Pre-Paid Legal Announces 2006 Q1 Results
ADA, Okla., April 24 /PRNewswire-FirstCall/ -- Pre-Paid Legal Services, Inc. (NYSE: PPD - News), announced financial results for the first quarter ended March 31, 2006. Membership revenues increased 10% to $101.7 million from $92.5 million for the same period last year. Net income increased 46% primarily due to lower associate services and direct marketing expenses and, although total commissions paid were higher in the 2006 period compared to the 2005 period, commissions were lower as a percentage of membership revenues (31% vs. 34%). Diluted earnings per share for the quarter increased 47% to 84 cents per share from 57 cents per share for the prior year's comparable quarter, slightly higher than the net income increase due to the 2% decrease in the weighted average number of outstanding shares.
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