Several companies, including a couple with Utah connections, reported quarterly financial results on Wednesday.

Mity Enterprises

Orem-based Mity Enterprises Inc. reported net income of $1.2 million, or 28 cents per share, for the quarter ended Dec. 31. That compares with $800,000, or 18 cents per share, for the year-earlier quarter.

The earnings-per-share fell short of the lone Wall Street prediction for the most recent quarter, 32 cents.

Sales in the fiscal third quarter totaled $13.4 million, up from $11.9 million a year earlier.

The company designs, manufactures and markets institutional furniture.

The company's stock rose 19 cents Wednesday to close at $18.51 per share on Nasdaq. During the past year, the price has ranged from $13.36 to $19.58.

ConocoPhillips

Houston-based ConocoPhillips Co., the nation's third-largest integrated oil and gas company, said its fourth-quarter profit ballooned as prices and refining margins remained strong versus a year ago.

Earnings expanded to $3.68 billion, or $2.61 per share, from $2.43 billion, or $1.72 per share, a year ago. ConocoPhillips posted income from continuing operations of $3.78 billion, or $2.69 per share, versus $2.48 billion, or $1.76 per share. Analysts surveyed by Thomson Financial predicted earnings of $2.62 per share.

Revenue surged to $50.2 billion from $40.1 billion in the year-earlier quarter.

Profit for the full year jumped to $13.53 billion, or $9.55 per share, from $8.13 billion, or $5.80 per share, in 2004. Full-year revenue increased to $183.4 billion from $136.9 billion in 2004.

ConocoPhillips is the third-largest integrated oil and gas company in the U.S., behind Chevron Corp. and Exxon Mobil Corp. It has 50 percent interest in a Salt Lake City terminal.

The company's stock fell 94 cents Wednesday to close at $63.54 per share on the New York Stock Exchange. During the past year, the price has ranged from $44.13 to $71.48.

Bristol-Myers Squibb

Bristol-Myers Squibb Co. said its fourth-quarter earnings more than tripled from a year ago despite falling sales because the drugmaker's year-ago net income was depressed by a one-time charge.

Bristol-Myers said it earned $499 million, or 26 cents a share, compared with $139 million, or 7 cents a share, in the fourth quarter of 2004. It took a $575 million charge to repatriate foreign earnings in the fourth quarter of 2004.

After charges, Bristol-Myers earned 31 cents a share, beating the 28-cent consensus estimate of analysts surveyed by Thomson Financial.

Net sales fell 3 percent to $5.02 billion from $5.16 billion as New York-based Bristol-Myers continues to struggle with patent losses on key drugs.

Xerox

Xerox Corp. said its fourth-quarter profit rose 18 percent as strong sales of new color products and cost cutting offset equipment sales hurt by a shift to lower cost machines.

The maker of printers and copiers, based in Stamford, Conn., predicted its profits for this year will be at the higher end of its forecast range.

Xerox said net income available to common shareholders was $267 million, or 27 cents per share, for the three months ended Dec. 31, up from $226 million, or 24 cents per share, in the same quarter a year ago.

Excluding a 5-cent restructuring charge, the results matched the expectations of analysts surveyed by Thomson Financial for earnings of 32 cents per share, company officials said.

Norfolk Southern

Norfolk Southern Corp., the nation's fourth biggest railroad operator, reported a 37 percent profit increase for the fourth quarter, surpassing Wall Street estimates amid strong demand for freight rail transportation.

Norfolk Southern earned $362 million, or 87 cents per share, in the quarter ended Dec. 31, up from $264 million, or 65 cents per share, in the same quarter a year ago. Analysts surveyed by Thomson Financial had estimated earnings of 75 cents per share for the quarter.


Contributing: Associated Press