Word: nets
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Dates: during 2000-2009
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...investors rushing to Rosetta? First off, the company's growth has exploded over the past four years. Rosetta Stone generated $209 million in revenue in 2008, compared to $25.4 million in 2004 - that's a 723% increase. Net income grew 632%, to $13.9 million, over the same period. Some 95% of Rosetta Stone's revenues come from the U.S. market, so there's a huge growth opportunity overseas. Plus, institutional customers like schools, corporations and government agencies account for some 20% of the company's sales. Rosetta Stone recently created a customized Arabic program for the U.S. Army, which includes...
...past includes bad mortgage loans, collateralized debt obligations and all manner of other lunkheaded lending decisions. It was also characterized by a 15-year decline in the net interest margin, a core measure of bank profitability that is the difference between what banks pay to borrow and what they charge to lend. The net interest margin is partly a product of interest rates: banks borrow short term and lend long term, so when long-term interest rates drop below short-term rates (as happened three times in the past 15 years), margins are squeezed. But another big factor has been...
...hibernation. Two of its leading institutions, Goldman Sachs and Morgan Stanley, have become commercial banks. With fewer competitors, banks have a lot more pricing power, while Federal Reserve lending programs and Federal Deposit Insurance Corporation (FDIC) guarantees of deposits and bank-bond issues have sharply lowered funding costs. Net interest margins appear to be turning the corner, and as a result, it is not inconceivable that banks will be able to steadily earn their way out of their problems over the next few years...
...legislative achievements have been stupendous - the $789 billion stimulus bill, the budget plan that is still being hammered out (and may, ultimately, include the next landmark safety-net program, universal health insurance). There has also been a cascade of new policies to address the financial crisis - massive interventions in the housing and credit markets, a market-based plan to buy the toxic assets that many banks have on their books, a plan to bail out the auto industry and a strict new regulatory regime proposed for Wall Street. Obama has also completely overhauled foreign policy, from Cuba to Afghanistan...
Both Yahoo! (YHOO) and the New York Times Co. (NYT) reported earnings for the first quarter, and there was noticeable synchronicity between them. Yahoo!'s revenue dropped 13%, to $1.58 billion, and net fell nearly 80%, to $118 million. Based on the portal firm's forecasts, a slip below projections in the second quarter could take net income down to break even...