Florida-based 21st Century Holding Company, a vertically integrated financial services holding company, is raising its guidance for calendar year 2004.
President and Chairman of the Board, Edward Lawson, announced that he is raising the guidance for the company’s calendar year 2004 from $2.50 to $3.00 per share to $3.25 to $3.75 per share on a GAAP basis, before dilution. Revenue guidance is also being raised from 20-30 percent growth rate to a 40-50 percent growth target for all of 2004 and 2005. For calendar year 2003 ending Dec. 31, 2003, the company continues to believe it will meet or exceed its previous guidance of $2.25 to $2.45 per share.
Lawson noted, “I am making these changes to our guidance now due to a surge in growth in our property and general liability lines of business. I believe that these trends, coupled with expansion into other states, will continue to drive earnings and revenue over the next several years.”
The company, through its subsidiaries, underwrites standard and non-standard personal automobile insurance, flood insurance, general liability insurance, mobile home insurance and homeowners’ property and casualty insurance in the State of Florida. The company underwrites general liability in the state of Georgia as a surplus lines carrier. In addition, the company has underwriting authority and process’ claims for third party insurance companies.
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