Stock Segment: Bank of America revenue grows 25 percent

Earnings were $5.5 billion, up from $4.7 billion a year ago, excluding merger- and restructuring-related costs. Per-share earnings were $1.19, up 4 percent from $1.14 during the same quarter last year.

Revenue for the quarter rose 25 percent to $18.2 billion.

For the first six months of the year, Bank of America earned $10.46 billion, or $2.25 per share, compared to $9.05 billion in the same period last year.

“We offset the difficult interest rate environment with great execution in every line of business, leading to a significant increase in fee income and continued momentum in the growth of shareholder value,” said chairman and CEO Kenneth Lewis, in a news release.

Bank of America shares (NYSE: BAC) closed Aug. 2 at $51.96, compared to a 52-week range of $41.13 to $51.97.

Empire District Electric Co.

On July 27, Empire District Electric Co. announced that second-quarter earnings more than doubled from the previous year.

Second-quarter earnings were $7.1 million, or 27 cents per share, compared with earnings in the same quarter last year of $3.2 million. Analysts expected Empire to earn 14 cents per share during the second quarter.

Earnings for the year ended June 30 were $29.6 million, or $1.13 per share. This compares to earnings of $21.1 million, or 82 cents per share, for the same period last year.

Empire spokeswoman Amy Bass said that increased electric rates and customer growth fueled the earnings increase.

According to the company, second-quarter revenues were higher by $7.6 million, or 8.6 percent, compared to 2005. Increased electric rates, including the Missouri Interim Energy Charge, contributed an estimated $2.4 million. Customer growth increased revenues by an estimated $2.4 million. Weather reduced revenues by $400,000. Off-system and other sales increased $2.4 million.

Also on July 27, the company’s board of directors declared a quarterly dividend of 32 cents per share payable Sept. 15 to shareholders of record as of Sept. 1.

Shares (NYSE: EDE) closed Aug. 2 at $22.18, compared to a 52-week range of $19.25 to $24.16.

Great Southern Bank

Springfield-based Great Southern Bancorp, the holding company for Great Southern Bank, on July 20 announced that second-quarter earnings were up from the same period last year, bumping its per-share figures by 4 cents.

Earnings were $7.5 million, or 54 cents per share, for the quarter, compared to $6.9 million, or 50 cents, reported in second-quarter 2005, excluding the effects of an accounting change.

Including effects of the change, per-share earnings for the quarter were 54 cents, compared to a restated 74 cents last year, though those figures are expected to flow back into income over the remaining terms of the change.

For the first six months of the year, earnings totaled $15 million, an increase from $13.4 million a year ago, excluding effects of the restatement. Earnings per share for the year to date are $1.09, up from 96 cents last year, also excluding the change.

Net interest income increased to $17.1 million, from $14 million in the same quarter last year.

Company officials say the quarter brought growth in lending, particularly for commercial and residential construction. Commission revenue from its investment, insurance and travel divisions also were up.

Assets as of June 30 were $2.24 billion, a $163 million increase from assets reported at the end of 2005.

Great Southern Travel announced July 28 it will purchase a Columbia travel agency, its second acquisition in that market in less than a year.

The agreement to acquire Global Travel and Vacations, 1400 Forum Blvd., is effective Aug. 1.

Great Southern Travel, a division of Great Southern Bank, acquired Columbia travel agency Global Travel and Vacations, its second such acquisition in the market. In August 2005, it bought Canterbury Travel and Tiger Travel Associates.

Great Southern Bancorp shares (Nasdaq: GSBC) closed Aug. 2 at $27.32, compared to a 52-week range of $25.05 to $32.64.

Guaranty Federal

Guaranty Federal Bancshares Inc., the holding company for Springfield-based Guaranty Bank, on July 14 announced a 6 percent increase in earnings per share for the second quarter.

Earnings were 56 cents per share, up from 53 cents the same quarter last year. Earnings per share are $1.12 for the first six months of the year, up from 96 cents last year.

Second-quarter net income rose 9 percent over the same quarter in 2005, from $1.45 million to $1.58 million.

Net interest income increased 13 percent over the prior year’s quarter, from $3.54 million to $4.04 million.

Holding company shares (Nasdaq: GFED) closed Aug. 2 at $28.88, compared to a 52-week range of $25.00 to $30.59.

Leggett & Platt

Carthage-based Leggett & Platt on Aug. 2 declared a third-quarter dividend of 17 cents per share, a 6.3 percent increase compared to the same period last year.

The dividend will be payable Oct. 13 to shareholders of record Sept. 15.

Leggett’s third-quarter results will be released after the market closes Oct. 19 and discussed in a morning conference call Oct. 20. The furniture manufacturer last month released second-quarter financial results showing record sales of $1.4 billion. (See report on page 16.)

Leggett shares (NYSE: LEG) closed Aug. 2 at $22.79, compared to a 52-week range of $18.19 to $27.04.

O’Reilly Automotive

Springfield-based O’Reilly Automotive Inc. on July 26 announced record earnings for the second quarter, during which the company opened a new distribution center in Indianapolis.

Net income for the quarter was $49.3 million, up 14.9 percent from $42.9 million the same period last year. Per-share earnings were 43 cents, a 5-cent, or 13.2 percent, increase from second-quarter 2005.

Product sales and gross profit for the quarter also were up. Product sales were $591 million, a 13.4 percent increase from $521 million reported last year. Gross profit rose 13 percent to $261 million, from $229 million a year ago.

Net income for the year to date is $89.9 million, up 18 percent from last year.

The quarter represented the 51st quarter of record revenue and earnings for O’Reilly since becoming a public company in 1993.

In the second quarter, O’Reilly opened 49 new stores, in addition to its Indianapolis center.

Shares (Nasdaq: ORLY) closed Aug. 2 at $28.62, compared to a 52-week range of $25.75 to $38.30.

On July 25, analysts at Kevin Dunn reiterated their “buy” rating of O’Reilly stock and reduced the target price from $47 to $42. Analyst Scott Ciccarelli of RBC Capital Markets maintained his “outperform” rating, setting a target price of $42.

Regions Bank

Birmingham, Ala.-based Regions financial Corp. on July 14 reported record quarterly earnings of 75 cents per diluted share.

Per-share earnings were up 17 percent from 64 cents the previous quarter and up 27 percent from the same quarter last year.

Second-quarter net income was $345 million. For the year to date, net income is $640 million, or $1.39 per share, up from $1.02 in the first six months of 2005.

Regions’ net interest income rose by $25 million in the quarter, a 13 percent increase from the first year and up 10 percent year-over-year.

Officials say the company continues to see the benefits of its mid-2004 merger with Union Planters. Regions’ also announced May 25 it would merge with Birmingham-based AmSouth by the end of the year.

Shares of Regions (NYSE: RF) closed Aug. 2 at $36.74, compared to a 52-week range of $29.16 to $36.86.

U.S. Bank

U.S. Bancorp, the holding company for U.S. Bank, on July 18 reported increased second-quarter earnings, due partly to growth in fee revenues.

Net income was $1.2 billion for the second quarter, up $80 million and 7.1 percent from the same period last year.

Earnings per share were 66 cents, up 10 percent from 60 cents in second-quarter 2005 and up 4.8 percent from 63 cents in first-quarter 2006.

Noninterest income compared to last year increased 13.9 percent.

The Minneapolis, Minn.-based company announced two acquisitions in June – Vail Banks Inc. in Colorado and Schneider Payment Services.

U.S. Bancorp shares (NYSE: USB) closed Aug. 2 at $31.92, compared to a 52-week range of $27.32 to $32.08.