American Express Company (
AXP: chart) reported after market close Monday record quarterly earnings and revenues, boosted by robust growth in cardmember spending among consumers and businesses. The New York-based travel, financial and network services provider announced net income of $876 million, or 68 cents a share, for its fiscal 2004 second quarter, a 15% increase from net income of $762 million, or 59 cents a share, in the same period a year earlier. Earnings topped by a penny a share the consensus estimate of analysts. For the quarter ended June 30, revenue advanced 14% to $7.3 billion from $6.4 billion a year ago, aided by a 14% growth at the company’s travel-related services business, 18% growth at its financial advisors business and 2% growth at its banking segment. Analysts were looking for revenue of $6.91 billion in the quarter. American Express said that billed business on credit and charge cards exceeded $100 billion, which was a record high for a single quarter. The company added that it also benefited from lower defaults on its cards.
Company shares closed Monday up 79 cents, or 1.64%, at $48.90. The stock gained 55 cents to $49.45 in after-hours trading.
Providian Financial Corporation (
PVN: chart) of San Francisco, California, posted Monday earnings of $69.7 million, or 24 cents per share, for the second quarter of fiscal 2004. This compares to $39 million, or 13 cents a share, generated in the prior-year corresponding quarter. The financial services company attributed the results to better credit performance, growth in lending and lower operating expenses.
The stock inched up 6 cents on Monday to $13.86. Company shares slipped 0.79% to $13.75 in after-market trade.
BellSouth Corporation (
BLS: chart) announced Monday that its quarterly profits inched up 5% from last year due to stronger results from its long-distance and high-speed Internet services. The Atlanta, Georgia-based telecommunications company turned in earnings of $996 million, or 54 cents a share, for its second quarter, up from earnings of $951 million, or 51 cents a share, in the 2003 equivalent. Results were 4 cents a share ahead of Wall Street’s average forecast.
BellSouth shares rose 3.51% to $26.81 at market close Monday.
Andrew Corporation (
ANDW: chart) of Orland Park, Illinois, said Monday that its quarterly earnings more than doubled, citing improved wireless infrastructure market demand and its acquisition of Allen Telecom as main factors for the profit jump. The maker of telecommunications equipment reported third-quarter net income of $17.7 million, or 11 cents a share, in contrast to net income of $7.6 million, or 8 cents a share, last year. Excluding items, earnings came in at 14 cents a share, a penny above analysts’ expectations. Quarterly sales soared to $493 million from $213.7 million, a year ago.
The stock plummeted 22.88% to close Monday at $11.39. Andrew shares dropped 11 cents to $11.28 in the extended session.
Boston Scientific Corporation (
BSX: chart) posted Monday second-quarter net income of $313 million, or 36 cents a share, compared with year-earlier net income of $114 million, or 13 cents a share. Excluding items, the Natick, Massachusetts-based maker of medical devices reported earnings of 44 cents a share for the second quarter, up from 15 cents a share a year ago, but a penny short of the mean estimate of analysts. The company said results were due to strong sales of its new drug-coated heart stent and favorable currency exchange rates.
Company shares surged 6.31% on Monday to $35.71. The stock added 29 cents to $36.00 in after-hours trading.
Agilysys, Inc. (
AGYS: chart) of Mayfield Heights, Ohio, announced Monday that it swung to a quarterly profit from a year-earlier loss, helped by aggressive marketing and higher technology spending. The distributor of enterprise computer systems said that it earned $3.9 million, or 14 cents a share, in its fiscal first quarter ended June 30, bouncing back from a prior-year loss of $1.5 million, or 5 cents a share. Sales in the quarter jumped 38% to $386.7 million from $279.6 million.
The stock closed Monday at $13.14, up $2.39, or 22.23%.
Check Point Software Technologies Ltd. (
CHKP: chart) reported Monday a second-quarter net profit of $63.3 million, or 24 cents per share, compared with a net profit of $60.2 million, or 24 cents per share, in the 2003 comparable period. The Israel-based provider of security software said it had a profit, excluding items, of 25 cents a share, matching the average analysts’ forecast. The company attributed the results to strong growth in license revenue.
Company shares plunged 10.85% to $18.49 at market close Monday. The stock shed 13 cents to $18.36 in after-market trade.
HCA Inc. (
HCA: chart) of Nashville, Tennessee, said Monday that its quarterly profits advanced nearly 47% from a year ago, due to a decline in insurance costs. The U.S. top hospital operator rolled out net earnings of $352 million, or 72 cents per share, for its second quarter, against earnings of $240 million, or 47 cents per share, in the 2003 corresponding quarter. Quarterly revenue edged up 6.7% to $5.83 billion from $5.47 billion, last year.
The stock shed 48 cents to close Monday at $40.27.
Humana Inc. (
HUM: chart) posted Monday second-quarter net income of $80.8 million, or 50 cents per share, up 17% from net income of $69.3 million, or 43 cents per share, for the same period in 2003. Results of the health benefits company powered past the mean analysts’ estimate of 39 cents a share. Louisville, Kentucky-based Humana said the profit rise was due to strength in its government business and lower medical costs.Quarterly revenue rose to $3.43 billion from $3.03 billion, in 2003.
Humana shares soared 5.10% on Monday to $17.92.