Last $2.46 USD
Change Today +0.01 / 0.41%
Volume 4.8K
FAC On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

first acceptance corp (FAC) Snapshot

Open
$2.52
Previous Close
$2.45
Day High
$2.52
Day Low
$2.44
52 Week High
01/17/14 - $2.95
52 Week Low
10/7/13 - $1.45
Market Cap
100.8M
Average Volume 10 Days
55.1K
EPS TTM
$0.18
Shares Outstanding
41.0M
EX-Date
06/14/02
P/E TM
13.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for FIRST ACCEPTANCE CORP (FAC)

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first acceptance corp (FAC) Details

First Acceptance Corporation, through its subsidiaries, is engaged in selling, servicing, and underwriting non-standard personal automobile insurance policies and related products in the United States. The company operates in two segments, Insurance, and Real Estate and Corporate. It issues automobile insurance policies to individuals who are categorized as non-standard based primarily on their inability or unwillingness to obtain insurance coverage from standard carriers due to various factors, including their payment history or need for monthly payment plans, failure to maintain continuous insurance coverage, or driving record. The company also offers optional products that provide ancillary reimbursements and benefits in the event of an automobile accident, including products that provide reimbursements for medical expenses and hospital stays as a result of injuries sustained in an automobile accident, automobile towing and rental, bail bond premiums, and ambulance services; and underwrites a tenant homeowner policy that provides contents and liability coverage to customers who are renters. In addition, it is engaged in the disposition of real estate held for sale. The company markets its products under the Acceptance Insurance, Yale Insurance, and Insurance Plus names. First Acceptance Corporation primarily distributes its products through its retail locations, as well as through call centers and Internet. As of March 4, 2014, it leased and operated 356 retail locations. The company was founded in 1969 and is headquartered in Nashville, Tennessee.

1,100 Employees
Last Reported Date: 03/4/14
Founded in 1969

first acceptance corp (FAC) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $800.0K
President
Total Annual Compensation: $570.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $148.6K
Senior Vice President of Operations
Total Annual Compensation: $360.0K
Vice President, Treasurer and Secretary
Total Annual Compensation: $224.9K
Compensation as of Fiscal Year 2013.

first acceptance corp (FAC) Key Developments

First Acceptance Corp. Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2014

First Acceptance Corp. reported consolidated unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company announced revenues of $62.5 million compared with $59.2 million for the same period in the prior year. Income before income taxes was $0.547 million, compared with $2.117 million for the same period in the prior year. Net income was $0.511 million, or $0.01 per share on a basic and diluted basis, compared with $2.024 million, or $0.05 per share on a basic and diluted basis, for the same period in the prior year. Premiums earned were $51.7 million, compared with $49.4 million for the same period in the prior year. This improvement was primarily due to a higher percentage of full coverage policies sold and recent pricing actions.

First Acceptance Corp., Annual General Meeting, May 13, 2014

First Acceptance Corp., Annual General Meeting, May 13, 2014., at 10:00 Central Standard Time. Location: 3813 Green Hills Village Drive. Agenda: To consider election of the nine directors set forth in this proxy statement to serve until the next annual meeting of stockholders or until their respective successors are duly elected and qualified; to consider conduct an advisory vote on executive compensation; to consider ratification of the appointment of Ernst & Young LLP as independent registered public accounting firm for 2014; and to consider any other matters that may properly come before the meeting and any adjournments or postponements of the meeting.

First Acceptance Corporation Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

First Acceptance Corporation announced earnings results for the fourth quarter and year ended December 31, 2013. The company has reported that net income for the fourth quarter ended December 31, 2013 was $3.16 million, or $0.07 per share, compared to $96,000, or $0 per share, for the same quarter ended December 31, 2012. Revenues for the fourth quarter ended December 31, 2013 were $59.15 million, compared to $55.08 million for the same quarter ended December 31, 2012. Net income for the year ended December 31, 2013 was $9.18 million, or $0.22 per share, compared to a net loss of $9.04 million, or $0.22 loss per share, for the year ended December 31, 2012. Revenues for the year ended December 31, 2013 were $240.51 million, compared to $228.06 million for the year ended December 31, 2012.

 

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Industry Analysis

FAC

Industry Average

Valuation FAC Industry Range
Price/Earnings 13.2x
Price/Sales 0.4x
Price/Book 1.3x
Price/Cash Flow 10.5x
TEV/Sales NM Not Meaningful
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