Unico Reports Widening Loss

Unico American Corp. has reported a widening net loss for the fourth quarter and a million-dollar loss for the full year. The Calabasas insurance holding company reported a net loss of $248,000 (-5 cents a share) for the quarter ended Dec. 31, compared with a net loss of $48,000 (-1 cent) for the same quarter a year earlier. Revenue increased 14 percent to $8.7 million. No analysts follow the company, which sells insurance through its Crusader Insurance Co. subsidiary. For the full year of 2015, the company reported a net loss of $1.2 million (-22 cents a share) on revenue of $33.3 million. For the previous year, the company had net income of $846,000 (16 cents a share) on revenue of $30.5 million. Unico announced results late Friday. Shares closed Monday up 17 cents or 1.8 percent to $9.62 on the Nasdaq.