Security National Financial Corporation Reports Financial Results for the First Quarter Ended March 31, 2006.SALT LAKE CITY -- Security National Financial Corporation (SNFC SNFC Sunday Night Film Club SNFC Secteur du Nord des Forces Canadiennes (Canada) SNFC Sacramento Natural Foods Co-op SNFC Scottish National Flying Club SNFC Standing Naval Force Channel ) (Nasdaq: SNFCA) announced financial results for the first quarter ended March 31, 2006. SNFC announced revenues of $32,404,000 for the three months ended March 31, 2006. This represents a 16% increase for 2006. Pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta earnings from operations for the three-month period in 2006 increased 397% from $262,000 in 2005 to $1,302,000 in 2006. Net earnings for the three month period in 2006 increased 262% from $280,000 to $1,014,000. SNFC has three business segments. The following table shows the revenues and earnings before taxes for the three months ended March 31, 2006 as compared to 2005 for each of the three business segments:
Revenues Earnings before Taxes
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2006 2005 % 2006 2005 %
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Life
Insurance $10,911,000 $10,057,000 8 $1,106,000 $ 638,000 73
Cemeteries/
Mortuaries 3,317,000 3,193,000 4 372,000 354,000 5
Mortgages 18,176,000 14,573,000 25 (176,000) (730,000) 76
------------ ------------ --- ----------- ---------- ----
Total $32,404,000 $27,823,000 16% $1,302,000 $ 262,000 397%
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Net earnings per common share were $.16 for the three months ended March 31, 2006, compared to $.05 per share for the prior year as adjusted for the effect of annual stock dividends. Book value per common share Book Value Per Common Share A measure used by owners of common shares in a firm to determine the level of safety associated with each individual share after all debts are paid accordingly. Formula: was $7.36 as of March 31, 2006, compared to $7.02 as of December December: see month. 31, 2005. The Company has two classes of common stock outstanding, Class A and Class C. The Class C shares share in distribution of earnings and capital on a 10-for-1 basis with the Class A shares; therefore, for earnings per share and book value per share calculations, the Class C shares are converted to Class A shares on a 10-for-1 basis. There were 6,511,542 Class A equivalent shares outstanding as of March 31, 2006. If there are any questions, please contact Mr. Scott M. Quist or Mr. Stephen Stephen, 1097?–1154, king of England (1135–54). The son of Stephen, count of Blois and Chartres, and Adela, daughter of William I of England, he was brought up by his uncle, Henry I of England, who presented him with estates in England and France and M. Sill sill or sheet In geology, a tabular igneous intrusion emplaced parallel to the bedding of the enclosing rock. Although they may have inclined orientations, nearly horizontal sills are most common. at: Security National Financial Corporation P.O. Box 57250 Salt Lake City, Utah 84157 Phone (801) 264-1060 Fax (801) 265-9882 |
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