Crawford & Company profit increases 67% in 2010 Q4

Crawford & Company has reported a net income of $14.8 million for 2010 Q4, an increase of 67% over 2009 Q4. “Overall, the strength of our results for the quarter and year reflect strong performance in our legal settlement administration and international operations segments,” according to Jeffrey T. Bowman, CEO of Crawford & Company. Revenues before reimbursements for the international operations segment increased 11% to $114.8 million in 2010 Q4. Operating expenses for the quarter increased by $8.3 million, a 9% increase over the same period in 2009. Operating earnings for the period increased to $13.2 million, up 26% from 2009 Q4. This is due primarily to weather-related claim surges in the Canadian and Asia-Pacific operating regions.