Unico American Profits Rise 30% in 4th Quarter
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Unico American Corp. posted a 30% jump in fiscal fourth-quarter profit over the year-ago quarter on a 10% increase in revenue.
The Woodland Hills-based insurer said net income in the quarter that ended March 31 rose to $1.90 million from $1.46 million, while its revenue rose to $7.39 million from $6.69 million.
For its full fiscal year, Unico American’s profit rose 11%, to $5.01 million from $4.50 million, and its revenue edged up 3%, to $28.3 million from $27.4 million.
In May, the company announced that net income for its fiscal first quarter ending today would be reduced by about $10 million because of $20 million in claims resulting from the Los Angeles riots.
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