Financial Results for the Nine Months Ended September 30, 2001

 

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 Add Title:  Financial Results for the Nine Months Ended September 30, 2001
Subtitle:
 Location:  Chicago and Toronto
 Date:    2001-11-13  
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FINANCIAL RESULTS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001
(CDN$000s)

                                      Third Quarter          Year to Date
                                      -------------------   -------------------
                                  Latest   Year Ago     Latest   Year Ago
                                      --------  ---------   --------  ---------

Total revenue                 68,798     38,665    159,431    111,698
Earnings before interest,
 taxes, depreciation and
 amortization                 13,323      6,393     32,813     24,946
Net earnings                   3,203      1,868     11,132      8,803
Net earnings per
 share - Basic                 $0.17      $0.10      $0.59       $0.48
Net earnings per
 share - Diluted               $0.15      $0.10      $0.57       $0.48


Net earnings for the quarter increased 71% to $3.2 million from $1.9 million last year. Net earnings per share for the quarter increased 70% to $0.17 per share (50% to $0.15 per share - diluted) this year from $0.10 per share last year.

The higher revenue in the quarter was due mainly to the positive impact of acquisitions completed during the last twelve months.

There were 19.4 million basic weighted average shares outstanding (21.5 million - diluted) in the third quarter of 2001 compared to 18.8 million in 2000.

Hub International Limited is an international insurance brokerage that provides a broad range of property, casualty, life and health, employee benefits, investment and risk management products and services through offices located in Canada and the United States.

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CONTACT:
Hub International Limited
W. Kirk James 312/279-4881
kjames@hubinternational.com
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 SOURCE :   Hub International Limited