DTE Energy Company Earnings Preview Cheat Sheet

DTE Energy Company Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 51 cents per share, a rise of 30.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 48 cents. Between one and three months ago, the average estimate moved up, and has risen from 50 cents during the last month. For the year, analysts are projecting profit of $3.58 per share, a decline of 0.6% from last year.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the first quarter, it reported net income of $1.11 per share against a mean estimate of $1.21. Two quarters ago, it beat expectations by 3 cents with profit of 88 cents.

Wall St. Revenue Expectations: On average, analysts predict $1.93 billion in revenue this quarter, a rise of 7.8% from the year ago quarter. Analysts are forecasting total revenue of $8.71 billion for the year, a rise of 1.8% from last year’s revenue of $8.56 billion.

Analyst Ratings: Analysts seem relatively indifferent about DTE Energy Company with eight of 11 analysts surveyed maintaining a hold rating.

Key Stats:

A year-over-year revenue decrease in the first quarter snaps a streak of three consecutive quarters of revenue increases. Revenue fell 0.9% in the first quarter and rose 3%in the fourth quarter of the last fiscal year, 9.1% in the third quarter of the last fiscal year and 6.2% in the second quarter of the last fiscal year.

The decrease in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit increases. Net income fell 23.1% in the first quarter from the year earlier, while the figure rose 34.5% in the fourth quarter of the last fiscal year, 3.2% in the third quarter of the last fiscal year and 3.6% in the second quarter of the last fiscal year.

Competitors to Watch: CMS Energy Corporation (NYSE:CMS), Wisconsin Energy Corp. (NYSE:WEC), Integrys Energy Group, Inc. (NYSE:TEG), The Empire District Electric Co. (NYSE:EDE), NiSource Inc. (NYSE:NI), Dominion Resources, Inc. (NYSE:D), Black Hills Corporation (NYSE:BKH), Avista Corporation (NYSE:AVA), Ameren Corporation (NYSE:AEE), and CH Energy Group, Inc. (NYSE:CHG).

Stock Price Performance: During June 23, 2011 to July 22, 2011, the stock price had risen $2.54 (5.2%) from $48.69 to $51.23. The stock price saw one of its best stretches over the last year between June 23, 2011 and July 1, 2011 when shares rose for seven-straight days, rising 4.3% (+$2.11) over that span. It saw one of its worst periods between May 31, 2011 and June 10, 2011 when shares fell for nine-straight days, falling 4.4% (-$2.26) over that span. Shares are up $6.98 (+15.8%) year to date.

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NIM improves to 3.40%; but asset quality is still a concern

