NU Online News Service, April 27, 2:43 p.m. EDT
Arthur J. Gallagher & Co. says net income dropped 48 percent for the 2011 first quarter, but the firm’s CEO is upbeat, noting signs of improvement for the coming year.
The Itasca, Ill.-based broker reports first-quarter net income dropped $14 million, to $15 million. Earnings per share is down from 28 cents for the same period last year to 14 cents. Revenues decreased 7 percent, or $35 million, to $447 million.
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