Tuesday April 6, 1:19 pm Eastern Time
Pre-Paid Legal sees Q1 in line with estimates
ADA, Okla., April 6 (Reuters) - Pre-Paid Legal Services Inc. (AMEX:PPD - news) said Tuesday it expects to report 1999
first quarter earnings in line with analysts estimate of $0.36 a share.
This compares with the $0.26 a share reported in the first quarter last year before adjustments for an acquisition.
Pre-Paid Legal develops, underwrites and markets legal service plans nationally.
During the first quarter, the company said it added 118,814 new members, up 39 percent from the same period last year and hired 20,442 sales representatives, also
up 39 percent from a year ago.
Pre-Paid Legal will report its first quarter financial results on April 19, 1999 prior to the opening of trading.
In another development, Pre-Paid Legal said its board of directors has authorized the repurchase of up to 500,000 shares, or more than 2 percent, of the company's
23.65 million common shares outstanding. No time limit has been set for completion of the repurchase program.
Shares of Pre-Paid Legal were trading up 1-6/16 to 24-15/16. |
