Lack of major Canadian claims affects Crawford & Company’s 2010 Q1 revenues

The revenues of Crawford & Company’s international segment were affected by the lack of weather-related claims in the Canadian market, the company reported in its 2010 Q1 financial statement.
“Our international operations segment continued to be a strong contributor, even as revenues increased only slightly on a constant dollar basis,” Jeffrey T. Bowman, CEO of Crawford & Company, said in a release. “This aspect of our business was also negatively impacted by the lack of significant weather-related claims activity in the 2010 quarter, particularly in our key Canadian market.”
Revenues before reimbursements for the company’s international operations segment increased 15.2% to $104.5 million in 2010 Q1 from $90.6 million in 2009 Q1.
Overall, Crawford & Company has reported a 2010 Q1 profit of $3.1 million, unchanged from 2009 Q1.
Operating earnings in the company’s international operations segment declined to $6.6 million in 2010 Q1, down 11.5% from $7.4 million in 2009 Q1.
This is primarily due to weakness in the company’s Canadian and continental Europe markets, the company said in a statement.