Net income applicable to common stock holders for the second quarter was $8.1 million, or 4 cents a share, compared with $171.5 million, or 95 cents a share, in the year ago quarter.

Adjusted earnings for the quarter was $1.08 a share, compared with $1.82 a share in the same quarter last year.

Total revenue fell about 19 percent to $3.86 billion.

Analysts, on average, were expecting earnings of 76 cents a share, before special items, on revenue of $3.57 billion, according to Reuters Estimates. For the full year 2009, the company now expects earnings to be in the range of $3.10 to $3.30 per share. The company had earlier forecast earnings for the year to be between $2.90 to $3.20 a share.

Analysts were expecting earnings of $3.03 a share.

Constellation shares closed at $29.03 Thursday on the New York Stock Exchange. They have traded in a range of $15.12 to $85.53 in the last one year.

(Reporting by Hezron Selvi in Bangalore; Editing by Aradhana Aravindan)