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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
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CURRENT REPORT
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):
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April 1, 2010
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Pre-Paid Legal Services, Inc.
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(Exact Name of Registrant as Specified in its Charter)
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Oklahoma
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001-09293
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73-1016728
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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One Pre-Paid Way
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Ada, Oklahoma
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74820
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant’s Telephone Number, Including Area Code
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(580) 436-1234
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(Former name or former address, if changed since last report.)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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£
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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£
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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£
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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£
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02 Results of Operations and Financial Condition
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On April 1, 2010, Pre-Paid Legal Services, Inc. (the "Company") issued a press release announcing our membership production and recruiting information for the three months ended March 31, 2010. A copy of the release is included as an exhibit to this report.
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Item 9.01 Financial Statements and Exhibits
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The following exhibits are included with the report:
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Exhibit No.
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Description
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99.1
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Company Press Release dated April 1, 2010
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Pre-Paid Legal Services, Inc.
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(Registrant)
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By: /s/ Randy Harp
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Randy Harp
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Chief Operating Officer
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Date: April 1, 2010
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For Immediate Release
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Company
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Steve Williamson
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Thursday, April 1, 2010
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Contact:
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(580) 436-1234
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PRE-PAID LEGAL ANNOUNCES 2010 1st QUARTER PRODUCTION RESULTS
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New Sales Associates Enrolled Up 58% - New Memberships Produced Up 9%
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Three Months Ended:
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New Memberships:
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3/31/2010
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12/31/2009
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3/31/2009
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New legal service membership sales
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128,989 | 139,076 | 117,635 | |||||||||
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New “stand-alone” IDT membership sales
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5,192 | 9,172 | 4,960 | |||||||||
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Total new membership sales
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134,181 | 148,248 | 122,595 | |||||||||
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New “add-on” IDT membership sales
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76,309 | 85,095 | 72,850 | |||||||||
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Average Annual Membership fee
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$ | 325.17 | $ | 316.87 | $ | 319.86 | ||||||
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Active Memberships:
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Active legal service memberships at end of period
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1,433,872 | 1,454,661 | 1,438,519 | |||||||||
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Active “stand-alone” IDT memberships at end of period (see note below)
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91,047 | 92,924 | 88,544 | |||||||||
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Total active memberships at end of period
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1,524,919 | 1,547,585 | 1,527,063 | |||||||||
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Active “add-on” IDT memberships at end of period (see note below)
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702,266 | 711,131 | 671,850 | |||||||||
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New Sales Associates:
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New sales associates recruited
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37,640 | 61,623 | 23,871 | |||||||||
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Average enrollment fee paid by new sales associates
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$ | 70.30 | $ | 71.31 | $ | 119.17 | ||||||
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Average Membership fee in force:
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Average Annual Membership fee
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$ | 302.13 | $ | 302.51 | $ | 300.81 | ||||||
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Note – reflects 4,320 net transfers from “add-on” status to “stand-alone” status during the quarter.
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###
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