Last $2.46 USD
Change Today +0.13 / 5.58%
Volume 20.7K
FAC On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

first acceptance corp (FAC) Snapshot

Open
$2.26
Previous Close
$2.33
Day High
$2.47
Day Low
$2.26
52 Week High
01/17/14 - $2.95
52 Week Low
04/22/13 - $1.13
Market Cap
100.8M
Average Volume 10 Days
54.8K
EPS TTM
$0.22
Shares Outstanding
41.0M
EX-Date
06/14/02
P/E TM
11.1x
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
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 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.

First Acceptance Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013

First Acceptance Corp. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported revenues of $59,152,000 compared with $55,079,000 a year ago. Profit before income taxes was $3,363,000 compared with $175,000 a year ago. Net profit was $3,158,000 or $0.07 per basic and diluted share compared with $96,000 or $0.00 per basic and diluted share a year ago. Total net premiums earned were $48,712,000 compared with $46,080,000 a year ago. For the year, the company reported revenues of $240,512,000 compared with $228,059,000 a year ago. Income before income taxes was $9,830,000 compared with loss before income taxes of $9,045,000 a year ago. Net loss was $9,040,000 or $0.22 per basic and diluted share compared with net income was $9,180,000 or $0.22 per basic and diluted share a year ago. Total net premiums earned were $199,700,000 compared with $185,644,000 a year ago. This improvement was primarily due to recent pricing actions.

First Acceptance Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

First Acceptance Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, premiums earned were $49,467,000 against $46,444,000 a year ago. This improvement was primarily due to the continued sales, marketing, customer interaction and product initiatives, in addition to its recent pricing actions. Investment income was $1,473,000 against $1,624,000 a year ago. Net income before income taxes was $2,096,000 or $0.05 per basic and diluted share against $3,378,000 or $0.08 per basic and diluted share a year ago. For the premiums earned was $150,988,000 against $139,564,000 a year ago. Investment income was $4,017,000 against $5,156,000 a year ago. Net income before income taxes was $6,467,000 or $0.15 per basic and diluted share against net loss before income taxes of $9,220,000 or $0.22 per basic and diluted share a year ago.

 

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Affirmative Insurance Holdings Inc $2.50 USD 0.00
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Industry Analysis

FAC

Industry Average

Valuation FAC Industry Range
Price/Earnings 10.4x
Price/Sales 0.4x
Price/Book 1.2x
Price/Cash Flow 8.5x
TEV/Sales NM Not Meaningful
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