Wright Express 4Q earnings plunge on bad fuel bets
Wright Express Corp., a payment processor for commercial and government vehicle fleets, said Wednesday its fourth-quarter earnings plunged 81 percent due to bad bets on the wavering price of fuel.
The company earned $12.1 million, or 31 cents per share, compared with $65 million, or $1.66 per share, in the same period last year.
The 2009 period included $14 million pretax loss related to the company’s bets on fuel prices. In the fourth-quarter of 2008, the company had a pretax gain of $86.2 million. Diesel prices were sinking rapidly in the fourth-quarter of 2008, coming off an all-time high that summer. Diesel recovered last year, following oil prices that roughly doubled from March to December.
Excluding one-time gains and losses, Wright Express earned $22.1 million, or 56 cents per share, compared with $12.5 million, or 32 cents per share a year ago. [Read the full article]
American Claims Evaluation, Inc. (the “Company”) (NASDAQ:AMCE – News) announced revenues of $1,734,379 and a net loss of $266,512 ($.06 net loss per share) for the three months ended December 31, 2009. By comparison, the Company reported revenues of $1,439,638 and a net loss of $221,344 ($.05 net loss per share) for the three months ended December 31, 2008.
During the fiscal year ended March 31, 2009, the Company acquired all of the issued and outstanding shares of Interactive Therapy Group Consultants, Inc. and also completed the disposition of its wholly-owned subsidiary, RPM Rehabilitation & Associates, Inc. (“RPM”). Accordingly, all results related to RPM have been reflected as discontinued operations. [Read the full article]
Next Inning Technology Research (http://www.nextinning.com), an online investment newsletter focused on semiconductor and technology stocks, announced it has updated outlooks for MIPS Technologies (Nasdaq: MIPS), EZchip Semiconductor (Nasdaq: EZCH), Cisco Systems (Nasdaq: CSCO), Microchip Technology (Nasdaq: MCHP) and Applied Materials (Nasdaq: AMAT).
Editor Paul McWilliams has displayed uncanny accuracy in predicting the ebb and flow of the markets during the last 12 months. He not only called the relief rally that started in November 2008 and nailed the March bottom to the day, he also predicted the catalysts that would fuel what has been one of the most significant recovery rallies in NASDAQ history.
In a new special report, “10 Tech Trends for 2010,” McWilliams lays out his predictions for 2010 covering important stories from cloud computing to virtualization to data centers and solid state drives. [Read the full article]
Federal Signal Corporation (NYSE: FSS), a leader in advancing security and well-being, will announce fourth quarter 2009 earnings before the market opens on Tuesday, February 23, 2010. The company will also host an investor conference call at 10 a.m. Eastern time the same day with William H. Osborne, president and CEO, and William Barker, senior vice president and CFO. Investors and analysts may access the webcast at http://www.federalsignal.com. An archived replay of the investor conference call will be available on the company’s website shortly after the call concludes. [Read the full article]