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Smith & Nephew’s Net Profit Falls on Costs
Feb 08, 8:47 AM EST |
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| Quarterly net income fell 26% from a year ago to $222 million and revenue rose 25% to $967 million after Smith & Nephew acquired Plus Orthopedics. |
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| Full-year sales rose 10% from a year ago to $3.4 billion, while trading profit climbed 17% to $706 million. The trading margin in the latest quarter declined as a result of the acquisition costs during the year, amounting to 70 basis points below the year-earlier numbers. Reported trading profit for the year was up 24% to $706 million with a 21% trading margin, 50 basis points higher than 2006 on the benefits of restructuring. |
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NYSE Euronext Profit Rockets 246% after Takeover
Feb 05, 1:57 PM EST |
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| Net profit in the fourth quarter increased to $156 million or 59 cents per share from $45 million or 29 cents per share a year ago. |
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| The stock market operator NYSE Euronext net profit tripled after the NYSE’s takeover on the pan-European market Euronext. Net profit for the fiscal year was 643 million euros ($952.5 million), an increase of 214% from a year ago. The profit growth was attributed to the tightened expenses controls and record trading in both the derivative and cash markets. |
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Moody's Earnings Decline 54%
Feb 07, 1:21 PM EST |
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| Revenue for the quarter was $504.9 million, a decrease of 14% from $590 million for the same quarter a year ago. |
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| The world''s second-largest credit rating company added that the decline is expected to continue in 2008. Fourth-quarter net income dropped to $127.3 million, or 49 cents a share, from $278.6 million, or 97 cents, a year ago. Net income included expenses of $47.8 million, or 11 cents per share, for restructuring including the 275 job cuts in an effort to solve the weaker demand. Excluding charges, operating profit dropped 14% to $259.9 million, or 60 cents a share. |
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Mazda’s Profit Rises 6.9% on Sales Growth
Feb 07, 10:20 AM EST |
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| Nine months profit rose 6.9% as sales increased 9.5% to 2.5 trillion yen from 2.2 trillion yen a year ago. |
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| Japan''s fifth-largest automaker said that despite the retail volumes decline of 3.6% to 175,000 units in Japan caused by falling demand, volumes in North America rose 8.6% as sales of CX-9 and Mazda 3 increased. Net income rose to 45 billion yen from 42 billion yen a year ago. Mazda maintained its full-year profit forecast of a 15% jump to 85 billion yen. |
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Cisco Falls 7% on Cautious Outlook
Feb 06, 10:13 AM EST |
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| Cisco stock fell in the after-hours trading after the company said that its January sales were below projection. |
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| Cisco second quarter earnings rose 7.2% to $2.1 billion or 33 cents per share from $1.9 billion or 31 cents per share. Revenue increased 16.5% to $9.8 billion on higher spending on switches and routers. Cisco fell 7% in the after-hours trading after its chief executive John chambers said that January sales were below expectations and select customers are holding back spending for internet infrastructure. |
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Man Group Profit Climbs 33%
Feb 06, 2:39 PM EST |
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| Sales in Russia rose more than 300% in 2007 and have risen over 100% in Poland over the past half decade. |
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| The German truck maker said fourth quarter revenue climbed 35% to 5.23 billion euro on solid demand across all major business lines, particularly in Poland, where the company has started a plant that is expected to manufacture up to 15, 000 vehicles annually. For 2008, MAN Group expects sales increase of more than 5% and return on sales of over 11%. |
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BHP First Half Profit Declines on Higher Costs
Feb 06, 2:47 PM EST |
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| BHP reported first half profit declined 2.8% to $6.0 billion but earnings per share increased 2.8% to $1.06 on fewer shares. |
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| BHP Billiton petroleum unit earnings climbed 22.3% to US$1.97 million for the first half ended Dec. 31, 2007 thanks to stronger production and higher prices for oil and gas outputs. Total production for the 6 months was 60.5 million BOE, up 5% from a year ago. Petroleum outputs enjoyed higher average realised prices in the quarter, with the biggest gain in the price of oil outputs at an average US$81.20 per barrel, up from US$63.77 a year ago. |
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Time Warner’s Outlook Disappoints
Feb 06, 1:31 PM EST |
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| Time Warner forecasts 7% - 9% EBITDA growth for 2008, compared with the 17% increase in 2007. |
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| The second-largest U.S. cable operator saw a better-than-expected 23% gain in quarterly profit, but disappointed investors warning that 2008 earnings are expected to miss estimates. For the year, the company forecast earnings per share of $1.25 to $1.30 from continuing operations, while revenue growth is seen at 9% for the year from $16 billion in 2007. |
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Mitsubishi Heavy Nine-Month Profit Up 41%
Feb 06, 1:13 PM EST |
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| The quarterly profit increase was led by strong sales in the Mass and Medium-Lot Manufactured Machinery, especially in Europe and Asia. |
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| Net income increased to 54.2 billion yen ($508 million) in the nine months ended Dec. 31 from 38.5 billion yen a year ago. Sales climbed 4% from a year earlier to 2.13 trillion yen led by 30% sales growth in Asia and 26% in North America. The company lifted its full-year net income forecast to 60 billion yen from 54 billion yen and the operating profit estimate to 130 billion yen from 115 billion yen. |
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TCS Revenue Jumps 8.4%
Jan 30, 10:47 AM EST |
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| Earnings per share increased from 7.67 rupees during the third quarter a year ago to 11.3 rupees in the latest quarter. |
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| Third quarter income rose 11.4% to 11.047 core rupees, from 7.502 crore rupees a year ago. After tax profit during the quarter rose 9.6% to 1,019 crore rupees. The provider of mission-critical wireless communications added that it has received orders for $12 million in messaging software and related systems for delivery to leading carriers in the first half of fiscal 2008 versus an average of about $4 million a year ago. |
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