Sales Gains Boost Deere’s Profit
Feb 13, 2:00 PM EST |
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| For fiscal first quarter net income was $ 369.1 million, or 83 cents a share, compared with $238.7 million, or 52 cents a share, a year earlier. |
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| Fiscal first-quarter net income jumped 55% as the agriculture sector bolstered global sales of the company’s John Deere farm machinery. Revenue rose 18% to $5.2 billion. Net worldwide equipment sales climbed 19% in the quarter, including a 6% gain from currency translation and price changes. Deere expects a 28% gain in agricultural equipment sales for fiscal 2008, including a 4% benefit from currency translation. |
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Blue Nile’s Outlook Disappoints
Feb 13, 1:37 PM EST |
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| Fourth quarter net income jumped 31% from a year ago to $7.5 million. Earnings per share increased 29% to 45 cents from 35 cents a year ago. |
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| The online jewelry retailer warned that its first-quarter and 2008 earnings are likely to miss expectations, hurt by the economy concerns among luxury retailers. Blue Nile predicted 2008 earnings will be flat compared with 2007, or about $1.04 per share. Sales are expected to increase at least 10% from $319.3 million posted in 2007. Blue Nile’s board approved the buyback of up to $100 million of its common stock in the next two years. |
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P.F. Chang's Quarterly Net Profit Declines
Feb 13, 12:48 PM EST |
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| Fourth-quarter net income was $7 million, or 28 cents per share, compared with $8.77 million, or 34 cents per share, a year earlier. |
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| P.F. Chang''s China Bistro reported a decline in quarterly net profit after charges that offset the effect of the higher revenue. The most recent quarter numbers included 8 cents per share charge tied to the assets of the company’s Taneko Japanese Tavern Restaurant, which P.F. Chang''s has agreed to sell. |
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Renewable Energy Profit Rises
Feb 13, 11:26 AM EST |
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| Quarterly profit rose to 423 million kroner from 336 million kroner in 2006 as shipments rose after shutdowns and disruptions in the third quarter. |
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| Renewable Energy revenues jumped to 6.64 billion kroner from 4.3 billion kroner in the previous year despite the delays in the construction and completion of a new plant for the manufacture of granulated silicon in Moses Lake, U.S. In the fourth quarter, the company announced the selection of a site in Singapore for a large integrated solar manufacturing complex. |
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Credit Suisse Profit Declines 25%
Feb 13, 8:44 AM EST |
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| Quarterly income from continuing operations before tax rose 20% year-on-year buoyed by growth in Private Banking and Investment Banking. |
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| The bank’s net revenues climbed 6% to 40 billion francs in 2007 from 38.6 billion a year earlier as revenues from Wealth Management and Retail and Corporate Banking increased 19% to 5.4 billion francs for the year. Fourth quarter net writedowns on residential mortgage backed securities were 480 million francs, while business net US subprime exposure was at 1.6 billion francs versus 3.9 billion francs the previous quarter. |
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Credit Suisse and Itau Post Higher Full-Year Net
Feb 12, 12:43 PM EST |
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| Credit Suisse net revenue for the quarter was 9.4 billion francs ($8.5 billion), down 13% from a year ago. |
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| Brazilian bank Itaú attributed the 58% jump in quarterly net profits to one-time gains and higher lending. Net profits totaled 2.03 billion reais ($1.15 billion) in the quarter versus 1.28 billion reais a year ago. The Swiss bank and financial services company Credit Suisse posted quarterly net revenue decline of 13% from a year ago, while net revenue for the year increased 6% to 40.9 billion francs ($37.2 billion). |
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Domestic Market Overshadows GM Gains
Feb 12, 12:02 PM EST |
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| GM improvement in domestic structural costs and better sales and earnings were overshadowed by ongoing difficulties in the U.S. |
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| General Motors sold more cars in the internatioal markets then in the U.S. and reported rising sales and earnings as well outside the U.S. Domestic market remains a challenge for the management in the face of stiff competition from Japanese and European makers. GM. reported $181 billion in revenues for 2007, declined from $206 billion in 2006. Fourth quarter net loss was $722 million, or $1.28 per share, compared with a net income of $950 million in the same quarter year-ago. |
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BlueLinx and Allot Post Lower Quarterly Net
Feb 12, 11:19 AM EST |
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| BlueLinx posted a net loss of $27.9 million on $3.8 billion in sales, versus net income of $15.8 million on $4.9 billion in sales in 2006. |
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| The building products distributor added that loss per share was 91 cents, compared with earnings of 51 cents a share in 2006. The company’s SKU rationalization initiative hurt earnings per share by about 20 cents for the full year. Sales for the year fell 21.7% on lower unit volume and prices. Allot Communications Ltd. Posted a 9% lower revenue in the quarter. |
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Ambuja Cements Profit Up 32%
Feb 01, 11:31 PM EST |
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| Ambuja Cements reported 2007 earnings rise of 32% on 18% increase in sales on fast rising demand from housing industry. |
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| Ambuja Cements reported 2007 net profit increase of 32% to 1,769 crore rupees on 18% rise in sales to 5,898 rupees. Ambuja, one of the three largest cement makers in India, is on an expansion drive to build larger clinkering and grinding facilities to tap into the rising demand driven by the fast rising housing market. Operating earnings margin fell on higher fuel, labor, and trasportation costs. |
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MAN Group Operating Profit Rises 57%
Feb 11, 2:41 PM EST |
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| Operating profit increased to an all time high at 1,730 million pounds up from 1,105 million a year ago. |
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| Sales during the fourth quarter were up by 19% to 15.5 billion pounds from 13 billion pounds a year ago. Sales from commercial vehicles advanced 1.7 billion pounds or 20% to 10.4 billion pounds of which 512 million pounds originated from the sale of leased vehicles from MAN Finance''s fleet. Excluding one-time items, sales of Commercial Vehicles rose by 14% and the MAN Group''s by 15%. |
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