fourth-quarter earnings rose 59% from a year ago.
The San Mateo, Calif-based company earned $51.2 million, or 92 cents a share, in the fourth quarter, compared to $32.2 million, or 58 cents a share, a year ago. CNF earned 97 cents a share in the latest quarter from continuing operations. On that basis, analysts surveyed by Thomson First Call were expecting earnings of $1 in the most recent quarter. Revenue increased 12.7% from last year to $1.09 billion, in line with the consensus estimate.
"The organization generated record revenues and income in 2005 by providing exemplary products to the market, effective cost control and maintaining financial discipline," said Douglas W. Stotlar, president and CEO.
Operating profit increased by 15.06% to $90.9 million in the fourth quarter while operating profit margin increased by 17 basis points to 8.34%.
CNF said that it expects earnings from continuing operations to be between 71 cents and 77 cents for the first quarter 2006, below the consensus estimates of 79 cents a share.
The company acquired $37.5 million shares during the fourth quarter of 2005, bringing the full-year 2005 repurchase amount to $149.1 million.
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