ROLLING MEADOWS, Ill. (AP) _ Arthur J. Gallagher & Co. (AJG) on Thursday reported fourth-quarter profit of $109.4 million.

On a per-share basis, the Rolling Meadows, Illinois-based company said it had net income of 51 cents. Earnings, adjusted for non-recurring costs, were 98 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The insurance and risk-management company posted revenue of $1.97 billion in the period.

For the year, the company reported profit of $906.8 million, or $4.37 per share. Revenue was reported as $8.21 billion.

Arthur J. Gallagher shares have declined 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $149.38, a climb of 32% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AJG at https://www.zacks.com/ap/AJG

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