Amerisafe, inc. (AMSF)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues
Gross premiums written

87,071

-

82,629

87,018

93,107

-

85,324

93,702

97,342

-

87,035

87,039

95,078

-

88,837

103,224

100,382

-

91,061

106,022

100,789

-

93,962

103,820

105,703

-

86,137

95,815

99,123

-

77,283

85,476

84,924

-

65,698

72,916

71,359

52,197

62,993

Ceded premiums written

2,783

-

2,170

2,204

2,430

-

2,283

2,369

2,330

-

1,992

2,198

2,391

-

2,945

2,550

2,551

-

4,232

2,549

2,536

-

3,823

3,493

3,339

-

4,519

4,576

4,481

-

4,032

3,971

3,904

-

3,517

3,388

3,582

5,334

4,603

Net premiums written

84,288

-

80,459

84,814

90,677

-

83,041

91,333

95,012

-

85,043

84,841

92,687

-

85,892

100,674

97,831

-

86,829

103,473

98,253

-

90,139

100,327

102,364

-

81,618

91,239

94,642

-

73,251

81,505

81,020

-

62,181

69,528

67,777

46,863

58,390

Net premiums earned

78,990

82,277

82,712

82,951

84,948

88,837

85,184

88,995

87,310

87,377

85,118

82,749

90,912

92,097

89,918

90,728

95,961

95,034

90,504

95,569

94,787

97,070

95,928

93,516

89,233

86,695

81,596

81,983

79,709

78,741

72,425

69,733

69,790

66,211

64,454

60,261

60,089

54,412

52,982

Net investment income

7,749

8,035

8,264

8,169

8,015

8,056

7,884

7,303

7,209

7,312

7,788

7,471

6,710

7,855

8,006

6,201

6,044

7,256

6,923

6,890

6,833

7,166

6,495

6,845

6,708

6,763

6,947

6,649

6,670

6,698

6,801

6,605

6,914

6,702

6,495

6,597

6,546

6,569

6,675

Net realized gains on investments

992

-53

-4

-82

59

-65

-329

-1,111

-31

114

-192

-388

-181

-1,468

181

545

248

24

40

-2,617

59

516

-152

232

101

710

-654

-1,291

24

66

985

137

1,791

1,468

512

145

103

-561

293

Net unrealized gains (losses) on equity securities

-8,800

1,558

400

600

2,200

-2,398

600

100

-390

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fee and other income

201

87

151

73

10

188

217

117

77

134

90

93

101

74

101

89

82

110

3

94

109

134

65

31

131

143

114

170

109

78

163

162

159

529

282

48

221

118

145

Total revenues

79,169

91,939

91,488

91,753

95,190

94,669

93,529

95,380

94,175

94,937

92,804

89,925

97,542

98,558

98,206

97,563

102,335

101,760

97,470

99,936

101,788

104,886

102,336

100,624

96,173

94,309

88,003

87,511

86,512

85,583

80,374

76,637

78,654

74,910

71,743

67,051

66,959

60,538

60,095

Expenses
Loss and loss adjustment expenses incurred

43,647

33,535

44,325

48,868

49,614

52,055

47,598

52,076

53,162

58,286

48,394

46,428

56,216

52,618

50,526

49,171

46,716

48,321

48,942

57,304

60,006

59,346

61,822

62,463

61,285

59,113

57,046

56,813

56,001

57,489

53,851

56,720

51,843

49,627

49,327

46,576

44,176

46,660

33,711

Underwriting and certain other operating costs

8,217

517

6,736

7,416

7,552

5,139

8,011

7,985

7,846

4,970

7,218

7,645

8,500

4,145

8,104

9,749

7,472

6,119

9,293

9,278

7,472

7,949

7,822

8,839

7,963

-2,521

6,634

7,770

7,068

3,112

6,128

4,923

4,287

4,947

6,729

5,561

5,167

-834

3,403

Commissions

6,055

6,246

6,153

6,243

6,368

6,634

6,416

6,616

6,494

6,388

6,030

5,984

6,410

6,512

6,362

6,491

6,878

6,903

6,696

6,905

7,005

7,176

7,022

6,987

6,687

6,734

6,176

6,229

6,164

6,045

5,405

5,399

5,295

4,924

4,800

4,497

4,286

4,087

3,993

Salaries and benefits

7,012

7,918

6,396

6,059

6,747

7,206

6,179

6,681

5,926

6,732

6,033

6,554

6,312

6,478

6,298

6,321

5,784

6,372

6,278

5,899

5,893

6,428

6,183

5,186

6,721

5,891

5,662

5,664

