ROLLING MEADOWS, Ill. (AP) _ Arthur J. Gallagher & Co. (AJG) on Thursday reported fourth-quarter profit of $135.5 million.

On a per-share basis, the Rolling Meadows, Illinois-based company said it had net income of 63 cents. Earnings, adjusted for non-recurring costs, came to $1.54 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The insurance and risk-management company posted revenue of $2.03 billion in the period. Its adjusted revenue was $2 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.94 billion.

For the year, the company reported profit of $1.11 billion, or $5.19 per share. Revenue was reported as $8.42 billion.

Arthur J. Gallagher shares have risen nearly 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $197.25, a climb of 29% 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

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News