AssuranceAmerica Corporation Announces First Quarter '05 Record Premium, Revenue and Profit.ATLANTA -- Atlanta based ASSURANCEAMERICA CORPORATION (OCT OCT ornithine carbamoyltransferase; oxytocin challenge test. OCT ornithine carbamoyl transferase, a liver specific enzyme. OCT Oxytocin stress test, see there BB: ASAM ASAM American Society of Addiction Medicine ASAM Advanced Surface-to-Air Missile ASAM Advanced Services Access Manager ASAM ATM Subscriber Access Multiplexer (Alcatel) ASAM Association for Solidarity with Asylum Seekers and Migrants .OB), today announced its unaudited results for the calendar first quarter of 2005 which is also the first quarter of its fiscal year. Total premiums produced in its wholesale entities, made up of its Managing General Agency and Insurance Carrier, and its retail entity made up of its 32 insurance agencies, was $27,740,142 for the first quarter of 2005, a 24% increase of the first quarter of 2004. Revenue was $7,806,500 for the first quarter of 2005, a 29% increase over the same period in 2004. Pre-tax profit was $744,710, up 348% over the $214,337 generated in the first quarter of 2004. In announcing first quarter results, Lawrence (Bud) Stumbaugh, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AssuranceAmerica Corporation said, "We believed in the very early days of our company that geographical diversification into new states, better pricing of our products, and higher volume processed at lower costs through improved automation would enhance our results. Through the combined efforts of our company's associates at every level and through our partners who sell our products and those who give us the privilege of selling theirs, our early beliefs have turned into measurable reality." AssuranceAmerica focuses on the specialty automobile insurance marketplace, primarily in Florida, Georgia and South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. . Its principal operating subsidiaries are TrustWay Insurance, which sells personal automobile insurance policies through its 32 retail agencies, AssuranceAmerica Managing General Agency, and AssuranceAmerica Insurance Company. This press release includes statements that may constitute "forward-looking" statements. These statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. 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. inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. |
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