Nov 05, 2009 (MarketNewsVideo.com via COMTEX News Network) -- DG FastChannel (DGIT) announced record results for the third quarter of 2009, earning 22 cents per share on revenues of 48.3 million dollars. In Q3 of 2008, revenue had been 41.4 million, and the company had earned 12 cents per share. The company also announced Thursday that it signed a media services agreement with Google (GOOG). Under the deal, DG FastChannel will provide media ingestion, quality control and production services that will enhance Google's growing TV Advertising Platform. Investors sent shares of DG FastChannel nearly 16% higher in early trading on Thursday.
Kadant (KAI), a supplier to the pulp and paper industry, exceeded its guidance for the third quarter for revenue, operating income, and earnings. Revenue was down 36% year over year, but showed a 7% improvement from the prior quarter. Earnings on an adjusted basis came in at a nickel per share. Looking ahead, Kadant said it remains cautious about the timing and strength of a recovery in its markets, and projected earnings from continuing operations of between 2 and 4 cents for the fourth quarter. Kadant also announced its Board authorized the repurchase of up to 20 million dollars worth of stock. Kadant shares advanced about 18%.
Russian independent media company CTC Media (CTCM) turned a profit of 16 cents per share for the third quarter, a 23% increase from earnings of 13 cents in the same quarter last year. Revenues were down 4% year over year in rubles, which compares favorably to a 21% decline in the Russian television advertising market overall. Shares of CTC Media gained nearly 13%.
The preceeding is a transcript of the MarketNewsVideo.com video published at: http://www.marketnewsvideo.com/?id=200911arningsGainers110509&mv=1.
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