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Earnings Analysis: 
Southern Union Records Loss on Charge
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:23 AM EST March 14 2006



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Southern Union Co, natural gas distributor, reported Q4 loss of $1 a share, incorporating a non-cash charge of about $175 million related to the planned sale of certain natural gas distribution businesses. If not for the charge, the company earned 57 cents a share in Q4, up versus a profit of 19 cents a share a year-earlier.

 
Southern Union, (SUG: chart), operating revenue advanced to $691.7 million from $559.8 million in the same period a year earlier. The analysts’ estimate was for a profit of 42 cents a share. The company forecast earnings of $1.70 to $1.90 a share, apart from items, for fiscal 2006. Analysts’ estimates are for a profit of $1.73 a share for the year. The Southern Union predicts the sale of certain distribution businesses will result in a taxable gain of roughly $700 million.

Goldman Sachs Group Inc., (GS: chart), banking and securities services company, reported that Q1 net income advanced 64% to $5.08 a share a share, almost double from $2.94 a share a year ago and $3.35 a share for Q4 of 2005. Overall, total net revenue grew 61%, amounting to $10.34 billion, from the previous year''s $6.41 billion. Goldman also lifted its quarterly dividend to 35 cents a shares from 25 cents.

Evolving Systems, Inc, (EVOL: chart), a leading provider of innovative software solutions, reported Q4 Net income results 5 cents per share, reversing from a net loss of 20 cents share in the same period a year ago. Q4 revenue rose 6% to $10.1 million from $9.6 million in Q4 a year ago. Total costs of revenue and operating expenses in Q4 declined 7%. The decline reflects the synergies of the Tertio acquisition, which resulted in lower employee and subcontractor costs.

Capital Title Group Inc, (CTGI: chart), real estate and mortgage services group, reported Q4 net income of 14 cents a share, down a penny from the year-ago equivalent results. The company added that revenue gained 7.9%. The analyst estimate was for earnings of 13 cents a share. Capital Title said it will be delaying the filing of its annual report on Form 10-K, due mainly to the completion of new audit procedures required under Sarbanes-Oxley legislation. It expects to file the report on or before March 31 2006.

Liberty Global Inc, (LBTYA: chart), broadband cable operator, reported that its 2005 net loss grew to $80.1 million, from $21.5 million in 2004, while pro forma revenue advanced 28% to $5.15 billion. The company added that revenue growth was powered mainly by acquisitions, while profit was reduced by higher interest expense and increased foreign currency transaction losses. The company announced that it expects 2006 revenue to be $6.8 billion.

Air Methods Corp, (AIRM: chart), provider of medical air transportation services, reported Q4 earnings of 29 cents a share, up from a loss of 2 cents a share a year-ago on higher profit to a significant increase in same-base transport as well as an increase in revenue per transport after bad debt expense for its community-based operations. Revenue soared 32%.
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