Amerisafe, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenue of $94,937,000 compared to $98,558,000 a year ago. Income before taxes was $17,800,000 compared to $27,784,000 a year ago. Net income of was $649,000 or $0.03 per diluted share compared to $19,073,000 or $0.99 per diluted share a year ago. Return on average equity was 0.6% compared to 19.5% for the last year. Operating net income was $13,195,000 or $0.69 per share compared with $20,027,000 or $1.04 per share a year ago.

For the year, the company reported total revenue of $375,208,000 compared to $396,662,000 a year ago. Income before taxes was $82,240,000 compared to $112,821,000 a year ago. Net income was $46,231,000 or $2.40 per diluted share compared to $77,865,000 or $4.05 per diluted share a year ago. Return on average equity was 10.5% compared to 17.1% for the last year Operating net income was $59,272,000 or $3.08 per share compared with $78,186,000 or $4.07 per share a year ago. Book value per share as on December 31, 2017 was $22.10 compared to $23.72 per share as on December 31, 2016.

For the year 2018, the company expects to see substantial benefit for the new lower tax rate, as underwriting profits will now be taxed at 21% instead of 35%.