(By Arun - iStockAnalyst Writer) Here’s unrolling a slew of company earnings as we await the most important results yet to come in soon, being the poll results. The global economy awaits some cheer from political grounds as the corporate earnings drain the mood yet.
The PMI Group (NYSE: PMI) today reported a loss from continuing operations for the third quarter of 2008 of $149.3Mn, or $1.83 per share, compared to a loss from continuing operations in the third quarter of 2007 of $110.6Mn, or $1.32 per share. The loss from continuing operations for the third quarter of 2008 was primarily due to losses and loss adjustment expenses (LAE) in the U.S. Mortgage Insurance Operations and PMI Europe, a decrease in premiums earned and net realized investment losses, primarily from impairments of corporate preferred equity securities in U.S. Mortgage Insurance Operations. During the quarter, the Company sold PMI Australia for approximately 100% of net tangible asset value, or approximately $920Mn, plus certain adjustments for pre- completion interest and changes in the value of PMI Australia's investment portfolio.
Administaff (NYSE:ASF) a leading provider of human resources services for small and medium-sized businesses reported 2008 third quarter net income of $11.9Mn, or $0.46 diluted earnings per share compared to $12.2Mn and $0.45 diluted earnings per share in the 2007 period. Revenues for the third quarter of 2008 increased 10.1% over the 2007 period to $421.9Mn, due to a 6.1% increase in the average number of worksite employees paid per month and a 3.7% increase in revenues per worksite employee per month. The average gross profit per worksite employee per month was $239, compared to $222 in the 2007 period, showing a 7.7% increase. Also, the average number of worksite employees paid per month saw an increase of 6.1% to 119389.
Oshkosh Corporation (NYSE: OSK), a leading manufacturer of specialty vehicles and vehicle bodies, today reported fiscal 2008 fourth quarter earnings per share of $0.72 on sales of $1.90Bn and net income of $53.6Mn. These results compare with EPS of $1.14 on sales of $1.79Bn and net income of $85.4Mn in the prior year's fourth quarter.