W.P. Stewart & Co., Ltd. Reports Net Income For Fourth Quarter and Full Year 2006 of US$11.6 Million and US$37.5 Million.(Financial report)
PR Newswire Europe, February, 2007
HAMILTON, Bermuda, February 13 /PRNewswire/ --
- Diluted earnings per share of US$0.25 and US$0.82 for the fourth quarter and full year, respectively
W.P. Stewart & Co., Ltd. today reported net income of US$11.6 million, or US$0.25 per share (diluted) and US$0.25 per share (basic), for the fourth quarter ended 31 December 2006. This compares with net income in the fourth quarter of the prior year of US$2.8 million, or US$0.06 per share (diluted) and US$0.06 per share (basic). Fourth quarter 2005 earnings included a non-recurring, non-cash charge of approximately US$12.5 million (US$0.27 per share, diluted) reflecting an impairment of customer-related intangible assets. Excluding this charge, fourth quarter 2005 net income was US$15.2 million or US$0.33...
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