The Cincinnati Enquirer

American Financial Group Inc. earned $25.1 million, or 36 cents a share, during the first quarter ended March 31.

During the same period last year, the insurer earned $1.4 million, or 2 cents a share.

Core earnings from insurance operations were $43.8 million, or 63 cents a share, within the range of Wall Street expectations, AFG said.

That compared with results of $36.9 million, or 53 cents a share, in last year's first quarter.

Company chairman and chief executive officer Carl Lindner said the results "reflect the effects of our ongoing rate actions and our focus on allocating capital to those businesses with the greatest profit potential."

All three of AFG's major category groups - property and casualty, specialty and personal lines - posted an underwriting profit. Great American Financial Resources, the annuity, life and health insurance unit, posted core operating earnings of $13.6 million, down from $17.6 million the year before.

In other earnings news:

• Omnicare Inc.: The Covington-based pharmaceutical service provider reported first-quarter net income of $40.4 million, a 40 percent jump compared with the same period last year.

The company said the results were a record, and marked the 11th consecutive quarter of sequential, as well as year-over-year, growth in income.

The results totaled earnings of 42 cents a share, compared with 30 cents last year.

• Shire Pharmaceuticals Group: The British pharmaceutical giant reported net profit of $63.1 million for the first quarter, an 11 percent jump from the same period last year.

The company, which derives a good portion of its sales through its U.S. subsidiary, based in Newport, reported net profit of $56.8 million last year. The results equated to earnings of 12.3 cents a share, compared with 11.1 cents during last year's first quarter.