Leucadia National Corporation Announces Nine Month 2006 Results
biz.yahoo.com
Thursday November 9, 12:50 pm ET
NEW YORK--(BUSINESS WIRE)--Leucadia National Corporation (NYSE: LUK) today announced its operating results for the nine month period ended September 30, 2006. Net income was $178,190,000 or $.80 per diluted common share for the nine month period ended September 30, 2006 compared to net income of $1,377,838,000 or $6.01 per diluted common share for the nine month period ended September 30, 2005. As previously disclosed, the 2005 results included an adjustment that reduced the deferred tax asset valuation allowance and credited income tax expense by $1,135,100,000. Net income per share also included income of $.24 for the 2006 period and $.59 for the 2005 period related to discontinued operations.
For more information on the Company's results of operations for 2006, please see the Company's Form 10-Q for the nine months ended September 30, 2006, which was filed with the Securities and Exchange Commission today.
SUMMARY FOR LEUCADIA NATIONAL CORPORATION AND SUBSIDIARIES
(In thousands, except earnings per share amounts)
(Unaudited)
For the Three Month For the Nine Month
Period Ended Period Ended
September 30, September 30,
------------------- ---------------------
2006 2005 2006 2005
--------- --------- --------- -----------
Revenues and other income $170,243 $248,275 $686,277 $478,622
========= ========= ========= ===========
Net securities gains $16,259 $85,706 $99,391 $132,732
========= ========= ========= ===========
Income (loss) from continuing
operations before income
taxes and equity in income
(losses) of associated
companies $(6,042) $86,860 $147,239 $98,128
Income taxes (8,709) (24,885) 48,871 (1,131,809)
--------- --------- --------- -----------
Income from continuing
operations before equity in
income (losses) of
associated companies 2,667 111,745 98,368 1,229,937
Equity in income (losses) of
associated companies, net of
taxes 1,073 (66,531) 24,336 11,962
--------- --------- --------- -----------
Income from continuing
operations 3,740 45,214 122,704 1,241,899
Income (loss) from
discontinued operations,
including gain on disposal,
net of taxes 56,737 58,900 55,486 135,939
--------- --------- --------- -----------
Net income $60,477 $104,114 $178,190 $1,377,838
========= ========= ========= ===========
Basic earnings (loss) per
common share:
Income from continuing
operations $.02 $.21 $.57 $5.77
Income (loss) from
discontinued operations,
including gain on disposal .26 .27 .25 .63
--------- --------- --------- -----------
Net income $.28 $.48 $.82 $6.40
========= ========= ========= ===========
Number of shares in
calculation 216,291 215,595 216,202 215,387
========= ========= ========= ===========
Diluted earnings (loss) per
common share:
Income from continuing
operations $.02 $.21 $.56 $5.42
Income (loss) from
discontinued operations,
including gain on disposal .25 .26 .24 .59
--------- --------- --------- -----------
Net income $.27 $.47 $.80 $6.01
========= ========= ========= ===========
Number of shares in
calculation 231,906 231,328 231,875 231,132
========= ========= ========= =========== |
