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First Acceptance’s Q4 net loss narrows

First Acceptance, a provider of non-standard private passenger automobile insurance, has reported a net loss of $8.8 million, or $0.18 per share, for the fourth quarter ended June 30, 2008, compared to $23.9 million, or $0.50 per share, for the same period in fiscal 2007.

Revenues stood at $78.9 million in the fourth quarter of fiscal 2008, compared with $92.2 million for the same period in fiscal 2007.

Revenues for the year ended June 30, 2008 were $332.4 million, compared with $347.6 million for fiscal 2007. Net loss was $17.8 million, or $0.37 per share, compared with $16.7 million, or $0.35 per share, in fiscal 2007.