Ameristar Casinos posts smaller 4th-quarter loss

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City of Industry, CA LAS VEGAS (AP) -- Ameristar Casinos posted a smaller fourth-quarter loss Wednesday as the company cut costs to offset slower gambling business.


Like many casino operators, Ameristar has looked to trim costs during the recession as gamblers spend less. To that end, the company lowered its operating expenses to $363.3 million from $441.5 million in the quarter.

Ameristar lost $63.3 million, or $1.10 per share, compared with a loss of $101.1 million, or $1.77 per share, during the same period a year ago.

Excluding 16 cents per share related to a higher interest expense and other items, earnings were 11 cents per share.

Revenue for the three months ended Dec. 31 dipped 1 percent to $291.3 million from $293.6 million due to the recession, the permanent closure of a bridge near its Ameristar East Chicago casino complex and bad weather in the Midwest.

For the year, Ameristar's loss narrowed to $4.7 million, or 8 cents per share, from $130.7 million, or $2.28 per share. [Read the full article]

KARIYA, Japan, Feb. 3 /PRNewswire/ -- DENSO Corporation today announced its third quarter global financial results for the nine months ending Dec. 31, 2009:

Consolidated net sales totaled 2,118.2 billion yen (US$23.0 billion), a 19.5 percent decrease from the previous year.Consolidated operating income totaled 78.8 billion yen (US$855.4 million), a 7.5 percent decrease from the previous year.Consolidated net income totaled 50.4 billion yen (US$546.9million), a 35.8 percent increase from the previous year.

"Despite the positive effects from each country's incentive programs, our sales and operating income have decreased, mainly due to vehicle inventory adjustments by car manufacturers in the first half of the year and a substantial currency exchange loss," said Sadahiro Usui, managing officer of DENSO Corporation. [Read the full article]

TOWSON, Md. (AP) -- Black & Decker said Wednesday its fourth-quarter profit fell on expenses related to its $4.5 billion acquisition by Stanley Works.

The power tool company has been hit by the recession and housing crisis, but said it expects a "modest improvement" in many of its markets this year as the economy recovers.

Black & Decker's earnings slipped 22 percent to $33.9 million, or 55 cents per share, compared with $43.7 million, or 72 cents per share, a year earlier.

Analysts polled by Thomson Reuters, whose estimates normally remove one-time items, expected a much smaller profit of 76 cents per share.

The results were also well above Black & Decker's prediction for earnings between 68 cents and 78 cents per share.

When the new company emerges as Stanley Black & Decker in the first half of this year, it will be the nation's largest tool company. Both companies will hold special shareholders meetings on March 12 to vote on the transaction. [Read the full article]

JACKSONVILLE, Fla., Feb. 3 /PRNewswire-FirstCall/ -- Patriot Transportation Holding, Inc. (Nasdaq: PATR) reported income from continuing operations of $1,312,000 or $.42 per diluted share in the first quarter of fiscal 2010, a decrease of 32.5% compared to $1,943,000 or $.63 per diluted share in the same period last year.  

Transportation segment results were lower due to reduced miles driven and lower fuel surcharges.  The real estate segment's results were impacted by lower royalty revenues and lower developed property occupancy.  

First Quarter Operating Results.  For the first quarter of fiscal 2010, consolidated revenues were $27,500,000, a decrease of $3,344,000 or 10.8% over the same quarter last year.

Transportation segment revenues were $22,081,000 in the first quarter of 2010, a decrease of $2,901,000 over the same quarter last year.  Revenue miles were down 9.2% compared to the first quarter of 2009 due to lower demand and a competitive climate. [Read the full article]

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