ACCEPTANCE INSURANCE HOLDINGS INC <ACPT> YEAR Oper shr profit 1.80 dlrs vs loss 2.28 dlrs Oper net profit 2,048,0000 vs loss 1,318,000 Revs 25.4 mln vs 12.3 mln Avg shrs 1,135,000 vs 576,000 NOTE: Net excludes realized investment gains of 40,000 dlrs vs 13,000 dlrs. 1986 net excludes 729,000 dlr tax credit.