NIM improves to 3.40%; but asset quality is still a concern

Allahabad Bank has reported decent results for the quarter ended June 11 with 38% increase in NII at Rs. 1175.55 crore and 20% increase in Net Profit at Rs. 418.13 crore. Despite increase in the cost of funds, the bank has managed to improve NIM to 3.40% in quarter under review against 3.38% a quarter ago and 3.10% a year ago. However, drastic fall in trading profits by 79% and sharp increase in provisions on investments and bad debts has curtailed the growth in PBT to meager 3% at Rs. 569.95 crore. Thank to whooping 10.6% dip in the effective tax rate, Net Profit was up by modest 20% on y-o-y basis. Although the margins improved declining asset quality is a concern for the bank. Allahabad Bank has increased base rate and BPLR by 25 bps each to 10.25% and 14.50% respectively w.e.f 15 July 11. Asset Quality: The Gross NPA of the bank has inched up 41% y-o-y and slipped 3% q-o-q to Rs. 1604.37 crore for the quarter ended June 11. During the quarter, the bank has cash recovery of Rs.98.83 crore, up gradation of Rs. 101.90 crore and slippages ofRs. 118.24 crore. The % GNPA stood at 1.62% against 1.5% a year ago and 1.74% a quarter ago. Slippage ratio stood at 0.65% at end of June 11 against 0.66% in the corresponding previous year and 2.21% at end of March 11. Net NPA has surged up by 90% y-o-y and 20% q-o-q to Rs.588.59 crore at end of June 11. The % NNPA stood at 0.6% against 0.41% a year ago and 0.79% a quarter ago. Provision coverage ratio increased to 79.90% as on June 11 compared to 75.67% as at end of March 11. The outstanding restructured assets at end of June 11 stood atRs. 3059 crore, of which Rs. 312 crore turned to NPA's. Business Highlights: Total business of the bank has improved 26% y-o-y and 3% q-o-q to Rs. 232558 crore for the quarter ended June 11. Gross Credit has inched up by 30% y-o-y and 4% q-o-q to Rs.98740 crore at end of June 2011. Market share of the bank in credit has also inched up to 2.39% against 2.23% a quarter ago and 2.14% a year ago. Total disbursements under retail credit increased 25% to Rs. 677 crore. Priority sector Credit grew by 27% to Rs. 31404 crore while that of agri credit grew 17% to Rs. 13565 crore. Credit to MSE grew by 60% to Rs.13666 crore and that of MSME by 55% to Rs. 10498 crore. Deposits grew by 1% q-o-q and 24% y-o-y to Rs. 133818 crore at end of June 11. Market share of the bank in deposits stood increased to 2.41% against 2.31% a quarter ago. CASA deposits grew 16% y-o-y and slipped 3% q-o-q to Rs. 42855 crore at end of June 11. Resultantly, CASA ratio slipped to 32.17% against 34.42% a year ago and 33.70% a quarter ago. Credit deposit ratio rose to 74.12% at end of June 11 against 70.30% in the corresponding previous year. Cost of deposits inched up to 7.01% at end of June 11 against 5.83% at end of March 11 and 5.60% at end of June 10. Yield on advances also inched up to 11.58% against 10.50% at end of March 11 and 10.32% at end of June 10. NIM improved to 3.40% in quarter under review against 3.38% a quarter ago and 3.10% a year ago. Capital Adequacy ratio stood at 12.75% with Tier I capital of 8.55% at end of June 11 against 12.96% with Tier I capital of 8.57% at end of March 11. Risk Weighted Assets at end of quarter stood at Rs. 97285 crore. RWA to working funds stood at 62.74% against 60.92% at end of March 11 and 64.05% at end of June 10. Investment book has improved by 25% y-o-y and 5% q-o-q toRs. 45696 crore at end of June 11. The Breakup of the book is HTM Rs. 31532 crore, AFS Rs. 13835 crore and HFT Rs. 328 crore. The total duration of the book is 4.94 years while modified duration 4.94 years. SLR % stood at 29.97% while HTM to SLR is 81.84%. Yield on investment has increased to 7.57% against 7.04% a quarter ago and 6.84% a year ago. Business per employee surged to Rs. 11.09 crore at end of June 11 against Rs. 8.83 crore in the corresponding previous year. Business per branch has increased to Rs. 11.09 crore againstRs. 8.83 crore in the corresponding previous year. The total branches at end of June 11 stood at 2416 against 2415 at end of March 11. Quarterly Performance: For the quarter ended June 11, the bank has reported 38% increase in the NII at Rs. 1175.55 crore owing to 48% increase in the Interest earned at Rs. 3549.84 crore and 53% increase in the Interest expended at Rs. 2374.29 crore. Interest on advances increased by 49% to Rs. 2699 crore while that of interest paid on deposit grew by 54% to Rs. 2234 crore. Cost of deposits inched up by 141 bps and that of yield on advances rose up by 126 bps in the quarter under review. On the other hand, spread has increased by 6 bps and pushed NIM up to 3.40% against 3.10% a year ago and 3.38% a quarter ago. Fee based income has inched up by 21.5% to Rs. 207 crore. However trading profit income slipped by 72% to Rs. 26 crore and totaled other income down by 4% to Rs. 285.93 crore. The other income to net total income slipped to 170 bps to 11.9%. The Employee cost has inch up 34% to Rs. 382.19 crore in quarter under review. The bank has provided provision for pension and gratuity for the quarter at Rs. 37.40 crore being 1/4th of Rs. 149.54 crore. The other operating expenses inched up by 19% to Rs. 189.67 crore, totaling Operating expenses up by 29% to Rs. 571.86 crore. The cost to income ratio has inched up by 50 bps to 39.1% and led Operating Profit up by 26% to Rs. 889.62 crore. The provisions and contingencies have more than doubled at Rs.319.67 crore (up by 112%) owing to huge increase in the provisions for bad and doubtful debts and depreciation on Investments. The bank has provided Rs. 112.88 crore on depreciation on investment (Rs 1.95 crore in the corresponding previous year), Bad and Doubtful debts Rs. 165.57 crore (Rs 70 crore in the corresponding previous quarter). The provisions on standard advances have also increased to Rs. 45.11 crore (against Rs. 12.65 crore). Resultantly, growth in PBT was curtailed to a lower single digit growth of 3% toRs. 569.95 crore. However, whooping 1060 bps decline in effective tax rate at 26.6% has led Net Profit up by 20% to Rs. 418.13 crore. Yearly Performance: For the year ended March 11, Allahabad bank has reported 18% increase in Net Profit at Rs. 1423.11 crore over 52% increase in the NII at Rs. 4022.47 crore. The other income declined by 10% to Rs.1370.41 crore owing to 72% dip in the trading profits at Rs. 160 crore. The Operating expenses grew by 45% to Rs. 2338.30 crore and paved cost to income ratio by 450 bps to 43.4%. Thus Operating profit grew by 20% to Rs. 3054.58 crore. Finally after accounting 22% increase in provisions and contingencies at Rs.1631.47 crore, Net profit was up by 18%. Other Information: The Scrip is hovering at Rs. 218.05 on BSE. Considering EPS of Rs. 35.1, PE stands at 6.2 times. At Book value per share of Rs. 169.27 and Adjusted Book Value per share of Rs. 140.9 at end of June 2011, the P/BV and P/ABV works out to be 1.3 and 1.5 respectively. Allahabad Bank: Financial Results Particulars 1106 (3) 1006 (3) Var % 1103 (12) 1003 (12) Var % Interest Earned 3549.84 2403.12 48 11014.69 8369.20 32 Interest Expended 2374.29 1552.78 53 6992.22 5718.72 22 Net Interest Income 1175.55 850.34 38 4022.47 2650.48 52 Other Income 285.93 298.56 -4 1370.41 1515.90 -10 Net Total Income 1461.48 1148.90 27 5392.88 4166.38 29 Operating Expenses 571.86 444.32 29 2338.30 1617.83 45 Operating Profits 889.62 704.58 26 3054.58 2548.55 20 Provisions & Contingencies 319.67 151.05 112 1123.87 776.93 45 Profit Before Tax 569.95 553.53 3 1930.71 1771.62 9 Provision for tax 151.82 206.39 -26 507.60 565.29 -10 Net Profit 418.13 347.14 20 1423.11 1206.33 18 EPS*(Rs) 35.1 29.2 29.9 25.3 * Annualized on current equity of Rs. 476.22 crore. Face Value: Rs.10 Figures in Rs. crore. Source: Capitaline Corporate Database

