American Physicians Service Group, Inc. announces results of operations for third quarter of 1994.AUSTIN, Texas--(BUSINESS WIRE)--Nov. 2, 1994--American Physicians Service Group, Inc. ("APS") (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 :AMPH AMPH Amphiphysin AMPH Amphibious ) today announced that for the three months ended Sept. 30, 1994, revenues were $4,251,000 vs. $3,889,000 for the same period in 1993. Net income of $287,000, or $0.08 per share, for the third quarter of 1994 compared to net income of $268,000, or $0.07 per share, for the same quarter of 1993. For the nine months ended Sept. 30, 1994, APS reported revenues of $12,115,000 vs. $12,843,000 for the same period in 1993. Net income of $568,000 or $.16 per share, for the nine months ended Sept. 30, 1994 compared to net income of $888,000 or $.24 per share, for the same period in 1993. Ken Shifrin, chairman of the Board stated, "Increased deliveries at our medical data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a subsidiary helped push revenues ahead of the same quarter in 1993 and to their highest quarterly level this year. We remain about 6 percent behind last year's year-to-date revenues due to lessened less·en v. less·ened, less·en·ing, less·ens v.tr. 1. To make less; reduce. 2. Archaic To make little of; belittle. v.intr. To become less; decrease. activity at our broker/dealer, a result of the negative impact that higher interest rates have had on the bond market. Net income for the quarter ended Sept. 30, 1994 was up slightly from the comparable quarter of 1993, primarily due to lower legal and litigation-related expenses. For the nine months ended Sept. 30, 1994 net income was down significantly from the comparable period in 1993, a result of the lower broker/dealer revenues." Shifrin continued, "Our affiliate, Prime Medical Services, Inc. (NASDAQ: PMSI PMSI Purchase-Money Security Interest (generally a lien resulting from a purchase such as a car loan) PMSI Physician Micro Systems, Inc. PMSI Programme de Médicalisation des Systèmes d'Information Hospitaliers PMSI Popular Mortgage Servicing, Inc. ) made a major step in advancing its expansion plans when it announced a $15 million financing during the quarter. We expect both the equity in earnings and the market value of our three million Prime shares to show continued growth." APS is a management and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm with subsidiaries and affiliates which provide: medical malpractice Improper, unskilled, or negligent treatment of a patient by a physician, dentist, nurse, pharmacist, or other health care professional. insurance services for doctors and hospitals; brokerage and investment services to institutions and individuals; computer systems for medical clinics and university medical schools; management of lithotripsy Lithotripsy Definition Lithotripsy is the use of high-energy shock waves to fragment and disintegrate kidney stones. The shock wave, created by using a high-voltage spark or an electromagnetic impulse, is focused on the stone. and imaging centers; and publications promoting trade between the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Mexico. The company is headquartered in Austin, Texas and maintains offices in San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , Dallas, Houston, and Little Rock. -0-
AMERICAN PHYSICIANS SERVICE GROUP, INC.
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SELECTED FINANCIAL DATA
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(In thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
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1994 1993 1994 1993
---- ---- ---- ----
Revenues $4,251 $3,889 $12,115 $12,843
Earnings Before
Income Taxes 444 238 861 1,096
------ ------ ------- -------
Net Earnings $ 287 $ 268 $ 568 $ 888
Net Earnings Per
Common Share $ .08 $ .07 $ .16 $ .24
Fully diluted $ .08 $ .07 $ .16 $ .24
Weighted Average
Shares Used in
Computation
Primary 3,523 3,677 3,516 3,635
Fully Diluted 3,523 3,677 3,516 3,635
CONTACT: American Physicians Service Group Inc., Austin Kenneth Shifrin or W.H. Hayes, 512/328-0888 |
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