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Earnings Analysis: 
AES Posts Triple 1Q Profit
Author: Albena Toncheva
123jump.com
Last Update: 13:32 PM ET May 05 2005



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The global power company AES Corp. reported Thursday that it almost tripled its 1Q profit in the first quarter citing a big increase in revenue and profit in the company’s South American businesses.

 
AES Corp. (AES: chart) also said it planned a reorganization of its executive team and addition of four new regional presidents in order to facilitate the company’s opportunities around the world.

Net income advanced to $133 million, or 20 cents per share, from $48 million, or 8 cents, in the year-earlier period. The company said adjusted earnings were 17 cents per share, in line with the estimates.

Revenue was $2.65 billion, up 17% vs. $2.26 billion a year ago and ahead of the $2.5 billion analysts’ forecast.

AES' biggest gains were in South America, the company’s largest segment accounting for 45% of the company's total revenue.

AES backed its forecast for full year adjusted earnings of 83 cents per share, below the analyst estimate of 85 cents per share.

Barr Pharmaceuticals, Inc. (BRL: chart) today said net earnings for 3Q ended March 31, 2005 were $61.3 million, or $0.58 per share on a fully diluted basis, versus $35.1 million, or $0.33 per share on a fully diluted basis, for the same period a year ago.

The Akron, Ohio-based Goodyear Tire & Rubber Co. (GT: chart) turned a1Q profit, its fourth quarterly profit in a row as the company saw price increases and sales of more expensive tires drive an 11% revenue increase.

The nation's largest tire maker reported 1Q income of $68 million, or 35 cents per share, versus a loss of $78 million, or 45 cents per share, a year-earlier. Sales advanced to $4.7 billion from last year's $4.3 billion.

The New York distributor of financial services products National Financial Partners Corp. (NFP: chart) reported a year-over-year drop in earnings attributable to climbing firm level and internal review costs and expenses related to the company’s office re-location, interest and asset impairment.

The company posted a profit of $5.8 million, or 16 cents a share, for the quarter, down vs. its year-earlier earnings of $6.9 million, or 19 cents a share. The company earned $14.4 million, or 39 cents a share, missing the average estimate of analysts for a profit of 44 cents a share.

The Pittsburgh safety technology developer Mine Safety Appliance Co. (MSA: chart) reported first-quarter earnings of $21.4 million, or 57 cents a share, up from a year-ago profit of $16.1 million, or 43 cents a share. Sales jumped 17% in 1Q to $228 million from $194.5 million in the same period a year earlier. The average estimate of analysts was for earnings of 48 cents a share on revenue of $222 million for the March period.

The Everett, Washington-based industrial technology company Unova Inc. (UNA: chart) reported first-quarter earnings of $3.5 million, or 6 cents a share, down from a year-earlier profit of $10.5 million, or 17 cents a share. On a continuing operations basis, the company earned $5.4 million, or 9 cents a share, in line with the average estimates. Revenue climbed in the latest three months to $196.5 million from $193 million in the same period a year ago.

The drug and drug delivery technology company Bentley Pharmaceuticals (BNT: chart) posted earnings of $2.2 million, or 10 cents a share, up from a year-earlier profit of $800,000, or 4 cents a share, and slightly ahead of Wall Street's estimate. Revenue climbed 40% in the latest three months to $24.2 millin from $17.3 million in the same period a year earlier. The company said the strong results are mainly attributable to continuing sales volume growth for certain products in Spain, the strengthening of the Euro, and increased royalties from Testim.

The electronic trading exchange company Arbinet Theexchange Inc. (ARBX: chart) posted first-quarter earnings of $1.3 million, or 5 cents a share, up from a year-earlier pro forma profit of $835,775, or 4 cents a share. Revenue from fees advanced 22% in the latest qaurter to $12.3 million from $10.1 million in the same period a year ago. The average estimate of analysts was for earnings of 10 cents a share in the March period on revenue of $13.6 million.
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