Hewlett-Packard Company (
HPQ: chart) said after the bell Wednesday its quarterly earnings more than doubled on stronger sales of its printers, personal computers and corporate servers. The computer giant reported a net profit of $862 million, or 28 cents per share, for its fiscal 2003 fourth quarter, compared with $390 million, or 13 cents per share, in the year-earlier period. Excluding items, profit came in at $1.10 billion, or 36 cents per share, up from $721 million, or 24 cents per share, generated last year, and a penny ahead of analysts’ projections. For the quarter ended October 31, Palo Alto, California-based Hewlett-Packard said revenue jumped 10% to $19.9 billion from $18.05 billion, a year ago. Printer revenue was up 11% to $6.25 billion, in the fourth quarter. The personal systems group had revenue of $6.0 billion, a 19% increase from prior year.
For the first quarter of 2004, HP expects to post earnings before items of 35 cents a share, on revenue of $19.1 billion to $19.5 billion, which would be in line with Wall Street views.
HP shares rose 2.59% on Wednesday to $22.21. The stock gained 69 cents to $22.90 in after-hours trading.
Foot Locker, Inc. (
FL: chart) posted after market close Wednesday a third-quarter profit of $62 million, or 41 cents a share, up from $45 million, or 31 cents a share, in the year-ago quarter, and well ahead of the average analysts’ estimate for earnings of 34 cents a share. The New York-based shoe-store chain said results were due to positive sales trends, strong margin improvement and cost management. For the quarter ended November 1, revenue climbed to $1.19 billion from $1.12 billion, a year earlier.
Company shares dropped 30 cents to close Wednesday at $18.30. The stock soared 4.92% to $19.20 in after-market trade.
Qwest Communications International Inc. (
Q: chart) of Denver, Colorado, said Wednesday it swung to a third-quarter profit due to the sale of its QwestDex directory service operations. The No.4 long distance company in the U.S. reported income of $1.8 billion, or $1.05 per share, in contrast to a prior-year loss of $123 million, or 7 cents a share. Revenue was down to $3.57 billion, from $3.77 billion a year earlier, hurt by competition in the local voice and wireless services.
The stock closed Wednesday up 30 cents, or 8.82%, at $3.70.
Marvell Technology Group Ltd. (
MRVL: chart), the Sunnyvale, California-based chipmaker, posted Wednesday a third-quarter net profit of $12.0 million, or 8 cents a share, reversing a net loss of $7.7 million, or 6 cents a share, in the 2003 equivalent. The company said net revenue leapt 58% to $215.3 million. Marvell attributed the results to market share gains in the data storage market.
Marvell shares shed 35 cents on Wednesday to $42.00. The stock plummeted 10.24% to $37.70 in after-hours trading.
Big Lots, Inc. (
BLI: chart) announced Wednesday a net loss of $6.4 million, or 5 cents a share, in its third quarter, compared with a loss of $5.1 million, or 4 cents a share, in the 2003 comparable period. Excluding an after-tax charge, the Columbus, Ohio-based U.S. largest closeout retailer lost $5.1 million, or 4 cents per share, matching the average analysts’ estimate.
The stock surged 5.01% to $14.45 at market close Wednesday.
The Goodyear Tire & Rubber Company (
GT: chart) of Akron, Ohio, reported after market close Wednesday a third-quarter net loss of $105.9 million, or 60 cents a share, compared with a net profit of $32.7 million, or 20 cents a share, in the same quarter a year ago. The largest tire maker in North America cited charges for cost-cutting moves as main factor for the loss. Quarterly sales climbed to $3.9 billion from $3.53 billion a year earlier.
Company shares added 2.21% to $6.48 on Wednesday. The stock gained a penny in after-hours trading.
Intuit Inc. (
INTU: chart) said Wednesday it narrowed its quarterly loss amid revenue growth. The Mountain View, California-based software maker posted a first-quarter net loss of $54 million, or 27 cents a share, against a net loss of $54.7 million, or 26 cents a share, a year ago. The company had fewer shares outstanding in this year's first quarter. Revenue jumped 14% to to $242.5 million from $212.9 million.
The stock edged up 18 cents on Wednesday to $46.35. Company shares rose 1.40% to $47.00 in after-hours trading.
The Talbots, Inc. (
TLB: chart) of Hingham, Massachusetts, reported Wednesday smaller third-quarter income of $34.8 million, or 60 cents per share, in contrast to $37.4 million, or 63 cents per share, in the 2003 third quarter. Results topped by a penny analysts’ target. The clothing retailer said tepid sales weighed down the results.
Talbots shares closed Wednesday at $31.67, up $1.17, or 3.84%.
Brookstone, Inc. (
BKST: chart), the Nashua, New Hampshire-based specialty retailer, said Wednesday it trimmed its third-quarter loss, boosted by strong sales of its new products. The company posted a loss of $5.9 million, or 45 cents per share, for the quarter ended November 1, from $6.7 million, or 52 cents per share, last year. Results were in line with analysts’ forecasts.
The stock was up 3.03% on Wednesday to $22.46. Company shares fell 0.05% to $22.45 in after-market trade.
OmniVision Technologies, Inc. (
OVTI: chart) of Sunnyvale, California, saw its quarterly earnings nearly quadruple, boosted by strong cellphone, digital-camera, and video-game markets. The chipmaker reported Wednesday a second-quarter net profit of $11.6 million, or 39 cents a share, on revenue of $68.5 million. For the same period a year ago, profit was $3 million, or 12 cents a share, on revenue of $21.7 million. Analysts had called for profit of 31 cents a share in this year’s second quarter.