Kingstone Companies has reported total revenues of $5.08m for the second quarter of 2010, compared to $0.24m for the same quarter in 2009.
The company posted operating income of $0.63m for the quarter compared to Operating loss of $0.23m for the same period last year.
The company’s income before taxes were $0.63m compared to loss of $0.19m for the same quarter prior year.
For the quarter ended 30 June 2010, the company posted a net income of $0.35m, or $0.11 per share, compared to net loss of $0.23m, or loss of $0.08 per share, for the same period last year.
Kingstone Companies chairman and CEO Barry Goldstein said that the company’s results are driven by Kingstone Insurance Company (KICO) a business writer in New York State, through the independent producer channel, which it had acquired on 1 July 2009.