Republic American’s Operating Income Rises

Republic American, the workers’ compensation holding company, said its net income in the second quarter ended June 30 was $6.9 million, or 35 cents a share, down from $16.7 million, or 83 cents a share, a year earlier when the company had nearly $12 million in profit from the sale of securities.

The Encino firm said its operating earnings, however, rose 38% to $6.6 million in the second quarter from $4.8 million a year earlier.

For the six months, Republic American’s net income fell to $14.3 million, or 68 cents a share, from $29.8 million, or $1.49 a share, a year earlier when the company had $20.3 million in gains from the sale of securities. Its operating earnings for the six months rose 49% to $14.2 million, from $9.5 million, a year earlier.