net of tax (206) (39) 155 533
Net income before
discontinued
operations 24,098 21,065 72,519 59,344
Discontinued operations,
net of tax (118) 11,024 2 10,777
Net income $23,980 $32,089 $72,521 $70,121
Weighted average shares
outstanding - basic 37,229 36,680 37,185 36,637
Weighted average shares
outstanding - diluted 37,521 37,098 37,513 37,090
Net income per share
- basic $0.64 $0.87 $1.95 $1.91
Net income per share
- diluted $0.64 $0.86 $1.93 $1.89
Combined ratio analysis:
Loss ratio 55.8 55.1 56.7 57.8
Expense ratio 32.5 31.7 32.1 31.9
Combined ratio 88.3 86.8 88.8 89.7
Certain prior period amounts have been reclassified to conform to the 2007
presentation. Earnings per share includes results of discontinued
operations. The presentation above is not in conformity with generally
accepted accounting principles (GAAP) which requires earnings per share
for discontinued operations to be disclosed separately.
UNITED AMERICA INDEMNITY, LTD.
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data)
ASSETS As of As of
September 30, December 31,
2007 2006
Bonds:
Available for sale securities,
at fair value (amortized cost: 2007
-
'/>"/>
| SOURCE United America Indemnity, Ltd. Copyright©2007 PR Newswire. All rights reserved |