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Earnings Analysis: 
Ashland Quarterly Net Reaches 67 Cents
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:39 AM EDT April 26 2006



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Ashland Inc, provider of chemical and transportation products and services, reported Q2 earnings of 67 cents a share, up from a profit of 44 cents a share a year-ago. Q2 results include 8 cents a share, in after-tax interest income, and tax benefits of 11 cents a share, from research and development credits and favorable adjustments to tax contingency reserves.

 
Ashland Inc., (ASH: chart), reported revenue came to $2.3 billion in Q2, up from $2.15 billion in the same period a year ago. The company added its quarterly earnings comparison reflects the transfer of its former 38% interest in a joint venture to its partner Marathon Oil. The company beat analysts’ estimate for a profit of 52 cents a share in Q2.

Parametric Technology, (PMTC: chart), business software company, reported Q2 earnings of 9 cents a share, down from 18 cents a share in the year-ago period on 14% revenue growth, amidst an 18% increase in service revenue and 3.6% growth. If not for non-recurring items, earnings would have been 20 cents a share. in license revenue. The company missed analysts’ expectations for earnings of 22 cents a share.

Sealed Air Corp, (SEE: chart), food packaging company reported flat Q1 net earnings at $55.8 million, while earnings per share advanced to 60 cents a share, from 58 cents a share in the year-ago period. Total net sales advanced to $1.02 billion from $969.8 million. The company missed analyst estimate for earnings of 67 cents a share. The company added that even though the costs of certain raw materials dropped over Q1, higher specialty resin costs in North America negatively impacted its food packaging business.

Louisiana-Pacific, (LPX: chart), building materials producer, reported Q1 net income dropped to 79 cents a share, down from 91 cents a share in the year-ago period, beating analysts’ forecasts for earningsvof 52 cents a share.

FirstEnergy Corp, (FE: chart), electric utility, reported Q1 net income advanced to 67 cents a share, from 48 cents a share a year earlier, beating analysts’ forecasts for earnings of 64 cents a share. Revenue gained 3%.

American Tower Corp, (AMT: chart), owner, operator and developer of broadcast-and-wireless-communications, reported that it narrowed Q1 loss to 1 cent a share, up from a loss of 14 cents a share in the year-ago period on 74% higher revenue. The company expects Q2 profit from continuing operations of $1 million to $3 million on revenue of $317 million to $322 million.

Engelhard Corp, (EC: chart), chemicals firm, reported Q1 net income advanced 19% to 55 cents a share on 43% revenue growth, beating analysts’ forecasts for earnings of 52 cents a share.

Potash Corp, (POT: chart), fertilizer company, reported Q1 net income fell to $125.5 million from $131.3 million a year ago, while earnings per share advanced to $1.19 from $1.15, as a result of the value of a reduced share base following the repurchase of 9.5 million shares in 2005. Sales dropped 7% to $861 million on lower volumes. Offshore volumes declined 48%.

Harleysville Group Inc, (HGIC: chart), property and casualty insurer, reported Q1 net income of 70 cents a share, up from 39 cents in the year-ago period. The cumulative effect of an accounting change for share-based payments added 3 cents to per-share net earnings for Q1, and operating earnings came to 62 cents a share. Quarterly revenue amounted to $239.5 million from $232.7 million. The company beat analysts’ expectations for earnings of 55 cents a share.

Monster Worldwide, (MNST: chart), online recruitment company, reported Q1 net income more than doubled to 32 cents a share on 28% revenue growth.The company earned 29 cents a share from continuing operations, beating analyst forecasts of 27 cents a share.

Evergreen Solar, (ESLR: chart), solar power products manufacturer, reported Q1 net loss rose to 13 cents a share, up from 6 cents a share in the year-earlier period on revenue growth, topping analysts’ forecasts for a loss of 14 cents a share. The company continues to expect its consolidated revenue to rise throughout the year, more than doubling from 2005 levels for full-year 2006.
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