USI Holdings Corp. reported a 62 percent drop in net income for the third quarter, primarily over deductions for discontinued operations related to the sale of seven operations.
Net income fell $3.02 million (7 cents a share), going from $4.9 million (10 cents a share) to $1.89 million (3 cents a share). Income before the deduction for discontinued operations rose 6 percent, from $5.2 million to $5.5 million. Revenues in the period rose $24.3 million, up 24 percent to $127.3 million.
For the first nine months of 2005, net income dropped 72 percent, or $11.3 million, going from $15.8 million (32 cents a share) to $4.5 million (8 cents a share). Income before the deduction for discontinued operations fell 21 percent, or $3.5 million, from $16.2 million to $12.8 million. Revenues grew 27 percent, or $80 million, from $292 million to $372 million.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
