Several companies, including a few with Utah connections, reported quarterly financial results on Monday.
Lindon-based management software company Altiris Inc. reported net income of $2.8 million, or 10 cents per share, for the second quarter ended June 30. That compares with $4.6 million, or 16 cents per share, for the same period in 2005.
The figures for the most recent quarter include charges of $1.7 million for the amortization of acquired intellectual property; $995,000 for amortization of intangible assets; and $3.3 million in share-based compensation.
Revenue totaled $55.6 million, up 20 percent from $46.3 million a year earlier.
Altiris stock rose 24 cents Monday to close at $17.26. During the past year, the price has ranged from $12.76 to $22.44.
Altiris also said its board of directors has authorized the repurchase of up to $50 million of the company's outstanding common stock.
Salt Lake-based medical device company Zevex International Inc. reported net income of $1.5 million, or 24 cents per share, for the quarter ended June 30. That compares with $168,000, or 3 cents per share, for the same quarter a year ago.
Revenue totaled $10.5 million, up from $6.8 million in the prior-year quarter.
Zevex stock rose 90 cents Monday to close at $16.72. During the past year, the price has ranged from $2.60 to $19.70.
Salt Lake-based Nevada Chemicals Inc. reported net income of $241,000, or 3 cents per share, for the quarter ended June 30. That compares with $395,000, or 6 cents per share, for the same quarter in 2005.
Revenue sand equity in earnings of joint ventures totaled $2 million, up from $722,000, in the prior-year quarter.
Nevada Chemicals Inc. and Degussa Corp. are involved in a 50-50 joint venture producing and marketing liquid sodium cyanide for the gold mining industry in the West.
Nevada Chemicals stock fell 37 cents Monday to close at $8.57. During the past year, the price has ranged from $5.62 to $11.54.
Simon Property Group Inc., the largest U.S. shopping-mall owner, said earnings in the second quarter fell 42 percent because of smaller gains from property sales. A rise in tenants' rents partly offset the decline.
Net income fell to $101.3 million, or 37 cents a share, after preferred distributions, from $173.2 million, or 70 cents, a year earlier, the Indianapolis-based company said. Revenue rose 6.2 percent to $798.7 million from $752.1 million.
Simon Property, which owns Trolley Square in Salt Lake City, had a gain of $112,000 on the sale of discontinued operations, compared with a $119.7 million gain a year earlier. In the year-earlier period, Simon sold five office buildings in Chicago to focus on owning and managing retail properties.
Funds from operations, a measure of cash flow used by real estate investment trusts, rose to $1.26 a share from $1.18 a year earlier.
Simon Property shares fell 29 cents Monday to $85.53 in New York Stock Exchange composite trading. They've gained 12 percent this year.
United Airlines parent UAL Corp. formally announced its first true quarterly profit since 2000, punctuating a turnaround quarter for U.S. carriers despite record fuel prices.
Reaffirming the $119 million profit it announced last week, UAL's earnings for the April-through-June period amounted to 93 cents per share and compared with a loss of $1.43 billion, or $12.33 per share, a year earlier when the company was operating under Chapter 11 bankruptcy protection. Revenue grew 16 percent to $5.11 billion from $4.42 billion.
It was the first quarter in the black for the Elk Grove Village, Ill.-based company since it earned $408 million in the second quarter of 2000.
UAL emerged from bankruptcy in February.
Shares in the company fell $1.38, or 5 percent, to close at $26.14 on the Nasdaq Stock Market as the entire airline sector was pressured by the latest jump in oil prices. The stock is down from $40 when it began trading in February.
MetLife Inc., one of the nation's top insurers, said second-quarter profit declined compared with a year-ago period that included more than $1 billion in one-time gains. Operating earnings came in above Wall Street expectations, however, due to a surge in total U.S. annuity deposits.
Net income after paying preferred dividends slid to $617 million, or 80 cents per share, from $2.25 billion, or $3.02 per share, in the year-earlier period. The recent quarter included $2 million in one-time losses, while the 2005 quarter included $1.23 billion in gains on real estate sales.
Excluding items, MetLife earned $982 million, or $1.28 per share, in the latest quarter, up from $870 million, or $1.17 per share, last year.
Revenue rose to $11.41 billion from $10.96 billion a year ago.
The company's stock fell 65 cents to close at $52 on the New York Stock Exchange.
Shares of Tyson Foods Inc. shed 3 percent on Monday after the world's largest meat processor reported a fiscal third-quarter loss and predicted only modest improvement in the fourth quarter.
Tyson reported a loss for the April-June period — which it blamed on weakness in its chicken and beef divisions — of $52 million, or 15 cents per share, versus a profit of $131 million, or 36 cents per share, in the year-ago quarter. Revenue dipped 5 percent to $6.38 billion from $6.71 billion last year.
Its shares closed down 41 cents at $14.16 on the New York Stock Exchange.
Avon Products Inc., the world's biggest direct seller of beauty products, said its second-quarter profit dropped 54 percent, mostly due to charges from a restructuring program aimed at reviving lackluster sales.
The New York-based company said that for the three months ended June 30 it earned $150.9 million, or 33 cents per share, compared with $328.6 million, or 69 cents per share, in the year-ago period.
The latest results were reduced by 7 cents per share after taxes for restructuring costs.
Avon posted total revenue of $2.1 billion versus $1.98 billion a year ago.
Shares fell $3.82 Monday to close at $28.99. They have traded in a range of $24.33 to $34 for the past year.
Chipotle Mexican Grill Inc., a casual-dining restaurant chain, said its second-quarter profit fell 58 percent from results fattened by a one-time tax benefit a year ago. Its revenue climbed 31 percent, however.
For the April-June quarter, the Denver-based company had net income of $10.8 million, or 33 cents a share, compared with $25.7 million, or 98 cents a share, in the second quarter of 2005. Excluding a $20.3 million nonrecurring tax benefit in the 2005 quarter, the company said it would have earned only $5.4 million a year ago.
Revenue rose to $204.9 million from $156.3 million a year earlier. Comparable restaurant sales — sales at sites open at least a year — rose 16.9 percent.
Chipotle's shares closed up $2.37, or 4.7 percent, at $52.50 a share on the New York Stock Exchange ahead of the earnings report.
Contributing: Associated Press, Bloomberg News.