Brown & Brown 1st-quarter profit declines (AP)
Mon, 20 Apr 2009 22:33:54 Etc/GM
Profit declined 7 percent to $48 million, or 34 cents per share, compared with $51.8 million, or 37 cents per share, last year.
Sales rose 3 percent to $263.6 million from $256.7 million.
Analysts polled by Thomson Reuters expected 35 cents in earnings and sales of $268.2 million.
Expenses rose to $184.4 million from $172.1 million last year.
Brown & Brown President J. Powell Brown said results reflected a slowdown in the economy and a competitive insurance rate environment for property and casualty insurance.
source: http://biz.yahoo.com/ap/090420/earns_brown_brown.html?.v=1