Patriot National Reports $3.4 million Net Income in Q1

Patriot National Inc. has reported a net income of $3.40 million for the first quarter of 2016, reversing a loss of $4.82 million in the prior year quarter. The company provides workers’ compensation services to insurance companies and employers. Patriot National held its initial public offering in January 2015, raising $116.4 million. The company, based in Fort Lauderdale, Fla., planned to use some of the money raised to pay down debt. During the first quarter of 2016, the board approved a share repurchase program for the company's common stock of up to $15 million. Sinc...