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Lackluster quarterly results seen for some local firms

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AmerUs Group Co., FBL Financial Group, Maytag Corp. and Principal Financial Group Inc. are all expected to report a decline in year-to-year revenues when they announce quarterly results over the next two weeks. Analysts predict that FBL and Maytag also will post double-digit declines in earnings per share.

Here’s a summary of reporting dates and projections for several publicly owned Central Iowa companies.

AmerUs Group Co. earned 96 cents per share on revenues of $441 million in the quarter ending Dec. 31, 2003; for 2004’s fourth quarter, the life insurance and annuity company is expected to earn $1.05 per share on revenues of $417 million.

AmerUs will report its figures after U.S. markets close Feb. 2. A conference call is scheduled for 9 a.m. Feb 3. Call (888) 399-7388 and use the passcode “AmerUs” to listen.

EMC Insurance Group Inc. appears to be track for 13 percent growth in revenues and a 9 percent rise in earnings per share, according to two estimates. The property and casualty insurer could have earned premiums of $95 million for the fourth quarter compared with $84 million in the year-ago period, and per-share operating income of 50 cents compared with 46 cents.

The company plans to announce its financial results the week of Feb. 21, but no specific date has been set.

FBL Financial Group Inc. is expected to post a 2 percent drop in revenues for the fourth quarter, taking in about $163 million compared with $166 million in the fourth quarter of 2003. Earnings per share could slump by 22 percent, moving to 48 cents per share from 61 cents a year ago.

The life insurance, annuity and mutual fund company will make its quarterly report public on Feb. 8 after the markets close. A conference call will follow at 9 a.m. Feb. 9; dial (800) 810-0924 for telephone access or listen to a Webcast at www.fblfinancial.com.

Maytag Corp. probably will continue its recent weak performance with a drop in revenues of about 7 percent and a 69 percent tumble in earnings per share. Analysts predict that the Newton-based appliance maker will report $1.19 billion in revenues for the fourth quarter compared with $1.27 billion a year ago. Earnings per share are pegged at 17 cents; a year earlier, the company earned 55 cents per share.

The company will announce its results Friday at 6 a.m., then will host a conference call at 8:30 a.m. Call (800) 428-0426 by 8:20 a.m. to listen.

Meredith Corp. is expected to roll up another profitable quarter; analysts foresee a 5 percent increase in revenues for the media company’s second fiscal quarter, which ended Dec. 31, hitting $295 million compared with $280 million in the year-ago period. Earnings of 55 cents per share are predicted; the company earned 38 cents per share a year ago.

Meredith plans to report its results Tuesday morning, with a conference call slated for 10 a.m. that can be accessed at www.meredith.com.

Principal Financial Group Inc., still seeing the effects of the sale of its mortgage banking business in 2004, is expected to report revenues of $2.18 billion for the fourth quarter, a 12 percent drop from the year-ago period. However, earnings per share are projected to be 61 cents, a strong improvement from the year-ago figure of 46 cents.

In October, Principal agreed to purchase a 70 percent interest in Columbus Circle Investors. That transaction is expected to increase the company’s assets by approximately $3.5 billion.

Principal will release its quarterly earnings results after the markets close Feb. 7. A conference call will be held at 9 a.m. Feb. 8; you can listen by calling (800) 374-1609.

Sauer-Danfoss Inc., a German-controlled company with corporate headquarters in Ames, could post a 20 percent increase in revenues, according to one analyst. Its fourth-quarter revenues are expected to be $315 million compared with the year-ago figure of $263 million. In December, the maker of hydraulic systems and components announced a cash dividend of 10 cents per share for the fourth quarter, the 27th consecutive quarterly dividend paid by the company since it went public in 1998.

The company will report its earnings Feb. 9, but a conference call isn’t scheduled until March 3 at 9 a.m.

West Bancorporation Inc., the parent company of West Bank in West Des Moines, last week reported net income of $5 million, or 30 cents per share, for the fourth quarter of 2004, up from $4.4 million, or 26 cents per share, in the fourth quarter of 2003. Net income for all of 2004 was $18.6 million compared with $17.3 million for 2003, an increase of 7.7 percent. Earnings per share were $1.11 compared with $1.02 for 2003.