NAVIGATORS GROUP INC NAVG Income Statement

Navigators group inc (NAVG)

Income statement / Quarterly

Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Gross Written Premiums
580,976	464,558	455,943	497,236	495,224	408,743	402,038	452,179	450,305	367,539	374,930	412,565	413,877	323,509	354,062	379,471	396,460	333,299	327,469	348,795	422,790	333,091	312,076	332,128	393,222	321,587	298,742	322,987	343,149	277,901	255,318	278,714	296,283	229,850	233,638	253,568	270,145	245,191	272,729
Revenues:
Net Written Premiums
461,667	346,119	352,412	379,292	393,262	304,869	296,016	333,282	337,163	282,868	277,001	306,535	319,820	244,719	251,939	258,244	288,958	228,007	228,417	231,864	311,850	223,445	196,556	198,469	269,452	212,312	188,046	190,252	243,045	202,002	175,357	183,363	193,076	141,809	157,807	165,005	189,317	156,001	183,007
Change in Unearned Premiums
-84,478	16,424	-5,374	-48,277	-70,635	230	5,339	-39,447	-51,032	1,117	7,009	-38,543	-55,462	6,826	2,143	-15,916	-52,826	6,165	16,950	-780	-86,578	-3,543	17,339	7,345	-67,124	-10,746	13,216	5,765	-59,926	-10,245	-1,724	-9,586	-40,598	-	-	-	-	15,270	-13,139
Net Earned Premiums
377,189	362,543	347,038	331,015	322,627	305,099	301,355	293,835	286,131	283,985	284,010	267,992	264,358	251,545	254,082	242,328	236,132	234,172	245,367	231,084	225,272	219,902	213,895	205,814	202,328	201,566	201,262	196,017	183,119	191,757	173,633	173,777	152,478	166,158	168,233	161,471	164,069	171,271	169,868
Net Investment Income
28,219	29,159	25,651	24,601	23,702	22,982	22,598	22,265	21,448	20,107	19,875	19,875	19,594	18,499	17,371	16,595	16,253	16,071	15,839	15,648	16,610	14,254	14,094	14,246	13,657	13,616	13,597	15,777	11,258	12,428	16,259	17,429	17,384	17,998	17,839	17,853	17,972	19,110	18,656
Net Realized and Unrealized Gains (Losses):
Total Other-Than-Temporary Impairment Losses
20	47	16	18	37	-3	-	-29	-	-21	-23	162	109	123	1,298	423	-23	21	-158	-	-	530	1,821	0	42	208	-1	496	198	1,280	1,241	833	263	448	1,034	489	251	547	469
Portion of Loss Recognized in Other Comprehensive Income
20	48	15	18	37	-3	-15	-29	-16	-21	-23	12	109	-123	-23	-50	23	-21	158	0	-	-	-	-	-	-	-	-	-	-691	-618	-301	-22	-273	-365	-334	-170	525	-1,407
Net Other-Than-Temporary Impairment Losses Recognized in Earnings
0	0	0	0	0	-1	972	0	1,093	-	-	-	-	0	1,275	423	0	-	-	-	-	530	1,821	0	42	208	0	496	154	589	623	532	241	175	669	155	81	-	-
Net Realized Gains on Investments Sold
393	-220	253	1,787	1,169	37,141	-	1,694	-	4,043	1,586	1,960	1,597	-2,080	518	4,339	5,596	788	6,718	4,473	833	15,768	-988	3,345	4,814	30,254	4,761	4,217	1,842	7,141	3,238	3,006	-1,389	19,665	4,521	11,020	6,113	6,682	2,596
Net Unrealized Gains (Losses) on Equity Securities
26,769	-33,795	2,310	1,329	-3,181	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Net Realized and Unrealized Gains (Losses)
27,162	-34,015	2,563	3,116	-2,012	-	-	1,694	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other realized gains (losses)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,473	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Loss
-4,272	2,934	1,724	2,628	-117	-3,201	-1,699	-411	1,068	1,905	-183	4,430	2,549	4,147	-2,518	-4,362	2,242	586	1,336	-1,665	10,399	-665	-210	-915	618	-599	789	387	911	586	-921	573	991	2,205	2,767	-899	1,070	1,241	5,302
Total Revenues
428,298	360,621	376,976	361,360	344,200	362,021	326,472	317,383	308,603	310,040	305,288	294,107	288,098	272,111	268,178	258,477	260,223	251,617	269,260	249,540	253,114	248,729	224,970	222,490	221,375	244,629	220,409	215,902	196,976	211,323	191,586	194,253	169,223	205,851	192,691	189,290	189,143	197,757	195,953
Expenses:
