Several companies with Utah connections reported quarterly financial information on Tuesday.
Convergys
Cincinnati-based Convergys Corp. reported first-quarter net income of $36.7 million, or 26 cents per share. That compares with $31.2 million, or 22 cents per share, for the same quarter a year earlier.
Revenues totaled $675.3 million, up 6 percent from a year earlier.
The customer care, human resources and billing services company has more than 65,000 employees at 72 contact centers, three data centers, and other facilities worldwide. Convergys has about 8,300 workers at six call centers in Utah.
The company's stock rose $1.53 Tuesday to close at $19.60 per share.
L-3 Communications
L-3 Communications Holdings Inc., a defense-electronics maker built on more than 80 acquisitions, said first-quarter profit rose 36 percent, boosted by demand for aircraft maintenance, training and communications.
Net income increased to $138.9 million, or $1.13 a share, from $102.4 million, or 86 cents, a year earlier, New York-based L-3 said. Sales surged 48 percent to $2.9 billion.
The company was expected to earn $1.11 in the quarter, the average estimate of 14 analysts surveyed by Thomson Financial.
Communications Systems-West, the Salt Lake division of L-3, employs 2,300 people in Utah.
Shares of L-3 fell $1.29, or 1.5 percent, to $84 Tuesday in New York Stock Exchange composite trading.
Northrop Grumman
Northrop Grumman Corp., the world's largest warship builder, said profit fell 12 percent on delays at its Gulf Coast shipyards after Hurricane Katrina caused $850 million of damage last year.
Northrop's net income fell to $358 million, or $1.02 a share, from $409 million, or $1.11 a share, a year earlier, the Los Angeles-based company said.
Northrop's profit was expected to drop to 99 cents a share, the average estimate of 17 analysts surveyed by Thomson Financial.
Sales dropped 3.6 percent to $7.18 billion.
Northrop Grumman has about 1,250 employees in Utah.
Shares of Northrop fell $2.17 to $69.06 Tuesday in NYSE composite trading.
HCA
HCA Inc. reported that first-quarter earnings dropped 8.5 percent after an increase in uninsured admissions cut into revenue gains at the nation's largest for-profit hospital operator. Its shares fell more than 1.7 percent.
Net income fell to $379 million, or 92 cents a share, from $414 million, or 95 cents a share, in the year-ago period. The result was toward the high end of the company's recent forecast range and exceeded the average analyst estimate of 89 cents a share, according to Thomson Financial.
The Nashville-based company said revenue climbed to $6.42 billion from $6.18 billion, as revenue at units open at least a year gained 5 percent.
At the end of 2005, HCA operated 182 hospitals and 94 freestanding surgery centers located in 22 states, London and Geneva, compared with 189 hospitals and 92 freestanding surgery centers at the end of 2004.
HCA's Mountain Division includes MountainStar Hospitals in Utah: St. Mark's Hospital in Salt Lake City, Ogden Regional Medical Center, Brigham City Community Hospital, Lakeview Hospital in Bountiful, Timpanogos Regional Hospital in Orem, Mountain View Hospital in Payson and a new Draper facility that will open in 2007. Two Idaho hospitals — Eastern Idaho Regional Medical Center in Idaho Falls and West Valley Medical Center in Caldwell — also are part of the division.
HCA shares fell 79 cents to close at $45.25 Tuesday on the New York Stock Exchange.
Varian Medical
California-based Varian Medical Systems reported net earnings of $56 million, or 41 cents per share, for the fiscal 2006 second quarter. That includes the impact of stock option expensing. That compares with $54 million, or 39 cents per share, in the year-earlier quarter.
Varian has about 450 employees in Salt Lake City, which serves as headquarters for its X-ray products business segment.
Revenues were a company-record $414 million, up from $351 million in the year-ago quarter. X-ray products contributed a segment-record $61 million, up 21 percent year over year.
Varian manufactures cancer therapy systems and supplies X-ray tubes and flat-panel digital subsystems for imaging in medical, scientific and industrial applications. It has about 3,750 employees worldwide.
Varian stock fell 68 cents Tuesday to close at $52.90 per share.
Holly Energy
Dallas-based Holly Energy Partners LP reported first-quarter net income of $7.1 million, or 42 cents per share. That compares with $6.3 million, or 43 cents per share, for the same quarter a year ago.
Revenues totaled $22.4 million, up from $16.5 million.
Holly Energy Partners provides refined petroleum product transportation and terminal services to the petroleum industry, including Holly Corp., which owns a 45 percent interest in the partnership. The partnership owns and operates refined product pipelines and terminals in several states, including Utah. Holly Corp. operates a refinery in Woods Cross.
HEP stock fell 34 cents Tuesday to close at $41.24 per share. During the past year, the price has ranged from $35.80 to $47.
Contributing: The Associated Press; Bloomberg News