Pre-Paid Legal Services, Inc. (PPD) reported that during fourth quarter of 2009, new sales associates enrolled increased 89.4% to 61,623 from the 32,533 enrolled in the 4th quarter of 2008 and new memberships produced increased 11.8% to 148,248 during the 2009 quarter compared to 132,641 for the 2008 quarter.
For the year 2009, new sales associates enrolled increased 52.2% to 186,064 compared to 122,255 enrolled during 2008 while new memberships produced were 568,095, up 2.9% from 552,327. The company's active memberships decreased less than 1.0% during 2009 from 1,559,154 to 1,547,585. From the 3rd quarter of 2009 to the 4th quarter of 2009, our active memberships increased by 2,030 memberships.
Pre-Paid Legal Services' total active membership premium in force decreased less than 1% to $468.2 million at December 31, 2009 from $469 million at December 31, 2008.
Pre-Paid Legal Services' fourth quarter 2009 corporate finance focus has again been on share repurchases. During the fourth quarter, the company returned $35.9 million to shareholders through the repurchase of 902,697 shares of common stock, at an average per share price of $39.75.
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