Lehman Brothers Holdings Inc. (LEH: chart) announced before Tuesday’s opening bell that its fiscal 2004 first-quarter net profit more than doubled, boosted by higher revenue across all segments. The New York-based investment bank rolled out record first-quarter net earnings of $670 million, or $2.21 a share, in contrast to net earnings of $301 million, or $1.15 a share, in the corresponding period of 2003. The consensus estimate of analysts was for a profit of $1.66 per share. Lehman also reported record net revenue of $3.14 billion for the quarter ended February 29, an 84% rise from $1.7 billion a year earlier. Stock and bond trading revenue surged to $2.22 billion and represents 71% of the company’s quarterly revenue. Lehman said investment banking revenue jumped 39% to $508 million, equity underwriting revenue soared 142% to $143 million, and client services revenue was up 134% to $416 million from a year earlier.

Lehman shares closed Tuesday up 39 cents, or 0.46%, at $85.04.

KB Home (KBH: chart) of Los Angeles, California, posted after the bell Tuesday net income of $74.2 million, or $1.75 a share, for its first quarter, up 40% from net income of $52.8 million, or $1.25 a share, in the same quarter a year earlier. The home builder beat analysts’ expectations for a profit of $1.59 a share, on average. Quarterly revenue improved 24% to $1.35 billion from $1.09 billion, in fiscal 2003, helped by an increase in delivered homes. The company said it also benefited from higher selling prices.

The stock rose 1.39% on Tuesday to $79.25. Company shares added 25 cents to $79.50 in after-market trade.

General Mills, Inc. (GIS: chart) reported Tuesday that its quarterly earnings were virtually flat compared with the prior-year results, due to higher costs for raw materials and weaker sales of bakery products. The Minneapolis, Minnesota-based food company said it earned $242 million, or 63 cents a share, in the third quarter of fiscal 2004, against net income of $240 million, or 63 cents a share, last year. Net sales climbed 2% to $2.70 billion, from $2.65 billion a year ago.

Company shares shed 20 cents to $46.15 at market close Tuesday.

Progress Software Corporation (PRGS: chart) of Bedford, Massachusetts, said Tuesday that its first-quarter profit climbed 9% as the increase in revenue offset higher special charges. The business software company announced first-quarter net earnings of $4.6 million, or 12 cents a share, compared with $4.2 million, or 12 cents a share, generated in the year-ago equivalent. Excluding items, earnings were $7.5 million, or 19 cents a share, up from $4.7 million, or 13 cents a share, a year earlier, and 3 cents a share ahead of the mean estimate of analysts. Total revenue advanced 20% to $86.4 million, from $71.8 million last year.

The stock was up 1.36% on Tuesday to $22.32. Company shares inched up 2 cents to $22.34 in after-hours trading.

Scholastic Corporation (SCHL: chart) posted after market close Tuesday a wider net loss of $6 million, or 15 cents a share, for its third quarter, in contrast to a net loss of $500,000, or a penny a share, in the corresponding period of fiscal 2003. The New York-based children's book publisher cited weakness at its direct-to-home book sales and trade businesses as main factors for the wider loss. Analysts had expected Scholastic to earn a penny a share in the third quarter.

Scholastic shares edged up 6 cents to close Tuesday at $31.17. The stock dropped 5 cents to $31.12 in after-market trade.

Lennar Corporation (LEN: chart), the Miami, Florida-based home builder, announced Tuesday a 31% rise in its quarterly earnings, citing low interest rates which helped boost the demand for new houses. For the first quarter of fiscal 2004, the company turned in net income of $139.3 million, or 84 cents a share, compared with net income of $106.3 million, or 68 cents a share, in the prior-year period. Revenue increased 16% to $1.9 billion, in the quarter, from $1.6 billion a year earlier.

The stock inched up 3 cents on Tuesday to $56.01. Lennar shares dipped 2.34% to $54.70 in after-hours trading.

Angiotech Pharmaceuticals, Inc. (ANPI: chart) reported Tuesday that its fourth-quarter loss more than tripled to C$19.1 million, or 23 Canadian cents a share, from a loss of C$6 million, or 9 Canadian cents a share, a year earlier. The Vancouver, Canada-based company, which uses pharmacotherapeutics to enhance the performance of medical devices and biomaterials, said results were dragged down by a C$13 million foreign exchange loss. Quarterly sales surged to C$13.5 million from C$170,000, last year.

Company shares dropped 26 cents to close Tuesday at $23.14. The stock plunged 5.57% to $21.85 in after-market trade.

The Stanley Works (SWK: chart) of New Britain, Connecticut, raised Tuesday its earnings target for the first quarter, on strong revenue growth. The toolmaker said it now expects a profit of 63 cents to 67 cents a share, in the first quarter. The company had previously forecast earnings of 49 cents to 51 cents a share.

The stock gained 30 cents to $36.80 at market close Tuesday. Company shares rose 4.38% to $38.41 in after-hours trading.

Avery Dennison Corporation (AVY: chart) lifted Tuesday the lower end of its first-quarter profit estimate by 3 cents a share and now sees earnings of 63 cents to 67 cents a share. The Pasadena, California-based maker of labels and stamps had earned 71 cents a share in the year-ago first quarter.

Company shares inched down 5 cents to close Tuesday at $60.69.

Canon Inc. (CAJ: chart) said Tuesday that it expects to beat its prior earnings forecast for the first quarter, on rising sales of digital cameras and copier-printer machines. Japan's No.1 maker of office equipment said it sees a net profit of about 90 billion yen ($816 million) in the quarter, compared with an earlier outlook of 73 billion yen.

The stock closed Tuesday at $47.75, up 33 cents, or 0.70%.