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RTET 2011 ADMIT CARD By Name Mobile no Wise www.rtet2011.com BOARD OF SECONDARY EDUCATION RAJASTHAN, AJMER Rajasthan Teacher Eligibility Test 2011

RTET 2011 ADMIT CARD By Name Mobile no Wise BOARD OF SECONDARY EDUCATION RAJASTHAN, AJMER Rajasthan Teacher Eligibility Test 2011 www.rtet2011.com

BOARD OF SECONDARY EDUCATION RAJASTHAN, AJMER

Rajasthan Teacher Eligibility Test [RTET] - 2011

RTET 2011 ADMISSION CARD

RTET 2011 ADMIT CARD

Income Certificate Copy of Letter of Principal Secretary of School Education Govt. of Rajasthan
17 June, 2011

Notification of N.C.T.E. 23^rd Aug, 2010 N.C.T.E. Guideline of TET RTET 2011 सामान्य दिशा-निर्देश RTET 2011 General Guidance and Instructions Syllabus For Level - I Syllabus For Level - II

RTET 2011 Admission Card By Application/Challan Number

By Mobile Number By Name, Father Name and Date Of Birth

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Board of Control for Cricket in India BhutanECB BCCI celebrate England-India 100th Test Chamber of Commerce and Industry BCCI 2nd Bhutan

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The Board of Control for Cricket in India (BCCI) has given National Anti-Doping Agency’s (NADA) proposal to bring Indian cricketers — both domestic and international — under the testing umbrella the cold shoulder, with a top board official even saying that they don’t recognise the body.

NADA director general Rahul Bhatnagar told The Indian Express that he had sent two letters over the last four months to BCCI chief Shashank Manohar, but was yet to receive a reply.

“We have written two letters to the BCCI, addressed to Shashank Manohar, where we have stated that we want to test players participating in domestic competitions of the BCCI, including the Ranji Trophy. The last letter was sent three weeks ago, and we had approached them initially in the first quarter of this year,” said Bhatnagar.

