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Earnings Analysis: 
PacificNet Posts a Quarterly Loss
Author: 123jump.com Staff
123jump.com
Last Update: 1:51 PM EST November 20 2006



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PacificNet declined to a loss in the third quarter, hurt by new wireless services billing policies in China. Campbell Soup reported lower quarterly net income for company’s tax bill return to normal after a one-time break last year. Lowe''s third-quarter profit increased 10.8% despite a sales decline on slowing housing market and a relatively calm hurricane season.

 
PacificNet Inc. (PACT: chart), customer relationship management, mobile internet, e-commerce and gaming technology provider, recorded a third-quarter net loss of $1.12 million, or 10 cents per share compared with a net profit of $611,000, or 5 cents per share in the same quarter a year earlier. Revenue climbed 16.5% to $12.9 million from $11 million during the year-ago period.

Campbell Soup Co. (CPB: chart), soup maker, reported first-quarter net income of $291 million, or 72 cents per share versus $302 million, or 73 cents per share, a year ago. Earnings from continuing operations came to 66 cents per share. Revenue climbed to $2.15 billion from $2 billion in the year-ago period.

Lowe''s Companies (LOW: chart), home improvement chain, said that its third-quarter earnings increased to $716 million, or 46 cents per share, compared with $646 million, or 40 cents per share, a year earlier. Revenue rose 5.8% to $11.21 billion versus $10.59 billion a year ago, while same-store sales fell 4%. Sales were hurt by a slowing housing market, deflation in certain commodities categories and difficult comparisons to year-ago results.
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