Westamerica Misses Estimates « Zacks Investment Research »

Westamerica Bancorp.’s (WABC) reported fourth quarter earnings per share of 79 cents and missed the Zacks Consensus Estimate of 82 cents. Earnings were higher from 71 cents reported in the year-ago quarter but a couple of pennies below 81 cents reported in the prior quarter. During the reported quarter 2009, Westamerica redeemed $42 million in preferred stock requiring accelerated discount accretion of $0.52 million, which reduced earnings per share by 2 cents.
 
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