AssuranceAmerica Corporation Announces Ten-Fold Increase In First Quarter '04 Profit Over First Quarter '03.Business Editors ATLANTA--(BUSINESS WIRE)--April 15, 2004 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) announces a first quarter profit of $225,000 (unaudited) before income tax expense. This compares to $19,000 (unaudited) pre tax profit for the same period last year. In addition, the month of February saw the company's insurance carrier produce a record amount of written premium for one month with the entire quarter's premium volume also surpassing any previous 3-month period. "Our efforts to increase the top line while controlling expenses have begun to pay off with an enhanced bottom line. While we still have a long way to go to reach our full profit potential, we are pleased with our progress to date, and are happy to produce a positive bottom line for the first quarter of '04." said 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. . AssuranceAmerica focuses on the non-standard 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 AssetAmerica Insurance Agencies, which sells personal automobile insurance policies through its 31 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 inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. |
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