The Munich-based chipmaker Infineon (IFX: chart) said Tuesday it swung to a net loss in its fiscal 2Q on restructuring charges and losses at its communications division.

The company lost 114 million euros ($147.81 million) in the January-March period, compared with a profit of 39 million euros in the same period last year.

Sales in the quarter were down 4%to 1.6 billion euros ($2.07 billion) vs. 1.67

BP PLC (BP: chart) said its 1Q earnings climbed by more 30%, boosted by oil prices, high refining margins and increased petroleum production.

BP reported 1Q profit of $6.66 billion, or 25.61 cents a share, up 35% vs. $4.95 billion, or 19.3 cents, in the first quarter of 2004. Revenue was $79.8 billion, up 16% vs. $69 billion a year ago. The company reported exceptional gains of $535 million in the latest quarter, mainly attributable to the sale of a Norwegian gas field, compared to one-time gains of $776 million in 1Q of last year.

BP said it realized average crude prices of some $43.37 a barrel, vs. $31.30 a barrel in the year-earlier period and $41.01 a barrel in 4Q of 2004.

Average global margins for the quarter came in at $5.94 a barrel in the period, vs. $4.89 a barrel a year ago. Margins for gasoline on the U.S. west coast soared 60% to $12.88 from $8.06.

BP's shares were up 1.6% in late-morning trading in London Tuesday.

Honda Motor Co. (HMC: chart) said Tuesday that its group net profit surged 27% in the January-March period fueled by higher sales and cost-cutting efforts.

The Japanese auto maker posted a group net profit of 94.05 billion yens ($890.3 million) for the three-month period, or 101.43 yens a share, up from 74.11 billion yens, or 78.47 yens a share, in the year-earlier period.

For the full fiscal year, Honda sold 3.24 million vehicles, up 8.7% from 2.98 million vehicles in the prior fiscal year. Although vehicle sales were slightly down by 0.6% in Japan, they were up 16% in Europe and 50% in Asia. North American sales inched up 1.1%.

For the current fiscal year ending March 2006, Honda expects a 7.5% drop in group net profit to 450 billion yens; group operating profit of 650 billion yens, and group sales of 9.3 trillion yens. Honda plans to sell 3.4 million automobiles.

Taiwan Semiconductor Manufacturing Co. (TSM: chart) Tuesday said that the chip maker's net profit fell 10% in the first quarter on weaker U.S. dollar and declining shipments.

TSMC, the world's biggest producer of custom-made chips for electronics products by sales, said its net profit slid to 16.82 billion New Taiwan dollars (US$536.4 million), or 72 New Taiwan cents a share, in 1Q, down from NT$18.79 billion, or 80 cents a share, for the year-earlier period.

Revenue dropped 3.2% to NT$55.65 billion, from NT$57.51 billion a year earlier.

For full-year 2005, TSMC said it is on course for capital expenditure of US$2.5 billion-US$2.7 billion.
TSMC counts Texas Instruments Inc. and graphics chip developer Nvidia Corp. among its clients.

Electric utility operator Exelon Corp. (EXC: chart) said Monday its 1Q earnings gained 26.5% on stronger power generation unit, surpassing analysts' expectations.

Net income surged to $521 million, or 77 cents per share, vs. $412 million, or 62 cents per share, a year earlier. Excluding items, the company earned $452 million, or 67 cents per share, 10% above last year's operating profit of $406 million, or 61 cents per share. Analysts forecast an operating gain of 65 cents per share in the latest quarter.

Revenue declined to $3.56 billion from $3.64 billion last year.

Chicago-based Exelon backed its expected 2005 operating earnings to range between $2.90 and $3.10 per share. Analysts are forecasting full-year profit of $3.05 per share, on average.