NU Online News Service, Oct. 28, 2:37 p.m. EDT
Arthur J. Gallagher management said despite a challenging economic environment, third-quarter net income increased 10 percent primarily on the strength of expense controls and it plans to trim 400 positions.
The Itasca, Ill.-based insurance broker said net income rose $4 million to $42 million, which translated into a 1 cent increase in earnings per share to 41 cents. Revenues rose 3 percent, or $11 million, to $440 million.
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