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PrePaid Legal First Quarter 2008…New Sales and New Memberships Down

Prepaid Legal Services, Inc., a publicly traded company, reported first quarter 2008 results recently. Not sure if this is just a sign of the times, due to our nationwide economic downturn, or if something within the company or the product line is to blame.
Here’s the story, taken from PR newswire:

“Pre-Paid Legal Services Announces 2008 1st Quarter Membership and Recruiting

ADA, Okla., April 1, 2008 /PRNewswire-FirstCall/ — Pre-Paid Legal
Services, Inc. (NYSE: PPD), reported new memberships produced and new sales
associates enrolled for the 2008 first quarter. During the 1st quarter of
2008, new sales associates enrolled decreased 16.9% compared to the first
quarter of 2007. Memberships produced decreased by 13.2% while new membership
fees written decreased by 10.6% and our active membership base increased 1.0%
compared to the comparable period of the previous year.
On a sequential quarterly basis, new associates enrolled decreased 28.4%;
new memberships produced decreased 6.6%, new membership fees written decreased
6.6% and the active membership base decreased by 8,843 memberships.”

For more information on Prepaid Legal, visit the corporate website.

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