Insurance company DCAP Group has reported a net loss of $47,445, or $0.02 per diluted share for the full-year period of 2007, compared to net income of $508.3 million, or $0.17 per diluted share for 2006.

Net loss from continuing operations was $318.6 million for the full-year period compared to net income from continuing operations of $168.1 million in 2006. Income from discontinued operations, net of tax, was $271.1 million for the full-year period of 2007, compared to $340.2 million for the corresponding period of 2006.

Barry Goldstein, chairman and CEO, said: The market conditions during calendar year 2007 were extremely difficult. Our company-owned and franchised stores continued to feel the effects of declining rate pressures and reduced market share brought on by the direct writers.