Pension Worldwide, Inc. (PNSN) Reports Profit in Fourth Quarter of 2009
Pension Worldwide, Inc. reported net income of $4.3 million, or $0.17 per diluted share, in the fourth quarter of 2009. The company lost $10.8 million, or ($0.43) per diluted share, in the same quarter of 2008. Revenues were $74.4 million in the quarter, up approximately 8% from the $69 million in the fourth quarter of 2008. Pension Worldwide, Inc. said that revenues in the fourth quarter of 2009 were artificially boosted by the sale of LCH Clearnet stock by the company. Pension Worldwide, Inc. also improved its balance sheet on a year over basis. Cash and cash equivalents totaled $48.6…