about aps
American Physicians Service Group, Inc. (APS) is an insurance and financial services firm with subsidiaries and affiliates which provide medical malpractice insurance and brokerage and investment services to institutions and high net worth individuals. APS started doing business in 1975 and has been publicly traded on NASDAQ since 1983 (Ticker symbol AMPH).
2007 marked one of the most momentous in our 32-year history. We took a significant step toward positioning APS for future growth with the acquisition of our long-time client, American Physicians Insurance Company (API), which now operates as a wholly-owned subsidiary of APS. By joining forces with API, an acquisition that closed on April 1, 2007, we have created a company with consolidated annual revenues of more than $80 million, total assets of over $280 million and total equity of more than $115 million.
Shortly after the acquisition, we completed a successful secondary stock offering in which we raised approximately $36 million of additional capital to further strengthen our balance sheet and position us for growth. And in November, 2007 A.M. Best Company advised us that they had assigned a financial strength rating of A- (Excellent) to API.
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American Physicians Service Group, Inc. Reports Dramatic Quarter-Over-Quarter Growth in Earnings; Increase in Book Value per Share
AUSTIN, TEXAS, May 5, 2008 – American Physicians Service Group, Inc. (“APS”) (NASDAQ: AMPH) today announced results for the quarter ended March 31, 2008. For the three months ended March 31, 2008, revenues were $19,632,000 compared to $8,887,000 for the same period last year. Net earnings were $3,380,000 or $.46 per diluted share, compared to a loss of $95,000 or $.03 per diluted share in the same period last year.
Earnings Call: May 6, 2008 at 9:30 A.M. CDT - A telephone playback of the conference call will be available through 5:00 P.M. CDT, Tuesday, May 13, 2008. Listeners should call (888) 203-1112 (domestic) or (719) 457-0820 (international) and use reservation number 4487723. To listen to the call via Webcast, please CLICK HERE.
American Physicians Service Group, Inc. Reports Record Annual Results: 275% increase in EPS; 64% increase in Book Value per Share