Crawford & Company has reported a net income of $12.1m, or $0.23 diluted earnings per share, with an increase of 298% compared to $3.1m, or $0.06 diluted earnings per share for the same period last year.
Total revenues were $304m for the first quarter of 2011, an increase of 21%, compared to $252.2m for the same quarter in 2010.
Crawford & Company CEO Jeffrey Bowman said the first quarter 2011 operating results reflect continued strong performance in the legal settlement administration segment, and improvement in EMEA/AP results, primarily as a result of a surge in weather-related claims activity.
"However, we do expect industry conditions to continue to be challenging, particularly with the effects of employment levels and market conditions in our Broadspire and US property & casualty businesses. We expect to continue to focus significant attention on these areas to drive market share expansion and operating efficiencies," Bowman said.