Acceptance Insurance posts $53,372 April net operating loss

By Caroline Salls

Pittsburgh, May 11 - Acceptance Insurance Cos. Inc. reported a $53,372 net operating loss for April on investment income of $8,734, according to an 8-K filing with the Securities and Exchange Commission.

In March, the company posted a $155,720 net operating loss on investment income of $10,099.

The net income for April was $955,683, up from a net loss of $155,720 in March.

Cash on April 30 was $1,541, compared with $2,313 at the end of March.

Acceptance, a Council Bluffs, Iowa-based insurance company, filed for bankruptcy on Jan. 7, 2005 in the U.S. Bankruptcy Court for the District of Nebraska. Its Chapter 11 case number is 05-80059.

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