PRESIDENTIAL LIFE CORP (PLFE) [Rocket]

In millions, except per share items	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08	Dec-31-07	Dec-31-06	Dec-31-05	Dec-31-04
	10-K/A	10-K/A	10-K/A	10-K/A	10-K	10-K	10-K	10-K
Total interest income		0.8
Total interest expense	1.6	1.3	2.3
Net interest income	1.6	1.3	2.3
Gain on sale of investments, net	35.3	25.5	-30.7				75.0
Other non-interest income	19.6	51.2	39.4	16.2
Total non-interest income	54.9	49.8	8.7	16.2
Equity in earnings	2.2	-5.5	-0.1
Pre-tax income before non-recurring items	55.9	34.8	2.5	-21.5	96.7	70.2	148.2	100.0
Non-recurring items		1.5	2.5
Pre-tax income	55.9	34.8	1.0	-21.5	96.7	70.2	148.2	100.0
Income taxes	16.9	13.3	-3.9	-15.1	33.0	20.5	56.6	34.1
Tax rate	30.3%	38.1%		70.5%	34.1%	29.1%	38.2%	34.0%
Net income	38.9	21.5	4.9	-6.3	63.7	49.7	91.6	66.0
Net margin	14.6%	7.3%	2.0%	-2.8%	17.5%	13.9%	20.0%	16.6%

Basic EPS	$1.32	$0.73	$0.17	($0.21)	$2.16	$1.69	$3.12	$2.25
Diluted EPS	$1.32	$0.73	$0.17	($0.21)	$2.15	$1.67	$3.11	$2.25

Shares outstanding (basic)	29.6	29.6	29.6	30.2	29.5	29.4	29.4	29.3
Shares outstanding (diluted)	29.6	29.6	29.6	30.2	29.6	29.8	29.4	29.3

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.