment gains, was $27,237,673, or $0.34 per diluted share, for the third quarter of 2006, compared with $25,102,904, or $0.31 per diluted share in 2005, a per share increase of 7.8%. Premiums and policy charges for the third quarter of 2006 increased 7.5% to $172,953,460. For the nine months ended September 30, 2006, operating income was $71,354,899 compared with operating income of $72,396,566 for the first nine months of 2005. On a per share basis, operating income decreased 2.0% to $0.88 per diluted share for the nine-month period in 2006 compared with $0.90 per diluted share for the same period in 2005. After net realized investment gains, net income was $72,883,563, or $0.90 per diluted share, for the first nine months of 2006, compared with net income of $75,228,407, or $0.93 per diluted share, for the same period in 2005, a per share decrease of 3.7%. Premiums and policy charges increased 9.1% to $512,801,354 for the first nine months of 2006. Alfa's Chairman, President and Chief Executive Officer, Jerry A. Newby, said, "I am pleased with our performance in the third quarter. Healthy top-line growth in both our property and casualty and life business segments contributed to these results. Our loss ratio, which is also a key component behind our operating performance, remains outstanding. The commitment of our agency force to deliver strong top-line growth, together with our management team's dedication to achieving consistent operating performance, continues to prevail in today's competitive market conditions. We look forward to the remainder of 2006 with anticipation of another solid year for Alfa Corporation." Alfa Corporation will host a conference call on Friday, October 20, at 10:30 a.m. Eastern time. Investors and other interested parties may access the teleconference by calling 1-800-289-0493 (access code 7339774), or via links located on Alfa's web site: www.alfains.com. A 30-day Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the play of the call will also be available from Alfa's web site. Alfa Corporation is engaged in insurance and financial activities through its subsidiaries. The common stock of Alfa Corporation is traded on the NASDAQ Global Select Market under the symbol ALFA. The associated investor supplement package for the third quarter ended September 30, 2006, may be found by clicking on the web cast link in the "Invest in Alfa" section of Alfa's web site and is also available at: http://www.irinfo.com/alfa/3q06fsg.pdf. Investors are cautioned that statements in this press release which relate to the future are, by their nature, uncertain and dependent upon numerous contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. - including political, economic, regulatory, climatic, competitive, legal, and technological - any of which could cause actual results and events to differ materially from those indicated in such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Additional information regarding these and other risk factors and uncertainties may be found in Alfa Corporation's filings with the Securities and Exchange Commission. [TABLE OMITTED] [TABLE OMITTED] |
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