Donegal Reports Increase in Net to $.87 per Share

Donegal Group Inc. Monday reported net income for the quarter ended March 31, 2004 of $11,732,306, or $.87 per share on a diluted basis, which includes an extraordinary gain of $5,445,670, or $.40 per share on a diluted basis, related to an acquisition. Net income before the extraordinary gain was $6,286,636, or $.47 per share on a diluted basis, for the first quarter of 2004 compared to $3,844,432, or $.41 per share on a diluted basis, for the quarter ended March 31, 2003. The Company's results continue to benefit from excellent underwriting results, with the Company posting a combin...