Crawford returns to annual profitability
Crawford & Company has reported its financial results for the quarter and year ended 31 December 2010.
Attributable net income in the fourth quarter was $14.8m, up by 67% from Q4 2009′s $8.9m and more than 10% higher than the Q3 net income of $13m.
Diluted earnings per share increased by 65% from $0.17 to $0.25.
In Q4 Crawford generated consolidated revenues of $301.5m, a new quarterly record and 26% higher than the $238.4m in the corresponding period last year.
Annually, consolidated revenue exceeded $1bn, an increase of $60.5m from 2009.
Full year net income was $28.3m, a return to the black after the net loss of $115.7m incurred last year.
Chief Executive Officer Jeffrey T. Bowman described the results for both the fourth quarter and full year as strong and said that the firm entered 2011 in a better position but that it faced challenges in the future.
Category: Financials, Insurance News
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