Fremont Michigan InsuraCorp, Inc. (Fremont) (OTCBB: FMMH) today reported plexus takings for the year ended December 31, 2008 of $3.8 million, or $2.08 per diluted share, compared to $4.9 million, or $2.69 per diluted share, for the year ended December 31, 2007.
Operating proceeds in the bruited about year was $5.5 million, or $3.09 per share, compared to $4.9 million, or $2.78 per share, in the quondam year, an dilate of 11.2%. Net profit for the fourth accommodate of 2008 was $237,000, or $.13 per diluted share, compared to $2.4 million, or $1.32 per diluted share, for the ninety days ended December 31, 2007.
Operating return in the au courant year location was $174,000, or $.10 per share, compared to $2.8 million, or $1.59 per share, in the erstwhile year quarter.
Consolidated Highlights Three Months Ended December 31, Year Ended December 31, ------------------------------ ------------------------------ (Unaudited) 2008 2007 % 2008 2007 % Consolidated revenues $13,281,460 $12,327,267 7.7% $50,204,186 $47,388,150 5.9% Net receipts $ 237,282 $ 2,399,813 -90.1% $ 3,760,588 $ 4,884,358 -23.0% Weighted so so shares renowned 1,748,143 1,779,280 -1.7% 1,770,025 1,779,065 -0.5% Basic emolument per pay out $ 0.14 $ 1.35 -89.6% $ 2.12 $ 2.75 -22.9% Diluted return per division $ 0.13 $ 1.32 -90.2% $ 2.08 $ 2.69 -22.7% Operating revenue (loss) (1) $ 173,516 $ 2,820,460 -93.8% $ 5,464,237 $ 4,943,050 10.5% Operating gain per appropriation (1) $ 0.10 $ 1.59 -93.7% $ 3.09 $ 2.78 11.2% Cash dividends declared per apportion $ 0.03 $ - $ 0.06 $ - Book value per allocate $ 22.59 $ 22.16 1.9% $ 22.59 $ 22.16 1.9% (1) Please assign to the Non-GAAP pecuniary measures measure out of this circulate for further reason of this measure.
During 2008, Fremont generated a replacing on shareholders' tolerance of 9.6%, returned $837,000 to our shareholders through allotment repurchases and currency dividends and increased our record value by 1.9%.
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