Fortegra Financial Corporation, together with its subsidiaries, operates as an insurance services company in the United States. It offers products that protect lenders and their customers from death, disability, or other events that could impair their ability to repay a debt. The company offers credit insurance, debt protection, warranty and other service contracts, motor club solutions, and membership plans under the name of Life of the South, ProtectCELL, 4Warranty, Continental Car Club, United Motor Club, and Auto Knight Motor Club brands to consumer finance companies, regional banks, community banks, retailers, small loan companies, warranty administrators, automobile dealers, vacation o...
10151 Deerwood Park Boulevard
Jacksonville, FL 32256
Founded in 1981
Fortegra Financial Corporation Announces Unaudited Consolidated Earnings Results for First Quarter Ended Mar. 31, 2014 ; Reiterates Earnings Guidance for the Year 2014
May 12 14
Fortegra Financial Corporation announced unaudited consolidated earnings results for first quarter ended Mar. 31, 2014. For the quarter, the company reported total revenues of $90,528,000, income from continuing operations before income taxes of $5,741,000, income from continuing operations before non-controlling interests of $3,759,000, net income attributable to company of $2,898,000 or $0.14 per diluted share, adjusted EBITDA from continuing operations of $10,844,000, net income from continuing operations - non-GAAP basis of $3,954,000 or $0.19 per diluted share compared to the total revenues of $80,164,000, income from continuing operations before income taxes of $2,531,000, income from continuing operations before non-controlling interests of $2,049,000, net income attributable to company of $2,493,000 or $0.12 per diluted share, adjusted EBITDA from continuing operations of $7,573,000, net income from continuing operations - non-GAAP basis of $2,261,000 or $0.11 per diluted share for the same quarter a year ago.
Based on the company's performance for the first three months of 2014, management's operating assumptions for the remainder of the year and other factors, the company is reiterating its 2014 guidance of net revenue growth of 7% to 9% and Adjusted EBITDA margin of 32% to 34%. It should be noted that the Company typically experiences some margin pressure in its second quarter due to seasonality.