Amwest Insurance Profits Up 17% in 2nd Quarter

Amwest Insurance Group reported a 17% jump in second-quarter profit on a 5% jump in revenue.

The Woodland Hills company, which specializes in writing bail bonds and other surety bonds, said net income in the quarter ended June 30 was $880,000, or 40 cents a share, compared to $755,000, or 38 cents a share, a year earlier. Revenue rose to $5.2 million, compared to $5 million a year earlier.

For the six months ended June 30, the company’s net income was up 23% to $1.7 million, or 79 cents a share, compared to $1.4 million, or 68 cents a share, a year earlier. Revenue was up 6% to $10.3 million, compared to $9.7 million the year before.