Net Income Declines for Unico American

Insurance holding company Unico American Corp. announced net income of $1.5 million, or $0.27 per diluted share, on revenues of $10.9 million for the quarter ending Sept. 30. That is a 31 percent decrease from the net income of $2.2 million, or $0.39 per diluted share, on revenues of $12.2 million for the same period last year. Moreover, net income was $4.8 million, or $0.85 per diluted share, on revenues of $33.4 million for the first nine months of this year compared with a net income of $6 million, or $1.07 per diluted share, on revenues of $37 million for the nine months ended Sept. 30, 2006. Woodland Hills-based Unico provides property, casualty, health and life insurance, and related premium financing through its wholly owned subsidiaries.