Brown & Brown Inc. (BRO) reported that its fourth-quarter net income rose to $36.49 million or $0.25 per share, from $32.15 million or $0.22 per share for the same quarter last year.
Total revenue for the fourth quarter was $244.10 million, up from $229.94 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share on revenues of $239.63 million for the quarter. Analysts' estimates typically exclude special items.
Net income for fiscal 2011 was $163.99 million or $1.13 per share, compared with $161.75 million or $1.12 per share last year. Total revenue for the year was $1.01 billion, compared with total revenue for the same period of 2010 of $973.49 million, an increase of 4.2%.
Analysts expected the company to report earnings of $1.10 per share on revenues of $1.01 billion for fiscal 2011.
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