Smithfield Foods, Inc. (SFD: chart) reported net income slid to $85.4 million, or 76 cents a share, versus $122.7 million, or $1.09 a share, a year earlier. The latest quarter includes $4.4 million, or 3 cents a share, gained in a legal settlement.

Excluding gains and discontinued operations, the company would have earned $71.1 million, or 63 cents a share, in 4Q of 2004.

Sales advanced 16% to $2.92 billion vs. $2.52 billion a year ago. Analysts expected earnings of 73 cents a share on sales of $2.8 billion.
For the full year, Smithfield earned $296.2 million, or $2.64 a share versus $227.1 million, or $2.03 a share, a year ago. Sales surged to $11.35 billion vs. $9.27 billion. Analysts forecasted slightly higher annual profit of $2.65 a share on sales of $11.25 billion.

The natural gas and oil production company MDU Resources (MDU: chart) Friday backed its guidance for earnings of $1.80 to $2 a share in 2005. The analysts' forecast is for a profit of $1.98 a share for the full year. The company said the guidance reflects last week's decision by a U.S. Court of Appeals to issue an injunction that might hit its natural gas production in Montana. As a result from the injunction the company postponed drilling about 200 coalbed natural gas wells in Montana and slashed its forecast for total natural gas and oil production for 2005 to breakeven or slightly up vs. 2004 production, which is lower than the earlier estimate for 6 to 10% growth.

The chip testing equipment maker LTX Corp. (LTXX: chart) Friday posted a 3Q loss of $45.7 million, or 75 cents a share vs. a year-earlier profit of $4.3 million, or 7 cents a share. These results include restructuring and asset impairment charges of $28.6 million, or 47 cents a share. Sales declined in the latest quarter to $25.5 million versus $70.3 million in the comparable period a year ago. Analysts expected a loss of 27 cents a share on revenue of $26.7 million. The company expects to lower its flat point to $46 million by the end of 4Q. LTX expects a loss of 9 to 12 cents a share in 4Q on revenue between $37.5 million to $39.5 million. Analysts' estimate is for a loss of 19 cents a share in the quarter ended July, on revenue of $32.5 million.

Cognos (COGN: chart), a software company, warned revenue for the 1Q ending May 31 will be in the range of $198 million and $200 million, as the company closed fewer larger transactions late in the quarter. The Canadian company also cited the strong U.S. dollar as a reason for the downwardly revised guidance. Cognos sees earnings between 21 and 23 cents a share. Analysts had forecasted EPS of 25 cents on revenue of $207.5 million.

Alexion Pharmaceuticals Inc. (ALXN: chart) reported that a net loss for 3Q widened to $32.5 million, or $1.16 a share, versus $15.2 million, or 69 cents a share. Revenue declined to $151,000 vs. $168,000 a year ago on a drop in revenues.