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Unicare Financial Corp

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BUSINESS
April 24, 1991 | James S. Granelli / Times staff writer
UniCare Financial: UniCare Financial Corp., an Irvine holding company for a worker-compensation insurance firm, has been approved for listing on the New York Stock Exchange, beginning Thursday. The listing "will substantially add to the company's visibility and provide the proper marketplace for increased (trading) in the company's shares," said Russell E. Leatherby, the company's chairman and chief executive. The company's stock had been trading on the American Stock Exchange since July, 1988.
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BUSINESS
October 28, 1993
The Irvine underwriter of workers' compensation insurance reported that profit for the third quarter tripled to nearly $3 million, or 57 cents a share, from $934,000, or 19 cents a share, for the same period of 1992. Revenue, however, declined 15% to $33.1 million from $38.8 million. Nine-month profit rose to $8.1 million, or $1.58 a share, from $2.6 million, or 51 cents a share, for the first three quarters of 1992. The 1992 figure included a gain of $502,000 from an accounting change.
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BUSINESS
March 2, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
UniCare Financial Corp., recovering a bit from a tough first half for itself and the workers' compensation industry in general, reported that its annual profit fell 53% to $3.5 million, or 70 cents a share. The parent company of UniCare Insurance Co., a workers' compensation insurance underwriter, posted 1991 income of $7.5 million, or $1.38 a share. The 1992 earnings came on record revenue of $146 million, a 16% increase over $126.3 million in revenue for the previous year.
BUSINESS
October 19, 1993 | From Times Staff and Wire Reports
Wellpoint to Purchase Unicare: In the third such pairing in California since April, a large health maintenance organization is buying a workers' compensation insurance company. Wellpoint Health Networks Inc., California's largest for-profit HMO, said it will purchase Irvine-based Unicare Financial Corp. for about $154 million. The new company will operate under the Unicare name. Unicare, with 1992 revenue of $146 million, employs about 325 people in the Southland. It said no jobs will be lost.
BUSINESS
July 28, 1992 | TED JOHNSON, SPECIAL TO THE TIMES
UniCare Financial Corp. said Monday that its profit fell almost 75% in the second quarter as its costs rose and as California's economy remained sluggish. The Irvine-based company, which underwrites state workers' compensation insurance, reported earnings of $720,000, or 14 cents a share, contrasted with $2.5 million, or 46 cents a share, in the same period a year earlier. Sales, however, climbed 15% to $34.5 million from $30 million.
BUSINESS
March 2, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
UniCare Financial Corp., recovering a bit from a tough first half for itself and the workers' compensation industry in general, reported that its annual profit fell 53% to $3.5 million, or 70 cents a share. The parent company of UniCare Insurance Co., a workers' compensation insurance underwriter, posted 1991 income of $7.5 million, or $1.38 a share. The 1992 earnings came on record revenue of $146 million, a 16% increase over $126.3 million in revenue for the previous year.
BUSINESS
July 28, 1992 | TED JOHNSON, SPECIAL TO THE TIMES
UniCare Financial Corp. said Monday that its profit fell almost 75% in the second quarter as its costs rose and as California's economy remained sluggish. The Irvine-based company, which underwrites state workers' compensation insurance, reported earnings of $720,000, or 14 cents a share, contrasted with $2.5 million, or 46 cents a share, in the same period a year earlier. Sales, however, climbed 15% to $34.5 million from $30 million.
BUSINESS
December 23, 1986
Unicare Financial Corp., an Irvine insurance broker dealing primarily in workers compensation coverage, said that its common stock now is listed on the National Market System of the National Assn. of Securities Dealers Automated Quotations, an computerized network for price quotations on over-the-counter securities. The company went public on Oct. 24 with an initial offering of 1 million shares of common stock.
BUSINESS
October 11, 1991 | ANNE MICHAUD, SPECIAL TO THE TIMES
UniCare Financial Corp., which underwrites workers' compensation insurance in California, said on Thursday that it plans to buy back about 7% of its own stock, or 400,000 shares. The company believes its stock is underpriced at current levels and represents a good investment, said Russell E. Leatherby, chairman and chief executive. The stock closed Thursday at $9.50 a share, down 38 cents, on the New York Stock Exchange. UniCare announced the stock repurchase program after the market closed.
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