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The company reported net income of $50.9 million, or 33 cents a share, for the quarter that ended Oct. 3, which was down from 59 cents a share in the same quarter a year ago.
Revenue fell 3 percent from a year ago but was up sequentially at $4.36 billion.
"While the impact of the global economic slowdown remained evident in our year-over-year revenue decline, our better than expected sequential growth rates provides additional confidence that the business environment is improving," said Chief Executive Roy Vallee.
For the current quarter the firm forecast earnings of 52 to 60 cents a share and revenue of $4.10 billion to $4.7 billion.
To see more of The Tribune, or to subscribe to the newspaper, go to http://www.eastvalleytribune.com. Copyright (c) 2009, The Tribune, Mesa, Ariz. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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