American Management Systems Inc. said yesterday that second-quarter net income grew 13 percent to $727,000 (43 cents a share) from $643,000 (39 cents) for the same period last year. Revenue increased 18 percent to $27.3 million from $23.1 million. For the first six months, profits grew to $1.3 million (75 cents) from $1.1 million (66 cents), while revenue grew by 22 percent to $54 million from $44 million.
AMS has declared a three-for-two split of its common stock, effective Aug. 28 to stockholders of record on Aug. 5. The company has repurchased 65,000 shares from the American Express Foundation, and the board of directors has authorized a program to repurchase up to 150,000 (post split) additional common shares depending upon market price. USLICO Corp., which owns seven regional life insurance companies, a broker-dealer company and an investment advisor firm, reported earnings of $5.5 million (59 cents), on a revenue of $81.7 million for the second quarter. For the same quarter last year, the company earned $4.6 million (49 cents) from operations on revenue of $41.6 million.
For the first half, Washington-based USLICO netted $10.9 million ($1.16) on revenue of $159 million. Last year during the same period, it earned $9.6 million ($1.03) from operations on revenue of $81 million.