Source: Biloxi Sun Herald 2/22/2008

Pre-Paid Legal Announces Year End 2007 Results

Pre-Paid Legal Services, Inc. (NYSE: PPD), announced results for the fourth quarter and year ended December 31, 2007. Net income for the fourth quarter of 2007 decreased 11% to $11.7 million from $13.2 million for the prior year's fourth quarter due to a fourth quarter 2007 charge of $2.9 million relating to income taxes. In the fourth quarter, we discovered and corrected a clerical error in the amount of net operating loss reported in a 2003 state income tax return which resulted in nonpayment of income taxes in that state for several years. The $2.9 million charge was comprised of $2.0 million pertaining to 2006 and prior years and $900,000 pertaining to the first 3 quarters of 2007. This charge was not individually material to the 2007 prior quarters or 2006 or prior years. Diluted earnings per share decreased 2% to 92 cents per share from 94 cents per share for the prior year's comparable quarter due to a decrease in net income of 11% and 9% decrease in the weighted average outstanding shares. Membership revenues in the fourth quarter of 2007 increased 5% to $108.9 million from $103.8 million for the same period last year.


Related News

  • Pre Paid Legal To Host Convention
    Following the recent announcement of the proposed merger acquisition by MidOcean Partners, Pre-Paid Legal Services, Inc. will march into the 2011 International Convention in Oklahoma City, April 7-9 with an ambitious agenda that focuses on both the future of the company and its history as a pioneer ...  Read More...
  • Finkelstein Thompson LLP Announces Investigation of Pre-Paid Legal Services
    WASHINGTON--(BUSINESS WIRE)--Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Pre-Paid Legal Services, Inc. ("Pre-Paid Legal" or the "Company") (NYSE:PPD) concerning the proposed acquisition of the Company by MidOcean Partners. Under the terms of the offer, Pre...  Read More...
  • Pre-Paid Legal Announces Update on SEC Subpoena
    Pre-Paid Legal Services, Inc.announced that, as a part of an ongoing inquiry by the Division of Enforcement of the Securities and Exchange Commission ("SEC"), we received an additional subpoena from the SEC on April 13, 2010. The subpoena requests us to provide documents relating to certain membersh...  Read More...
  • Pre-Paid Legal documents subpoenaed by SEC
    In an April 15, 2010 article by The Associated Press, Pre-Paid Legal has been subpoenaed by the Securities and Exchange Commission to produce documents related to complaints by customers, CEO Harland C. Stonecipher's resignation, and other issues.Replacing the 71 year old Mr. Stonecipher are two ...  Read More...



New Companies on Npros

Receive News and
Updates from

 Send me news updates
 Send me New Companies

RSS Npros News Feed