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Brown & Brown (BRO) earned 32 cents a share for the second quarer compared with 27 cents last year. Sales jumped 12.7% to $220.8 million.

J. Hyatt Brown, Chairman and CEO, noted, "We had a very good quarter. We are very pleased with the 6.8% internal growth rate of our core commissions and fees revenue. In fact, all but one of our seven business operating units showed improvement in their internal growth rates over the previous quarter. We are optimistic about the continued growth, development and strength of our company."

President and Chief Operating Officer Jim W. Henderson added, "We are also pleased with the performance of our Producers who have completed our in-house sales school, 'Brown & Brown University.' These sales professionals are contributing significantly to our organic growth and give us an encouraging glimpse of our future leadership. On the acquisition front, we have completed 12 transactions so far in 2006 with combined annualized revenue of approximately $32 million and we continue to be very positive about acquisition opportunities."

Posted by edelfenbein at July 24, 2006 5:22 PM