Unaudited Selected Quarterly Financial Information

12 Months Ended

Dec. 31, 2011

Unaudited Selected Quarterly Financial Information

19. Unaudited Selected Quarterly Financial Information:

Following is a summary of the unaudited interim results of operations for the years ended December 31, 2011 and 2010 (in thousands, except per share data). In the opinion of management, all adjustments necessary to present fairly the results of operations for such periods have been made.

	2011										2010
	Q1			Q2			Q3		Q4		Q1		Q2			Q3		Q4
Total revenue	$	77,408		$	78,513		$	83,748	$	83,102	$	75,823	$	75,687		$	76,217	$	79,333
Total expense		89,013			87,757			83,001		82,679		66,642		76,996			74,963		80,195
Income (loss) before tax		(11,605	)		(9,244	)		747		423		9,181		(1,309	)		1,254		(862	)
Income tax (benefit)expense		(393	)		(9,229	)		616		90		2,890		(953	)		205		(1,317	)
Net (loss) income		(11,212	)		(15	)		131		333		6,291		(356	)		1,049		455
Net income  attributable to non-controlling interest		14			8			6		30		5		32			33		35
Net (loss) income attributable to Hallmark Financial Services, Inc.	$	(11,226	)	$	(23	)	$	125	$	303	$	6,286	$	(388	)	$	1,016	$	420
Basic earnings (loss) per share:	$	(0.56	)	$	0.00		$	0.01	$	0.02	$	0.31	$	(0.02	)	$	0.05	$	0.02
Diluted earnings (loss) per share:	$	(0.56	)	$	0.00		$	0.01	$	0.02	$	0.31	$	(0.02	)	$	0.05	$	0.02