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LOM Group 2007 earnings increase by 50%

LOM Group, an offshore financial services company, has reported that its net earnings for the year ended December 31, 2007 rose nearly 50% as compared to $2.5 million or $0.38 per diluted share for 2006.

Diluted earnings per share were $0.38 and $0.26 for the year 2007 and 2006, respectively. Total revenue was up 29% to $16.5 million while expansion caused operating costs to rise by 26%, to $14 million.

Scott Lines, president and CEO of LOM, said: LOM had a very good year and these results reinforce our confidence in LOM’s ability to perform well in a dynamic global economy. Our performance is a tribute to the way we have repositioned our company over the past several years, as well as the hard work of our employees.