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Interstate Hotels & Resorts Q2 Earnings Raise On Higher Revenues ...

(RTTNews) - Tuesday, Interstate Hotels & Resorts (IHR | charts | news | PowerRating), a hotel management company in the United States, reported increase in earnings on higher revenues for the second quarter. The company also raised its full-year earnings guidance and provides third quarter earnings forecast.

For the quarter, the company reported net income of $3.0 million or $0.10 per share, compared to $1.7 million or $0.06 per share in the same quarter last year. In the quarter, adjusted net income was $3.1 million or $0.10 per share, compared to $2.6 million or $0.09 per share in the comparable quarter previous year. Analysts polled by First Call/Thomson Financial expected the company to earn $0.05 per share for the quarter.

The company's revenue for the quarter was $59.8 million, up from $54.2 million in the corresponding quarter prior year.

Franklin Bank Corp.'s Earnings Increased 16%

HOUSTON, July 25 /PRNewswire-FirstCall/ -- Franklin Bank Corp. (Nasdaq: FBTX - News; Franklin or Company), the parent company of Franklin Bank, S.S.B., today announced earnings of $.33 per diluted common share for the second quarter of 2006, in line with analysts' consensus, and a 16% increase from the same quarter 2005. President/CEO Anthony J. Nocella stated that the second quarter performance was primarily due to a 56% increase in commercial loans and a 54% increase in community banking deposits, as compared to the second quarter 2005.

"I am very pleased with this quarter's performance," Nocella said. "We met most of our internal goals despite the very difficult interest rate environment. One of the most significant accomplishments was that we raised $86.3 million in Non-Cumulative Perpetual Preferred Stock -- this included over $10 million in additional funds from the exercise of the over-allotment option.

Household debt set to rise further after rate increase

Like most in the financial markets, the building societies were expecting rates to stay put. However, this afternoon the Bank of England’s Monetary Policy Review Committee (MPC) announced a surprise increase in UK interest rates, setting the new rate up 0.5 percent to 4.75 percent. Today's rise is likely to mean trouble for many households at a time when debt in the UK has reached record levels. In the past few days, both Barclay’s and HSBC have highlighted Britain’s increase in bad debt in there financial earnings reports.

Barclay’s said it had set aside more than £1bn over the first half of the year to cover bad debt – an increase of 50% - with it citing a significant increase in the number of customers unable to meet payments for credit card bills.

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