Piedmont Natural Gas Company, Inc. (NYSE: PNY) is one of the few corporations to report earnings this week -- and, judging by its results, that may be a good thing. PNY reported a widened fourth-quarter loss of $13.2 million, or 18 cents per share, while revenue improved by 12% to $311.8 million. Gross margin for the period contracted from 29.1% to 28.1%.
Ahead of the report, analysts were expecting a more modest quarterly loss of about 13 cents per share, according to Thomson Financial. Piedmont's forecast for the next fiscal year also fell short of Wall Street's expectations; the company backed its fiscal 2009 guidance for earnings of $1.55 to $1.65 per share, compared to analysts' consensus estimate for earnings of $1.66 per share.
Closing Bell: Dubai sends jitters throughout the market (S, BBY)
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
