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Marsh & McLennan Posts In-Line – Analyst Blog

Zacks Market Commentaries (August 5th, 2009) Writes:
Marsh & McLennan Cos Inc’s (MMC) second quarter earnings of 33 cents per share were in line with Zacks Consensus estimate. However, as a result of goodwill impairment charges associated with the sale out of Kroll Government Services, its U.S. government security clearance screening business, in the second quarter of 2009 the company reported a loss in the quarter. The company reported a net loss of $193 million or 37 cents per share, compared with net income of $65 million or 12 cents per share in the prior-year period. The sale of Kroll was completed in the second quarter. In relation to this sale, the company evaluated Kroll’s overall goodwill for impairment. Consequently, the company realized a non-cash charge of $315 million or 60 cents per share. The company also experienced an investment loss of $31 million in the quarter, driven by mark-to-market declines ...

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