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Earnings Analysis: 
Eaton Vance First-Quarter Earnings Fall 93%
Author: 123jump.com Staff
123jump.com
Last Update: 12:51 PM EST February 28 2007



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Blount International reported lower fourth-quarter results, citing a fall in demand for company’s timber-harvesting equipment products. Leap Wireless International swung to a fourth-quarter loss, as rising equipment, marketing and other costs offset stronger customer gains. Bitstream posted a 20% decline in fourth-quarter profit although company’s revenue jumped 20%.Eaton Vance first-quarter earnings fell 93%, hurt by charges related to fund openings and closings.

 
Blount International Inc. (BLT: chart), which makes outdoor products and industrial and power equipment, said that its fourth-quarter earnings declined to $9.04 million, or 19 cents per share, compared with $56.2 million, or $1.17 per share, in the year-ago period. The company said the results in the year-ago quarter were favorably impacted by a significant income tax benefit. Revenue decreased to $158.1 million versus $176.9 million in the same period a year earlier.

Dycom Industries Inc. (DY: chart), engineering and construction services provider, said that its fiscal second-quarter net earnings increased to $5.59 million, or 14 cents per share, compared with $3.87 million, or 10 cents per share, in the year-ago period. Revenue climbed to $258.3 million versus $237.1 million in the same period a year earlier.

Leap Wireless International Inc. (LEAP: chart), wireless service provider, reported a fourth-quarter net loss of $39.4 million, or 60 cents per share compared with the same quarter last year when the company posted a net profit of $4.95 million, or 8 cents per share. Revenue climbed to $315.5 million versus $228.9 million in the same quarter a year earlier.

Bitstream Inc. (BITS: chart), font and typeface software developer, said that its fourth-quarter net earnings declined to $630,000, or 6 cents per share, compared with $788,000, or 8 cents per share, in the year-ago period. Revenue climbed to $5.55 million against $4.62 million in the same period a year earlier.

Eaton Vance Corp. (EV: chart), investment management firm, said that its first-quarter net income declined to $2.56 million, or 2 cents per share, compared with $39.76 million, or 28 cents per share a year earlier. The company said quarterly earnings were reduced by $52.2 million, or 24 cents per share, due to one-time payments made to terminate closed-end fund compensation agreements with Merrill Lynch and A.G. Edwards. It said one-time structuring fees and incentives in conjunction with a new closed-end fund reduced quarterly earnings by $21.8 million, or 10 cents per share.
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