EMC Insurance Group 8-K 2012
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 18, 2012
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
On October 18, 2012, the Registrant issued a press release announcing that the GAAP combined ratio for the third quarter of 2012 is expected to be approximately 99.3 percent and that operating income1 is expected to be in the range of $0.63 to $0.67 per share. Based on actual results for the first nine months of 2012 and projections for the remainder of the year, management is revising 2012 operating income guidance from the previous range of $1.30 to $1.55 per share to a revised range of $2.05 to $2.30 per share. The revised guidance is based on a projected GAAP combined ratio of 101.3 percent for the year. The Company will release its third quarter earnings report before the market opens on November 6, 2012.
1The Registrant uses a non-GAAP financial measure called “operating income/loss” that management believes is useful to investors because it illustrates the performance of our normal, ongoing operations, which is important in understanding and evaluating our financial condition and results of operations. While this measure is consistent with measures utilized by investors to evaluate performance, it is not a substitute for the U.S. GAAP financial measure of net income/loss. The difference between net income/loss and operating income/loss is that operating income/loss does not include realized investment gains/losses.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on October 19, 2012.