Monday, Compass Diversified Holdings (CODI), an investment firm in middle market businesses, said its profit for the third-quarter decreased from the prior year quarter on a sharp decline in revenues.
For the third quarter, Compass Diversified company reported a profit attributable to the company of $2.10 million or $0.06 per share, a decline from $5.25 million or $0.17 per share in the prior year period.
Income from continuing operations for the quarter was $2.8 million, down from $6.2 million in the year-ago quarter.
On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share for the quarter. Analysts' estimate typically exclude one time gains and charges.
Net sales for the quarter declined to $324.23 million from $413.60 million reported in the comparable period. Analysts estimated revenues of $307.30 million for the quarter.
Operating income for the quarter dropped to $7.9 million from $13.4 million in the corresponding quarter last year.
CODI reported Cash Flow of $11.7 million for the quarter ended September 30, 2009, as compared to $15.7 million in the prior year period. The decline in Cash Flow for the quarter was largely attributed to the negative impact of the economy on the company's Staffmark subsidiary.
Joe Massoud, CEO of Compass Diversified Holdings said, "Based on our improved prospects and our generation of Cash Flow thus far this year, we believe that we are well positioned to surpass our previously announced guidance for the full year 2009 and to achieve year over year growth in cash flow for 2010."
CODI's Board of Directors declared a distribution of $0.34 per share, and was paid on October 29, 2009 to all holders of record as of October 23, 2009.
Net loss for the nine months attributable to holdings was $24.59 million or $0.73 per share, compared to a profit of $77.06 million or $2.44 per share in the previous year period. For the nine months ended September 30, 2009, the company recorded net sales that declined to $886.68 million from $1.163billion in the previous year period. CODI is being traded at $11.26 up $0.49 or 4.55% on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.