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Summit Life Reports 4th Quarter Net Income

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NU Online News Service, March 18, 11:32 a.m. ? Summit Life Corp., Oklahoma City, is reporting $34,723 in net income for the fourth quarter of 2001 on $200,737 in revenue, up from a net loss of $243,528 on $28,057 in revenue for the fourth quarter of 2000.

Net results for 2000 were hurt by a $159,755 investment trading loss.

An increase in sales of new products, a decrease in expenses and an improvement in investment results helped lead to a turnaround in the latest quarter, Summit Life says.

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