Despite admitting it would take a $60 million pretax charge to pay for improper trade-related costs,
With net income for the fiscal second quarter of $172.8 million, or 68 cents per share, the company actually earned three cents less than the average prediction by 11 Reuters analysts of 71 cents a share. But still, one year after profiting just $109.6 million, or 43 cents per share for the quarter, the results were welcome.
A $45.6 million after tax charge was partially softened by an $18.3 million insurance recovery stemming from the Sept. 11 attacks upon the World Trade Center, the company said.
Chicago-based fund tracker