5,645

5,719

4,962

5,025

5,133

5,146

4,821

4,841

5,106

5,104

4,951

Interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

80

207

279

275

277

380

379

400

385

Policyholder dividends

1,023

797

1,265

998

1,100

858

865

1,092

1,333

761

1,573

1,163

1,371

1,021

889

1,216

1,090

277

371

438

215

51

139

88

113

62

38

388

554

544

945

330

384

474

271

364

355

252

210

Provision for investment related credit loss benefit

-26

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total expenses

65,928

49,013

64,875

69,584

71,381

71,892

69,069

74,450

74,761

77,137

69,248

67,774

78,809

70,774

72,179

72,948

67,940

67,992

71,580

79,824

80,591

80,950

82,988

83,563

82,769

69,279

75,556

76,864

75,432

72,909

71,371

72,604

67,221

65,393

66,225

62,219

59,469

55,669

46,653

Income before income taxes

13,241

42,926

26,613

22,169

23,809

22,777

24,460

20,930

19,414

17,800

23,556

22,151

18,733

27,784

26,027

24,615

34,395

33,768

25,890

20,112

21,197

23,936

19,348

17,061

13,404

25,030

12,447

10,647

11,080

12,674

9,003

4,033

11,433

9,517

5,518

4,832

7,490

4,869

13,442

Income tax expense

2,441

8,912

5,227

4,279

4,409

3,971

4,759

3,974

3,245

17,151

6,979

6,670

5,209

8,711

8,131

7,976

10,138

10,695

7,950

5,793

6,067

7,071

5,869

4,288

2,855

7,587

2,748

3,003

2,229

3,448

1,882

588

1,872

1,444

634

238

860

511

3,018

Net income

10,800

34,014

21,386

17,890

19,400

18,806

19,701

16,956

16,169

649

16,577

15,481

13,524

19,073

17,896

16,639

24,257

23,073

17,940

14,319

15,130

16,865

13,479

12,773

10,549

17,443

9,699

7,644

8,851

9,226

7,121

3,445

9,561

8,073

4,884

4,594

6,630

4,358

10,424

Net income available to common shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,896

16,639

-

23,073

17,940

14,319

15,130

16,865

13,479

12,773

10,549

17,368

9,673

7,618

8,836

9,216

7,116

3,443

9,556

8,059

4,884

4,594

6,630

4,358

10,424

Earnings per share
Basic

0.56

1.77

1.11

0.93

1.01

0.98

1.03

0.88

0.84

0.03

0.86

0.81

0.71

1.00

0.94

0.87

1.27

1.21

0.95

0.76

0.80

0.90

0.72

0.69

0.57

0.94

0.53

0.42

0.48

0.51

0.39

0.19

0.53

0.44

0.27

0.25

0.36

0.24

0.56

Diluted

0.56

1.76

1.11

0.93

1.01

0.98

1.02

0.88

0.84

0.03

0.86

0.81

0.70

0.98

0.93

0.87

1.27

1.21

0.94

0.75

0.79

0.89

0.71

0.68

0.56

0.92

0.52

0.41

0.47

0.49

0.38

0.19

0.52

0.44

0.26

0.24

0.35

0.23

0.54

Shares used in computing earnings per share
Basic

19,266

19,263

19,256

19,245

19,229

19,223

19,216

19,208

19,187

19,177

19,171

19,162

19,150

19,146

19,121

19,096

19,057

19,030

18,968

18,917

18,847

18,776

18,676

18,600

18,531

18,461

18,395

18,353

18,281

18,200

18,173

18,150

18,140

18,079

18,294

18,392

18,232

18,528

18,720

Diluted

19,352

19,409

19,302

19,306

19,298

19,370

19,272

19,266

19,262

19,289

19,236

19,227

19,230

19,275

19,190

19,184

19,163

19,252

19,096

19,080

19,047

19,004

18,929

18,894

18,884

18,834

18,758

18,712

18,689

18,596

18,580

18,588

18,535

18,506

18,708

18,846

18,709

18,982

19,160

Extraordinary cash dividends declared per common share

-

3.50

-

-

-

3.50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1.00

0.00

0.00

0.50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash dividends declared per common share

0.27

0.25

0.25

0.25

0.25

0.22

0.22

0.22

0.22

0.20

0.20

0.20

0.20

0.18

0.18

0.18

0.18

0.15

0.15

0.15

0.15

0.12

0.12

0.12

0.12

0.08

0.08

0.08

0.08

-

-

-

-

-

-

-

-

-

-