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 Talent Workers' Compensation Louisiana
Was this article valuable?
Here are more articles you may enjoy.
NAIC Says Data Taken in Hack Has Been Published Online 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
Endless Shrimp Deal Was Scheme to Squeeze Red Lobster, Suit Says 
