(By Salman - iStockAnalyst Writer)

Late on Thursday, Argo Group International Holdings, Ltd. (NASDAQ: AGII) announced that its fourth quarter net income nearly halved to $11.8 million or 38 cents a share from $23.5 million or 76 cents share in the year ago quarter. Revenue jumped 25.6% to $1.255 billion from $1.0 billion. Analysts on an average were looking for earnings of 73 cents a share. For the full fiscal year 2008, Argo Group reported that its net income plunged to $62.9 million or $2.05 a share from $143.8 million or $5.66 a share in 2007. Consensus estimates were for earnings of $2.80 a share on revenue of $1.22 billion. Chief Executive Officer Mark E. Watson III commented "During a year of tremendous market turmoil, Argo Group in 2008 produced top-line growth and improved operating results over the prior year. While the industry sustained well documented challenges, the financial fundamentals of Argo Group remained strong. Moreover, we believe our international specialty platform positions us well to capture additional growth opportunities should the pricing environment in the property and casualty market improve."

Embarq Corp. (NYSE: EQ) late Thursday said that its fourth-quarter net income increased slightly to $191 million or $1.34 a share from $190 million or $1.23 a share in the prior year quarter. Revenue slipped to $1.48 billion. Analysts on average expected earnings of $1.27 a share on revenue of $1.5 billion. Cash flow before dividends for the year was nearly $1.1 billion, the company said. CEO Tom Gerke said in a statement “The strength of our cash flow results, particularly given the economic environment, illustrates the durability of our business model and the focus of the Embarq team,” He added “Maintaining this focus will remain a high priority as we work toward our goal of closing our merger with CenturyTel in the second quarter.”

Gardner Denver Inc. (NYSE: GDI) reported that its fourth quarter net income nearly halved to $30.92 million or 60 cents a share from a net income of $63.87 million or $1.18 a share in the comparable quarter of 2007. On an adjusted basis, th company earned 74 cents a share, compared to $1.03 a share in the same quarter, a year ago. Revenues grew to $524.24 million from $510.33 million. Analysts on an average had projected earnings of 62 cents a share on revenue of $517.08 million. Looking ahead, for the first quarter, the company expects  to earn in the range of 51 cents to 66 cents a share, excludng charges. Commenting on the results, President and Chief Executive Officer Barry L. Pennypacker said "The global economic environment presented a challenging landscape in the fourth quarter of 2008. For the quarter, orders were less than the previous year in all major product lines except loading arms.