WASHINGTON (dpa-AFX) - Risk and insurance brokerage service provider Aon Corp. (AON) reported Friday a profit for the fourth quarter that increased 20 percent from last year, reflecting quarterly revenue growth. Adjusted earnings per share from continuing operations for the quarter topped analysts' expectations by a penny, while quarterly revenues missed their estimates by a whisker. On January 13, the Company announced that as an important part of its global growth strategy it intends to change its jurisdiction of incorporation from Delaware to the U.K. and move its corporate headquarters to London. The proposed transaction requires shareholder approval and is expected to close in the second quarter of 2012 subject to the satisfaction of other conditions. Meanwhile, the Company moved the global Aon Hewitt Health and Benefits businesses from the HR Solutions segment into the Risk Solutions segment, effective January 1, 2012. 'Our fourth quarter results reflect 15 percent growth in earnings as highlighted by organic growth across all major businesses and the continued delivery of synergy savings related to Aon Hewitt,' President and CEO Greg Case said in a statement. The Chicago, Illinois-based company reported net income of $277 million or $0.82 per share for the fourth quarter, higher than $231 million or $0.67 per share in the prior-year quarter. Excluding certain items, adjusted income from continuing operations increased to $328 million or $0.97 per share from $291 million or $0.84 per share in the corresponding quarter last year. On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.96 per share for the quarter. Analysts' estimates typically exclude special items. Total revenues for the quarter increased 3 percent to $2.99 billion from $2.91 billion in the same quarter last year, but missed twelve Wall Street analysts' consensus estimate of $3.00 billion by a whisker. Organic revenue growth was 3 percent. Aon's commissions, fees and other revenues increased 3 percent from a year ago to $2.98 billion, and investment income grew 17 percent from the prior-year quarter to $14 million. Aon's main business, the risk solutions reported a 3 percent increase in revenues from the prior-year quarter to $1.82 billion, and HR solutions revenues for the quarter grew 3 percent from the year-ago quarter to $1.18 billion. For fiscal 2011, Aon posted net income of $979 million or $2.87 per share, up from $706 million or $2.37 per share in the prior year. Income from continuing operations for the year increased to $975 million or $2.86 per share from $733 million or $2.46 per share in the year ago. Excluding items, adjusted income from continuing operations increased to $1.12 billion or $3.29 per share from $929 million or $3.12 per share in the previous year. Analysts expected the company to report earnings of $3.29 per share for fiscal 2011. Total revenues for the full year grew 33 percent to $11.29 billion from $8.51 billion posted in fiscal 2010. Street was looking for full-year 2011 revenues of 11.28 billion. 'While macro economic conditions remain challenging globally, we are firmly on track to deliver improved growth in 2012, our restructuring programs will deliver cost savings and we have solid financial flexibility that will drive increased shareholder value, as highlighted by the repurchase of $828 million of common stock in 2011,' Case added. AON closed Thursday's regular trading session at $49.37, down $0.13 on a volume of 3.81 million shares, higher than the three-month average volume of 2.07 million shares.
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