Amwest Profit Up 339% on 21% Gain in Revenue
Amwest Insurance Group reported a 339% rise in profit on a 21% gain in revenue for its first quarter ended March 31. The company reported net income of $439,123, or 24 cents a share, on revenue of $3.4 million.
Income before realized investment gains rose 279% to $386,288, or 21 cents a share. Woodland Hills-based Amwest, a 10-year-old insurance holding company, completed its initial public stock offering Dec. 5.