Atlantic American Corp. (AAME) reported that its first-quarter of 2013 net income declined to $0.9 million or $0.04 per share from $1.7 million or $0.07 per share in the first quarter of 2012.
Operating income for the first quarter of 2013 was $0.3 million as compared to $0.8 million for the first quarter of 2012. Increased losses primarily in the life and health business resulted in the decline in both net income and operating income.
Total revenue for the quarter increased to $36.65 million from $34.55 million in the prior year quarter.
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