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Earnings Analysis: 
Deutsche Bank Fourth-Quarter Profit Triples
Author: 123jump.com Staff
123jump.com
Last Update: 2:25 PM EST February 01 2007



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StanCorp Financial Group reported fourth-quarter net income rose 16% on 8.9% higher revenue. Archstone-Smith Trust fourth-quarter funds from operations climbed 5% on increased revenue, but the results missed Wall Street''s expectations. Deutsche Bank AG fourth-quarter profit tripled, as full-year earnings rose sharply with help from a recovery in investment banking revenue and strong growth in trading income.

 
StanCorp Financial Group Inc. (SFG: chart), provides employee benefit products and services, reported fourth-quarter net income rose 16% on 8.9% higher revenue. Profit reached $67.5 million, or $1.25 per share, from $58.3 million, or $1.06 per share, in the year-earlier period. Adjusted earnings, excluding net capital gains and losses, were $1.22 versus $1.07. Revenue rose to $652.5 million versus $599 million in the same period a year earlier.

Archstone-Smith (ASN: chart), real estate investment trust, reported fourth-quarter net income fell 5.8% on 30% higher revenue. Earnings were $306.6 million, or $1.36 per share, compared with $325.4 million, or $1.52 per share, in the year-earlier period. Per-share funds from operations reflecting gains and losses rose 5% $1.46 from $1.39. The company said it has substantially completed an effort to divest non-core properties.

Deutsche Bank (DB: chart), financial service operator, reported that fourth-quarter net profit jumped to 1.81 billion euros ($2.35 billion) from 487 million euros a year ago thanks to strong growth in its investment banking division and a one-off 355 million euro tax gain. Pretax profit in the quarter rose 81% to 1.9 billion euros, topping the consensus forecast of 1.6 billion euros. Total revenues rose 9% to 7.16 billion euros compared to a year-ago quarter that benefited from the sale of its stake in DaimlerChrylser.The results were the bank''s best ever fourth quarter, which it reflected in plans to raise its dividend by 60% to 4.00 euros per share. The bank also said revenue from equity sales and trading rose 23% to 1.1 billion euros due to strong returns from proprietary trading, which had shown weakness in the third quarter when it made some wrong bets in the equity markets.

Marathon Oil Corp. (MRO: chart), oil producer and refiner, said that its fourth-quarter net income declined to $1.08 billion or $3.06 per share compared with $1.27 billion, or $3.43 per share, in the year-earlier period. The company said its adjusted quarterly income fell to $838 million, or $2.38 per share, versus $1.33 billion, or $3.61 per share. Total revenue decreased 19% to $13.99 billion compared to $17.22 billion in the same period a year earlier.

Sabre Holdings Corp. (TSG: chart), travel agency, said that its fourth-quarter net income more than tripled to $37.5 million, or 28 cents per share, compared with $12.1 million, or 9 cents per share, a year ago. On an adjusted basis, earnings came to 43 cents per share. Revenue increased 5.6% to $654.9 million compared to $620.4 million in the same period a year earlier.

Alliant Techsystems (ATK: chart), makes weapons and space system products, reported third-quarter earnings rose 8.8% on 17% higher revenue. Earnings reached $51.2 million, or $1.53 per share compared with $47.1 million, or $1.26 per share, in the year-earlier period. Revenue climbed to $900.3 million versus $770 million in the same period a year earlier.

The Children''s Place Retail Stores (PLCE: chart), operates as a specialty retailer of merchandise for children, said it earned $38 million in the third quarter as sales rose 25% to $550.4 million, according to preliminary data. The figures may be revised as the company continues to work on a restatement of past results to correct the accounting for stock option grants. Same-store sales rose 14% in the quarter.

Comcast Corp. (CMCSA: chart), cable television operator, said fourth-quarter net income nearly tripled to $390 million or 18 cents per share, compared with $133 million, or 6 cents per share in the year-ago period. Income from continuing operations rose to 20 cents per share from 5 cents per share. Adjusted income in the latest quarter was 21 cents per share. Operating cash flow increased to $2.59 billion from $2.04 billion. Revenue climbed to $7.03 billion from $5.42 billion in the same quarter a year ago.

8x8 Inc. (EGHT: chart), Internet-based telephony product provider, posted a third-quarter net loss of $3.06 million, or 5 cents per share, versus a net loss of $6.79 million, or 12 cents per share, for the same period last year. Excluding stock-based compensation, the company posted a loss of 4 cents per share. Revenue climbed to $13.2 million compared with $8.48 million in the third quarter a year earlier.

Rofin-Sinar Technologies Inc. (RSTI: chart), industrial lasers maker, said that its first-quarter net earnings increased slightly to $11.49 million, or 75 cents per share, compared with $11.36 million, or 75 cents per share, last year. Revenue climbed to $111.7 million against $95.4 million.

I2 Technologies Inc. (ITWO: chart), develops supply chain management software, reported fourth-quarter net earnings applicable to common stockholders of $14.3 million, or 54 cents per share, down from $69.4 million, or $2.69 per share, in the year-ago period. Revenue declined to $79.6 million compared to $96.6 million in the same period a year ago.

Snap-On Inc. (SNA: chart), professional tool and equipment maker, said that its fourth-quarter net income increased to $38 million, or 64 cents per share, compared with $27.4 million, or 47 cents per share, in the year-ago period. Profit in the most recent quarter included 5 cents per share from lower income tax expense. Revenue climbed 16% to $656 million from $563.4 million in the year-ago period, helped by its November acquisition of ProQuest Business Solutions.

Valero Energy Corp. (VLO: chart), independent oil refiner, said that its fourth-quarter earnings declined to $1.11 billion, or $1.80 per share, compared with a year-ago profit of $1.35 billion, or $2.06 per share. The latest results include a pre-tax gain of $196 million, or 21 cent per share, related to an asset sale. Excluding items, the company earned $987 million, or $1.59 per share, in the latest quarter. Operating revenue decreased to $19.79 billion versus $25.89 billion in the same period a year earlier.
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