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Earnings Analysis: 
Fortune Industries Posts Record Revenue
Author: 123jump.com Staff
123jump.com
Last Update: 1:51 PM EST January 11 2007



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CRA International fourth-quarter earnings fell 4.2%, as executive compensation expenses offset gains in overseas business. Fortune Industries announced record revenue for the fourth quarter thanks to increased demand for products and services due to the cellular communication industry''s investment in expansion of their networks and increased marketing.

 
CRA International Inc. (CRAI: chart), economics, finance and business consultancy, said that its fourth-quarter earnings fell to $6.3 million, or 51 cents per share, compared with a year-ago profit of $6.6 million, or 55 cents per share. The fourth-quarter results include charges totaling $1.4 million, or 8 cents per share, related to the adoption of new accounting standards and the loss of corporate tax deductions. Revenue climbed 17% to $86.3 million versus $73.8 million in the same period a year earlier.

Fortune Industries Inc. (FFI: chart), technology solutions provider, reported net income of $850,000, or 6 cents per share, compared to $847,000, or 8 cents per share, earned in the same period a year ago. Quarterly revenue climbed to $40.7 million versus $36.4 million a year earlier. Operating income jumped to $1.6 million versus $1.3 million in the year-ago quarter.

M&T Bank Corp. (MTB: chart), commercial and retail banking services provider, reported a fourth-quarter net income of $213.3 million, or $1.98 per share compared with a last-year profit of $205 million, or $1.85 per share. GAAP earnings increased 6% to $1.88 per share versus $1.78 per share in the same quarter a year earlier. Net operating income jumped to $225 million from $213 million a year earlier. Taxable-equivalent net interest income gained 4% and reached $472 million versus $454 million in the year-ago period.

MGIC Investment Corp. (MTG: chart), mortgage insurance provider and investment firm, said that its fourth-quarter earnings declined to $121.5 million, or $1.47 per share, compared with a year-ago profit of $128.1 million, or $1.44 per share. Revenue declined 1% to $367.2 million versus $370.9 million in the same period a year earlier.

Stride Rite (SRR: chart), footwear maker, said that its fourth-quarter net income increased to $600,000, or 2 cents per share, compared with a loss of $3.1 million, or 8 cents per share in the year-ago period. Excluding items, earnings in the latest period were 4 cents per share. Revenue grew 15% to $152 million, from $131.7 million last year.
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