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Earnings Review: February 24, 2009
By: iStockAnalyst   Tuesday, February 24, 2009 7:48 PM

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(By Salman - iStockAnalyst Writer)

Late on Tuesday, Carter's Inc. (NYSE: CRI) announced that its fourth-quarter net income fell 4% to $27.3 million, or 47 cents a share, from $28.6 million, or 48 cents per share in the prior year quarter. Revenue rose 7% to $422 million from $393.4 million. Analysts on average were looking for earnings of 47 cents a share on revenue of $413.3 million. Commenting on the results, Chief Executive Officer Michael D. Casey said "We are very encouraged by our fourth quarter performance, particularly given the significant slowdown in consumer spending and the negative macro-economic environment. It is clear that the Carter's and OshKosh brands continue to resonate with consumers. While we are cautious in our outlook, we believe the investments we've made in product benefits, brand presentation, and our retail store operations will strengthen our overall market position and profitability." Shares of Carter's rose 29 cents or 2.05% to $14.42 in regular trade on Tuesday.

Crown Castle International Corp. (NYSE: CCI) said that its fourth quarter net loss narrowed to $69.0 million or 24 cents a share compared to a loss of $85.4 million or 30 cents a share in the corresponding quarter, a year ago. Revenue grew to $392.02 million from $375.16 million. Analysts on average had expected the company to report a loss of 4 cents a share on revenue of $385.36 million. President and CEO Ben Moreland stated "Despite current economic conditions, leasing demand for our towers remains strong and consistent with levels experienced in 2007 and 2008, fueled by the continued demand for voice and 3G data services and the continued migration from landlines to wireless. “Looking ahead, for the first quarter, the company expects to report a loss of 14 cents a share or a profit as great as 6 cents a share. For the full fiscal year 2009, the company anticipates that it will break even on a per-share basis or report a loss of up to 51 cents a share. Crown Castle tumbled over 6% in extended trading.

DreamWorks Animation Inc. (NYSE: DWA) reported that its fourth-quarter net income fell to $51.6 million, or 58 cents a share, from $94.1 million, or 98 cents a share, in the year ago quarter. Revenue declined to $199.8 million from $290.2 million. Street Analysts had projected earnings of 61 cents a share on revenue of $231.3 million. Looking forward, in 2009, DreamWorks expects results to be driven primarily by Madagascar: Escape 2 Africa and Monsters vs. Aliens, which opens domestically on March 27. CEO Jeffrey Katzenberg said in a statement "Box office receipts from Kung Fu Panda and Madagascar: Escape 2 Africa - the two highest-grossing family films of the year - together exceeded $1.2 billion, making 2008 one of DreamWorks Animation's most successful years ever." Shares of the company slumped 5.47% in late trading.

First Solar, Inc.

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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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