3M Earnings Call, Second Quarter 2008
Jul 25, 2:40 AM ET |
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| The company reported a profit of $945 million, or $1.33 a share, up from $917 million, or $1.25 a share a year ago. |
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| Excluding one-time items, profit for quarter would have been $1.39 a share, up from $1.23 a share last year. Quarterly sales increased 9.7% to $6.74 billion, helped by global sales, which currently account for about two-thirds of the company’s total revenue. Optical sales declined 36%, with profits down 54% as LCD TV makers prefer cheaper light-refracting films. 3M expects full-year 2008 earnings per share to increase at least 10% from the $4.98 a year ago, excluding special items. |
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The McGraw-Hill Companies Earnings Call, Second Quarter 2008
Jul 31, 5:50 PM ET |
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| The biggest national housing recession since the great depression and the credit crunch in financial markets continue to have an impact on results. |
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| The leading global information services provider generated second quarter 2008 revenues of $1.7 billion, a decrease of 2.6% from the revenues generated in the same quarter last year. The management reported diluted EPS of 66 cents for the second quarter and the results include a pre-tax restructuring charge of $23.7 million ($14.8 million after tax) or 5 cents per share due to severance costs relating to headcount reduction. The diluted EPS for Q2 of 2007 was 79 cents. |
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Fresh Del Monte Produce Earnings Call, Second Quarter 2008
Jul 31, 5:42 PM ET |
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| High transportation, production and procurement costs were offset by higher global pricing which resulted in improved banana margins. |
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| The fresh produce firm reported sales of $972 million, 5% up from $924 million in 2007 driven by higher banana selling prices, due to industry-wide volume shortages and growing demand. However, income dropped 21% to $56 million or 87 cents a share on higher costs. Focused initiatives to secure land and production offer tremendous opportunities as global demand for agricultural products increases and suppliers face new hurdles in meeting that demand. |
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Office Depot Earnings Call, Second Quarter 2008
Jul 31, 5:39 PM ET |
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| As the economic climate remains weak, the firm is reducing the number of anticipated store openings to less than 15 stores this year. |
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| The provider of office products and services reported company sales of $3.6 billion, a decrease of 1% from $3.63 billion in the prior year due to the difficult environ. In response, the firm also realized a net loss of $2 million or 1 cents a share, down from of $106 million or 38 cents a share in 2007 due to higher costs. Office depot is bundling newly expanded services with products and aggressively growing Worklife Rewards sign-ups. |
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Legg Mason Earnings Call, First Quarter 2009
Jul 31, 5:35 PM ET |
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| Revenues were $1.05 billion, down 13%, reflecting a decline in fees earned on lower average assets under management and lower performance fees. |
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| The asset manager reported a net loss of $31.3 million, or 22 cents per diluted share, resulting from charges arising from previously announced support for money market funds, totalling $155.4 million as assets under management were $923 billion, down 7%. By raising capital early and taking proactive steps to reduce the overall exposure of funds to SIVs, the company is acting in the best interests of mutual fund clients and shareholders by pursuing new initiatives to deliver improved results. |
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General Motors Earnings Call, Second Quarter 2008
Jul 31, 1:12 PM ET |
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| The global market remains strong about 18.5 million vehicles were sold, which is a growth of about 1.6% compared with 2007. |
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| Global sales fell by 5% to a total of 2.28 million vehicles. Overseas growth rose 10%, setting records in all of its non-U.S. sales regions. Chevrolet posted strong growth in emerging markets, with the brand''s overseas sales up 19%. The company anticipates the market to hit about 72 million vehicles sold in 2008, which would represent growth of about 2.5%. |
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AT&T Earnings Call, Second Quarter 2008
Jul 31, 12:54 AM ET |
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| Profit rose to $3.77 billion, as growth in wireless subscribers helped to compensate for its shrinking traditional landline business. |
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| Consolidated revenues totaled $30.9 billion, up 4.7% versus reported results in the year-earlier quarter and up 3.6% compared with Q2 2007 pro forma revenues, which exclude merger-related accounting impacts on directory revenues. Operating income was $6.6 billion, up from $4.9 billion and operating income margin was 21.3%, up from 16.8%. Dividends paid totaled $2.4 billion in Q2. |
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Netflix Earnings Call, Second Quarter 2008
Jul 31, 12:24 AM ET |
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| The company posted higher profit of $26.6 million, buoyed by a 25% jump in subscribers. |
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| Revenue was $337.6 million, representing 11% year-over-year growth from $303.7 million for Q2 2007 and 4% sequential increase from $326.2 million for Q1 2008. Net subscriber change was an increase of 168,000, compared to a decrease of 55,000 for the same period of 2007 and an increase of 764,000 for Q1 2008. Gross margin was 31.8%, compared to 35.2% for Q2 2007 and 31.7% for Q1 2008. |
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AutoNation Earnings Call, Second Quarter 2008
Jul 31, 11:28 AM ET |
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| Profit declined to $51.8 million as sales of new vehicles declined. |
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| Revenue fell to $3.91 billion from $4.48 billion a year ago. The company recorded non-cash franchise impairments of $5.1 million or $3 million net of tax related to two stores. AutoNation new unit sales declined 12%. The company had an effective income tax rate of 41% versus a prior year effective rate of 37.3%. In the second half of the year, the company expects to achieve $50 million of savings for a full year 2008 impact of $75 million. |
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Ford Earnings Call, Second Quarter 2008
Jul 31, 10:45 AM ET |
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| Ford lost $8.7 billion, or $3.88 per share, including pre-tax special charges primarily due to the write-down of assets. |
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| Revenue, excluding special items, fell to $38.6 billion from $44.2 billion a year earlier. Pre tax results from continuing operation were a loss of $1 billion, $1.5 billion lower than a year ago. The company ended the quarter with $26.6 billion of cash down $10.8 billion from a year ago. The MKS and the Flex will be the first vehicle to receive Ford’s new EcoBoost engine technology. |
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