EMPLOYEE BENEFIT PLANS ESTIMATES SECOND-QUARTER EARNINGS
EMPLOYEE BENEFIT PLANS ESTIMATES SECOND-QUARTER EARNINGS MINNEAPOLIS, Jan. 9 /PRNewswire/ -- Employee Benefit Plans, Inc.
(EBP)(NYSE: EBP), today estimated results for the second quarter ended Nov. 30, 1991. The company anticipates revenues of approximately $53.4 million and operating earnings of approximately $6.0 million, compared with $38.2 million and $4.5 million, respectively, over the year-earlier period. The company expects net income of approximately $2.8 million or $0.34 per share, compared with $2.4 million or $0.34 per share a year ago. In addition, the company estimates a loss ratio of approximately 52.1 percent for the quarter, compared with 52.4 percent for the first fiscal quarter ended Aug. 31, 1991.
The company attributes its lower-than-expected results to a 39 percent revenue increase, compared with an approximate 43 percent increase forecasted by securities analysts. The company also said its interest income was lower than anticipated due to declining short-term interest rates, resulting in lower invested asset yields. EBP will issue a full release concurrently with its 10-Q on Jan. 14. -0- 1/9/92 /CONTACT: Lynne M. Warne of Employee Benefit Plans, 612-525-4352/ (EBPI) CO: Employee Benefit Plans, Inc. ST: Minnesota IN: SU: ERN
AL -- MN005 -- 8381 01/09/92 16:16 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 9, 1992|
|Previous Article:||ALDUS ANTICIPATES WEAKER FOURTH-QUARTER RESULTS|
|Next Article:||UNITED FOOD AND COMMERCIAL WORKERS LOCAL 876 CONTINUES NEGOTIATIONS WITH KROGER, A&P|