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PENN TREATY AMERICAN CORPORATION'S SECOND QUARTER RESULTS REFLECT CONTINUED GROWTH

 ALLENTOWN, Pa., Aug. 6 /PRNewswire/ -- Penn Treaty American Corporation (NASDAQ: PTAC) today announced earnings for the second quarter and six-month 1993 operating results.
 Premium revenue for the quarter totalled $16,642,371, a 9 percent increase over the previous year's three-month total of $15,282,283.
 Net income for the three months ended June 30, 1993, totalled $1,329,764, a 30 percent decrease over the prior year's comparable period of $1,909,460. Earnings per share decreased 28 percent to $.43 per share compared to $.60 per share for the same three-month period in the previous year.
 Premium revenue for the six-month period totalled $33,504,944, a 10 percent increase over the previous year's six-month total of $30,364,150. For the six months ended June 30, 1993, net income totalled $2,769,578, a 26 percent decrease over the previous year's six- month total of $3,721,661. Earnings per share decreased 25 percent to $.88 per share compared to $1.18 per share for the same six-month period in the previous year.
 The company stated that premium revenues, once again, increased over the comparable period in the prior year. Premium growth from increased sales and rate increases has helped to reduce the negative impact of higher than anticipated loss ratios on home health care policies. While current earnings have decreased from the comparable period in 1992, the current earnings have improved over the third and fourth quarters of 1992. The company is optimistic that increased sales, the development of new policies and recent new product approval in California and the state of Washington will enable it to sustain its growth and continue to produce positive results.
 Penn Treaty American Corporation, through its wholly owned direct and indirect subsidiaries, Penn Treaty Life Insurance Company, Network America Life Insurance Company and Cher-Britt Service Company, is primarily engaged in the underwriting, marketing and sale of individual fixed, defined benefit, accident and health insurance products principally covering long-term nursing home care and home health care. The company is licensed to conduct business in 44 states and the District of Columbia.
 /delval/
 -0- 8/6/93
 /CONTACT: Michael F. Grill of Penn Treaty, 800-222-3469/
 (PTAC)


CO: Penn Treaty American Corporation ST: Pennsylvania IN: INS SU: ERN

CC-MK -- PH018 -- 0296 08/06/93 11:56 EDT
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Publication:PR Newswire
Date:Aug 6, 1993
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