Hallmark Financial Services, Inc. announces first quarter
Hallmark Financial Services, Inc. today announced a quarterly profit reflects $ 5.0 million for the first quarter to March 31, 2007, representing an increase of 105% compared to a profit of $ 2.4 million for the first quarter of 2006. Verwässerter Based on a net income of the common shareholders was $ 0.24 per share for the three months to March 31, 2007 compared to $ 0.14 per share for the same period in 2006. During the quarter to 31 March 2007, Hall Mark reported sales of $ 64.0 million, an increase of 44% compared to 44.5 million in total revenue for first quarter 2006.
Mark J. Morrison, President and Chief Executive Officer, said: “We are very pleased to report positive results the company has achieved in the first quarter. The higher revenues for the quarter was mainly the result of the execution of our plan to increase the retention of business we produce, which had considered following the increase in our Bottom-Line. ”
Mark E. Schwarz, Executive Chairman of Hallmark, said: “Tables underwriting business remains our homes and resulting in a combined ratio of 90.5% for the first quarter of 2007. Annualised, the return on equity has averaged 13% and should Improving the future as a result of the persistent increase the deduction provided in the volume of premiums. Year over year growth in book value per share of 17% at the end of the quarter. “
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