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Earnings Analysis: 
General Electric Posts a 2% Earnings Increase
Author: 123jump.com Staff
123jump.com
Last Update: 2:53 PM EDT April 13 2007



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Escalade reported more than a 35% decline in its first-quarter earnings, hurt by higher costs and lower income from European joint ventures. FCStone Group second-quarter profit surged 77% on increased revenue. General Electric posted first-quarter earnings of $4.5 billion Friday, up 2% from the same period in 2006, helped by rising infrastructure sales.

 
Escalade Inc. (ESCA: chart), sporting goods and office products maker, said that its first-quarter net earnings fell to $1.1 million, or 8 cents per share, compared with $1.72 million, or 13 cents per share, in the year-ago period. Revenue climbed to $33.5 million versus $32.8 million in the same period a year earlier. The company said profitability was lower as a result of higher costs and lower income from European joint ventures. Escalade also named Chief Financial Officer Terry Frandsen as interim chief executive, following the death of CEO and President Daniel Messmer on April 9.

FCStone Group Inc. (FCSX: chart), commodity risk management company, said that its second-quarter net earnings increased to $6.92 million, or 48 cents per share, compared with $3.94 million, or 27 cents per share, in the year-ago period. Revenue climbed to $403.4 million against $268.9 million in the comparable period last year.

General Electric Co. (GE: chart), financial services giant and diversified industrial manufacturer, said that its first-quarter net income increased to $4.51 billion, or 44 cents a share, compared with $4.44 billion, or 42 cents a share, in the year-ago period. Revenue rose 6% to $40.2 billion from $38.03 billion last year. GE forecast second-quarter earnings of 52 cents to 54 cents a share and affirmed its 2007 earnings outlook of $2.18 to $2.23 a share.
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