INCOME ROSE IN 4TH QUARTER

INCOME ROSE IN 4TH QUARTER

Warwick Insurance Managers Inc. reported that operating income for the fourth quarter ending Dec. 31 was $1.44 million, or 38 cents a share, compared with $635,862, or 17 cents a share, for the fourth quarter of 1986.

Net income for the fourth quarter increased to $1.08 million, or 28 cents a share, from $655,607, or 17 cents a share, for the fourth quarter a year earlier.Revenue for the fourth quarter was $17.99 million, compared with $10.60 million in the 1987 fourth quarter.

The company reported a net investment loss of 356,661 for the fourth quarter, compared with a $19,745 gain in the 1986 fourth quarter.

For the entire year, operating income was $4.71 million, or $1.25 a share, compared with $2.47 million, or 73 cents a share, for 1986.

Net income for the year increased to $4.68 million, or $1.24 a share, from $3.05 million, or 90 cents a share, a year earlier.

Revenue in 1987 was $58.98 million, compared with $31.50 million in 1986.

The company had a net investment loss of $24,063 for 1987, compared with a $586,330 gain a year earlier.