Constellation Brands Third Quarter Earnings Call
Jan 12, 10:04 AM EST |
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| Profit rose to $119.6 million, helped by sales of Svedka vodka, which was an acquired last year and lower expense. |
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| The wine maker’s revenue fell to $1.41 billion from $1.83 billion a year ago, due to reporting the Crown Imports and Matthew Clark wholesale business joint ventures under the equity method. Branded wine sales had been hit by a decision last March to cut wine shipments to U.S. distributors. Consolidated gross margin was 36.3%, up 5.3 percentage points. The company expects 2008 earnings of $1.06 to $1.11 per share, or $1.33 to $1.38 per share excluding items. |
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Spansion First Quarter Earnings Call
Jan 11, 5:53 PM EST |
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| Revenue increased 12% to $628 million from $562 million in 2006 buoyed by increased bit shipments and robust MirrorBit(R) ORNAND(TM) solutions sales. |
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| The provider of flash solutions realized a decline in the loss position to $75 million, or 56 cents per share, from a net loss of $52 million, or 40 cents per share in 2006, as margins declined due to price per bit declines. Consequently, the firm will undertake large scale cost-cutting measures designed to improve overall financial performance, including the sale of non-performing assets, the consolidation of certain functional operations and other activities related to reducing expenses. |
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Spansion Fourth Quarter Earnings Call
Jan 11, 3:55 PM EST |
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| Revenue rose 16% to $687 million from $592 million in 2005, despite reduced demand for midrange wireless handsets. |
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| The provider of flash memory solutions reported a reduction in its net loss to $25 million, or 19 cents per share, from a loss of $48 million, or 63 cents in 2005 on revenue growth. The firm gained market share, completed some strategic transactions and improved financials, including strong cash management, while delivering on its strategy to structure the company for future growth with a successful convertible bond offering and continued focus on capital efficiency. |
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Corning First Quarter Earnings Call
Jan 11, 6:40 AM EST |
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| Net profit, excluding special items, was $452 million, up $27 million or 6% from the prior year quarter. |
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| The provider of technology based products reported revenue of $1.31 billion, up 4% from the prior year quarter. During Q1, the firm recorded a charge of $110 million, reflecting the increase in market value of Corning common stock to be contributed to the asbestos litigation related to Pittsburgh Corning and $15 million related to retirement of debt. The conversion of EAGLE XG continues to go well and the firm estimated that EAGLE XG represented about 40% of glass production in Q1. |
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United Technologies First Quarter Earnings Call
Jan 11, 3:45 AM EST |
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| The net profit rose to $819 million or 82 cents per share as against $768 million or 76 cents per share in the prior year quarter. |
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| The provider of technology products and services to building systems and aerospace industry reported revenue of $12.3 billion, up 16% from $10.62 billion in the prior year quarter. United Technologies was fined to total of approximately $300 million for the Otis EU matter. The fine was partially offset by related reserves with the net charge at roughly 20 cents per share. For fiscal 2007, the firm continues to expect the earnings per share to be in a range of 4.05 to 4.20. |
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BP Fourth Quarter Earnings Call
Jan 10, 12:23 PM EST |
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| Replacement cost profit was $3,895 million or $20.08 a share, down 12% from 2005 due to lower refining margins and lower gas realizations. |
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| The oil and gas exploration company reported a marginal drop in revenues from $63.8 billion in 2005 to $62.8 billion despite a number of discoveries and reserves added through exploration, along with the lowest finding costs per barrel in the industry. As a result, reserves have more than doubling to 17.7 billion barrels of oil equivalent. Additionally, the firm distributed $23.2 billion to shareholders, including $15.5 billion in share buybacks, thereby reducing shares in issue by 6%. |
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KB Home Fourth Quarter Earnings Call
Jan 10, 8:12 AM EST |
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| The net loss increased to $772.7 million or $9.99 per share compared to a loss of $49.6 million or 64 cents per share. |
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| The leading homebuilder of the US reported revenue of $2.07 billion, down from $3.01 billion in the prior year, primarily reflecting lower housing revenues. The quarterly results included non-cash charges of $403.4 million associated with inventory and joint venture impairments and the abandonment of certain land option contracts. In Q4, the net orders dropped 32% over last year to 2,574 new homes. KB Home expects the tough conditions in the home building industry to continue in 2008. |
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Family Dollar Stores First Quarter Earnings Call
Jan 10, 5:31 AM EST |
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| Profit fell 4% to $51.9 million on lower traffic, as consumers cut back their discretionary spending. |
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| Family Dollar Stores’ revenue rose 5% to $1.68 billion, from $1.6 billion a year ago. Sales of consumables and seasonal and electronics products were the strongest. Same-store sales fell 1% due to lower traffic. The company repurchased approximately 2.9 million shares for a total cost of $80.7 million. The company expects Q2 earnings of 40 to 44 cents a share and full-year earnings of $1.56 to $1.64 a share. |
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Gannett First Quarter Earnings Call
Jan 09, 4:47 AM EST |
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| The net income dropped to $210.6 million or 90 cents per share as against $235.3 million or 99 cents per share in the prior year quarter. |
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| The revenue of the newspaper publisher dropped 1% over prior year to $1.87 billion, reflecting the absence of revenue associated with the Olympics in 2006’s first quarter and softer advertising demand at domestic newspaper properties. The company has announced the sale of four newspapers for $410 million and it expects to close the transaction in the second quarter of 2007. Gannett relaunched the USA Today.com site and witnessed a 380% increase in registrations. |
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Advanced Micro Devices First Quarter Earnings Call
Jan 09, 3:43 AM EST |
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| Operating loss was $363 million, excluding ARC charges and stock-based compensation expense. |
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| Advanced Micro Devices’s revenue decreased to $1.23 billion from $1.33 billion a year ago. Microprocessor unit shipments declined in all product categories and ASPs declined in both desktop and mobile. Graphics segment revenue was $197 million, reflecting a full quarter of operations. The company continues to be focused on increasing liquidity for the business and expanding financial flexibility. In a seasonally down second quarter, AMD expects revenue to be flat to up. |
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