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Earnings Analysis: 
Toyota's Profit Slides
Author: Albena Toncheva
123jump.com
Last Update: 9:46 AM ET May 10 2005



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The Japanese auto maker Toyota Motor Corp. said its 4Q net profit dropped 17% vs. a year-ago comparable quarter that benefited from a big pension-related gain. Toyota's 2005 earnings climbed slightly on stronger vehicle sales.

 
For the quarter ended March 31, Toyota (TM: chart) posted net profit of 290.7 billion yen ($2.75 billion) versus 351.2 billion yen a year ago, when the net profit included a huge pension-related gain of 107 billion yen.

Sales in 4Q advanced 4.2% to 4.882 trillion yen vs. 4.685 trillion yen. Operating profit slid 23% to 383 billion yen from 497.5 billion yen.

For the full fiscal year, Toyota's net climbed slightly, to 1.171 trillion yen against 1.162 trillion yen a year earlier. Sales jumped 7.3% to 18.552 trillion yen vs. 17.295 trillion yen. Operating profit inched up to 1.672 trillion yen vs. 1.667 trillion yen.

Axel Springer Verlag AG said Tuesday net rose strongly in 1Q due to well performing new titles and controlled costs.

Net profit was 47.6 million euros ($61.1 million) for the quarter, up nearly 68% against 28.4 million euros in 1Q a year earlier.

The company's sales edged up to 578.7 million euros ($754.9 million) vs. 577.2 million euros in 1Q last year.

Springer backed its outlook that full-year earnings before interest, taxes and amortization will be slightly higher than last year's 243 million euros.

Kraft Foods Inc. (KFT: chart) backed its forecast for earnings from continuing operations of $1.73 to $1.78 a share in fiscal 2005, up 12 to 15% vs. a year ago. The analysts' estimate is for earnings of $1.93 a share.

Domino's Pizza Inc. (DPZ: chart) reported 1Q earnings of $25 million, or 35 cents a share, up vs. $18.4 million, or 26 cents a share, in the same quarter a year earlier, topping the analysts' estimates of 30 cents a share. Revenue climbed to $369.7 million against last year's $318.8 million. Domestic same-store sales advanced 11%.

Church & Dwight Co. (CHD: chart) Tuesday said its 1Q earnings climbed 26% on the full ownership of a former joint venture. The company, whose products include Brilllo scrubbing pads, Trojan condoms and cat litter, reported earnings of $37.7 million, or 56 cents per share, vs. $29.9 million, or 46 cents per share, in the comparable quarter a year earlier. Analysts’ estimate called for earnings of 48 cents per share, on sales of $419 million.

Sales climbed 42% to $420.7 million against $296 million a year earlier on the acquisition of Armkel, which reported sales of $113.8 million in the 1Q a year earlier.

Tom Online Inc. (TOMO: chart) posted 1Q net income of $9.2 million versus $8.4 million in 1Q a year earlier. The wireless operator said revenue soared 36% to $35.3 million against year-earlier levels, and 2% on a sequential basis. The company expects revenue in 2Q to rise in the range of 5% and 10% to between $37 million to $38.8 million.

Agilysys Inc. (AGYS: chart) reported a 4Q loss of $230,000, or a penny a share, down vs. a year-earlier profit of $4.8 million, or 17 cents a share. Sales shed 4% in the latest quarter to $356.4 million against $371.6 million in the same quarter a year ago. Looking ahead, the computer technology reseller sees sales growth of 5 to 7% in fiscal 2006 vs. its total of $1.62 billion in fiscal 2005. The average estimate of analysts was for a profit of 3 cents a share on sales of $388.8 million.

Journal Communications Inc. (JRN: chart) posted revenue jump of 1.7% for its Publishing and Broadcast groups in April to $39.1 million against $38.4 million in the same period a year earlier. The media and communication company said advertising revenue climbed 2.5% in the month to $32.7 million against $32 million a year earlier.

El Paso Corp. (EP: chart) reported 1Q earnings of $106 million, or 17 cents a share, compared with a loss of $206 million, or 32 cents a share in the same quarter a year before. Analysts had been expecting earnings of 21 cents a share. Revenue declined to $1.21 billion vs. last year's $1.56 billion.
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