Xerox Corp, (XRX: chart), said negative foreign currency factors contributed to the decline on revenue, which otherwise would have come flat against the year-earlier period. Xerox missed analyst estimate by a penny. The company expects Q2 earnings in the range of 22 cents to 24 cents a share, which includes a 1 cent per share charge related to its recent termination of its 2003 credit facility.

Novartis AG, ((NVS), pharmaceutical company, reported Q1 net income advanced 32% to $1.96 billion on 13% revenue growth. Pharmaceutical sales went up 5% on anti-hypertension medicines Diovan and Lotrel and its Gleevec/Glivec leukemia drug, and at generics unit Sandoz, sales advanced 78% on the acquisition of Hexal and Eon Labs. Analysts were beaten, expecting earnings between $1.51 billion and $1.81 billion. Novartis is set for high single-digit net sales growth excluding the Chiron acquisition for 2006 in local currencies, with a record level of operating and net profit.

Caterpillar Inc, (CAT: chart), machinery maker, reported that Q1 net income advanced to $1.20 a share, from 81 cents a share in the year-ago period. Sales in Q1 grew to $9.39 billion from $8.34 billion. The company beat analysts’ forecasts for earnings of $1.05 a share. Caterpillar raised its 2006 profit guidance to $4.85 to $5.20 a share, up from a previous outlook of $4.65 to $5 a share.

Rohm and Haas, (ROH: chart), specialty materials firm, reported that Q1 net income advanced 30% to 93 cents a share owing to 3% revenue growth. The company added that a favorable product mix and higher selling prices offset higher raw material and energy costs. The company expects 2006 earnings between $3.15 and $3.30 a share on revenue growth of 3% to 5%. Rohm and Haas beat analysts’ forecasts for earnings of 90 cents a share for Q1.

Check Point Software Technologies, (CHKP: chart), Internet security company, reported that Q1 net income dropped 16% to 25 cents a share due to 3% revenue decline. If not for equity based compensation expenses and acquisition related charges, the company would have earned 31 cents a share. The company missed analysts’ expectations for earnings of 31 cents a share.

Arkansas Best, (ABFS: chart), a transportation holding company, reported Q1 net income dropped 42% to 24 cents a share, from 41 cents a share a year ago. If not for an after-tax accounting charge of 20 cents a share the company would have reported 4 cents a share in Q1. Revenue soared to $450.6 million, a per day rise of 8%, the company added.

B/E Aerospace, (BEAV: chart), aircraft interior maker, reported that Q1 more than tripled to $13.8 million, or 18 cents a share, from $4.1 million, or 7 cents a share in the year-earlier period. The company raised its 2006 earnings outlook and said it expects earnings of $1.17 a share, vs. earlier guidance of $1.12, adding that stronger-than-expected bookings and robust industry conditions have boosted its confidence for 2007 and 2008. The company beat analyst estimate for earnings of 16 cents a share.

Ethan Allen Interiors, (ETH: chart), furniture seller, reported Q3 earnings of 59 cents a share, up from 50 cents a share in the year-ago period on revenue growth, beating analysts’ expectations for earnings of 56 cents a share. Same-store sales advanced 15%.

Kimberly-Clark Corp, (KMB: chart), household products company, reported that its Q1 net income dropped to 60 cents a share, from 93 cents a share in the year-earlier period. If not for items, earnings in Q1 were 93 cents a share. Sales at company grew 4.2%. Excluding items Kimberly-Clark topped analysts’ views by a penny.

Watsco Inc, (WSO: chart), distributor of air conditioning and heating products, reported Q1 earnings of 47 cents a share, up from a profit of 33 cents a share a year-ago on 14% revenue growth, topping analyst estimate for a profit of 43 cents a share in Q1.

Carpenter Technology, (CRS: chart), specialty metals producer, reported Q1 net income advanced 72% to $2.32 a share, from $1.38 a share in the year-earlier period. Sales advanced to $426 million from $342.1 million. The company beat analysts’ forecasts for earnings of $1.82 a share.

Weatherford International, (WFT: chart), mechanical solutions company, reported Q1 earnings of 57 cents a share, up from 27 cents a share in the year-ago period. Revenue advanced to $1.54 billion from last year''s $857.7 million. The company topped analysts’ expectations for earnings of 51 cents a share.