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Earnings Review: 4th November 2008
By: iStockAnalyst   Tuesday, November 04, 2008 8:00 PM

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(By Salman - iStockAnalyst Writer)

Late on Tuesday, diversified agribusiness and retailing firm The Andersons, Inc. (NASDAQ: ANDE) announced its third quarter net income rose 22% to $12.8 million, or $0.70 per diluted share, from $10.6 million, or $0.58 per diluted share in the same quarter, previous year. Revenue climbed to $906 million from $554 million. Analysts on average expected earnings of 64 cents per share on revenue of $806.5 million. The company's operating income was $9.4 million in the third quarter, which was below its year earlier result of $13.7 million. Shares of Andersons Inc. were little changed in after hours trade. In regular trading, shares of the company plunged over 9%.

Online jewelry retailer Blue Nile Inc. (NASDAQ: NILE) reported that its profit fell 21% in the third quarter to $2.34 million, or 15 cents per share, compared with $2.97 million, or 18 cents, in the same period last year. Analysts on an average were expecting the company to earn 16 cents per share. Sales fell to $65.4 million from $67.4 million. Chief Executive Diane Irvine said in a statement "Certainly, this is a more difficult environment, especially for our engagement business. The freeze-up in the credit markets has played a role. We have a fair percentage of consumers who need to access credit. Our expectation is that this will be a very challenging holiday season based on the uncertainty in the external environment and extremely cautious consumer spending trends". Shares of the company retreated 12.57% in after hours trade.

BRE Properties Inc. (NYSE: BRE) said on Tuesday that its third quarter net income available to common shareholders was $41.6 million or $0.80 per share, compared to $51.4 million or $0.99 per share, in the same quarter last year. Funds from operations for the quarter climbed to $37.8 million or $0.72 per share, compared to $32.4 million or $0.62 per share in the the same period, a year ago. Total revenues from continuing operations for the quarter rose to $89.4 million, compared with $83.2 million a year ago. Analysts expected the company to earn $0.69 per share on revenues of $86.05 million. Shares of the company climbed over 2% in extended trading on Tuesday.

Life sciences company Cambrex Corp. (NYSE: CBM) reported that its third quarter net income rose to $2.80 million or $0.10 per share from $1.49 million or $0.05 per share in the corresponding quarter last year. Net revenues for the quarter increased to $58.29 million from $54.61 million. Analysts had forecast earnings of $0.05 per share on revenues of $58.23 million. Shares of Cambrex Corp. were unchanged in after hours trading.

Mobile games publisher Glu Mobile Inc. (NASDAQ: GLUU) posted a net loss of $56.9 million, or $1.93 per share in third quarter, compared to a net loss of $753,000, or 3 cents a share, for the same period the previous year.


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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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