National Interstate Corporation on Monday reported net income for the second quarter ended June 30, 2005 of $7.0 million ($.36 per share diluted) compared to $6.4 million ($.42 per share diluted) for the 2004 second quarter.
The 8.5 percent increase in net earnings for the 2005 second quarter reflects an increase in net investment income of $1.1 million or 51.7 percent. Net income for the first six months of 2005 increased by $2.7 million to $14.1 million ($0.75 per share diluted) compared to $11.4 million ($.74 per share diluted) for the same period of 2004. The per share comparisons for both periods are affected by increased shares outstanding in 2005 resulting from the Initial Public Offering completed in February 2005.
Richfield, Ohio-based National Interstate Corporation is a specialty property and casualty insurance company with a niche orientation and focus on the transportation industry.
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