Article: PICO Holdings, Inc. Announces Fourth Quarter and Full Year 2006 Results.

LA JOLLA, Calif., March 12 /PRNewswire-FirstCall/ -- PICO Holdings, Inc. reported shareholders' equity of $405.2 million ($25.52 per share) at December 31, 2006, compared to shareholders' equity of $300.9 million ($22.67 per share) at the end of 2005. Net income of $29.2 million ($1.95 per share) was recorded for 2006, compared to net income of $16.2 million ($1.25 per share) in 2005.

During 2006, shareholders' equity increased by $104.3 million, representing growth in book value per share of 12.4%. The principal contributors to the growth in shareholders' equity were the year's $29.2 million in net income, and the issuance of 2.6 million new shares for net ...

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