FONT-SIZE Plus   Neg

SP Bancorp Revises Down Q4 Profit

SP Bancorp (SPBC), the share holding company of SharePlus Federal Bank, Friday revised its fourth-quarter net income to $!68,000 from the net income of $300,000 previously announced on February 7.

According to the company, the downward revision was due to an updated appraisal received by it after February 7, which reduced the carrying value of one of its real estate properties.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Large U.S. companies are holding trillions of dollars overseas in an effort to avoid U.S. taxes, with big-name firms like Apple (AAPL), Pfizer (PFE) and PepsiCo (PEP) named as notable examples. This is the claim made by a pair of non-profit groups, who released a study based on the firms' financial statements. Software maker Adobe Systems Inc. (ADBE) Tuesday detailed an outlook for the full year 2016 indicated to miss Wall Street estimates, sending its shares down 8 percent in after-hours trading. Adobe expects full-year 2016 revenues of about $5.7 billion and an adjusted earnings of $2.70 per share. Analysts... Enterprise software maker Adobe (ADBE) provided updated guidance on Tuesday, predicting strong growth over the next three years by giving 2016 projections that are below what market analysts are currently expecting.
comments powered by Disqus
Follow RTT