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American National Financial, Inc. Reports Earnings and Revenues For the 2nd Quarter and Six Months Ended June 30, 2002

July 30, 2002

ORANGE, Calif.,  /PRNewswire-FirstCall/ -- American National Financial, Inc. (Nasdaq: ANFI), a diversified real estate services company, announced earnings and revenues for the three and six month periods ended June 30, 2002. All per share amounts have been adjusted to reflect the 5 for 4 stock split that became effective July 19, 2002.

  • For the second quarter ended June 30, 2002, earnings were $4.3 million or $.40 per diluted share, compared with earnings of $3.4 million, or $.32 per diluted share for the comparable 2001 quarter.
  • Revenues for the second quarter ended June 30, 2002 increased $7.4 million or 20.7% to $42.9 million, as compared with revenues of $35.5 million for the comparable 2001 period.
  • Earnings for the six months ended June 30, 2002 were $10.1 million or $.98 per diluted share, compared with earnings of $5.7 million, or $.53 per diluted share for the comparable 2001 six-month period.
  • Revenues for the six-month period ended June 30, 2002, increased $23.8 million or 37.2% to $87.8 million, compared with revenues of $64.0 million for the comparable 2001 period.

Michael C. Lowther, Chairman of the Board and Chief Executive Officer of American National Financial, Inc. said, "New order volume remains very strong and this coupled with gains in market share bode well for the financial future of our Company."

Carl A. Strunk, Executive Vice President and Chief Financial Officer of American National Financial, Inc. added, "Our operational profit retention (pretax earnings less investment income as a percentage of gross revenues, less investment income) for the quarter ended June 30, 2002 was 15.7% compared to 14.5% for the comparable 2001 quarter. The profit retention for the six- month period ended June 30, 2002, was 16.1% compared to 12.0% for the prior year. These percentages include the absorption of start-up expenses in our Las Vegas operations and the expansion of our Phoenix, Arizona operations."

American National Financial, Inc. (ANFI)



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