-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L60dfwcITHoPhK3itOu33BMRAz9rhigsADQ+Iw0kZdIpWd0VIEnldrscxBQDrz+p //Yc8DLbT48gRnGvdt5wsA== 0000100716-05-000005.txt : 20050513 0000100716-05-000005.hdr.sgml : 20050513 20050513133315 ACCESSION NUMBER: 0000100716-05-000005 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050512 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20050513 DATE AS OF CHANGE: 20050513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNICO AMERICAN CORP CENTRAL INDEX KEY: 0000100716 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 952583928 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-03978 FILM NUMBER: 05827954 BUSINESS ADDRESS: STREET 1: 23251 MULHOLLAND DR CITY: WOODLAND HILLS STATE: CA ZIP: 91364 BUSINESS PHONE: 8185919800 MAIL ADDRESS: STREET 1: 23251 MULHOLLAND DRIVE CITY: WOODLAND HILLS STATE: CA ZIP: 91364 FORMER COMPANY: FORMER CONFORMED NAME: UNIVERSAL COVERAGE CORP DATE OF NAME CHANGE: 19730823 8-K 1 form8-k.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): May 12, 2005 Unico American Corporation (Exact Name of Registrant as Specified in Its Charter) Nevada (State or Other Jurisdiction of Incorporation) 0-3978 95-2583928 (Commission File Number) (IRS Employer Identification No.) 23251 Mulholland Drive Woodland Hills, California 91364 (Address of Principal Executive Offices) (Zip Code) (818) 591-9800 (Registrant's Telephone Number, Including Area Code) (Former name or former address, if changed since last Report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 1 Item 2.02. Results of Operations and Financial Condition. - ------------------------------------------------------- On May 12, 2005, the registrant issued a news release announcing its results of operations for the quarter ended March 31, 2005. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNICO AMERICAN CORPORATION (Registrant) Date: May 12, 2005 By: /s/ Lester A. Aaron ------------------- Name: Lester A. Aaron Title: Chief Financial Officer 2 EXHIBIT INDEX ------------- Exhibit Number Description - -------------- ----------- 99.1 News release dated May 12, 2005 3 EX-99.1 2 news0305.txt NEWS RELEASE NEWS RELEASE CONTACT: Lester A. Aaron Chief Financial Officer (818) 591-9800 UNICO AMERICAN CORPORATION REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2005 Woodland Hills, California, May 12, 2005 - Unico American Corporation (NASDAQ - "UNAM") announced today that for its quarter ended March 31, 2005, revenues were $15,481,114 and the net income was $1,505,180 ($0.27 diluted income per share) compared with revenues of $15,680,191 and net income of $1,257,997 ($0.23 diluted income per share) for the quarter ended March 31, 2004. Stockholders' equity was $43,310,111 at March 31, 2005, or $7.88 per common share including unrealized after-tax investment loss of $256,662 compared to stockholders' equity of $42,425,325 or $7.72 per common share including unrealized after-tax investment gain of $376,172 at December 31, 2004. Unico American Corporation is an insurance holding company that underwrites property and casualty insurance through its insurance company subsidiary; provides property, casualty, health and life insurance through its agency subsidiaries; and provides insurance premium financing and membership association services through its other subsidiaries. (Table Follows) UNICO AMERICAN CORPORATION AND SUBSIDIARIES SUMMARY OF CONSOLIDATED FINANCIAL DATA (UNAUDITED) ($ in thousands, except per share) Three Months Ended Ended March 31 2005 2004 ---- ---- Revenues - -------- Insurance Company Revenues Premium earned $16,676 $16,475 Premium ceded 3,850 3,889 ------ ------ Net premium earned 12,826 12,586 Investment income 1,036 1,092 Other income 26 30 ------ ------ Total Insurance Company Revenues 13,888 13,708 Other Revenues from Insurance Operations Gross commissions and fees 1,373 1,711 Investment income 13 10 Finance charges and fees earned 203 247 Other income 4 4 ------ ------ Total Revenues 15,481 15,680 ------ ------ Expenses - -------- Losses and loss adjustment expenses 8,372 8,957 Policy acquisition costs 2,606 2,479 Salaries and employee benefits 1,287 1,216 Commissions to agents/brokers 185 271 Other operating expenses 675 789 ------ ------ Total Expenses 13,125 13,712 ------ ------ Income Before Income Taxes 2,356 1,968 Income Tax Provision 851 710 ----- ----- Net Income $1,505 $1,258 ===== ===== PER SHARE DATA - -------------- Basic Earning Per Share $0.27 $0.23 Weighted Average Shares (000) 5,495 5,490 Diluted Earning Per Share $0.27 $0.23 Weighted Average Shares (000) 5,616 5,578 INSURANCE COMPANY STATUTORY OPERATING RATIOS - -------------------------------------------- Losses and Loss Adjustment Expenses 65.0% 71.0% Underwriting Expenses 30.1% 28.0% ---- ---- Combined Ratio 95.1% 99.0% ==== ==== -----END PRIVACY-ENHANCED MESSAGE-----