UPDATE 2- FCStone swings to Q3 net loss

Thu Jul 9, 2009 8:20pm BST
 
Email | Print | | Single Page
[-] Text [+]

* Q3 net loss from cont ops $0.29/shr

* Excl items co would have Q3 profit of $0.02/shr

* Q3 rev $57.5 mln vs $83.6 mln last year

(Adds conference call details, analyst comments, updates share price)

By Brenton Cordeiro

BANGALORE, July 9 (Reuters) - Commodity risk management firm FCStone Group Inc FCSX.O swung to a quarterly loss, hurt by a bad debt provision, higher professional fees and severance charges.

The company posted a net loss from continuing operations for the third quarter of $8.1 million, or 29 cents per share, compared with a net income from continuing operations of $8.4 million, or 29 cents a share last year.

Excluding items, FCStone had a net income of 2 cents per share, the company said.

"The earnings were disappointing but the signals are maybe they're through the worst," said Niamh Alexander, analyst at Keefe, Bruyette & Woods.  Continued...

 

Most Popular General News on Reuters UK

  • Articles
  • Videos