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USI reported net income dropped 76 percent in the fourth quarter, hit with $11.7 million in costs and charges that distorted “profitability comparisons,” the firm’s chief financial officer said.

Speaking during an analyst’s conference call today, Robert S. Schneider, USI’s executive vice president and CFO, said the Briarcliff Manor, N.Y.-based insurance broker’s net income was affected by costs in four specific areas.

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