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Article: American Independence Corp. Announces Net Income for Three Months Ended March 31, 2003.
- Article from:
- Business Wire
- Article date:
- May 2, 2003
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Business Editors
NEW YORK--(BUSINESS WIRE)--May 2, 2003
American Independence Corp. (NASDAQ: AMIC) today reported net income of $2.0 million ($.24 per share diluted) for the three months ended March 31, 2003.
Net income from continuing operations amounted to $1.9 million ($.23 per share diluted) and revenues amounted to $11.2 million for the same period. Net income includes $0.5 million of amortization and depreciation primarily related to intangible assets that will not result in cash utilization.
Roy T.K. Thung, Chief Executive Officer, commented, "We are pleased to report that we were quite profitable in our first full quarter as ...