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Earnings Analysis: 
Bank of America Net Loss; Coach, Inc Net Rises 11%
Author: Mita Yagnik
123jump.com
Last Update: 10:39 AM ET January 20 2010


Bank of America Corporation fourth quarter revenues rose 60% to $25.08 billion and net loss was $5.2 billion or 60 cents a share. Coach, Inc second quarter sales rose 11.4% to $1.07 billion and net income rose 11% to $241 million or 75 cents a share.

 
[R]10:30AM New York - Bank of America Corporation revenue rose 60% and net loss was $5.2 billion. Coach, Inc sales rose 11.4% and net income rose 11%.[/R]

Applied Industrial Technologies, Inc, the industrial parts distributor reported second quarter sales fell 11% to $446.3 million from $502.4 million a year ago. Net income in the quarter fell 35% to $10.5 million or 24 cents per diluted share compared to net income of $16.2 million or 38 cents per share a year ago.

Applied Industrial Technologies, Inc (AIT: chart) in the last one year traded as high as $24.56 in January 2010 and as low as $14.63 in March 2009. Based on the yesterday’s closing price of $24.30 the company has market cap of $1.03 billion.

Bank of America Corporation, the bank reported fourth quarter revenues rose 60% to $25.08 billion from $15.68 billion a year ago. Net loss in the quarter was $5.2 billion or 60 cents per diluted share compared to net loss of $2.4 billion or 48 cents per share a year ago.

Total revenues for the fiscal year 2009 rose 64% to $119.6 billion from $72.8 billion a year ago. Net income for the year fell 15.4% to $2.2 billion or 29 cents per diluted share compared to net income of $2.6 billion or 54 cents per share a year ago.

Bank of America Corporation (BAC: chart) in the last one year traded as high as $19.10 in October 2009 and as low as $2.53 in March 2009. Based on the yesterday’s closing price of $16.32 the company has market cap of $141.18 billion.

The Bank of New York Mellon Corporation, the bank reported fourth quarter net interest revenues fell 31% to $724 million from $1.05 billion a year ago. Net income in the quarter was $593 million or 49 cents per diluted share compared to net income of $28 million or 2 cents per share a year ago.

Net interest revenues for the fiscal year 2009 rose 2% to $2.92 billion from $2.86 billion a year ago. Net loss for the year was $1.37 billion or $1.16 per diluted share compared to net income of $1.39 billion or $1.20 per share a year ago.

The Bank of New York Mellon Corporation (BK: chart) in the last one year traded as high as $33.62 in April 2009 and as low as $15.44 in March 2009. Based on the yesterday’s closing price of $29.53 the company has market cap of $35.56 billion.

Brinker International, Inc, the parent company of Chili''s Grill & Bar reported second quarter revenues fell 17.6% to $781.9 million from $949.4 million a year ago. Net income in the quarter was $18.3 million or 18 cents per diluted share compared to net loss of $21.8 million or 21 cents per share a year ago.

Comparable same-stores sales fell 3.1%.

Brinker International, Inc (EAT: chart) in the last one year traded as high as $20.09 in April 2009 and as low as $7.95 in January 2009. Based on the yesterday’s closing price of $15.31 the company has market cap of $1.57 billion.

Coach, Inc., the luxury handbag maker reported second quarter sales rose 11.4% to $1.07 billion from $960.3 million a year ago. Net income in the quarter rose 11% to $241 million or 75 cents per diluted share compared to net income of $217 million or 67 cents per share a year ago.

Coach, Inc. (COH: chart) in the last one year traded as high as $38.65 in January 2010 and as low as $11.41 in March 2009. Based on the yesterday’s closing price of $37.45 the company has market cap of $11.94 billion.

Dr. Reddy’s Laboratories Limited, the pharmaceutical company reported third quarter sales fell 6% to $373 million from $397 million a year ago. Net loss in the quarter was $112 million or 7 cents per diluted share compared to net income of $53 million or 3 cents per share a year ago.

Dr. Reddy’s Laboratories Limited (RDY: chart) in the last one year traded as high as $27.33 in January 2010 and as low as $7.27 in March 2009. Based on the yesterday’s closing price of $26.17 the company has market cap of $4.41 billion.

Jefferies Group, Inc, an investment bank reported fourth quarter revenues rose 150% to $622.0 million from $249 million a year ago. Net income in the quarter was $93.5 million or 46 cents per diluted share compared to net loss of $440 million or $2.39 per share a year ago.

Total revenues for the fiscal year 2009 rose 47% to $2.47 billion from $1.68 billion a year ago. Net income for the year rose 30% to $280 million or $1.38 per diluted share compared to net loss of $536.1 million or $3.27 per share a year ago.

Jefferies Group, Inc (JEF: chart) in the last one year traded as high as $30.99 in October 2009 and as low as $8.04 in March 2009. Based on the yesterday’s closing price of $25.91 the company has market cap of $4.30 billion.

Marshall & Ilsley Corporation, the bank reported fourth quarter net interest income fell 13.4% to $406.1 million from $469.0 million a year ago. Net loss in the quarter was $259.5 million or 54 cents per diluted share compared to net loss of $1.89 billion or $7.25 per share a year ago.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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