A.G. Edwards Inc.'s (AGE: chart) net income climbed to $55 million, or 71 cents per share, versus $46 million, or 57 cents per share, a year earlier. Overall revenue slid slightly to $653 million versus $666 million.

The Financial-services holding firm was required to recognize a one-time gain of $2.8 million, or 3 cents per share, in the latest three-month period. The recent quarter also includes a gain of $1.2 million, or 2 cents per share, from the resolution of certain tax matters.

Commission revenue declined 12%, or $33 million, versus a year ago, mainly due to less activity in equities and mutual funds. Asset-management and service-fee revenue grew to a new quarterly record.

Revenue from principal transactions slid 26%, or $18 million, versus a year earlier on a lower volume of fixed-income transactions as interest rates increase.

Azz Inc. (AZZ: chart), electrical products maker, said first-quarter net income advanced to $2.1 million, or 38 cents a share versus $1.2 million, or 23 cents a share last year. Revenues climbed 13% to $44.7 million versus $39.7 million. Azz boosted its outlook for fiscal 2006 earnings to be within the range of $1.08 to $1.18 a share and revenues within the range of $170 million to $180 million.

A.O. Smith Corp. (AOS: chart) Friday reported higher-than-expected wholesale inventories of water heaters, blaming its 2005 earnings. The company cut its 2005 earnings outlook to $1.60-$1.80 a share, below the analysts' forecast of $1.89 a share. The company sees second-quarter earnings of 45-50 cents a share, lower that the Wall Street forecast of 55 cents a share.

Rite Aid Corp. (RAD: chart), the nation's third-largest drugstore chain, said Thursday that its first-quarter earnings and revenue dropped on higher store-closing costs and lower sales. The company also slashed its expectations for fiscal 2006.

Net income after paying about $8 million in preferred dividends dropped to $25.2 million, or 5 cents per share, versus $58.3 million, or 10 cents per share, a year earlier.

Revenue slightly declined to $4.22 billion versus $4.24 billion a year earlier. Same-store sales at stores open at least one year slid 0.3%. Analysts expected profit of 2 cents per share on sales of $4.26 billion in the latest three-month period.

Rite Aid again lowered its sales forecast, estimating revenue for fiscal 2006 to be break-even to 5 cents per share on sales of $17.1 billion to $17.4 billion. Earlier the company had forecasted 2006 earnings of 2 cents to 7 cents per share on sales of $17.3 billion to $17.7 billion. Analysts are expecting earnings of 6 cents per share on sales of $17.36 billion.