Hallmark Financial Services Sees Increased Revenues in Q3

Hallmark Financial Services Inc. announced operating results for the third quarter ended Sept. 30, 2005, reporting that total revenues were $25.2 million, a 60.9 percent increase over the $15.6 million in total revenues for the comparable period of fiscal 2004.

For the first nine months of fiscal 2005, the company’s total revenues were $60.4 million, representing a 28.3 percent increase over the $47.1 million in total revenues for the comparable period in fiscal 2004.

For the three months ended Sept. 30, 2005, the company reported net income of $2.5 million, representing a 60.3 percent increase over the $1.5 million reported in the third quarter of 2004.

For the first nine months of fiscal 2005, Hallmark Financial reported net income of $6.3 million, representing a 41.5 percent increase over the $4.4 million reported in the comparable period in fiscal 2004.

On a diluted per share basis, net income was $0.03 and $0.10 for the three and nine months ended Sept. 30, 2005, respectively, as compared to $0.04 and $0.10 for the same period in the prior year.