Atlantic American Corporation reported its first-quarter report and in the report, they mentioned the net loss of 8.1 million dollars, which is quite big for the company. Along with the net loss they also mentioned the dilution of their shares with the rate of 0.40$ per share. Now, if we look at the income of the company that they have mentioned in the report then they have mentioned 4.2 million dollars and 0.19$ per diluted share.
According to some of the experts, the reason behind the heavy loss by the company is the loss in their equity funds, which increased from 6.5 million dollars last year to 8.5 million dollars this year. Due to this loss, the market image of the company got impacted very badly and another reason behind the decrement of the market image for the company is the losses that companies are bearing because of this world pandemic. There are some of the companies that set back themselves from these losses but still, there are some of the companies that are bearing the losses and fighting against them. Well, Atlantic American Corporation is one of them who is still fighting from these things and somehow managing their expenses.
Along with these types of losses, the company also bears the losses that are related with the production losses, unrealized losses, operating losses, and different types of taxes that are imposed over the company. However, these losses were decreased to 2.0 million dollars this year while in the previous year the company faced about 2.6 million dollars in it.
Over the current situation of the company, the president of the company named Hilton H. Howell mentioned, “Our Company is still proud over the efforts that are made by our employees because in this world pandemic it is quite difficult for the company to manage their works and profits. The main reason is we are not prepared for this”
With the final words, we conclude that here we have discussed some of the important information that is related to the NASDAQ: AAME at https://www.webull.com/quote/nasdaq-aame. Here we have mentioned some of the information that is related to the first quarter reports or you can say that we have provided detailed information about the first quarter report of the company. We hope that this information would help you in getting some of the important information that is mentioned in any other platform, which makes it quite specific and important in terms of financial information. You can do stock buying at the online trading platforms. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.