PASADENA -- Paula Financial Corp., (Nasdaq: PFCO), parent of Paula Insurance Co., has reported its first quarter numbers, indicating slightly increased profits on a much lower volume of business.The company, trying to shed unprofitable business in California while diversifying out of state, reports a net income of $1.3 million, a 30 percent increase from the $1 million net income from last year's first quarter. Gross written premiums during the same time period dropped 24 percent to $29.5 million
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