While Manohar is currently away in England for the Lord’s Test between India and England and couldn’t be contacted, BCCI chief administrator officer, Ratnakar Shetty, refused to comment on the issue.

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Cricket news and inside stories Four decades on Dhoni men set out to emulate Wadekar feat 2011

Indian captain MS Dhoni and coach Duncan Fletcher during a training session at Lord's in London. Indian captain MS Dhoni and coach Duncan Fletcher during a training session at Lord's in London.

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Jul 21, 2011, 03.49pm IST India was a nobody in world cricket when Ajit Wadekar led his team to its maiden series victory over the then unofficial world number one side, England in England in 1971. Forty years down the line, the tables have
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NEW DELHI: Times have changed for Indian as well as English cricket, and how!

India was a nobody in world cricket when Ajit Wadekar led his team to its maiden series victory over the then unofficial world number one side, England in England in 1971.

Forty years down the line, the tables have completely turned, with Mahendra Singh Dhoni's men heading into the current series as the official numero uno side in world cricket.

Back then, Wadekar's side had a point to prove to the detractors who termed its victory in the preceding series in the West Indies as a flash in the pan.

Now, Dhoni and his men are seeking to reaffirm the tag of being the top Test side in the world.

Call it a coincidence but the two leaders -- Wadekar and Dhoni -- seem to have some similarity in their approach.

While Wadekar appeared to be calm and collected and came across as a person who meant business, Dhoni happens to be more of a gambler with a cool head.

Leading a team to an untamed territory for the first time following the unceremonious exit of Mansur Ali Khan Pataudi from captaincy, Wadekar led from the front to help India win their first Test series against a fancied English team, led by Ray Illingworth.

On the other hand, Dhoni's transition to the helm of Test cricket came gradually, with him being first entrusted with the responsibility of leading the side in the shorter format of the game.

Dhoni's record as captain in Tests is impressive but England at home will present him with the ultimate challenge.

Though the Indian captain's list of admirers is as long as Sachin Tendulkar's, Dhoni and his boys have often been labelled as a unit that has not done enough away from home.

"He has got some good leadership skills but one must also remember that a captain is as good as his team. He has done well so far but he has primarily played at home," says former captain Sourav Ganguly.

"He has a good side and it will test him as captain. It is going to be a year which decides how good a captain Mahendra Singh Dhoni really is," insists the left hander.

At the moment, the thing with English cricket is that the measure of their success is only relative to their performance in any recently-concluded Ashes series. It is almost as if the very point of their existence is to put one across Australia, and any other contest is but a preparation.

But in 1971, there was a certain 'ring of truth' about the whole thing.

Led by the shrewd Illingworth, England were truly prospering at that time. They had gotten the better of the West Indies twice in the previous season. Then they had beaten New Zealand and even conquered the Ashes in Australia the previous winter.

With players of the calibre of John Edrich, Geoffery Boycott, Brian Lackhurst, Basil D'Oliviera, Alan Knott, John Snow, Derek Underwood and Peter Lever, they were arguably at their strongest ever, writes Chetan Narula in his book 'Skipper', giving an account of India's greatest captains.

The situation, this time around, is no different as England are still fresh from their Ashes exploits, and boast of a very formidable bowling attack in Chris Tremlett, James Anderson and Greame Swann, besides a strong batting line-up.

"The conditions in England at that time were quite dry, not much rain luckily for we were visiting in the second half of the summer.

"We played seven county games in the run-up to the first Test and won most of them with good margins. It was an immense confidence booster," Wadekar recalls.

The current Indian team, on the other hand, got a lone game against Somerset in their build-up to the high-profile series.

Much like Wadekar, Dhoni also does not believe in playing to the gallery.

"I always impressed on my team the need for playing according to time and not to the balcony. There is little need to please the crowds by playing attacking shots all the time," Wadekar was quoted as saying to the author.

Noted cricket writer Peter Roebuck says Dhoni's leadership seems to be in keeping with the time.

"He gives the feeling of equal treatment to all his fellow cricketers, as if the dressing room is a democracy, yet seems to be in command all the time.

"I feel Dhoni's become a man now, from boyish cricketer that he began as. It seems that he is the true successor to Sourav Ganguly and others have just handled the balanced reigns in between the two of them. It is time for India to take next step in world cricket."

While Dhoni has become an acclaimed leader in a short span of time, success on English soil will certainly put him in a different league.

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