Thursday, November 02, 2006

KSU Rocks earnings, stock falls

Some really bad reporting on this stock. Most of the headlines report that profits did slide. When you exclude last year's one-time gain, profits roared.
* Sales up 8%
* Earnings down from $1.14 last year to $0.32. BUT take out a one-time tax gain, and earnings surged from -$0.29 to $0.32. Or from a loss of $22M to a gain of $26M.
* Beat expectations by 50%: $0.32 vs expectations of $0.23

These are incredible results, and I will be buying more on the weakness.

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