This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

United Capital Corp. Reports Fourth Quarter And Year End Results

United Capital Corp. (NYSE Amex: AFP) today reported results for the fourth quarter and year ended December 31, 2010 (see Table attached).

Net income increased 124% for the year ended December 31, 2010 to $12.7 million, or $1.41 per basic share, versus net income of $5.7 million, or $.63 per basic share, for the full year of 2009. Total revenues grew 35% to $80.7 million in the current year, while operating income increased 81% to $12.0 million and income from continuing operations doubled to $12.1 million in 2010, compared to the respective 2009 results.

In the fourth quarter of 2010 net income rose 44% to $2.5 million, from $1.7 million reported in the same quarter of 2009. On a per share basis, earnings were $.28 per basic share for the three months ended December 31, 2010, compared to $.19 in the comparable 2009 period. Total revenues for the current quarter were $20.6 million, an increase of 15% from that reported in the fourth quarter of last year, leading to a 25% improvement in operating income and a 51% increase in income from continuing operations.

The Company’s engineered products segment generated revenue growth of 29% and 39% in the fourth quarter and full year of 2010, respectively, versus the comparable intervals of 2009, resulting in the reversal of a full year loss in the prior year.

Annual revenues from our hotel operations climbed 61% over the prior year as a result of the August 2009 acquisition of the DoubleTree Hotel & Miami Airport Convention Center, as well as from improvements in our other lodging properties, which resulted in operating profits in the quarter and year ended December 31, 2010 versus losses incurred in the corresponding prior year periods.

In commenting on these results, A.F. Petrocelli, Chairman of United Capital Corp., noted: “The strength and resilience of our core businesses have once again led to another outstanding year.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs