Argonaut Posts Net Profit for 2001

Argonaut Group, Inc. (Nasdaq:AGII) yesterday announced its results for the quarter and year ended December 31, 2001, posting a net profit for the year and reporting increased operating revenues and reductions in operating expenses. The Company reported a consolidated net loss of $591,000 ($.03 per diluted common share) on total revenue of $119.1 million for the fourth quarter of 2001, compared to a consolidated net loss of $39.0 million ($1.78 per diluted common share) on total revenue of $47.0 million for the same quarter last year. For the twelve months ended December 31, 2001, the Company r...