Baldwin & Lyons Releases 3Q Operating Income

Baldwin & Lyons, Inc. (Nasdaq: BWINA BWINB) yesterday announced record third quarter operating income, defined as net income before capital gains or losses, of $6.8 million, or $.46 per share. This compares to operating income of $6.1 million, or $.41 per share, for the third quarter of 2002. Net capital gains of $1.3 million, or $.09 per share, were realized during the current quarter in contrast to capital losses of $.22 per share in the prior year quarter. Including net capital gains, third quarter net income was $8.1 million, or $.55 per share, compared to net income of $2.8 mil...