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Earnings roundup

Several companies, including some based in Utah or with ties to the state, reported quarterly earnings results on Tuesday.

Procter & Gamble

Procter & Gamble posted a 33 percent jump in its first-quarter earnings as the world's largest consumer products company continues to reap the benefits of its 2005 acquisition of Gillette.

The maker of Pampers diapers, Tide detergent, Crest toothpaste and nearly 300 other well-known brands also lifted its full-year earnings outlook on a better commodity and energy cost forecast.

Net income for the quarter ended Sept. 30 rose to $2.7 billion, or 79 cents a share, from $2.03 billion, or 77 cents a share, a year ago. Revenue increased 27 percent to $18.79 billion from $14.79 billion last year.

Analysts surveyed by Thomson Financial were looking for earnings of 78 cents a share on sales of $18.56 billion.

P&G shares fell 42 cents to close at $63.39 on the NYSE after hitting a record of $64.02 on Monday. Shares have been as low as $52.75 in the past year.

Eastman Kodak

Eastman Kodak Co., scrambling to spin larger profits from digital photography as its fabled film business erodes, said its two straight years of quarterly losses narrowed in the July-September period as digital earnings surged above $100 million.

Excluding one-time items — chiefly $202 million in restructuring costs — the results beat Wall Street expectations and its stock rose nearly 3 percent.

Kodak lost $37 million, or 13 cents a share, in the three months ended Sept. 30 — its eighth quarterly loss in a row. But that compared with a year-ago loss of $914 million, or $3.18 a share, when it took a $778 million tax charge linked to its massive, four-year overhaul.

With special items removed, Kodak earned $130 million, or 44 cents a share, in the quarter. Analysts surveyed by Thomson Financial had forecast earnings of 19 cents a share on sales of $3.285 billion.

Sales fell 10 percent to $3.204 billion from $3.5 billion largely because of a slump in film sales.

Kodak's shares rose 65 cents, or 2.7 percent, to close at $24.40 on the New York Stock Exchange. They have traded in a 52-week range of $18.93 to $30.91.

Zevex

Salt Lake-based medical device company Zevex International Inc. reported net income of $419,000, or 7 cents per share, for the quarter ended Sept. 30. That compares with $785,000, or 15 cents per share, for the 2005 third quarter.

Revenue totaled $10.4 million, up from $8.1 million in the year-earlier quarter.

Zevex stock rose 9 cents Tuesday to close at $8.70 per share, prior to the release of earnings results. During the past year, the price has ranged from $3.33 to $19.70.

Nevada Chemicals

Salt Lake-based Nevada Chemicals Inc. reported net income of $816,000, or 12 cents per share, for the quarter ended Sept. 30. That compares with $592,000, or 8 cents per share, for the same quarter in 2005.

Revenue and equity in earnings of the company's joint venture totaled $1.8 million, up from $939,000 in the year-ago quarter.

Nevada Chemicals and Degussa Corp. are involved in a 50-50 joint venture in Cyanco, a producer and marketer of liquid sodium cyanide, used in the gold mining industry.

Nevada Chemicals stock rose 21 cents Tuesday to close at $8.17 per share. During the past year, the price has ranged from $5.62 to $11.54.

Fresenius

Germany's Fresenius Medical Care KGaA said third-quarter profit rose 20 percent after taking over U.S. rival Renal Care Group Inc. The company also raised its full-year outlook.

The Bad Homburg-based dialysis services company, which has dialysis filter manufacturing operations in Ogden that employ about 1,300, earned $139.2 million in the July-September period, compared with $115.9 million a year earlier. That beat the $133 million forecast by analysts polled by Dow Jones Newswires.

Excluding special items, such as charges related to the RCG deal, the company reported a third-quarter profit of $145 million.

Sales rose 30 percent to $2.23 billion.

Shares of Fresenius Medical Care gained 1.8 percent to 108.65 euros in Frankfurt trading.

Northwest Airlines

Northwest Airlines Corp. said bankruptcy expenses gave it a $1.18 billion third-quarter loss, but said it would have shown a profit without those and other one-time items.

Northwest's loss of $13.50 per share compared with a loss of $475 million, or $5.45 per share, during the same period last year, when it filed for bankruptcy protection.

Revenue rose almost 1 percent to $3.41 billion, up from $3.38 billion during the same period last year. Reorganization expenses totaled $1.43 billion in the quarter.

Northwest said it would have shown a $258 million operating profit for the quarter without reorganization items and income taxes, up from a $309 million loss during the same period last year.

The operating profit came despite a downturn in September, when Northwest said it lost $337 million including bankruptcy expenses, or a loss of $13 million not counting those expenses.

Northwest, the nation's fifth-largest airline, said it still expects a "modest profit" for all of 2006 on $12 billion in revenue, not counting reorganization expenses.

Visteon

Stung by production cuts at Ford Motor Co. and other big customers, auto parts maker Visteon Corp. reported a narrower loss of $177 million for the third quarter and said it expects to cut its white-collar work force by 900 in North America and Europe.

Visteon's third-quarter loss amounted to $1.38 per share for the July-September period, but was smaller than the loss of $207 million, or $1.64 per share, a year ago.

This year's loss was bigger than Wall Street expected, however. Eleven analysts polled by Thomson Financial had predicted a third-quarter loss of 76 cents per share.

Visteon shares rose 12 cents, or 1.7 percent, to close at $7.38 Tuesday on the New York Stock Exchange.


Contributing: Brice Wallace; The Associated Press