Paula Net Down; Underwriting Liquidation Included

PAULA Financial (Nasdaq:PFCO) Friday announced net income for the third quarter of 2002 of $0.02 per share compared to $0.20 per share for the 2001 period. For the nine months ended September 30, 2002, the Company had net income of $0.06 per share compared to $0.27 per share for the 2001 period. As previously reported, the Company's underwriting operation, PAULA Insurance Company ("PICO") is being liquidated, but is included in the 2001 comparative results. For the nine months ended September 30, 2001, PICO contributed $0.20 per share to the Company's consolidated net income of $0.27 per sha...