Brown & Brown Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenue of $404.7 million compared to $393.1 million for the same period a year ago. Income before income taxes was $95.2 million compared to $38.7 million for the same period a year ago. Net income was $58.1 million or $0.41 per diluted share compared to $24.6 million or $0.17 per diluted share for the same period a year ago. Adjusted earnings per share were $0.38 compared to $0.36 a year ago. EBITDAC was $133.1 million compared to $80.1 million a year ago. Adjusted EBITDAC was $125.0 million compared to $121.6 million a year ago. Adjusted earnings per share was $0.38 compared to $0.36 a year ago.

For the full year, the company reported total revenue of $1,660.6 million compared to $1,575.8 million for the same period a year ago. Income before income taxes was $402.8 million compared to $339.9 million for the same period a year ago. Net income was $243.6 million or $1.7 per diluted share compared to $207.0 million or $1.41 per diluted share for the same period a year ago. Adjusted earnings per share were $1.67 compared to $1.63 a year ago. EBITDAC was $545.2 million compared to $523.6 million a year ago. Adjusted EBITDAC was $545.2 million compared to $523.6 million a year ago. Adjusted earnings per share was $1.67 compared to $1.63 a year ago.

The company expects effective tax rate for 2016 should be in the range of 39.5% to 39.7%. For 2016, the margin impact should be in the range of 40 to 50 basis points versus 2015 adjusted EBITDAC margins. It believes this disciplined and coordinated approach to technology investments will improve margins slightly once the projects are completed, enabling to operate within long-term EBITDAC range of 33% to 35% and also enhance foundation for ongoing organic growth and scale.