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VALLEY EARNINGS

Amwest Insurance Group Posts 33% Gain in 1987

February 09, 1988

Amwest Insurance Group reported a 7% increase in fourth-quarter profit and a 33% earnings gain for all of 1987.

Woodland Hills-based Amwest, an insurance holding company that specializes in writing bail bonds and other surety bonds, said net income for the quarter ended Dec. 31 rose to $698,000, or 34 cents a share, from $654,000, or 32 cents a share, a year earlier. Total revenue jumped 29% to $6.02 million from $4.67 million.

For the full year, Amwest's profit rose to $2.82 million, or $1.40 a share, from $2.11 million, or $1.05 a share, in 1986. Annual revenue climbed 42% to $22.9 million from $16.1 million.

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