crawford & co -cl b (CRD/B) Snapshot

On May 8, 2013, at its regular quarterly meeting, the Board of Directors of Crawford & Company declared quarterly dividends of $0.04 per share on the Class A Common Stock and $0.03 per share on the Class B Common Stock, payable on May 31, 2013, to shareholders of record as of the close of business on May 24, 2013.

Crawford & Company, Annual General Meeting, May 08, 2013., at 14:00 US Eastern Standard Time. Location: 1001 Summit Boulevard, N.E..

Crawford & Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $307,126,000 against $287,346,000 for the same period in the last year. Income before income taxes was $14,671,000 against $9,613,000 for the same period in the last year. Net income attributable to shareholders of the company was $9,739,000 against $6,065,000 for the same period in the last year. Earnings per diluted share were $0.18 per Class A common stock and $0.17 per Class B common stock against $0.12 per Class A common stock and $0.11 per Class B common stock for the same period in the last year. Net cash used in operating activities was $41,392,000 against $38,182,000 for the same period in the last year. Acquisitions of property and equipment were $1,647,000 against $4,176,000 for the same period in the last year. Capitalization of computer software costs was $4,400,000 against $3,809,000 for the same period in the last year. Consolidated operating earnings, a non-GAAP financial measure totaled $18,000,000 in the 2013 first quarter, compared with $14,400,000 in the 2012 first quarter. Consolidated operating earnings were $17,990,000 in the 2013 first quarter, compared with $14,392,000 in the 2012 first quarter. Free cash flow declined in the 2013 first quarter by $1.3 million from the 2012 period. The company's operating cash needs typically peak during the first quarter and decline during the balance of the year. The first quarter 2013 revenues increased 7% over 2012, reflecting continued improved performance in its EMEA, AP and legal settlement administration segment results, and the benefit of handling claims from super storm sandy which arose in the 2012 fourth quarter in its Americas segment. Companywide revenues before reimbursements in the 2013 first quarter were $286.3 million, up 7% from $267.8 million in the prior year's first quarter. The company provided earnings guidance for the year 2013. For the year, the company expects consolidated revenues before reimbursements between $1.05 and $1.08 billion. Consolidated operating earnings expected to be between $85.0 and $93.0 million. Consolidated cash provided by operating activities between $65.0 and $70.0 million. After reflecting stock option expense, net corporate interest expense, customer-relationship intangible asset amortization expense, and income taxes, net income attributable to shareholders of the company on a GAAP basis between $49.0 and $54.0 million, or $0.85 to $0.95 diluted earnings per crdb share.