| Business Summary | | Pre-Paid
Legal
Services,
Inc.
was
one
of
the
first
companies
in
the
United
States
organized
solely
to
design,
underwrite
and
market
legal
expense
plans.
The
Company's
legal
expense
plans
(referred
to
as
Memberships)
currently
provide
for
a
variety
of
legal
services
in
a
manner
similar
to
medical
reimbursement
plans.
Plan
benefits
are
generally
provided
through
a
network
of
independent
provider
law
firms,
typically
one
firm
per
state
or
province.
Members
have
direct,
toll-free
access
to
their
Provider
law
firm
rather
than
having
to
call
for
a
referral.
At
December
31,
2000,
the
Company
had
1,064,805
Memberships
in
force
with
members
in
all
50
states,
the
District
of
Columbia
and
the
Canadian
provinces
of
Ontario
and
British
Columbia.
Approximately
90%
of
such
Memberships
were
in
28
states
and
the
Canadian
province
of
Ontario. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Pre-Paid
Legal
Services
underwrites
and
markets
legal
service
plans
which
provide
for
or
reimburse
a
portion
of
legal
fees
incurred
by
members
in
connection
with
specified
matters.
For
the
six
months
ended
6/30/01,
total
revenues
rose
27%
to
$147.8
million.
Net
income
applicable
to
Common
rose
49%
to
$11.7
million.
Revenues
reflect
an
increased
number
of
active
memberships.
Earnings
also
benefited
from
improved
operating
margins. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Harland Stonecipher, 62 Chairman
and CEO | $1.4M | -- | Wilburn Smith, 60 Pres | 1.6M | -- | Steve Williamson CFO | -- | -- | Randy Harp, 45 COO,
Director | 193K | $783K | Kathleen Pinson, 48 Controller,
VP, CAO | 114K | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|