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W.R. Berkeley Q2 Profits Down


Posted on 27 Jul 2011

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W. R. Berkley Corp. reported second-quarter net income of $83.1 million or $0.56 per share, compared to $110.2 million or $0.70 per share in the prior-year quarter.

Operating income, or net income excluding net investment gains and losses, for the quarter declined to $68.75 million or $0.46 per share from $102.76 million or $0.65 per share in the comparable quarter last year. On average, fourteen analysts polled by Thomson Reuters expected earnings of $0.43 per share for the quarter. Analysts' estimate typically excludes one-time items.

Total revenues for the quarter was $1.27 billion compared to $1.16 billion in the prior-year period, while four analysts estimated revenues of $1.21 billion for the quarter.