Unilever (UN: chart) said that net profit declined to 784 million euro ($956.1 million) versus 1.07 billion euro in comparable period a year earlier. Total sales rose 1.4% to 10.22 billion euro from 10.08 billion euro last year.

A 353 million euro write-down on Slim-Fast hit operating profit as popularity of meal substitutes tends to decline. Underlying sales growth was 3.3%.

Operating margin was 12.4%. This included a reduction of 3.4 percentage points from a 353 million euro write-down of the carrying value of Slim-Fast, after the periodic review of goodwill and intangible assets at the end of June. The additional impairment charge is due to a further drop in the market size of the meal replacement category and consequently a cut sales forecast for Slim-Fast.

Gillette Co. (G: chart), the shaving supplies powerhouse that is being acquired by Procter & Gamble Co., announced Thursday that 2Q earnings rose 17% due to increasing demand for new products and cost cuts.

Income jumped to $498 million, or 49 cents per share, in the quarter ended June 30 versus $426 million, or 42 cents per share, last year.

Revenue advanced 13% to $2.77 billion versus $2.44 billion, with sales of blades and razors soaring 11% to $1.21 billion. Sales at the company's Duracell battery business climbed 18% to $539 million.

Analysts expected lower earnings of 46 cents per share on sales of $2.7 billion.

Harrah's Entertainment Inc. (HET: chart), which recently completed its $9 billion buyout of rival Caesar's Entertainment Inc., announced Thursday that its 2Q profit increased 17% as gambling climbed across the company’s chain of casinos.

Net income climbed to $105.8 million, or 84 cents per share, vs. $90.2 million, or 79 cents per share, last year. Adjusted earnings climbed to 90 cents versus 79 cents last year.

Harrah's profit missed the average analysts’ expectations of 93 cents per share.

2Q revenue amounted to $1.47 billion, up 42% from $1.04 billion a year ago and surpassing analysts' view of $1.42 billion. Caesar's casinos added $181.8 million in revenue.

At casinos open for at least a year, revenue gained 8.9%. Play tracked through the company’s Total Rewards program climbed 12.9%.

The company's shares lost 2% to $77 in pre-market trading Thusday.

Regional phone company Alltel Corp. (AT: chart) announced Thursday its 2Q profit climbed 53% as gains from a stock sale and acquisition-related items added to strong wireless revenue growth.

The company earned $402.1 million, or $1.27 per share, up vs. $262.5 million, or 85 cents per share last year. Earnings from continuing businesses, excluding the gains and debt prepayment costs, jumped 8% to $284 million, or 90 cents per share, beating estimates of analysts, who were looking for a profit of 85 cents per share.

Revenue added 11% to $2.26 billion vs. $2.04 billion, bolstered by a 16% increase in wireless sales to $1.46 billion. Wireline revenue dropped 2% to $595 million, while analysts expected total sales of $2.18 billion.

Monday Alltel completed a $6.5 billion purchase of Western Wireless Corp., giving it more than 10 million wireless customers in 34 states.

Sara Lee Corp. (SLE: chart), bakery products, packaged meats and household products maker, said Thursday it lost $148 million in 4Q on charges, higher commodity costs and a unfavourable European retail environment.

The company also announced a $2 billion share repurchase program and added it would back a dividend of 79 cents per share for fiscal 2006 and plans at least $1.5 billion in debt cut over the next two years.

4Q losses were 19 cents per share for the quarter ended July 2 vs. earnings of $354 million, or 44 cents per share, a year earlier. The latest quarter includes charges of 55 cents, and the year-ago quarter included a 53rd week of operations.