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Stock News - (NASDAQ:ACAS) Up 21% as it swings to profit
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American Capital Ltd. (NASDAQ:ACAS) jumped 21% to $3.30 in opening sessions after reported net operating income for the third quarter of $32 million or $0.12 per share, compared to $153 million or $0.74 per share in the year-ago quarter.
Net income for the quarter was $77 million or $0.30 per share, compared to a loss of $548 million or $2.63 per share in the prior year quarter.
Total operating income for the quarter fell to $193 million from $278 million in the year-ago quarter.
On average, analysts polled by Thomson Reuters expected the company to earn $0.12 per share on revenues of $155.30 million for the quarter. Analysts' estimates typically exclude special items.
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