GVHR » Topics » Milestones toward insurance neutrality

This excerpt taken from the GVHR 8-K filed Feb 17, 2005.

Milestones toward insurance neutrality

Commenting on these results, Erik Vonk, Gevity’s Chairman and Chief Executive Officer stated, ” We realized significant milestones in our strategic objective of achieving insurance neutrality. 2004 has been remarkable in this regard. We secured insurance to significantly limit our residual risk under the 2000-02 workers’ compensation programs, entered into an agreement to reduce the deductible applicable to our 2005 workers’ compensation program from $1 million to $750,000 per occurrence, and determined that continuing positive developments made it appropriate to reduce previously estimated cost of claims by $5.4 million.”

     
gevity       | press release
          people 1st

Continuing, Mr. Vonk said, “2004 also marked a year in which we achieved both quantitative and qualitative successes. Our company performance has been outstanding, even without the positive impact of the insurance related adjustments. For the fourth quarter, without the effect of the adjustment to previously estimated cost of claims, diluted earnings per share would have been $0.31. Of particular significance are the improved productivity and stability of the sales force, higher price points, further ability to leverage our infrastructure, and the simplification and increase of our equity base.”

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki