Ameren, Build-A-Bear report lower first-quarter earnings
Two St. Louis-based companies are reporting lower earnings for the first quarter of this year compared to the same period last year.
Ameren today said the company earned 25 cents a share over the first three months of 2011 versus 40 cents a share in the same time frame last year. Company officials say the decrease is due to higher-than-expected costs for storm clean-up, warmer temperatures, and an income tax increase in Illinois.
CEO Tom Voss said in a statement says the earnings are still on track with expectations and affirmed the company's prediction that it would earn between $2.20 and $2.60 a share this year.
Also today, Build-A-Bear Workshop reported that it lost 12 cents a share in the first quarter of 2011, compared to a nine-cent gain last year. The company says a late Easter contributed to the lower earnings. Maxine Clark, the company's CEO, said she remains confident the company will reach its annual goals.