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Earnings Analysis: 
CNA Surety Net Income Rises 19%
Author: 123jump.com Staff
123jump.com
Last Update: 3:31 PM EST October 30 2006



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CNA Surety net income increased on higher premiums, lower expenses and better yields on investments in the quarter. Magal Security Systems net surged on 2.5% higher revenue. SkyWest net income rose 35% as the company’s revenue climbed 63.3% due to an increase in capacity, or available seat miles.

 
SkyWest Inc. (SKYW: chart), regional flier SkyWest Airlines operator, reported third-quarter net income of $40.7 million, or 63 cents per share, versus $30.1 million, or 51 cents a share, in the year-earlier period. Revenue in the three months jumped more than 59% to $791.8 million from $497.3 million during the last-year period. The revenue climbed on a 63.3% increase in capacity, or available seat miles.

Magal Security Systems Ltd. (MAGS: chart), engaged in the development, manufacturing and marketing of computerized security systems, said its third-quarter net income rose $623,000, or 6 cents per share compared to net loss of $376,000, or 4 cents per share in the same quarter last year. Revenue climbed 2.5% to $16.2 million from $15.8 million during the last-year period.

CNA Surety (SUR: chart), surety insurer, reported third-quarter net income of $23.6 million, or 54 cents per share, compared to $19.8 million, or 46 cents per share a year earlier, due to higher premiums, lower expenses and better yields on investments. Revenue increased 12% to $112 million.

FPL Group Inc. (FPL: chart), utility owner, reported third-quarter earnings of $524 million, or $1.32 per share, from $339 million, or 87 cents per share, a year earlier, thanks to an increase of customers. Revenue climbed to $4.69 billion from $3.5 billion in the third quarter last year.

Verizon Communications (VZ: chart), communication services worldwide provider, said that its third-quarter earnings increased to $1.92 billion, or 66 cents per share, from a year-ago profit of $1.87 billion, or 67 cents per share. Revenue jumped 26% to $23.25 billion from $18.49 billion in the same period a year earlier.

Clear Channel Communications Inc. (CCU: chart), radio stations operator, reported third-quarter net income of $185.9 million, or 38 cents per share versus $205.5 million, or 38 cents per share a year earlier. Revenue climbed to $1.79 billion versus $1.68 billion in the year-ago period.

Republic Services Inc. (RSG: chart), transfer and disposal services provider, said its profit jumped 21% to $77.3 million, or 58 cents per share from $63.8 million, or 45 cents per share, a year ago. Revenue climbed 8% to $787 million from $730 million a year earlier.
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