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Earnings Analysis: 
Public Service Posts 48% Higher Profit
Author: 123jump.com Staff
123jump.com
Last Update: 2:01 PM EST November 01 2006



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Public Service Enterprise Group said its third-quarter profit rose 48% on improved results from its power generation business and higher overall sales. Newmont Mining said third-quarter profit climbed 57% as surging gold prices overshadowed declining sales volume. Patterson-UTI Energy quarterly earnings surged 75% on strong demand for company’s contract drilling services. MasterCard third-quarter profit climbed 82%, on increased revenue and a higher number of purchases worldwide.

 
Public Service Enterprise Group (PEG: chart), engaged in the transmission and distribution of electric energy and natural gas, said that its third-quarter earnings increased to $374 million, or $1.48 per share, compared with $253 million, or $1.03 per share a year-ago quarter. Revenue climbed to $3.39 billion from $3.32 billion in the same period a year earlier.

Newmont Mining Corp. (NEM: chart), gold producer, said that its third-quarter earnings rose to $198 million, or 44 cents per share, compared with a year-ago profit of $126 million, or 28 cents per share. Revenue fell to $1.1 billion from $1.15 billion in the same period a year earlier.

Patterson-UTI Energy Inc. (PTEN: chart), pressure pumping services provider, reported third-quarter earnings of $186 million, or $1.12 per share, up from $106.3 million, or 61 cents per share, a year earlier. Revenue climbed 44% to $673.7 million compared with $468.7 million in the same period a year earlier, thanks to continued strong demand for contract drilling services.

MasterCard Inc. (MA: chart), credit card brand owner, reported third-quarter net income of $193 million, or $1.42 per share, up from $106.1 million, or 79 cents per share in the year-ago period. Revenue for the three months climbed 14% to $902 million from $791.6 million a year ago.

Giga-tronics Inc. (GIGA: chart), subsystems and microwave components maker, said that its second-quarter net loss fell to $403,000, or 8 cents per share, versus a net loss of $1.14 million, or 24 cents per share, in the year-ago period. Revenue climbed to $3.93 million from $3.61 million, as orders more than tripled to $5.81 million from $1.85 million in the year-ago comparable quarter.

Technology Research Corp. (TRCI: chart), electrical safety products maker, said that its second-quarter net loss increased to $416,000, or 7 cents per share, compared to a net loss of $245,000, or 4 cents per share, in the second quarter a year earlier. Revenue jumped to $9.71 million from $8.66 million in the year-ago period.

Brinks Co. (BCO: chart), armoured car and security system provider, reported third-quarter net income of $26.5 million, or 56 cents per share, compared with $65.8 million, or $1.15 per share in the year-ago period. Revenue climbed to $721 million from $651 million in the year-ago quarter.

Pioneer Natural Resources Co. (PXD: chart), oil, natural gas liquids, and gas producer, said that its third-quarter earnings fell to $80.8 million, or 64 cents per share, versus a year-ago profit of $123.6 million, or 88 cents per share. Revenue in the latest three months climbed to $432.6 million from $397.9 million in the same period a year earlier.
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