Finning International Inc
			Symbol			FTT
			Shares Issued			170,661,377
			Close 2009-11-10			C$ 16.15
			Recent Sedar Documents

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

Finning International earns $22-million in Q3 2009

2009-11-10 23:03 ET - News Release

Mr. Mike Waites reports

FINNING REPORTS THIRD QUARTER EARNINGS PER SHARE OF $0.13 AND FREE CASH FLOW OF $226 MILLION

Finning International Inc. has released its third quarter results.

Highlights:

• As a result of very tough market conditions in Canada and the United Kingdom, diluted earnings were 13 cents per share compared with 37 cents in the third quarter of 2008. South American operations continued to produce strong results.
• Free cash flow of $226-million was $233-million higher than in the third quarter of 2008. Year to date, the company generated $364-million in free cash flow and expects close to $400-million in free cash flow for the full year 2009. Balance sheet strength continues with net debt to capital down to 42 per cent from 46 per cent at June 30, 2009.
• Selling, general and administrative expenses decreased by $55-million or 17 per cent year over year. The company is proceeding with further cost reductions and is raising its annual selling, general and administrative expense reduction target from $150-million to over $200-million.
• Order intake in the quarter improved after a weak first half, driven by large equipment orders for the mining industry, including the oil sands.

The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try, click here for a free 30 day trial subscription.