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Earnings Analysis: 
Federated Posts Third-Quarter Loss
Author: 123jump.com Staff
123jump.com
Last Update: 11:00 AM EST November 09 2006



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Avatar Holdings increased its quarterly profit on higher revenue. Federated Department Stores lost $3 million in the third quarter due to costs related to company’s acquisition of May Department Stores. DirecTV Group third-quarter profit nearly quadrupled on higher revenue and a lower rate of customer defection.

 
Avatar Holdings Inc. (AVTR: chart), engaged in real estate operations, said that its third-quarter earnings increased to $22.9 million, or $2.21 per share, compared with a year-ago profit of $1.8 million, or 21 cents per share. Revenue rose in the latest three months to $158.3 million from $107.8 million in the same period a year earlier.

Federated Department Stores (FD: chart), Macy''s and Bloomingdale''s chains owner, said that its third-quarter net loss was $3 million, or 1 cent per share compared with $436 million, or 90 cents per share in the year-ago period. Revenue climbed to $5.89 billion from $5.56 billion during the same quarter a year earlier.

Directv Group Inc. (DTV: chart), satellite television broadcaster, said that its third-quarter earnings rose to $370.2 million, or 30 cents per share, compared with a year-ago profit of $94.6 million, or 7 cents per share. Revenue climbed to $3.67 billion versus $3.23 billion in the same period a year earlier.
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