Paula Financial Posts Lower Net Income

PAULA Financial (Nasdaq:PFCO) yesterday announced net income for the second quarter of 2002 of $0.01 per share compared to $0.04 per share for the 2001 period. For the six months ended June 30, 2002, the Company had net income of $0.04 per share compared to $0.06 per share for the 2001 period. Total revenue for the first six months of 2002 was $10.6 million compared to $30.7 million for the 2001 period. Total pre-tax income for the first six months of 2002 was $465,000 compared to $425,000 in 2001. Weighted average shares outstanding were 6.1 million in the 2002 period compared to 5.4 millio...