Printer Friendly

AMERICAN PHYSICIANS SERVICE GROUP ANNOUNCES RESULTS OF OPERATIONS FOR SECOND QUARTER OF 1992

 AMERICAN PHYSICIANS SERVICE GROUP ANNOUNCES RESULTS OF OPERATIONS
 FOR SECOND QUARTER OF 1992
 AUSTIN, Texas, Aug. 14 /PRNewswire/ -- American Physicians Service Group, Inc. (NASDAQ: AMPH) today announced that for the three months ended June 30, 1992, revenues were $3,239,000 vs. $4,384,000 for the same period in 1991. The net loss was $413,000, or $0.11 per share, for the second quarter of 1992 compared to earnings of $161,000, or $0.04 per share, for the same quarter of 1991.
 For the six months ended June 30, 1992, APS reported revenues of $7,058,000 vs. $9,132,000 for the same period in 1991. The net loss was $373,000, or $.09 per share, for the six months ended June 30, 1992 compared to the net income of $283,000, or $.06 per share, for the same period in 1991.
 Kenneth Shifrin, chairman of the board, stated, "The decline in revenues and earnings was due to both the results of operations and non- recurring events. Operationally, our brokerage subsidiary posted lower revenue and net income due to uncertain market conditions and inventory losses. Financial management service revenues and net income were reduced due to the loss of a management contract and lower premium volume at the managed insurance company.
 Shifrin continued, "The contribution to APS' earnings by our affiliate, Prime Medical Services, Inc., improved substantially primarily due to acquisitions consummated by Prime Medical during 1992."
 Shifrin concluded, "The second quarter of 1991 included a non- recurring payment of $442,000 relating to the sale of a subsidiary. No comparable payment was received in 1992. During the second quarter of 1992, APS also established allowances for certain pending legal matters."
 APS is a management and financial services firm with subsidiaries and affiliates which provide: medical malpractice insurance services for doctors and hospitals; brokerage, financial planning and investment services to institutions and individuals; computer systems for medical clinics and university medical schools; management of diagnostic imaging and cardiac rehabilitation centers; third party administration services for self-insured and fully-insured medical and dental plans; and Hispanic Yellow Page directories. The company is headquartered in Austin, Texas, and maintains offices in San Antonio, Dallas and Little Rock.
 AMERICAN PHYSICIANS SERVICE GROUP, INC.
 Selected Financial Data
 (in thousands, except per share data)
 Periods Ended June 30 Three Months Ended Six Months Ended
 1992 1991 1992 1991
 Revenues $ 3,239 $ 4,384 $ 7,058 $ 9,132
 Earnings (Loss)
 Before Income
 Taxes $ (728) $ 238 $ (695) $ 451
 Net Earnings (Loss) $ (413) $ 161 $ (373) $ 283
 Net Earnings (Loss)
 Per Share (Fully
 Diluted) $ (.11) $ .04 $ (.09) $ .06
 Weighted Average
 Shares Used in
 Computation 3,737 4,398 4,074 4,393
 -0- 8/14/92
 /CONTACT: Kenneth Shifrin, chairman of the board, or W.H. Hayes, vice president-finance, 512-328-0888, both of American Physicians Service Group, Inc.
 (AMPH) CO: American Physicians Service Group ST: Texas IN: MTC SU: ERN


TM -- NY094 -- 0278 08/14/92 18:53 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 14, 1992
Words:492
Previous Article:HADSON ANNOUNCES SECOND QUARTER RESULTS
Next Article:THE MISCHER CORPORATION REPORTS SECOND QUARTER RESULTS FOR 1992
Topics:


Related Articles
AMERICAN PHYSICIANS SERVICE GROUP ANNOUNCES RESULTS OF OPERATIONS FOR THIRD QUARTER OF 1991
AMERICAN PHYSICIANS SERVICE GROUP REPORTS 1991 RESULTS
AMERICAN PHYSICIANS SERVICE GROUP ANNOUNCES RESULTS OF OPERATIONS FOR FIRST QUARTER OF 1992
UNITED AMERICAN HEALTHCARE CORPORATION ANNOUNCES STRONG FIRST-QUARTER RESULTS
JMC GROUP ANNOUNCES RECORD SECOND QUARTER RESULTS
AMERICAN PHYSICIANS SERVICE GROUP, INC. ANNOUNCES MAJOR INCREASE IN SECOND QUARTER RESULTS
JORDAN AMERICAN HOLDINGS, INC. REPORTS JUMP IN THIRD QUARTER REVENUES AND EARNINGS
AMERICAN PHYSICIANS SERVICE GROUP ANNOUNCES RESULTS OF OPERATIONS FOR FIRST QUARTER OF 1994
AMERICAN PHYSICIANS SERVICE GROUP, INC. EXPANDS THIRD QUARTER EARNINGS PER SHARE BY 75 PERCENT
AMERICAN PHYSICIANS SERVICE GROUP, INC. EARNINGS EXPAND 61 PERCENT IN 1995

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters