DCAP Group, a company that franchises, owns and operates storefront insurance agencies, has reported total revenues of $2.14 million for the third quarter of 2007, a decline from the prior-year amount of $2.6 million.

Net income was $59,124, down from $106,108 as reported for the third quarter of 2006. Earnings per diluted share were $0.02 as compared to $0.04 in the same period of 2006.

Barry Goldstein, CEO of DCAP, stated: The soft market in personal automobile insurance continues, but signs of a turnaround are beginning to appear. Certain large independent agent-based carriers are experiencing losses in New York. They seek to mitigate the problem by imposing underwriting restrictions and instituting rate increases.