Brown & Brown reported 2005 fourth-quarter net income increased 18 percent despite challenges from a difficult hurricane season. Management said for this year there is an uncertain pricing picture.
The increase in fourth-quarter net income was $5.5 million rising from $30.3 million, or 22 cents a share in the 2004 period, to $35.7 million, or 25 cents a share. Revenues increased 21 percent, or $34 million, from $163 million to $197 million.
For the year, net income increased 17 percent, or $22 million, from $129 million, or 93 cents a share, to $151 million, or $1.08 a share. Revenues increased 22 percent, or $139 million, from $647 million to $786 million.
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