Austin, Texas-based American Physicians Service Group Inc. announced revenue increases for the fourth quarter and year-end 2005. APS is a management and financial services firm with subsidiaries and affiliates, which provide: medical malpractice insurance services for doctors; and brokerage and investment services to institutions and high net worth individuals.
The company said for the three months ended Dec. 31, 2005, revenues were $11,096,000 versus $9,843,000 in the comparable period a year ago. Net earnings for the quarter were $1,845,000, compared to $1,603,000 in last year’s fourth quarter. Diluted earnings per share were $0.64 for the quarter ended Dec. 31, 2005, versus $0.58 in the year-ago period.
For the year ended Dec.31, 2005, APS reported total revenues of $33,973,000 versus $32,021,000 in 2004. Net earnings were $5,460,000 in 2005 compared to $2,152,000 in 2004. Diluted earnings per share were $1.86 versus $0.76 in 2004.
Ken Shifrin, chairman of the Board, stated, “In 2005 we maintained our focus on developing our two core businesses and strengthening our balance sheet. Although combined operating income from our two segments was down less than 1 percent from last year, our financial services segment recorded its second best year ever, and our insurance segment did an admirable job of maintaining parity with 2004 in what was a much more competitive environment.”
APS headquartered in Austin, and maintains offices in Dallas and Houston.
Topics Profit Loss
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