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AMERICAN PHYSICIANS SERVICE GROUP REPORTS 1991 RESULTS

 AMERICAN PHYSICIANS SERVICE GROUP REPORTS 1991 RESULTS
 AUSTIN, Texas, March 17 /PRNewswire/ -- American Physicians Service


Group, Inc. (NASDAQ: AMPH) today announced 1991 year-end results.
 For the three months ended Dec. 31, 1991, revenues were $4,643,000 vs. $4,478,000 attained in the prior year same period. Net income was $161,000 vs. $200,000 in the fourth quarter of last year. For the full year, APS reported total revenues of $17.3 million vs. $14.7 million in 1990. Net earnings were $496,000 ($.11 per share) vs. $307,000 ($.07 per share) in 1990.
 Ken Shifrin, APS chairman of the board stated, "1991 marked a year of record revenues and our second year of increased earnings. Key ingredients in the success were APS Financial, which had record earnings and Prime Medical Services, Inc. ("Prime"). Our 42 percent stake in Prime is following the course that we began in late 1989. Prime registered its first profit in five years, posting net income of $303,000 in 1991 vs. a loss of $538,000 in 1990."
 Shifrin added, "For 1992 we are continuing our efforts to expand our current operations, including that of our insurance services operation. Our new president of insurance services has already made significant progress in cost control and business retention. We are also looking at opportunities to grow through acquisition and by marketing our services to self-insured groups and hospitals."
 APS is a financial services firm, with subsidiaries and affiliates that provide: medical malpractice insurance; third party medical and dental administration services; brokerage, financial planning and investment services to individuals and institutions; computer systems for medical clinics and university medical schools; Hispanic yellow page directories; and management of cardiac rehabilitation clinics and diagnostic imaging centers through its Prime Medical affiliate. Its corporate headquarters are located in Austin with regional offices in San Antonio, Dallas and Little Rock.
 AMERICAN PHYSICIANS SERVICE GROUP, INC.
 SELECTED FINANCIAL DATA
 (in thousands, except per share data)
 Periods ended Three months Year
 Dec. 31, 1991 1990 1991 1990
 Revenues $ 4,643 4,478 17,319 14,697
 Earnings before
 Income Taxes 229 306 675 687
 Net Earnings $ 161 200 496 307
 Net Earnings Per
 Share (Fully
 Diluted) $ .04 .05 .11 .07
 Weighted Average
 Shares Used in
 Computation 4,455 4,424 4,417 4,495
 -0- 3/17/92
 /CONTACT: Kenneth Shifrin, chairman of the board, or W.H. Hayes, vice president-finance of American Physicians Service Group, 412-328-0888/
 (AMPH) CO: American Physicians Service Group Inc. ST: Texas IN: HEA SU: ERN


SH -- NY020 -- 8695 03/17/92 10:05 EST
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Publication:PR Newswire
Date:Mar 17, 1992
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