36.50% is the gross profit margin for FBP which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 11.40% is above that of the industry average. Net operating cash flow has increased to $45.76 million or 14.04% when compared with the same quarter last year. Despite an increase in cash flow of 14.04%, FBP is still growing at a significantly lower rate than the industry average of 354.46%. FBP, with its decline in revenue, underperformed when compared with the industry average of 12.2%. Since the same quarter one year prior, revenues slightly dropped by 8.9%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share. The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. When compared with other companies in the commercial banks industry and the overall market, FBP's return on equity is below that of both the industry average and the S&P 500. FBP had been rated a sell since July 25, 2008. Mercury General ( MCY) has been upgraded from sell to hold. Mercury General and its subsidiaries engage in writing private passenger and commercial automobile insurance in the U.S. The company also writes homeowners, mechanical breakdown, commercial and dwelling fire and commercial property insurance. The rating is based on the company's strong underwriting results and improved earnings, which are countered by declining revenue and lower operating income. Although the company is operating with low leverage, deteriorating returns and intense competition in the California automobile insurance market are areas of concern.