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Article: DCAP Group Reports Results for First Quarter 2008.(Financial report)
- Article from:
- Business Wire
- Article date:
- May 16, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HEWLETT, N.Y. -- DCAP Group, Inc. (NASDAQ: DCAP), the largest chain of independent storefront insurance agencies in the Northeast, today reported a net loss for the first quarter of 2008 of $229,658 (or ($0.08) per diluted share) as compared to net income of $88,794 in 2007 (or $0.03 per diluted share). Net loss from continuing operations was $109,548 in 2008 as compared to a net income from continuing operations of $50,929 in 2007. Loss from discontinued operations, net of tax, was $120,110, in 2008, as compared to a net income of $37,865 in 2007.
First Quarter commentary
"The difficult market conditions experienced during calendar years 2006 and 2007 ...