Lennox International, Inc. (NYSE:LII) reported fourth quarter and full year 2010 results. For the fourth quarter, revenue was $762 million, up 4% from the prior-year quarter. Foreign exchange was neutral to revenue. Total segment profit margin was 6.4%, down from 7.1% in the prior-year quarter primarily due to higher commodity costs. Diluted earnings per share from continuing operations on an adjusted basis was $0.55 compared to $0.58 in the prior-year quarter. Diluted earnings per share from continuing operations on a GAAP basis was $0.51 compared to $0.17 in the fourth quarter a year ago. For the full year, revenue was $3.1 billion, up 9% from the prior year, including a positive 2 point impact from foreign exchange. Total segment profit margin was up 120 basis points to 7.0%. Diluted earnings per share from continuing operations on an adjusted basis, was $2.40, up 36% from $1.77 in the prior year. Diluted earnings per share from continuing operations on a GAAP basis was $2.10, up 93% from $1.09 in the prior year.
Lennox International Inc., through its subsidiaries, engages in the design, manufacture, and marketing of a range of products for heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally.
National Health Partners, Inc. (NHPR.OB) sell their CARExpress membership programs directly and indirectly through a variety of marketing and distribution partners. The company’s programs typically range in price from $9.95 to $39.95 per month, depending upon the program selected. They also offer features to encourage potential members to try out our CARExpress membership programs, including refund guarantees and “trial” periods of free or discounted membership. Healthcare products and services are bundled, priced and marketed utilizing relationship marketing strategies to target the profiled needs of our customers. The discounted prices paid by their members typically range from 20% to 50% off providers’ usual and customary fees. These discounts are designed to save the individual substantially more than the cost of the program itself.
NHPR has achieved positive earnings for the quarter ended September 30, 2010. Revenues for the 3rd quarter grew 12.3% over the same period last year. The Company attributes the net earnings to the significant cost-cutting initiatives taken over the past couple of quarters and which is continuing in the 4th quarter.
“I am thrilled to announce that we have finally achieved profitability,” stated David M. Daniels, President and Chief Executive Officer of National Health Partners. “Due to the fact that our limited medical provider unexpectedly decided to exit the marketplace, we were unable to add any new CARExpress Plus limited medical sales during the 3rd quarter. Yet, despite this temporary setback, we were still able to substantially increase our revenue and reach profitability which is a testament to the underlying strength we have with our core CARExpress health discount programs. Although we achieved positive results in revenues and earnings, we anticipate much better results going forward into 2011.”
National Health Partners, Inc. is a national healthcare savings organization that provides discount healthcare membership programs to uninsured and underinsured people through a national healthcare savings network called “CARExpress.”
For more information about this company please visit http://www.nationalhealthpartners.com
White Mountains Insurance Group, Ltd. (NYSE:WTM) reported an adjusted book value per share of $441 at December 31, 2010, an increase of 3% for the fourth quarter of 2010 and 6% for the year, including dividends. Ray Barrette, Chairman and CEO, commented, “We had an OK year. Investment returns were decent given the conservative positioning of our portfolio. OneBeacon’s overall underwriting results were dragged down by the businesses it recently exited, but the specialty results were good. White Mountains Re had a strong finish to the year and a solid year overall, quite a comeback given the Chile earthquake losses early in the year. Esurance grew nicely at acceptable loss ratios, as both policyholder conversion and retention improved. Our share repurchase program is working well and added $7 to adjusted book value per share during the year. Our balance sheet and capital position are strong. I expect continued soft insurance markets but we are well positioned to take advantage of opportunities as they arise.” Adjusted comprehensive income was $81 million in the fourth quarter of 2010 and $141 million in the year, compared to $91 million in the fourth quarter of 2009 and $560 million last year. Net income was $73 million in the fourth quarter of 2010 and $87 million in the year, compared to $100 million in the fourth quarter of 2009 and $470 million last year.
White Mountains Insurance Group, Ltd., through its subsidiaries, operates property and casualty insurance, and reinsurance businesses.
Rare Earth Minerals are used in cell phones, flat-screen televisions, hybrid cars and many other products.
American Video Teleconferencing Corp. (AVOT.PK) previously reported that it is presently in final discussions to enter into a formal agreement to acquire an exclusive option on a molybdenum property in the Otter lake area in the province of Quebec, Canada.
The property has been dormant since the 1960’s when Hupon Mining and Exploration carried out surface work, stripping, trenching and a minor drill program of 445 feet contained in 11 drill holes. Some of the sample results from the trenching in 1962 showed 0.94% to 25% molybdenum averaging 5-10%. These values were obtained from assessment files in the Department of Mines in Quebec City.
This property is only one of several advanced stage properties American Video Teleconferencing Corp. has under consideration in the province of Quebec.
AVOT believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings.
Note: China previously reported it will drastically limit exports of a group of minerals used in a host of consumer technology products.
American Video Teleconferencing Corp. will aggressively continue to search world-wide for opportunities in Precious, Base and Rare Earths metal projects.
Fidelity National Information Services, Inc. (NYSE:FIS) announced a change in position for William P. Foley II from executive chairman to chairman of the board, which is a non-executive position. Foley, who has served as executive chairman of FIS since February 2006, requested the transition to non-executive chairman in order to devote more time to additional business opportunities and commitments. The change is effective immediately. “The FIS leadership team has done an excellent job driving the Metavante integration project, while delivering on our commitments to our clients and our shareholders,” stated Foley. “I am confident that the team will continue to successfully advance the FIS strategy, and I look forward to serving the company in a more traditional chairman’s role.”
Fidelity National Information Services, Inc. provides banking and payments technology solutions, processing services, and information-based services.
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