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Earnings Analysis: 
REX Stores Posts a 46% Net Income Fall
Author: 123jump.com Staff
123jump.com
Last Update: 1:41 PM EDT March 28 2007



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Industrial Services of America Inc. (IDSA), waste and recycling management services provider, said that its fourth-quarter net income increased to $729,728, or 20 cents per share compared with $415,536, or 12 cents per share, in the year-ago period. Revenue declined to $14.6 million versus $19.7 million in the same period a year earlier.

Rex Stores (RSC), specialty consumer electronic products and appliances provider, said that its fourth-quarter earnings declined to $3.6 million, or 30 cents per share compared with a year-ago profit of $6.6 million, or 57 cents per share. On a continuing operations basis, the company earned $4 million, or 34 cents per share, for the January period. Net sales and revenue declined to $104.4 million for the three-month period, from $123.5 million a year earlier. Same-store sales slid 13.7% in the fourth quarter. Rex Stores noted it recorded $4.1 million of income in the latest quarter from synthetic fuel limited partnership investments, investment income and equity in unconsolidated affiliates.

Noble International Ltd. (NOBL), auto parts supplier, narrowed its fourth-quarter loss of $2.2 million, or 16 cents per share, the last-year company''s loss of $4 million, or 29 cents per share. Quarterly sales jumped to $138.2 million from the prior year''s $96.4 million, in part reflecting Warren, Mich.-based Noble''s acquisition of Pullman Industries Inc. The company pegged revenue for 2007 in a range of $640 million to $650 million from current business lines, based on estimated North American light-vehicle production of 15 million units. Noble''s 2006 top line amounted to $441.4 million.
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