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UNITED INSURANCE COMPANIES, INC. ANNOUNCES FIRST QUARTER RESULTS

 UNITED INSURANCE COMPANIES, INC. ANNOUNCES FIRST QUARTER RESULTS
 DALLAS, April 28 /PRNewswire/ -- United Insurance Companies, Inc. (NASDAQ: UICI) reported net income for the first quarter of 1992 of $5,891,000 or $1.38 per share as compared to $3,259,000 or $0.79 per share for the same period in 1991. Net income for 1992 included $0.36 per share of gains on sales of investments as compared to $0.07 per share for 1991.
 UNITED INSURANCE COMPANIES, INC.
 First Quarter Operating Results
 Three Months ended
 March 31 1992 1991
 Revenues $91,540,000 $70,166,000
 Net Income 5,891,000 3,259,000
 Primary Net Income Per Share $1.72 $0.97
 Fully Diluted Net Income Per Share $1.38 $0.79
 The company also announced that the chairman of the board of directors has appointed a special committee to consider the effects of a stock repurchase program and the effects of the redemption of the company's 6-3/4 percent convertible subordinated debentures due 2006 on the company's capital position. The chairman indicated that he has instructed the committee to prepare a report on their findings and that their report would be considered by the board of directors before any action is taken by the company.
 -0- 4/28/92
 /CONTACT: Vernon R. Woelke, treasurer of United Insurance Companies, Inc., 214-960-8497/
 (UICI) CO: United Insurance Companies Inc. ST: Texas IN: INS SU: ERN


AH -- NY053 -- 3714 04/28/92 11:17 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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