Rochester, NY 7/14/2009 4:35:45 AM
FCSX - Quarterly Loss and Bad Debt for FCStone Group, Inc. - Sourced WhisperFromWallStreet.com
FCStone Group, Inc.
FCStone Group, Inc.,FCSX
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.
ABOUT
FCStone Group, Inc., through its subsidiaries, operates as an integrated commodity risk management company primarily in the United States. The company provides risk management consulting and transaction execution services to commercial commodity intermediaries, end-users, and producers. It assists primarily middle market customers in optimizing their profit margins and mitigating their exposure to commodity price risk. The company operates through three segments: Commodity and Risk Management Services, Clearing and Execution Services, and Financial Services.
Last Trade: 20.72
Day's Range: 20.12 - 20.73
52wk Range: 13.80 - 23.62
Volume: 26,517,971
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