Crawford & Company reveal Q1 results

by Richard Kilner

Story link: Crawford & Company reveal Q1 results

Crawford & Company has announced its financial results for the first quarter of this year, including an attributable net income of $3.1m, down from the $9.1m recorded for Q1 2008.

Consolidated revenues were also down from the same period last year, standing at $236.1m, almost $20m less than the $255.5m figure recorded for Q1 2008.

Earnings per diluted share for the most recent quarter stand at $0.06, a third of the $0.18 in the same period last year.

The results follow the firm’s annual performance which showed a 100% improvement in net attributable income of $32.3m for 2008.

Crawford & Company’s chief executive officer, Jeffrey T. Bowman, has stated that the quarterly results were somewhat better than expected.

Bowman went on to cite the prevailing economic conditions, which remain difficult for businesses to operate in, as the primary reason keeping the firm from performing better.