-----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, ROkNLNBiLGcO97lhsb9R1FahQjdrMQ1lXJcutxcJJdguREwMjE3xR71VPe62ZFKZ I/msju9VIMNLIrtNpL3bsg== 0000100716-03-000008.txt : 20030515 0000100716-03-000008.hdr.sgml : 20030515 20030515152915 ACCESSION NUMBER: 0000100716-03-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030514 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030515 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: 03704616 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 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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 14, 2003 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.) 1 Item 7. Financial Statements and Exhibits. - ------------------------------------------ (c) Exhibits 99.1 News release dated May 14, 2003 Item 9. Regulation FD Disclosure - --------------------------------- In accordance with SEC Release No. 33-8216, the attached press release is being provided under "Item 12. Results of Operations and Financial Conditions." 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 14, 2003 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 14, 2003 3 EX-99.1 3 news0303.txt NEWS RELEASE Exhibit 99.1 NEWS RELEASE CONTACT: Lester A. Aaron Chief Financial Officer (818) 591-9800 UNICO AMERICAN CORPORATION REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2003 Woodland Hills, California, May 14, 2003 - Unico American Corporation (NASDAQ - "UNAM") announced today that for its quarter ended March 31, 2003, revenues were $11,416,591 and the net income was $233,083 ($0.04 diluted income per share) compared with revenues of $10,651,993 and net income of $106,052 ($0.02 diluted income per share) for the quarter ended March 31, 2002. Stockholders' equity was $38,617,503 at March 31, 2003, or $7.03 per common share including unrealized after-tax investment gains of $3,093,192 compared to stockholders' equity of $38,408,990 or $7.00 per common share including unrealized after-tax investment gains of $3,117,762 at December 31, 2002. Unico American Corporation is an insurance holding company that provides property, casualty, health and life insurance, and related premium financing through its wholly owned subsidiaries. (Table Follows) 1 UNICO AMERICAN CORPORATION AND SUBSIDIARIES SUMMARY OF CONSOLIDATED FINANCIAL DATA (UNAUDITED) ($ in thousands, except per share) Three Months Ended March 31 -------- 2003 2002 ---- ---- Revenues - -------- Insurance Company Revenues Premium earned $11,425 $9,253 Premium ceded 3,464 1,661 ----- ----- Net premium earned 7,961 7,592 Investment income 1,267 1,390 Other income 19 2 ----- ----- Total Insurance Company Revenues 9,247 8,984 Other Revenues from Insurance Operations Gross commissions and fees 1,937 1,439 Investment income 13 6 Finance charges and late fees earned 220 219 Other income - 4 ------ ------ Total Revenues 11,417 10,652 ------ ------ Expenses - -------- Losses and loss adjustment expenses 6,680 6,330 Policy acquisition costs 1,784 2,150 Salaries and employee benefits 1,235 987 Commissions to agents/brokers 403 303 Other operating expenses 955 746 ------ ------ Total Expenses 11,057 10,516 ------ ------ Income Before Income Taxes 360 136 Income Tax Provision 127 30 --- --- Net Income $233 $106 === === PER SHARE DATA Basic Earning Per Share $0.04 $0.02 Weighted Average Shares (000) 5,490 5,482 Diluted Earning Per Share $0.04 $0.02 Weighted Average Shares (000) 5,507 5,487 INSURANCE COMPANY STATUTORY OPERATING RATIOS Losses and Loss Adjustment Expenses to Net Premiums Earned 83.5% 83.0% Other Underwriting Expenses to Net Premiums Written 29.6% 36.1% ----- ----- Combined Ratio 113.1% 119.1% ===== ===== -----END PRIVACY-ENHANCED MESSAGE-----