Reply #13: MBNA 3rd-quarter profit falls 1 pct [View All]

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-10-19T115807Z_01_N19700525_RTRIDST_0_FINANCIAL-MBNA-EARNS-UPDATE-1.XML

NEW YORK, Oct 19 (Reuters) - MBNA Corp. (KRB.N: Quote, Profile, Research), a credit card company being acquired by Bank of America Corp. (BAC.N: Quote, Profile, Research) for $35 billion, on Wednesday said third-quarter profit fell 1 percent, as revenue fell slightly faster than expenses.

Net income for the Wilmington, Delaware-based company fell to $717.9 million from $728.3 million a year earlier.

Profit was 56 cents per share in both periods. Analysts polled by Reuters Estimates on average had forecast 53 cents.

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MBNA shares closed on Tuesday at $24.50 on the New York Stock Exchange. Through Tuesday, they have fallen 13 percent this year, compared with a 7 percent drop in the Standard & Poor's Consumer Finance index.

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