Printer Friendly

WESTBRIDGE CAPITAL REPORTS SECOND QUARTER RESULTS

 FORT WORTH, Texas, July 28 /PRNewswire/ -- Westbridge Capital Corp. (AMEX: WBC), a supplemental health insurer, today reported that net income for the second quarter ended June 30, 1993, rose to $831,000, equal to 18 cents per share, compared to net income of $400,000, or 9 cents per share, for the second quarter of 1992. Total quarterly revenues for the comparative periods were $19,025,000 and $13,845,000, respectively.
 For the recent six months, Westbridge Capital's net income rose to $1,505,000, equal to 33 cents per share, on total revenues of $39,567,000. This compared with income of $648,000, or 15 cents per share (excluding a one-time gain of $1,134,000, or 26 cents per share, from a change in an accounting principle), and revenues of $28,611,000 reported in the first half of 1992.
 Martin E. Kantor, chairman and chief executive officer, noted that the company's improved results were attributable principally to positive operating leverage on expanded revenues, to which two recent acquisitions made substantive contributions. "We expect 1993 will continue to be a very good year for Westbridge," he said.
 WESTBRIDGE CAPITAL CORP.
 (In thousands, except per-share data)
 Periods ended Three Months Six Months
 June 30 1993 1992 1993 1992
 Total revenues $19,025 $13,845 $39,567 $28,611
 Income before cumulative
 effect of change in
 accounting principle 831 400 1,505 648
 Cumulative effect on
 prior years of change
 in accounting for
 income taxes -- -- -- 1,134
 Net income 831 400 1,505 1,782
 Earnings Per Share:
 Income before cumulative
 effect of change in
 accounting principle $0.18 $0.09 $0.33 $0.15
 Cumulative effect of
 change in accounting
 principle -- -- -- .26
 Net income $0.18 $0.09 $0.33 $0.41
 Weighted average shares
 outstanding 4,539 4,387 4,544 4,293
 -0- 7/28/93
 /CONTACT: Michael C. Batte, vice president and chief financial officer of Westbridge Capital Corp., 817-878-3300/
 (WBC)


CO: Westbridge Capital Corp. ST: Texas IN: INS SU: ERN

CK-SM -- NY033 -- 7239 07/28/93 11:08 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 28, 1993
Words:346
Previous Article:ELECTROCOM AUTOMATION REPORTS SECOND QUARTER, FIRST HALF RESULTS
Next Article:THE COMMON FUND APPOINTS BETTY K. PARKER VICE PRESIDENT
Topics:

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