Pac Rim Reports 72% Quarterly Earnings Jump
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Pac Rim Holding Corp., an Encino-based workers’ compensation insurer, reported a 72% jump in third-quarter earnings, while revenues increased 26%.
In the three months that ended Sept. 30, Pac Rim earned $1.88 million, contrasted with $1.1 million a year earlier. Revenues rose to $26.7 million from $21.1 million.
Pac Rim’s profit for the nine months ended Sept. 30 was $5.15 million, a 68% gain from $3.08 million in the year-earlier period. Revenues were $73.3 million, up 39% from $52.9 million.
The company attributed its higher earnings to its stringent standards in accepting new business.
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