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Earnings Analysis: 
Wells Fargo, Boeing, Conoco Report Losses
Author: Trupti Mehta
123jump.com
Last Update: 1:14 PM ET January 28 2009


 
10:00AM New York - AT&T Inc operating revenue rose 2.4% and net income fell 23.3%. ConocoPhillips revenue fell 18% and net loss was $31.8 billion. Legg Mason, Inc revenue fell 39% and net loss was $1.5 billion.

Advantest Corporation, a maker of testing equipment reported third quarter operating sales fell 58% to ¥14.6 billion. Net loss in the quarter was ¥7.8 billion compared to net income of ¥3 billion a year ago.

Advantest Corporation (ATE) in the last one year traded as high as ¥29.84 in April 2008 and as low as ¥10.64 in November 2008. Based on the yesterday''s closing price of ¥14.16 the company has market cap of ¥2.41 billion.

AT&T Inc, a provider of telecommunications services reported fourth quarter operating revenues rose 2.4% to $31.1 billion from $30.35 billion a year ago. Net income in the quarter fell 23.3% to $2.40 billion or 41 cents per diluted share compared to net income of $3.14 billion or 51 cents per share a year ago.

Operating revenues for the fiscal year 2008 rose 4.3% to $124.0 billion from $118.9 billion a year ago. Net income for the year rose 7.5% to $12.9 billion or $2.16 per diluted share compared to net income of $11.95 billion or $1.94 per share a year ago.

AT&T Inc (T) in the last one year traded as high as $40.70 in May 2008 and as low as $20.90 in October 2008. Based on the yesterday''s closing price of $25.93 the company has market cap of $152.81 billion.

Canon Inc, the world''s largest digital camera maker reported fourth quarter revenues fell 21% to ¥994.7 billion from ¥1,263.8 billion a year ago. Net income in the quarter fell 90% to ¥11.6 billion compared to net income of ¥127.8 million a year ago.

Net sales for the fiscal year 2008 fell 8.6% to ¥4,094.2 billion from ¥4,481.3 billion a year ago. Net income for the year fell 37% to ¥309.1 billion or ¥246.20 per diluted share compared to net income of ¥488.3 billion or ¥377.53 per share a year ago.

Canon Inc (CAJ) in the last one year traded as high as ¥66.05 in May 2008 and as low as ¥24.04 in October 2008. Based on the yesterday''s closing price of ¥28.84 the company has market cap of ¥36.00 billion.

ConocoPhillips, the third largest U.S. oil company reported fourth quarter revenues fell 15.5% to $44.5 billion from $52.7 billion a year ago. Net loss in the quarter was $31.8 billion or $21.37 per diluted share compared to net income of $4.4 billion or $2.71 per share a year ago.

Net revenues for the fiscal year 2008 rose 28.5% to $240.8 billion from $187.4 billion a year ago. Net loss for the year rose 43% to $17 billion or $11.16 per diluted share compared to net income of $11.9 billion or $7.22 per share a year ago.

The oil exploration and production company took one time charge of $25.44 billion in goodwill impairment in exploration and production segment and $7.4 billion in impairment in of the book value of its investment in OAO LUKOIL Oil Company in Russia.

ConocoPhillips (COP) in the last one year traded as high as $95.96 in June 2008 and as low as $41.27 in November 2008. Based on the yesterday''s closing price of $49.51 the company has market cap of $73.81 billion.

Legg Mason, Inc, a global asset management company reported third quarter revenues fell 39% to $720.0 million from $1.2 billion a year ago. Net loss in the quarter was $1.5 billion or $10.55 per diluted share compared to net income of $154.6 million or $1.07 per share a year ago.

Legg Mason, Inc (LM) in the last one year traded as high as $74.65 in February 2008 and as low as $11.09 in November 2008. Based on the yesterday''s closing price of $19.44 the company has market cap of $2.73 billion.

Praxair, Inc, industrial gas maker reported fourth quarter revenues fell 5% to $2.40 billion from $2.52 billion a year ago. Net income in the quarter fell 37% to $200 million or 64 cents per diluted share compared to net income of $316 million or 98 cents per share a year ago.

Net revenues for the fiscal year 2008 rose 15% to $10.8 billion from $9.4 billion a year ago. Net income for the year rose 3% to $1.21 billion or $3.80 per diluted share compared to net income of $1.18 billion or $3.62 per share a year ago.

Praxair, Inc (PX) in the last one year traded as high as $99.74 in June 2008 and as low as $47.40 in November 2008. Based on the yesterday''s closing price of $59.36 the company has market cap of $18.31 billion.

Rollins, Inc, a consumer and commercial services company reported fourth quarter revenues rose 14.9% to $248.1 million from $216 million a year ago. Net income in the quarter rose 5.2% to $12.6 million or 13 cents per diluted share compared to net income of $11.9 million or 12 cents per share a year ago.

Net revenues for the fiscal year 2008 rose 14% to $1.0 billion from $894.9 million a year ago. Net income for the year rose 6.5% to $68.9 million or 69 cents per diluted share compared to net income of $64.7 billion or 64 cents per share a year ago.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

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