 |
 |
|
 |
|
| SEPTEMBER 5, 2010 |
| LAST TRADED: |
$3.51 |
| CHANGE: |
+0.04 |
| OPEN: |
$3.47 |
| HIGH: |
$3.51 |
| LOW: |
$3.44 |
| VOLUME: |
4636 |
| |
|
| 52-WEEK |
| HIGH: |
$4.98 |
| LOW: |
$3.32 |
|
|
|
|
|
|
|
| |
|
 |
 |
| |
|
|
Press Releases | Articles
|
| Contact: |
Edward J. Lawson, President CEO and Chairman, 21st Century Holding Company
(954) 308-1257 or (954) 581-9993 |
|
21st CENTURY HOLDING COMPANY ANTICIPATES RECORD EARNINGS FOR 2006
|
Lauderdale Lakes
,
Florida
,
October 3, 2006
21st Century Holding Company (NASDAQ: TCHC), an insurance holding company, announced today that it is issuing record guidance for calendar years 2006 and 2007.
CEO, President and Chairman of the Board, Edward J. (Ted) Lawson, announced that he is issuing guidance for the Company’s calendar year 2006 of approximately $3.00 per share, before dilution and is starting guidance for calendar year 2007 at $4.00 to $5.00 per share, which will result in consecutive records for the Company.
Mr. Lawson said, “$3.00 per share for 2006 will beat the record earnings of $1.95 per share recorded in calendar year 2005 by over 50%. I am guiding now for several reasons. We have not experienced the same weather conditions as the prior two years and with developing El Nino conditions in the central and eastern Pacific, in which hurricane activity during such conditions is rare, reinsurance costs going forward should migrate lower next year. During this same time frame, our increased rates will be taking hold causing revenues and profitability to accelerate. On top of all this, our highly profitable general liability book of business is continuing to expand geographically across the country, as we are now producing business in 6 states - Florida, Georgia, Texas, Louisiana, Kentucky, and South Carolina with an additional 5 states set to open up within the next 12 months, which are California, Alabama, Arkansas, Missouri and Virginia. Furthermore, our shareholders can expect dividend increases to follow.”
Mr. Lawson continued, “I would like to take this time to thank our shareholders for their continued support. Maximizing shareholder value is a top priority of 21st Century Holding Company. I believe that the Company will continue on its path for substantial revenue and profitability growth this year and in the years to come.”
About the Company
The Company, through its subsidiaries, underwrites standard and non-standard personal automobile insurance, flood insurance, general liability insurance, mobile home insurance and homeowners’ property and casualty insurance in the State of Florida. The Company underwrites general liability coverage as an admitted carrier in the States of Louisiana, Texas and Alabama for more than 300 classes of business, including special events, as well as homeowners’ coverage in the State of Louisiana. The Company also operates as an approved (non-admitted) carrier in the States of Georgia and Kentucky offering the same general liability products. In addition, the Company has underwriting authority and processes claims for third party insurance companies. In addition to insurance services, the Company offers premium finance services to its insureds as well as insureds of certain third party insurance companies.
Safe harbor statements under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not historical fact are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” or “continue” or the other negative variations thereof or comparable terminology are intended to identify forward-looking statements. The risks and uncertainties include, without limitation, uncertainties related to estimates, assumptions and projections generally; inflation and other changes in economic conditions (including changes in interest rates and financial markets); pricing competition and other initiatives by competitors; ability to obtain regulatory approval for applications to underwrite in an additional jurisdiction or for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against the Company and any settlement thereof; risks related to the nature of the Company’s business; dependence on investment income and the composition of the Company’s investment portfolio; the adequacy of the Company’s liability for loss and loss adjustment expense; insurance agents; claims experience; limited experience in the insurance industry; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes and hail); changes in driving patterns and loss trends; acts of war and terrorist activities; court decisions and trends in litigation, and health care and auto repair costs; and other matters described from time to time by the Company in releases and publications, and in periodic reports and other documents filed with the United States Securities and Exchange Commission. In addition, investors should be aware that generally accepted accounting principles prescribe when a company may reserve for particular risks, including litigation exposures. Accordingly, results for a given reporting period could be significantly affected if and when a reserve is established for a major contingency. Reported results may therefore appear to be volatile in certain accounting periods.
#####
|
|
|
Press Releases | Articles
|
|
|
|
|
|
|
|
