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Article: The Midland Company Reports Fourth Quarter and Full-Year 2002 Results; * Fourth Quarter Net Income Ahead of Expectations at 43 Cents Per Share * Fourth Quarter Property and Casualty Premiums Up 8.9 Percent * Rate Actions Contribute to Positive Outlook for 2003.
- Article from:
- PR Newswire
- Article date:
- February 6, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. 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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CINCINNATI -- CINCINNATI, Feb. 6 /PRNewswire/ -- The Midland Company , a highly focused provider of specialty insurance products and services, today reported fourth quarter 2002 net income before capital gains/losses of $7.7 million, or 43 cents per share, compared with $9.3 million, or 51 cents per share, in 2001. These results were ahead of the previously announced expectations. Net income (including capital gains/losses) also was $7.7 million, or 43 cents per share, for the quarter compared to net income of $9.7 million, or 53 cents per share, last year, which included $0.4 million, or 2 cents per share, of after-tax realized investment gains. Revenue increased 9.1 ...