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Baldwin & Lyons swings to a fourth-quarter profit

J.K. Wall
February 4, 2010
Keywords
Health Care & Insurance, Insurance, Insurers, Property Insurance
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Baldwin & Lyons Inc. swung to a profit in its fourth quarter.

The Indianapolis-based trucking fleet insurer on Thursday morning reported quarterly earnings of $10.9 million, or 74 cents per share, compared with a year-ago loss of $2.1 million, or 14 cents per share.

Revenue surged 61 percent, to $60.8 million, in the period, thanks to investment gains. Baldwin & Lyons had investment gains of $4.1 million in the quarter, compared to $15.2 million in investment losses in the fourth quarter of 2008.

Operating income, which excludes investment gains and losses, rose 5.8 percent, to $8.2 million. On a per-share basis, operating income was 56 cents, up from 52 cents in the year-ago period.

For all of fiscal 2009, Baldwin & Lyons pulled in revenue of $232.6, up 48 percent from 2008. Full-year profit totaled $44.8 million, or $3.04 per share, compared with a 2008 loss of $7.7 million, or 51 cents per share.

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  1. First, the Athenaeum is going to have to get past the hurdle with the Lockerbie residents and the agreement that the parcel would be residential. Second, and in my opinion, this prime piece of property should include parking, PLUS, a black box theater(s), some market rate and affordable artist housing and a plan to renovate and reconfigure the second story theater. I would negotiate to add the DeHaan property surface parking lot into the development mix, place a one story surface parking garage on the DeHaan lot on the street level (for the Dehaan tenants use during the daytime) and add a second story to the garage that would become an addition to the current second story theater and then change the direction of the theater by moving the stage across the alley and on top of the DeHaan lot parking. You can add all the stage elements that are currently missing from the Athenaeum stage to make it more attractive for use by Ballet, Opera and traveling productions. Plus, the theater changes would probably help solve some of the soundproofing issues. Alas,it does not seem to be a part of the strategic plan to conduct a study to determine best use of the property. Seems like the current plan is a quick and easy move that ignores the property best use/potential and any strategic property planning for the effect on future generations.

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  3. Accoriding to their website there is no deadline to the Do Not Call list. What is this article referring to??

  4. On what planet are they entitled to this largesse from the stockholders? These people make multi-million dollar salaries: Pay for your own personal travel.

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