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Earnings Analysis: 
Enbridge Net Surges; Foster Wheeler Net Drops
Author: Trupti Mehta
123jump.com
Last Update: 10:27 AM ET May 06 2009


Enbridge Inc first quarter sales fell 4.7% to $3.78 billion and net income rose 122% to $558.1 million or $1.53 a share. Foster Wheeler AG first quarter revenues fell 28% to $1.3 billion and net income fell 47% to $72.9 million or 57 cents a share.

 
[R]10:00AM New York – Enbridge Inc sales fell 4.7% and net income rose 122%. Foster Wheeler AG revenue fell 28% and net income fell 47%.[/R]

ACCO Brands Corporation, office supply products maker reported first quarter sales fell 27% to $293.4 million from $400.0 million a year ago. Net loss in the quarter was $7.0 million or 13 cents per diluted share compared to net loss of $1.8 million or 3 cents per share a year ago.

ACCO Brands Corporation (ABD: chart) in the last one year traded as high as $15.80 in May 2008 and as low as $0.65 in February 2009. Based on the yesterday’s closing price of $3.60 the company has market cap of $195.90 million.

Acorda Therapeutics, Inc, a commercial-stage biopharmaceutical company reported first quarter sales rose 8.7% to $12.5 million from $11.5 million a year ago. Net loss in the quarter was $18.7 million or 50 cents per diluted share compared to net loss of $16.4 million or 54 cents per share a year ago.

Acorda Therapeutics, Inc (ACOR: chart) in the last one year traded as high as $35.65 in July 2008 and as low as $14.42 in December 2008. Based on the yesterday’s closing price of $19.50 the company has market cap of $736.61 million.

Boyd Gaming Corporation, a casino operator reported first quarter sales fell 7.7% to $434.8 million from $471.1 million a year ago. Net loss in the quarter was $13.8 million or 16 cents per diluted share compared to net loss of $32.6 million or 37 cents per share a year ago.

Boyd Gaming Corporation (BYD: chart) in the last one year traded as high as $19.45 in May 2008 and as low as $2.81 in November 2008. Based on the yesterday’s closing price of $11.31 the company has market cap of $975.62 million.

Calumet Specialty Product Partners, L.P, a producer of specialty hydrocarbon products in North America reported first quarter sales fell 30.3% to $414.3 million from $594.7 million a year ago. Net income in the quarter was $75.6 million or $2.30 per diluted share compared to net loss of $3.4 million or 10 cents per share a year ago.

Calumet Specialty Product Partners, L. (CLMT: chart) in the last one year traded as high as $16.91 in May 2008 and as low as $5.77 in November 2008. Based on the yesterday’s closing price of $11.58 the company has market cap of $373.25 million.

Enbridge Inc, the energy transportation and distribution company reported first quarter sales fell 4.7% to $3.78 billion from $3.97 billion a year ago. Net income in the quarter rose 122% to $558.1 million or $1.53 per diluted share compared to net income of $251.3 million or 70 cents per share a year ago.

Enbridge Inc (ENB: chart) in the last one year traded as high as $46.76 in May 2008 and as low as $26.29 in November 2008. Based on the yesterday’s closing price of $32.47 the company has market cap of $12.14 billion.

ExlService Holdings, Inc, a provider of outsourcing and transformation services reported first quarter sales fell 7.7% to $41.0 million from $44.4 million a year ago. Net income in the quarter fell 57% to $2.9 million or 10 cents per diluted share compared to net income of $6.8 million or 23 cents per share a year ago.

ExlService Holdings, Inc (EXLS: chart) in the last one year traded as high as $25.00 in May 2008 and as low as $4.43 in October 2008. Based on the yesterday’s closing price of $8.98 the company has market cap of $259.11 million.

Forestar Group Inc, operates in real estate, mineral resources and fiber resources reported first quarter sales fell 22% to $29.1 million from $37.2 million a year ago. Net loss in the quarter was $3.9 million or 11 cents per diluted share compared to net loss of $0.2 million or 1 cent per share a year ago.

Forestar Group Inc (FOR: chart) in the last one year traded as high as $26.14 in May 2008 and as low as $2.93 in November 2008. Based on the yesterday’s closing price of $13.48 the company has market cap of $449.64 million.

Fortress Investment Group LLC, the private equity and hedge-fund firm reported first quarter revenues fell 39% to $122.3 million from $200.9 million a year ago. Net loss in the quarter was $67.1 million or 71 cents per diluted share compared to net loss of $68.9 million or 74 cents per share a year ago.

Fortress Investment Group LLC (FIG: chart) in the last one year traded as high as $15.89 in May 2008 and as low as $0.77 in December 2008. Based on the yesterday’s closing price of $6.64 the company has market cap of $2.70 billion.

Foster Wheeler AG, the engineering and construction contractor and power equipment supplier reported first quarter revenues fell 28% to $1.3 billion from $1.8 billion a year ago. Net income in the quarter fell 47% to $72.9 million or 57 cents per diluted share compared to net income of $138.1 million or 95 cents per share a year ago.

Foster Wheeler AG (FWLT: chart) in the last one year traded as high as $79.97 in May 2008 and as low as $12.73 in March 2009. Based on the yesterday’s closing price of $24.04 the company has market cap of $3.04 billion.

Garmin Ltd, the navigation device maker reported first quarter revenues fell 34% to $437 million from $664 million a year ago. Net income in the quarter fell 67% to $48.5 million or 24 cents per diluted share compared to net income of $147.8 million or 67 cents per share a year ago.
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Market data: BATS Exchange. Inc.

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