Published March 11, 2010
BMW Inc. today announced full year 2009 earnings, reporting significant declines in net profit and total sales.
The company said net profit was EUR 210-million, down 36.36-percent from EUR 330-million in fiscal 2008.
Operating income before taxes was up to EUR 413-million, 18-percent up from 2008.
BMW said it sold 1.28-million vehicles in 2009, a sharp drop of over 12-percent from 2008 as people shifted to smaller, less luxurious and more affordably priced vehicles because of the financial and credit crunch.
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Published March 09, 2010
Scotiabank reports record quarterly profits as credit losses materially decline
Canada’s third-largest Bank, the Bank of Nova Scotia, reported today first quarter 2010 earnings, beating analyst expectations.
The bank earned just under $4-billion in total revenue for Q1, reporting $988-million ($0.91 per share) in total profits for the period, compared to $842-million net income in the same period last year. Analysts surveyed by Thomson Reuters were expecting $3.8-billion in total revenue and profits of $0.88 on a per share basis.
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Published March 03, 2010
Adidas reports poor 2009 earnings as FIFA World Cup approaches
The German apparel company, Adidas, today announced full year 2009 and fourth quarter 2009 financial earnings.
Fourth-quarter profits were €19-million, down more than 60-percent compared to the same period last year. The company said write-downs and higher costs for the 2010 FIFA World Cup this June attributed to the lower than expected operating profits.
Analysts were expecting €25-million in total profits in Q4 2009.
The company warned of an expected weakening in 2010, but increased its forecasted diluted EPS that is estimated to be up to €1.90-2.15 in 2010. 2009 diluted EPS was €1.22.
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Published March 02, 2010
Credit crisis seems over as Canadian bank loan loss provisions fall materially
Canada’s fourth-largest bank, the Bank of Montreal, today announced Q1 2010 earnings for the period ended January 31, 2010.
The bank reported net income from operations as CDN $657-million, exponentially up from $225-million in the same period over last year.
The bank said loan losses from Canadian operations declined, allowing the company to lower capital adequacy reserves as deposits grew. Loan losses from the U.S. increased, earning BMO a $16-million net profit from U.S. operations.
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Published February 24, 2010
Maple Leaf Foods reports strong 2009 earnings after fatal bacteria outbreak in 2008
Toronto-based Maple Leaf Foods Inc. today announced [PDF] Q4 2009 and full year fiscal 2009 financial earnings.
The company said sales were CDN $1.324-million in Q4 2009, immaterially down from the same period last year. Net of all expenses and charges, the company reported $21.9-million ($0.19 per share) in profits in the fourth quarter of 2009.
Aggregate sales for 2009 totaled $5.2-billion. Net earnings in 2009 were $57.8-million, compared to $35.4-million in 2008.
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Published February 19, 2010
The world’s biggest food company posted stronger than expected 2009 earnings
The Switzerland-based food company, Nestle, today announced full year fiscal 2009 earnings, beating Wall Street expectations.
Aggregate sales in 2009 were 107.62-billion francs, down 2-percent YoY. Nestle’s organic business missed internal sales growth forecasts for the year, growing 4.1-percent, compared to 5-pecent expected growth.
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Published February 11, 2010
Sun Life Financial posts lower 2009 income as aggregate fund value rises
Sun Life Insurance Company has released Q4 2009 financial earnings (PDF) today.
The company reported net income of $296-million, up significantly from the same period last year when it earned $129-million.
On a per share diluted basis, Sun Life earned $0.52, compared to $0.23 in Q4 2008, but significantly missed Wall Street analyst expectations who were forecasting earnings up to $0.65 per share.
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Published February 09, 2010
The world’s top soft-drink-maker posted strong profits as North American consumption declined
The top soft-drink-maker based in Atlanta, Coca-Cola Company, reported Q4 2009 earnings in line with Wall Street expectations.
Total operating revenue for the period was $7.51-billion, up five-percent over the same period last year. The company recorded a $1.54-billion total profit ($0.66 per share) in Q4; materially up from $995-million ($0.43 per share) from the same period last year.
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Published February 08, 2010
The top game-maker Electronic Arts posts Q3 loss, lowers future expected earnings
North America’s largest game-maker, Electronic Arts, announced today Q3 2010 financial earnings, posting a significant $82-million ($0.25 per share) loss. The loss compares to a $641-million loss in the same period last year.
The company missed Wall Street expectations by reporting total revenue for the quarter at $1.243-billion, compared to $1.654-billion in Q3 2009, a year ago.
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Published February 01, 2010
ExxonMobil 2009 profits slide after record 2008 profits
The largest U.S. based oil company, and the most traded oil company in the world, ExxonMobil, today announced Q4 financial earnings, and full year 2009 earnings.
Exxon reported a material 23-percent decline in Q4 profits, compared to the same period last year. The company earned a $6.05-billion profit ($1.27 per share) in Q4 2009, compared to $7.82-billion YoY. Q4 2008revenue was $84.7-billion.
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