21st Century Holding Co. Reports Record Earnings of $1.32 Per Share

July 31, 2007

For the three months ended June 30, 21st Century Holding Co. reported record net income of $10,478,429, or $1.32 per share on 7,930,964 average undiluted shares outstanding, as compared to net income of $8,904,559, or $1.20 per share on 7,427,765 average undiluted shares outstanding in the same three month period last year.

On a diluted share basis, the company reported earnings of $1.31 per share, based on 8,014,947 average diluted shares outstanding for the same three month period, as compared to $1.19 per share on 7,465,896 average diluted shares outstanding for the three months ended June 30, 2006.

For the six months ended June 30, 2007, the company reported net income of $11,321,234, or $1.42 per share on 7,944,933 undiluted shares versus net income of $14,917,871 or $2.02 per share on 7,370,592 undiluted shares in the same six month period last year.

On a diluted share basis, the company reported earnings of $1.40 per share, based on 8,099,187 average diluted shares outstanding for the same six month period, as compared to $1.89 per share based on 7,880,251 average diluted shares outstanding for the six months ended June 30, 2006.

Net premiums earned decreased $3.9 million or 13.7 percent to $24.8 million for the three months ended June 30 as compared to $28.7 million for the same three-month period last year. Net premium earned decreased $3.4 million or 6.6 percent to $47.2 million for the six months ended June 30, 2007, as compared to $50.5 million for the same six month period last year.

Total revenues increased $2.2 million or 6.6 percent to $34.5 million for the three months ended June 30, 2007, as compared to $32.3 million for the same three-month period last year. Total revenues increased $2.6 million or 4.6 percent to $60.1 million for the six months ended June 30, 2007, as compared to $57.5 million for the same six month period last year.

Source: Alfa

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