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Earnings Analysis: 
Frontier Oil Profit Falls 17%
Author: 123jump.com Staff
123jump.com
Last Update: 1:32 PM EST February 27 2007



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USEC posted higher quarterly profit on lower revenue. Frontier Oil fourth-quarter profit declined 17% on the absence of strong gasoline and diesel margins and a higher inventory loss. Blockbuster reported lower quarterly profit due to store closures and higher costs associated with growing company’s online business. Federated Department Stores said stronger sales at established stores and lower costs drove fourth-quarter earnings 5% higher.

 
USEC Inc. (USU: chart), supplies low enriched uranium for commercial nuclear power plants, said that its fourth-quarter net earnings increased to $40.1 million, or 46 cents per share, compared with $29.6 million, or 34 cents per share, in the year-ago period. Revenue declined to $544.2 million versus $549.7 million in the same period a year earlier.

CBRE Realty Finance Inc. (CBF: chart), which operates as a commercial real estate specialty finance company, said that its fourth-quarter net earnings increased to $3.5 million, or 12 cents per share, compared with $1.73 million, or 9 cents per share, in the year-ago period. Adjusted funds from operations rose to $5.9 million, or 19 cents per share, from $2.5 million, or 13 cents per share, last year. Revenue jumped to $25.6 million versus $8.78 million in the same period a year earlier.

Frontier Oil Corp. (FTO: chart), oil refiner, said that its fourth-quarter earnings declined to $52.4 million, or 47 cents per share, compared with $63 million, or 55 cents per share, a year earlier. The results for the quarter include an inventory loss of 22 cents per share. Revenue declined 5.5% to $1.09 billion versus last year''s $1.15 billion.

Blockbuster Inc. (BBI: chart), video rental chain, said that its fourth quarter profit dropped to $12.9 million, or 5 cents per share, compared with $18 million, or 9 cents per share, in the fourth quarter of 2005. On an adjusted basis, the company said it would have earned $20.4 million, or 9 cents a share, vs. $25.0 million, or 12 cents. Revenue increased 1.4% to $1.51 billion on an increase in worldwide same-store merchandise sales.

Federated Department Stores Inc. (FD: chart), store chain retailer, said that its fourth--quarter net income increased 5% to $733 million, or $1.40 per share compared with $699 million or $1.26 per share in the year-ago period. Revenue declined to $9.16 billion versus $9.57 billion in the same period a year earlier.
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