Atlanta-based claims management solution provider Crawford & Co. said its second-quarter net income increased 31 percent helped by improved revenue and cost controls.
Crawford reported second-quarter net income rose $1.9 million to $8 million. Earnings per share rose 4 cents to 16 cents a share. Revenues rose 13 percent, or $33 million, to $289 million.
"Our second-quarter 2008 operating results reflect the strongest second-quarter performance since 2001, achieved through incremental revenues and the results of our continued focus on cost control and process improvement," Jeffrey T. Bowman, chief executive officer of Crawford, said in a statement.
For the first six months of the year, Crawford reported net income rose $8 million to $17 million. This translated into a 15 cent per share increase to 34 cents a share. Revenues for the first half of the year rose $45 million to $564 million.
"While we are pleased with our results through the first half of the year, our outlook for the remainder of 2008 will remain conservative as we continue to implement the operating plans we have outlined in support of the strategic direction of the company," said Mr. Bowman.
"For the full year we expect a significant improvement in consolidated operating results over 2007 as we focus on improving our efficiency and maximizing the incremental margins on the sales gains we achieve. We are committed to managing our operations toward improved operating performance throughout the year while at the same time continuing to enhance our industry-leading quality."
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