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Arthur J. Gallagher Q1 net income up

IBR Staff Writer Published 02 May 2012

Arthur J. Gallagher & Co. has reported a net income of $28.1m, or $0.24 diluted earnings per share, for the first quarter of 2012, compared to $15.2m, or $0.14 diluted earnings per share, for the same period in 2011.

For the first quarter of 2012, revenues rose to $546.8m, compared to $447.4m for the same period a year ago.

The company's brokerage segments' revenues increased to $385.3m for the quarter, compared to $317.4m for the same period prior year.

Risk management segments' revenues rose to $141.3m, compared to $130.6m for the same period last year.

Arthur J. Gallagher chairman, president and CEO Patrick Gallagher said that the company's positive operating momentum continued in the first quarter of 2012 despite it being seasonally its smallest quarter.

"Our combined Brokerage and Risk Management segments posted 18% growth in adjusted total revenues, 4.6% organic growth in commission, fee and supplemental commission revenues, 23% growth in adjusted EBITDAC and 12% growth in adjusted diluted net earnings per share," Gallagher said.