Article: United States: PICO Holdings, Inc. Announces Fourth Quarter and Full Year 2008 Results.(Financial report)

PICO Holdings, Inc. reported shareholders' equity of $477.7 million ($25.36 per share) at December 31, 2008, compared to $501.3 million ($26.61 per share) at September 30, 2008, and $525.9 million ($27.92 per share) at December 31, 2007.

In July 2008, PICO's wholly-owned subsidiary Vidler Water Company, Inc. sold its remaining interest of 30,000 acre-feet of storage capacity in the Semitropic Water Banking and Exchange Program in California for $11.7 million. The sale added $8.7 million to pre-tax income for the third quarter and 2008 financial year.

In April 2008, PICO sold its 22.5% shareholding in Jungfraubahn Holding AG, a publicly-traded Swiss ...

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