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Atlas Air Worldwide Holdings (AAWW)
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading provider of global air cargo assets and outsourced aircraft operating services, expects fourth-quarter 2009 net income to exceed $1.10 per diluted share, or $26.5 million, exceeding the Company's previous expectations of more than $0.74 per diluted share, or $18.0 million, for the quarter. Full-year 2009 net income is expected to total more than $3.48 per diluted share, or $75.9 million, compared with previous expectations of over $3.09 per diluted share, or $67.4 million.
For fiscal 2010, it expects net earnings of approximately $80.0 million, or $3.08 per diluted share. For the first quarter of 2010, it expects earnings to be consistent with the first-quarter 2009 results. The Company reported net profit of $21.16 million and earnings per share (EPS) of $1.01 for the first quarter of 2009. According to Reuters Estimates, analysts on an average are expecting the Company to report net profit of $71.5 million and EPS of $2.79 for fiscal 2010; net profit of $12.23 million and EPS of $0.47 for the first quarter of 2010.
“Our strong earnings performance in the fourth quarter was driven by a combination of a significantly improved peak-season airfreight demand, a tight supply environment, and continued strength in military charter demand,” said William J. Flynn, President and Chief Executive Officer of AAWW. “Results for the quarter and the full year also reflected the strategic actions we have taken to transform our business, our operating cost base, and our fleet throughout 2008 and 2009.
Feb 25 · 2:54:00 PM · Source: Company Press Release
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by Steve Wieczorek
Hartford Financial Services (HIG)
The Hartford Financial Services Group, Inc. announced Edward J. "Ned" Kelly, III, Vice Chairman of Citigroup Inc., will retire from The Hartford`s Board of Directors.
Feb 25 · 2:35:00 PM
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by Larry Etter
Chubb (CB)
The Board of Directors of The Chubb Corporation today declared a quarterly dividend in the amount of $0.37 per share payable April 6, 2010 to shareholders of record on March 19, 2010. This represents an increase of $0.02 per share or a 5.7% increase over the $0.35 dividend paid last quarter.
Feb 25 · 2:33:00 PM
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by Larry Etter
MetroPCS Communications (PCS)
MetroPCS said its fourth quarter earnings rose to $33.1 million, or 9 cents a share, from $14.6 million, or 4 cents a share, a year earlier. Revenue rose 29 percent to $939 million.
Feb 25 · 2:29:00 PM · Source: Company Press Release
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by Larry Etter
Alaska Air Group Inc. (ALK)
Alaska Air Group (NYSE:ALK) took off like a rocket last year as the economic downturn sent many airlines into a tailspin, According to Investors.com.
The parent of Alaska Airlines and Horizon Air saw 2009 profits soar 1,942% to $2.45 a share from the previous year's 12 cents a share, it reported on Jan. 28. It was the sixth straight year Alaska showed a profit on an adjusted basis.
"Our profitability was driven by significant reductions in fuel costs and an aggressive reallocation of flying to new markets in our system," said Chief Financial Officer Glenn Johnson.
Alaska Airlines capacity was reduced by 4.4% last year. As it reduced capacity to Mexico, it shifted capacity to new markets like Austin, Texas, and Atlanta. It also expanded service to Hawaii from Oakland, Calif., and Portland, Ore. "It's very important to have the right capacity in the right markets," said Johnson
Feb 25 · 2:28:00 PM · Source: http://www.investors.com/NewsAndAnalysis/Article.a
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by Steve Wieczorek
CenturyTel (CTL)
Telecomm company CenturyLink said its fourth-quarter profit rose to $230.2 million or 77 cents per share, from $100.1 million, or $1.00 per share, a year ago, before its purchase of Embarq. Excluding items, it earned 95 cents a share. Operating revenue almost tripled to $1.84 billion, with Embarq contributing $1.27 billion.
Results were above analyst estimates.
Feb 25 · 2:21:00 PM · Source: Company Press Release
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by Larry Etter
Southwest Airlines (LUV)
Southwest Airlines Co (NYSE:LUV) said it was open to acquisitions but added that this strategy would come secondary to growing the airline organically, said CFO Laura Wright, according to Reuters. "No question, if the right opportunity presented itself with all the right facts, we would certainly be interested," Wright said on Wednesday.
But Wright quickly added that Southwest, the second-largest airline by market value, has only made acquisitions three times in its nearly 40-year history. "From where we sit, we don't see consolidation as something that's necessary for us," Wright said.
The U.S. industry has lost some $11 billion in 2009 alone, according to the International Air Transport Association. But Wright and other airline executives have said in recent months that travel demand has strengthened.
Continued "capacity discipline" as well as economic recovery could pave the way for U.S. airlines to improve the profitability, or yields, on each flight, Wright said.
Feb 25 · 2:16:00 PM · Source: Reuters
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by Steve Wieczorek
Salesforce.com (CRM)
Salesforce.com said its fiscal fourth quarter (ended Jan. 31) profit was $20.4 million, or 16 cents a share, up from $13.8 million, or 11 cents a share, a year earlier. Revenue increased 22% to $354 million.
Results topped estimates.
Feb 25 · 2:13:00 PM · Source: Company Press Release
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by Larry Etter
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