(By Salman - iStockAnalyst Writer)

Late on Tuesday, ACE Ltd (NYSE: ACE) announced that its fourth quarter net income slumped to $20 million or 6 cents a share from $572 million or $1.69 a share in the same quarter, last year. On an adjusted basis, the company earned $624 million or $1.87 a share compared to $693 million or $2.05 a share in the year ago quarter. Analysts on average were looking for company to report fourth quarter earnings of $1.80 a share, excluding items. Net premiums earned rose to $3.226 billion from $3.057 billion while net premiums written jumped to $3.052 billion from $2.827 billion in the previous year. For the full fiscal year 2008, net income nearly halved to $1.197 billion or $3.53 a share from $2.578 billion or $7.66 a share in 2008. On an adjusted basis, the company earned $2.591 billion or $7.72 a share compared to $2.712 billion or $8.07 a share in the in 2007.Net premiums earned grew to $13.203 billion from $12.297 billion in 2007. Commenting on the results, Evan G. Greenberg, Chairman and CEO of ACE Limited said "ACE produced strong operating results in one of the most difficult quarters in modern history for financial services companies. In the quarter, we began to improve our price-to-exposure from firming insurance prices and gain market share in certain classes from weakened competitors. While the recessionary conditions are formidable, we are encouraged by government efforts to stimulate the economy." Shares of the company fell over 4% in extended trading.

Alliance Data Systems Corp. (NYSE: ADS) said that its fourth quarter net income jumped to $51.9 million or 79 cents a share from $33.9 million or 42 cents a share in the year-ago period. Revenue fell 3% to $508 million from $522 million in the fourth quarter of 2007. Analysts expected the company to report earnings of $1.16 a share for the quarter on revenue of $527.85 million. Looking ahead, for 2009, the company expects cash earnings of $5.15 to $5.20 a share on revenue of $2.2 billion. Analysts currently expect the company to earn $5.07 a share for the year on revenue of $2.12 billion. Chairman and CEO Mike Parks said in a statement "The business model continues to produce solid results, as evidenced by cash earnings per share growth of over 30 percent." Alliance Data Systems rose 1.14% in post market trading.

Electronic Arts Inc.(NASDAQ: ERTS) reported a wider net loss of $641 million, or $2 a share, compared to a loss of $33 million, or 10 cents a share in corresponding quarter of last year. On an adjusted basis, the company earned $179 million, or 56 cents a share. Revenue surged 10% to $1.65 billion. Consensus expectations were for earnings of 88 cents a share on revenue of $1.9 billion. CEO John Riccitiello said in a statement “Our holiday quarter came in below our expectations and we have significantly reduced our financial outlook for fiscal 2009, a clear disappointment.” He added “We delivered on game quality and innovation in calendar 2008, with 13 titles rated 80 or above - more than any third-party publisher. We expect to build on this great quality record in the year ahead while delivering more profitability.” Shares of Electronic Arts were up 3.87% in late trading.

Illumina Inc.