ADA, Okla. (AFX) - Pre-Paid Legal Services Inc., a provider of underwritten legal assistance for a monthly fee, said Tuesday that new memberships produced fell 11 percent in the fourth quarter.
The number of new memberships fell to 139,638 during the 2006 quarter, from 157,194 for the same quarter in 2005.
The number of new sales associates enrolled dropped 32 percent to 35,311 from the 52,168 in the year-ago period.
For the full year 2006, new memberships produced fell 13 percent to 612,726 from 700,727, while the number of new sales associates enrolled dropped 29 percent to 172,999 from 242,223 in 2005.
Active memberships edged down less than 1 percent to 1.5 million.
Pre-Paid Legal said it expects to announce its fourth quarter and full-year 2006 earnings after the market closes on Feb. 20.
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