Net Losses and Loss Adjustment Expenses
270,352	270,401	240,900	196,333	186,145	183,384	276,171	177,110	169,600	172,493	172,793	167,206	152,956	153,881	146,546	141,973	130,198	134,658	135,284	140,220	135,067	131,385	125,086	131,148	131,342	127,191	128,850	123,407	117,985	136,104	110,242	113,863	116,788	110,022	107,463	99,863	103,807	107,591	100,728
Commission Expenses
67,716	54,800	57,999	53,193	54,152	43,205	45,509	48,173	47,844	44,154	42,611	40,726	37,554	31,339	34,253	31,480	32,905	33,708	33,943	32,150	25,727	30,863	27,685	28,391	26,555	31,259	31,258	29,503	29,450	30,273	25,934	28,030	26,200	32,935	25,185	25,677	25,316	22,852	26,278
Other Operating Expenses
83,756	62,532	67,584	68,182	62,926	68,153	45,773	60,766	58,538	58,076	56,137	59,074	60,809	59,219	56,599	52,789	54,909	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,919	34,682	34,513	34,586	35,018	33,019
Merger Transaction Costs
850	1,511	2,439	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Call premium on Senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17,895	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47,992	47,146	43,826	39,056	40,678	40,874	42,841	40,112	39,819	36,307	30,688	34,989	35,777	36,575	180,921	169,375	162,097	165,753	167,503	162,175
Interest Expense
3,867	3,866	3,891	3,864	3,864	3,863	3,862	3,861	3,861	3,860	3,859	3,858	3,858	3,857	3,856	3,856	3,855	3,854	3,388	4,319	3,852	4,351	2,053	2,052	2,051	2,051	2,049	2,049	2,049	2,048	2,047	2,047	2,046	2,045	2,045	2,044	2,044	2,042	2,150
Total Expenses
426,541	393,110	372,813	321,572	307,087	298,605	371,315	289,910	279,843	278,583	275,400	270,864	255,177	248,296	241,254	230,098	221,867	223,519	223,003	224,681	211,792	228,320	193,880	202,269	200,822	203,342	202,269	194,778	185,791	199,113	173,212	179,717	181,609	-	-	-	-	-	-
Income Before Income Taxes
1,757	-32,489	4,163	39,788	37,113	63,416	-44,843	27,473	28,760	31,457	29,888	23,243	32,921	23,815	26,924	28,379	38,356	28,098	46,257	24,859	41,322	20,409	31,090	20,221	20,553	41,287	18,140	21,124	11,185	12,210	18,374	14,536	-12,386	24,930	23,316	27,193	23,390	30,254	33,778
Income Tax Expense
3,495	879	-462	7,684	6,235	36,555	-16,864	6,971	7,650	9,866	7,875	7,053	9,989	6,072	8,723	9,195	12,427	8,823	15,032	7,998	13,354	6,076	9,804	6,284	6,643	13,243	5,225	6,225	3,281	2,122	4,476	5,032	-4,493	7,592	7,091	8,223	6,345	8,822	10,128
Net Income (Loss)
-1,738	-33,368	4,625	32,104	30,878	26,861	-27,979	20,502	21,110	21,591	22,013	16,190	22,932	17,743	18,201	19,184	25,929	19,275	31,225	16,861	27,968	14,333	21,286	13,937	13,910	28,044	12,915	14,899	7,904	10,088	13,898	9,504	-7,893	17,338	16,225	18,970	17,045	21,432	23,650
Net Income (Loss) per Common Share:
Basic
-0.06	-1.12	0.16	1.08	1.04	0.91	-0.95	0.70	0.72	0.74	0.76	0.56	0.79	0.62	0.63	0.67	1.81	1.35	2.19	1.18	1.96	1.01	1.50	0.99	0.99	2.00	0.92	1.06	0.57	0.71	0.94	0.62	-0.50	1.10	1.03	1.18	1.02	1.26	1.40
Diluted
-0.06	-1.12	0.15	1.07	1.02	0.89	-0.95	0.69	0.70	0.71	0.73	0.54	0.77	0.59	0.61	0.65	1.77	1.31	2.14	1.17	1.94	1.00	1.48	0.97	0.97	1.96	0.90	1.05	0.56	0.70	0.92	0.60	-0.50	1.07	1.00	1.16	1.00	1.24	1.39
Average common shares outstanding:
Basic
29,871	29,783	29,769	29,733	29,595	-	-	29,470	-	-	-	-	-	71,987	14,412	14,412	14,327	71,319	14,265	14,259	14,233	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,966	16,938
Diluted
29,871	30,292	30,194	30,149	30,137	-	-	29,918	-	-	-	-	-	74,300	14,851	14,814	14,637	73,439	14,945	14,377	14,408	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,334	16,993
Cash Dividends Declared per Common Share
-	-	-	-	-	-	-	0.06	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-