(By Salman - iStockAnalyst Writer)
Late on Monday, Air Transport Services Group Inc. (NASDAQ: ATSG) said that it swung to a fourth-quarter loss of $64.2 million, or $1.03 a share, compared with net income of $8.4 million, or 14 cents a share, in the year-ago period. Revenue climbed 35% to $430.7 million. CEO Joe Hete said in a statement "Our ability to generate strong cash flow from our valuable aircraft assets under multiple business models is a unique, underappreciated strength of ATSG."

China Recycling Energy Corp. (OTC BB: CREG.OB) reported that its fourth quarter net income more than doubled to $2.31 million, or 4 cents a share, compared to $0.73 million, or 2 cents a share, in the year-ago quarter. Revenue grew to $12.34 million from $4.26 million. CEO Guohua Ku said "Looking forward, we are encouraged that the Chinese government has earmarked $31 billion, or 5% of the country's $584-billion stimulus package, for the creation of a sustainable environment. We believe the bulk of the spending will be to reduce the pollution generated by heavy-industrial plants in Northern and Western China, stimulating the growth of the use of low-emission and energy-efficient power generators by our customers in the steel, cement and chemical sectors. Considering this robust market condition, we expect to complete at least 3 projects this year, including Shengwei's phase two which should be completed in the second quarter of 2009, with a projected product sales of approximately $8 million and additional interest income of approximately $1 million in 2009."

Phillips-Van Heusen Corp. (NYSE: PVH) announced that it swung to a fourth quarter net loss of $37.9 million, or 74 cents a share, compared to a net income of $30.3 million, or 55 cents a share, in the year ago quarter. On an adjusted basis, the company earned 30 cents a share. Revenue declined to $577.8 million from $584.5 million. Analysts on an average expected earnings of 28 cents a share on revenue of $581.7 million. Looking ahead to the first quarter, Phillips-Van Heusen expects to report earnings in the range of 33 cents to 43 cents a share on revenue of $530 million to $540 million. For full year 2009, the company expects to post earnings in the range of $1.88 to $2.18 a share while revenue is expected to drop 7% to 8% from 2008. Shares of the company fell 3.32% in late trading.

Rubio's Restaurants Inc. (NASDAQ: RUBO) reported that its fourth quarter loss narrowed to $190 thousands, or 2 cents a share, compared to a loss of $242 thousands, or 2 cents a share, in the corresponding quarter a year earlier. Revenue climbed 7.8% to $44.98 million from $41.71 million. Chief Financial Officer Frank Henigman commented "Our balance sheet remains strong with $5.8 million in cash and no debt. In addition, our business is generating significant operating cash flow, $12.8 million in 2008, and we have over $17 million in capacity on our credit facility in order to meet our liquidity needs should the economy worsen, or to allocate capital opportunistically if the economy stabilizes or improves."

Sonic Corp. (NASDAQ: SONC) said that its second-quarter net income declined to $8.7 million, or 14 cents a share, from $9.3 million, or 15 cents, in the corresponding quarter last year. Revenue dropped to $169 million from $174.6 million. Analysts on average had projected earnings of 9 cents a share on revenue of $171.9 million. Chairman and CEO Clifford Hudson stated "We anticipate these improvements in our menu strategy, combined with an easing of commodity costs later this year, will position partner drive-ins and our entire chain for improved sales performance and profits in the second half of the fiscal year." Shares of the company gained over 7% in extended trading.
 
Disclosure: Author does not own any of the stocks discussed here.