China United Insurance Service, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
November 12, 2014 at 09:11 pm IST
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China United Insurance Service, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenues of $9,795,058 against $7,768,329 a year ago. Loss from operations was $1,006,991 against $1,605,767 a year ago. Loss before income taxes was $794,631 against $1,457,015 a year ago. Net loss attributable to parent's shareholders was $754,002 or 0.026 per basic and diluted share against $1,016,876 or 0.035 per basic and diluted share a year ago.
For the nine months, the company reported revenues of $30,989,923 against $29,235,793 a year ago. Loss from operations was $429,069 against $3,160,645 a year ago. Income before income taxes was $821,283 against $3,623,979 a year ago. Net loss attributable to parent's shareholders was $874,841 or 0.030 per basic and diluted share against net income of $1,678,651 or 0.058 per basic and diluted share a year ago.
China United Insurance Service, Inc. (China United) operates in Taiwan and China through its subsidiaries Action Holdings Financial Limited (AHFL) and ZLI Holdings Limited (CU Hong Kong), respectively. AHFL holds shares of Law Enterprise Co., Ltd. (Law Enterprise), a company based in Taiwan. Law Enterprise holds shares of Law Insurance Broker Co., Ltd. (Law Broker), Law Risk Management & Consultant Co., Ltd. (Law Management) and Law Insurance Agent Co., Ltd. CU Hong Kong owns Law Anhou Insurance Agency Co., Ltd. (Anhou), which provides insurance agency services in the People's Republic of China. Law Broker and Anhou markets and sells insurance products: life insurance products, and property and casualty insurance products, both focused on meeting the particular insurance needs of individuals. The insurance products that Law Broker and Anhou sell are underwritten by certain insurance companies in Taiwan and China, respectively.