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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Published January 21, 2010
The largest credit card creditor, American Express, published its Q4 2009 earnings, doubling its profits from the same period in 2008.
The company reported net income as $716-million in Q4, compared to only $240-million in the same period last year. The increase represented a massive 198-percent increase from a year ago.
American Express said in a written statement, “We still face the challenge of high unemployment levels, depressed real estate values, and shrunken household balance sheets, but the overall economy and our company are in stronger shape than they were a year ago.”
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Published January 20, 2010
The world’s largest coffee retailer, Starbucks Inc., announced late today very strong Q1 2010 earnings.
Total revenue for Q1 2010 was $2.72-billion, compared to $2.62-billion in the same period last year.
Starbucks posted total profits of $241.5-million ($0.32 per share), the most the company has ever recorded in a single quarter. The numbers compare to only a $64.3-million profit in the same period last year as people spent less due to the global economic downturn.
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Published January 20, 2010
The sixth largest U.S. Bank, Morgan Stanley investment bank, posted lower than expected Q4 2009 earnings. The financial intermediary earned $617-million in revenue, posting a $413-million ($0.14 per share) profit in Q4. Total employee compensation in Q4 2009 was $3.7-billion. Earnings were drawn down from debt accounting charges. The Q4 2009 results compare with a $2.3-billion loss in the same period in 2008.
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