Lehman Brothers (LEH: chart) said Tuesday its 2Q net income advanced 12% to $683 million, or $2.26 a share, versus $609 million, or $2.01 a share a year earlier. Revenue rose 12% versus a year earlier levels, to $3.28 billion. Analysts had forecast Lehman to earn $2.22 a share.

Best Buy Co. Inc. (BBY: chart), Tuesday reported an 85% rise in quarterly profit, citing strong sales of MP3 music players, digital TVs and video games and fewer markdowns. As a result of the news, the company's stock advanced 11%.

Profit climbed to $170 million, or 51 cents a share, for 1Q ended May 28, versus $92 million, or 28 cents a share, a year ago.

Analysts had expected profit of 30 cents a share. The company on April 1 had targeted earnings of 27 cents to 32 cents a share, including stock-based compensation expense of 5 cents a share.

Revenue rose 12% to $6.1 billion.

Great Wolf Resorts Inc. (WOLF: chart), an indoor waterparks operator, Tuesday announced it is likely to report a 2Q loss of $1 million, or 3 cents on early Easter this year. A year ago the company reported earnings of 3 cents a share.

Factory Card & Party Outlet Corp. (FCPO: chart) reported that 1Q net income climbed to $0.36 million, or 10 cents a share, versus $0.3 million, or 9 cents a share, a year earlier. Sales declined 2.1% to $55.7 million, and comparable sales shed 4.3% in the period. The earnings increase primarily results from a jump in gross margins and cut advertising expenditures.

Royal Ahold (AHO: chart), catering and supermarket group, Tuesday said 1Q net income lost 55% to 134 million euros, with sales dropping 1% to 13 billion euros, citing lower sales and adverse currency moves. Analysts had expected net profits of 140 million euros.

Operating income declined 0.9% at 346 million euros. The company backed its 2006 targets of 5% sales growth, 5% operating margin and 14% return on net assets.

Cigna Corp. (CI: chart), health insurer, backed its 2005 profit goals and reconfirmed its membership estimates, according to a SEC filing Tuesday. On May 4, the company expected adjusted earnings from operations between $6.40 to $6.90 a share for 2005. Cigna also said it saw membership at the end of year to be about 8% below 2004 levels.

Journal Register Co. (JRC: chart) reported Tuesday advertising revenue for the four weeks ended May 29 climbed 40% to $36 million versus $25.6 million in the year-ago four-week period. The newspaper company said 2Q earnings are seen at 34 to 36 cents a share, in accordance with analysts expectation.

Knight-Ridder Inc. (KRI: chart), newspaper publisher, said 2Q earnings per share are to match a year-ago EPS before favorable adjustments. Last year the company recorded $1.08 per share EPS versus analysts' forecasts of $1.05 for 2Q. Knight Ridder cited severance costs in Detroit, weaker operating income and the lack of the favorable adjustments. In May, advertisement revenue climbed 3.5% and operating revenue remained unchanged.

Tribune Company (TRB: chart), a media company, said consolidated revenues dropped 1.9% to $458 million in May. The company posted a 0.6% drop in publishing revenues to $323 million, as advertising revenues grew 0.3% to $256 million and circulation revenues lost 9.4% to $46.5 million, mainly on volume declines in newspapers. Broadcasting and entertainment group revenues declined 4.6% to $135 million in May, while television revenues shed 7.5% and radio and entertainment revenues advanced 8.1%.