Paula Posts Positive Net - Up 112%

PAULA Financial (NASDAQ:PFCO) announced May 3, 2001 operating earnings for the first quarter of 2001 of $0.02 per share compared to an operating loss of ($0.16) per share for the 2000 period, an improvement of 112.5%. Operating earnings per share exclude the impact of realized investment gains and losses and the impact of gains and losses of unconsolidated affiliates. For the quarter ended march 31, 2001 gross premiums written decreased 37.1% to $21.1 million from $33.5 million for the comparable 2000 period. The decrease is largely attributable to geographic regions where the company has el...