Ziegler Announces First Quarter Earnings; Declares Dividend

Apr 24, 2001, 01:00 ET from The Ziegler Companies, Inc.

    WEST BEND, Wis., /PRNewswire Interactive News Release/ --
     The Ziegler Companies, Inc., (Amex:   ZCO), a financial services holding
 company, today released its unaudited financial results for the first quarter
 ended March 31, 2001, and declared a dividend for the first quarter.
 Additionally, Ziegler shareholders elected Jack R. Green and Peter R. Kellogg
 to new three-year terms on its board of directors at the company's annual
 shareholders' meeting, held today in Milwaukee.
     In the three months ended March 31, 2001, total revenues were $18,322,000
 compared to $18,080,000 in the first quarter of 2000.  The company's net
 income for the quarter was $208,000 or nine cents per share, compared to a net
 loss of $1,517,000 or 63 cents per share in the first quarter of 2000.
     While revenues were essentially flat between years, the significant
 improvement in net income resulted primarily from an improving market for
 fixed income securities and an aggressive effort to control expenses,
 according to John J. Mulherin, president and chief executive officer of The
 Ziegler Companies, Inc.  "We're beginning to see the benefits of the
 restructuring and cost improvement efforts we began early in 2000," said
 Mulherin.  He added that the market environment led to increased demand for
 fixed income securities in the quarter, which resulted in very strong fixed
 income sales and trading results in the first quarter.  "The recent reductions
 in interest rates are also increasing refinancing opportunities for our
 healthcare, senior living and church investment banking businesses," Mulherin
 said.
     At the company's annual shareholders' meeting held today in Milwaukee,
 Ziegler shareholders elected Jack R. Green and Peter R. Kellogg to new
 three-year terms as directors.
     Ziegler's board of directors today declared a 13 cent regular quarterly
 dividend for the first quarter; the dividend is payable May 17, 2001, to
 shareholders of record on May 7, 2001.
     Book value per share at March 31, 2001 was $17.75.
 
 
     CONSOLIDATED STATEMENTS OF EARNINGS
 
                                                   Three Months Ended March 31,
                                                        2001           2000
     In thousands, except per share amounts
     Revenues Before Interest and Dividends           $18,322        $18,080
     Interest and Dividends                             1,414          1,773
     Total Revenues                                    19,736         19,853
     Operating Expenses                                18,670         21,181
     Interest Expense                                     722          1,196
     Income (Loss) Before Income Taxes                    344         (2,524)
     Income (Loss)                                        208         (1,517)
     Income (Loss) Per Share of Common Stock
      - Basic and Diluted
       Net Income (Loss)                                 0.09          (0.63)
     Average Number of Common Shares Outstanding
      - Basic                                           2,391          2,401
     Average Number of Common Shares Outstanding
      - Diluted                                         2,406          2,433
 
     The forward-looking statements in this announcement are subject to a
 number of risks and uncertainties, in particular, the overall financial health
 of the securities industry and the health care sector of the U.S. economy, as
 well as the ability to attract and retain qualified employees.  The company
 believes that it has sufficient capital, talent, and product offerings to meet
 the anticipated quarterly dividend and produce growth in the company's
 revenues and net income.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X23063434
 
 

SOURCE The Ziegler Companies, Inc.
    WEST BEND, Wis., /PRNewswire Interactive News Release/ --
     The Ziegler Companies, Inc., (Amex:   ZCO), a financial services holding
 company, today released its unaudited financial results for the first quarter
 ended March 31, 2001, and declared a dividend for the first quarter.
 Additionally, Ziegler shareholders elected Jack R. Green and Peter R. Kellogg
 to new three-year terms on its board of directors at the company's annual
 shareholders' meeting, held today in Milwaukee.
     In the three months ended March 31, 2001, total revenues were $18,322,000
 compared to $18,080,000 in the first quarter of 2000.  The company's net
 income for the quarter was $208,000 or nine cents per share, compared to a net
 loss of $1,517,000 or 63 cents per share in the first quarter of 2000.
     While revenues were essentially flat between years, the significant
 improvement in net income resulted primarily from an improving market for
 fixed income securities and an aggressive effort to control expenses,
 according to John J. Mulherin, president and chief executive officer of The
 Ziegler Companies, Inc.  "We're beginning to see the benefits of the
 restructuring and cost improvement efforts we began early in 2000," said
 Mulherin.  He added that the market environment led to increased demand for
 fixed income securities in the quarter, which resulted in very strong fixed
 income sales and trading results in the first quarter.  "The recent reductions
 in interest rates are also increasing refinancing opportunities for our
 healthcare, senior living and church investment banking businesses," Mulherin
 said.
     At the company's annual shareholders' meeting held today in Milwaukee,
 Ziegler shareholders elected Jack R. Green and Peter R. Kellogg to new
 three-year terms as directors.
     Ziegler's board of directors today declared a 13 cent regular quarterly
 dividend for the first quarter; the dividend is payable May 17, 2001, to
 shareholders of record on May 7, 2001.
     Book value per share at March 31, 2001 was $17.75.
 
 
     CONSOLIDATED STATEMENTS OF EARNINGS
 
                                                   Three Months Ended March 31,
                                                        2001           2000
     In thousands, except per share amounts
     Revenues Before Interest and Dividends           $18,322        $18,080
     Interest and Dividends                             1,414          1,773
     Total Revenues                                    19,736         19,853
     Operating Expenses                                18,670         21,181
     Interest Expense                                     722          1,196
     Income (Loss) Before Income Taxes                    344         (2,524)
     Income (Loss)                                        208         (1,517)
     Income (Loss) Per Share of Common Stock
      - Basic and Diluted
       Net Income (Loss)                                 0.09          (0.63)
     Average Number of Common Shares Outstanding
      - Basic                                           2,391          2,401
     Average Number of Common Shares Outstanding
      - Diluted                                         2,406          2,433
 
     The forward-looking statements in this announcement are subject to a
 number of risks and uncertainties, in particular, the overall financial health
 of the securities industry and the health care sector of the U.S. economy, as
 well as the ability to attract and retain qualified employees.  The company
 believes that it has sufficient capital, talent, and product offerings to meet
 the anticipated quarterly dividend and produce growth in the company's
 revenues and net income.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X23063434
 
 SOURCE  The Ziegler Companies, Inc.