Earnings roundup: Tim Hortons, Parker Drilling

Earnings roundup: Tim Hortons profit drops on some higher costs, Parker Drilling posts 4Q loss

Associated Press

Among the earnings stories for Thursday, Feb. 21, from The Associated Press:

— Tim Hortons Inc. said its net income for the fourth quarter fell 2.5 percent due to higher interest and restructuring expenses. The Canada-based restaurant chain also said that tough economy continues to weigh on consumers and it issued a disappointing forecast for the full year.

— Drilling contractor and oilfield services company Parker Drilling posted a fourth-quarter loss, as revenue decreased and it took a sizable charge to resolve a federal corruption investigation.

— Shares of Valassis Communications Inc. fell after the advertising services company announced lower-than-expected fourth-quarter earnings.

— Shares of Dorman Products Inc., which distributes parts to automotive retailers, tumbled after the company reported a drop in fourth-quarter net income.

— Shares of Pegasystems Inc. soared after the business software company announced fourth-quarter results that were significantly better than Wall Street expected and issued a strong outlook for the current year.

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