-----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, BaakxDUITgO7iGai7g3AvwReRePRssfIvU4jy/VCdjZF6ESUaT+C7I1iqLTrEa6m S7kDfCXNYgQCKFQ5aRkl3A== 0000355429-99-000003.txt : 19990217 0000355429-99-000003.hdr.sgml : 19990217 ACCESSION NUMBER: 0000355429-99-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990211 ITEM INFORMATION: FILED AS OF DATE: 19990216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROTECTIVE LIFE CORP CENTRAL INDEX KEY: 0000355429 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 952492236 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-12332 FILM NUMBER: 99543158 BUSINESS ADDRESS: STREET 1: 2801 HGWY 280 S CITY: BIRMINGHAM STATE: AL ZIP: 35223 BUSINESS PHONE: 2058799230 MAIL ADDRESS: STREET 1: PO BOX 2606 CITY: BIRMINGHAM STATE: AL ZIP: 35202 8-K 1 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) FEBRUARY 11, 1999 PROTECTIVE LIFE CORPORATION (Exact name of registrant as specified in its charter) DELAWARE 1-12332 95-2492236 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 2801 HIGHWAY 280 SOUTH, BIRMINGHAM, ALABAMA 35223 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (205) 879-9230 N/A (Former name or former address, if changed since last report.) 1 Item 5. OTHER EVENTS. On February 11, 1999, Registrant issued a press release with respect to its earnings which is included as an Exhibit to this Current Report and incorporated by reference herein. Item 7. FINANCIAL STATEMENTS AND EXHIBITS (c) EXHIBITS The following exhibit is included herein. Exhibit 99: Press Release dated February 11, 1999. 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 thereunto duly authorized. PROTECTIVE LIFE CORPORATION BY/S/JERRY W. DEFOOR Jerry W. DeFoor Vice President and Controller Dated: February 11, 1999 2 Exhibit Index EXHIBIT NUMBER DESCRIPTION 99. Press Release Dated February 11, 1999 3 EX-99 2 Exhibit 99 PROTECTIVE ANNOUNCES 4Q98 EARNINGS BIRMINGHAM, Alabama (February 11, 1999) Protective Life Corporation (NYSE:PL) announced fourth quarter results today. The Company's basic operating income, which excludes realized investment gains and losses and related amortization, was $.53 per share in the 1998 fourth quarter, a 15% increase over the $.46 per share last year. Consolidated net income for the fourth quarter of 1998 was $34.7 million, compared to $29.2 million reported for the 1997 fourth quarter. Basic net income per share was $.53 per share in the 1998 fourth quarter compared to $.46 per share last year. All prior period results have been restated to reflect a two-for-one stock split on April 1, 1998. Diluted operating income was $.53 per share in the 1998 fourth quarter compared to $.46 last year, and diluted net income per share was $.53 per share in the 1998 fourth quarter compared to $.46 per share last year. Drayton Nabers, Jr., Protective's Chairman of the Board and Chief Executive Officer commented:"In 1998 we enjoyed solid earnings growth throughout the Company. Our strong sales momentum and recent acquisitions positions us well for 1999." The Company's 1998 basic operating income was $2.04 per share, a 14% increase over the $1.79 per share reported for 1997. Consolidated net income for 1998 was $130.8 million, compared to $112.0 million reported for 1997. Basic net income per share was $2.06 per share in 1998 compared to $1.79 per share last year. Diluted operating income was $2.02 per share in 1998 compared to $1.78 last year, and diluted net income per share was $2.04 per share in 1998 compared to $1.78 per share last year. At December 31, 1998, the Company's assets were $12.1 billion. Stockholders' equity per share was $13.80 (excluding $.85 per share of unrealized investment gains resulting from marking the Company's securities to market values). Operating return on average equity for the twelve months ending December 31, 1998 was 16.5%. (Average equity excludes the effect of unrealized gains and losses on stockholders' equity.) THIS RELEASE INCLUDES "FORWARD-LOOKING STATEMENTS" WHICH EXPRESS EXPECTATIONS OF FUTURE EVENTS AND/OR RESULTS. ALL STATEMENTS BASED ON FUTURE EXPECTATIONS RATHER THAN ON HISTORICAL FACTS ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES, AND THE COMPANY CANNOT GIVE ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE CORRECT. PLEASE REFER TO EXHIBIT 99 OF THE COMPANY'S MOST RECENT FORM 10-Q FOR MORE INFORMATION ABOUT FACTORS WHICH COULD AFFECT FUTURE RESULTS. 4 -----END PRIVACY-ENHANCED MESSAGE-----