Dell Inc. (DELL: chart) announced after the bell Thursday fourth-quarter operating earnings that surpassed analysts’ expectations, boosted by strong demand from its U.S. business customers. However, the shares of the world's largest PC maker dropped more than 3% in after-hours trading, as quarterly revenue fell short of Wall Street’s projections, and the company forecast weaker-than-expected growth for the first quarter of 2005. Dell posted a net profit of $667 million, or 26 cents per share, for the fourth quarter of 2004, which included a tax charge of $280 million, or 11 cents a share. For the same quarter last year, net profit was $749 million or 29 cents per share. Excluding items, fourth-quarter earnings came to 37 cents a share, topping by a penny a share the consensus analysts’ estimate. For the quarter ended January 28, revenue increased 17% to $13.46 billion, but still missed analysts’ target of $13.54 billion. The Round Rock, Texas-based company said sales to U.S. business customers rose 19% from last year. U.S. consumer sales were up only 10%, hurt by pricing pressures. For the full year, earnings totaled $3.04 billion, or $1.18 per share, on revenue of $49.21 billion. That compares to $2.65 billion, or $1.01 per share, on revenue of $41.44 billion, for 2003.

Looking ahead, Dell forecast first-quarter income of 37 cents a share and revenue of $13.4 billion. Analysts predicted a profit of 36 cents a share, on revenue of $13.5 billion.

Dell shares gained 58 cents to $41.57 at market close Thursday. The stock dipped 3.20% to $40.24 in after-market trade.

Analog Devices, Inc. (ADI: chart) of Norwood, Massachusetts, posted Thursday an 8% drop in its quarterly profits, hurt by a decrease in revenue. The chip maker announced first-quarter earnings of $107.4 million, or 28 cents a share, compared with $116.8 million, or 30 cents a share, generated a year ago. The results were 1 cent a share below the mean analysts’ forecast. For the quarter ended January 29, sales eased 4% to $580.5 million, due to a decline in wireless handset products that were negatively impacted by excess inventory of wireless handsets by Chinese manufacturers.

The stock closed Thursday at $36.83, down 35 cents, or 0.94%. Company shares lost 21 cents to $36.62 in the extended session.

Brown & Brown, Inc. (BRO: chart) on Thursday turned in net income of $30.3 million, or 43 cents per share, for its fiscal fourth quarter, in contrast to net income of $25.8 million, or 37 cents per share, for the 2003 equivalent. The Daytona Beach, Florida-based insurer beat by 2 cents a share the average analysts’ estimate. The company attributed the results to strong revenue, which jumped 21% from last year to $163 million, helped by acquisitions.

Company shares shed 30 cents on Thursday to $43.50.

Pixar Animation Studios (PIXR: chart) of Emeryville, California, reported Thursday lower quarterly earnings, as revenues declined from a year earlier. The animation studio, which produced ‘The Incredibles’ last year, posted fourth-quarter net income of $55.2 million, or 91 cents per share, down from $83.9 million, or $1.44 per share, for the 2003 comparable period. Despite the drop, the earnings outpaced the average analysts’ forecast of 76 cents per share. Quarterly revenue fell to $108.9 million from $164.8 million.

The stock gained $1.00 to close Thursday at $89.88. Pixar shares rose 1.25% to $91.00 in after-hours trading.

Watson Pharmaceuticals, Inc. (WPI: chart) said Thursday that it earned $55.1 million, or 46 cents per share, in its fiscal fourth quarter, a 4% increase from prior-year earnings of $52.9 million, or 45 cents per share. The Corona, California-based pharmaceutical company cited strength in its generic drug business as main factor for the improvement. Analysts were looking for a profit of 43 cents per share, on average. Revenue for the quarter rose to $423.5 million from $406.2 million, aided by an 8% rise in generic drug sales.

Company shares closed Thursday down 37 cents, or 1.30%, at $28.11. The stock recovered 14 cents to $28.25 in extended trade.

MetLife, Inc. (MET: chart) reported after market close Wednesday a 27% decrease in its fourth-quarter earnings, hurt by losses related to hedges in currency markets. Nevertheless, the results of the insurance giant outpaced Wall Street’s projections and the company posted record annual profits, helped by improved equity and credit markets. New York-based MetLife announced net income of $511 million, or 68 cents a share, for the fourth quarter of fiscal 2004, compared with net income of $701 million, or 92 cents a share, for the same period last year, when large investment gains fueled the results. Excluding net investment gains and losses and other items, the company had an operating profit of $652 million, or 87 cents a share, for the quarter ended December 31, up from $565 million, or 74 cents a share, for the 2003 comparable period. The mean analysts’ forecast was for earnings before items of 83 cents a share. Quarterly revenue climbed to $10.06 billion from $9.53 billion. For all of 2004, net income hit a record $2.76 billion, or $3.65 a share, in contrast to $2.22 billion, or $2.94 a share, for 2003. The company attributed the results to strong performance in its institutional, individual and auto and home businesses.

MetLife shares slipped 0.47% on Wednesday to $40.24. The stock gained 17 cents to $40.41 in after-market trade.

Lincoln National Corporation (LNC: chart) of Philadelphia, Pennsylvania, posted Wednesday lower quarterly income, as one-time gains buoyed prior-year results. The insurer said it had net earnings of $189.9 million, or $1.07 a share, in its fourth quarter, down from $194.3 million, or $1.08 a share, generated a year earlier. Analysts had called for earnings of 98 cents a share, on average. Excluding items, year-ago profits totaled $178.7 million, or 99 cents a share. For the full fiscal year, Lincoln National recorded earnings of $707 million, or $3.95 a share, compared with $511.9 million, or $2.85 a share, last year.

The stock shed 38 cents to $46.67 at market close Wednesday.

CIGNA Corporation (CI: chart), one of the biggest health insurers in the U.S., on Wednesday rolled out a fourth-quarter net profit of $558 million, or $4.16 per share, in contrast to a profit of $281 million, or $2 per share, for the 2003 corresponding period. The Philadelphia-based company said higher earnings in its health-care division and a gain from the sale of its retirement unit drove the results. Excluding extraordinary items, Cigna earned $323 million, or $2.41 a share, up from $224 million, or $1.59 a share, a year ago, and ahead of the mean analysts’ forecast of $1.61 a share. Revenue for the quarter slipped to $4.34 billion from $4.5 billion.

Cigna shares rose 1.70% to close Wednesday at $85.35.

Napster, Inc. (NAPS: chart) of Santa Clara, California, said Wednesday that it swung to a quarterly profit from a prior-year loss, boosted by a gain from the sale of its Roxio consumer software division. The online music service reported third-quarter net income of $12.8 million, or 36 cents a share, jumping back from a loss of $25.6 million, or 92 cents a share, last year. Excluding items, the company narrowed its loss from continuing operations to $16.4 million, or 47 cents a share, from a loss of $17.9 million, or 64 cents a share, for the 2004 equivalent. Napster attributed the results to strong subscription growth. Quarterly revenue jumped to $12.1 million from $3.6 million.

The stock dropped 79 cents on Wednesday to $7.86. Company shares soared 4.33% to $8.20 in the extended session.