ADA, Okla., July 1 /PRNewswire-FirstCall/ -- Pre-Paid Legal Services, Inc. (NYSE: PPD), reported new memberships produced and new sales associates enrolled for the 2009 second quarter. During the 2nd quarter of 2009, new sales associates enrolled decreased 3.6% compared to the second quarter of 2008. Memberships produced decreased by 9.1% while new membership fees written decreased by 9.3% and our active membership base decreased 3.9% compared to the comparable period of the previous year.
On a sequential quarterly basis, new associates enrolled increased 5.5%, new memberships produced decreased 0.3%, new membership fees written increased 2.5% and our active membership base decreased by 21,192 memberships.
Three Months Ended
New Memberships: 6/30/2009 3/31/2009 6/30/2008
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New legal service membership sales 118,050 117,635 127,804
New 'stand-alone' IDT membership
sales 4,180 4,960 6,642
Total new membership sales 122,230 122,595 134,446
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New 'add-on' IDT membership sales 78,009 72,850 82,623
Average Annual Membership fee $328.79 $319.86 $329.44
Active Memberships:
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Active legal service memberships at
end of period 1,419,092 1,438,519 1,481,051
Active 'stand-alone' IDT
memberships at end of period (see
note below) 86,779 88,544 85,588
Total active memberships at end of
period 1,505,871 1,527,063 1,566,639
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Active 'add-on' IDT memberships at
end of period (see note below) 670,769 671,850 658,365
New Sales Associates:
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New sales associates recruited 25,172 23,871 26,102
Average enrollment fee paid by new
sales associates $120.98 $119.17 $98.93
Average Membership fee in force:
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Average Annual Membership fee $301.37 $300.81 $300.46
Note - reflects 4,386 net transfers from 'add-on' status to 'stand-alone' status during the quarter
Our total active membership fees in force decreased approximately 3.6% during the last twelve months.
