Louisiana-based Amerisafe Inc., which provides workers’ compensation insurance for small to mid-sized companies in hazardous industries, recorded a 13 percent increase in second-quarter profit despite a slight decline in revenue, the company reported.
For the quarter ending June 30, Amerisafe said it earned $12.9 million, or 63 cents per share, on revenue of $79.8 million. In the second quarter of 2007, Amerisafe earned $11.4 million, or 56 cents per share, on revenue of $84.7 million.
Results easily exceeded Wall Street expectations. Analysts surveyed by Thomson Financial had forecast per-share earnings of 54 cents and revenue of $81.8 million.
Amerisafe said expenses dropped by $6.9 million during the quarter.
For the first half of 2008, Amerisafe earned $24.8 million, or $1.22 per share, on revenue of $162.1 million. During the first six months of 2007, the company posted a profit of $19.8 million, or 98 cents per share, on revenue of $167.7 million.
Topics Carriers Profit Loss Workers' Compensation Talent Louisiana
Was this article valuable?
Here are more articles you may enjoy.
Acrisure to Cut 2,250 Employees, Citing Advances in Technology and AI 
Atlantic Hurricane Season Forecast Milder Than Normal Thanks to El Nino 
Comulate Loses Appeal for Injunction Against Applied Systems 
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI 
