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PENN TREATY AMERICAN SECOND QUARTER RESULTS REFLECT CONTINUED GROWTH

 PENN TREATY AMERICAN SECOND QUARTER RESULTS REFLECT CONTINUED GROWTH
 ALLENTOWN, Pa., July 31 /PRNewswire/ -- Penn Treaty American Corporation (NASDAQ: PTAC) today announced increased sales and earnings for the second quarter and six-month 1992 operating results.
 Net income for the three months ended June 30, 1992, totalled $1,804,010, an 8 percent increase over the prior year's comparable period of $1,674,349. Earnings per share increased 8 percent to 57 cents per share compared to 53 cents per share for the same three- month period in the previous year. Premium revenue for the quarter totalled $15,282,283, a 13 percent increase over the previous year's three-month total of $13,479,179.
 For the six months ended June 30, 1992, net income totalled $3,643,661, a 13 percent increase over the previous year's six-month total of $3,231,994. Earnings per share increased 13 percent to $1.16 per share compared to $1.03 per share for the same six-month period in the previous year. Premium revenue for the six-month period totalled $30,364,150, a 15 percent increase over the previous year's six-month total of $26,427,067.
 Irving Levit, president and chief executive officer of the company, stated: "Management is pleased with the second quarter results as the growth in premium reflects an increase in new business resulting from the company's ongoing expansion throughout the country. Additionally, the market is responding very well to the company's new and upgraded policies as we strive to meet the many needs of the senior population.
 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 skilled, intermediate and custodial nursing home care and home health care. The company is currently licensed to conduct business in 44 states and the District of Columbia.
 /delval/
 -0- 7/31/92
 /CONTACT: Michael F. Grill, treasurer of Penn Treaty American, 800-222-3469/
 (PTAC) CO: Penn Treaty American Corporation ST: Pennsylvania IN: INS SU: ERN


MJ-MK -- PH009 -- 5533 07/31/92 10:56 EDT
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Publication:PR Newswire
Date:Jul 31, 1992
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