NU Online News Service, Aug. 13, 2004, 12:35. EDT
Standard Management Corporation lost over $2 million in the 2nd quarter, mostly due to heavy spending on its health care units.[@@]
The Indianapolis company reports a net loss of almost $2.5 million on revenues of around $29 million in the 2nd quarter of 2004, compared to net income of over $1 million on more than $41 million in revenues in the 2nd quarter of 2003.
The company’s bright spot was its financial services segment, which marked its 2nd straight profitable quarter. The segment’s net income, however, was down from last year–$800,000, compared to about $2.7 million in the same period of 2003.