Crawford & Company has reported total revenues of $252m for the first quarter of 2010, a marginal increase of 1% compared to $250.2m for the same quarter in 2009.
Crawford posted operating earnings for the international operations segment of $6.6m for the quarter, compared to $7.4m for the same period last year, while for the US P&C segment operating earnings were $5.1m compared to $6.2m, and the legal settlement administration segment has posted operating earnings of $3.3m for the first quarter of 2010 compared to $1.5m for the same period last year.
The income before income taxes for the quarter were $3.9m, a decrease of 4% compared to $4.1m for the same quarter in 2009.
For the quarter ended March 31, 2010, the company posted net income of $3.05m, or $0.06 per share compared to $3.08m, or $0.06 per share for the same period last year.
Jeffrey Bowman, CEO of Crawford & Company, said: “Our first quarter 2010 operating results reflect continued challenging business and general economic conditions, particularly unemployment levels in the US leading to lower claim volumes across the industry and the absence of significant weather-related claims activity.”