ChevronTexaco Corporation (CVX: chart) said before market open Friday its third-quarter profit reversed a year-ago loss on the back of higher energy prices and better refining margins. The second largest U.S. oil company posted net earnings of $1.98 billion, or $2.02 per share, for the quarter ended September 30, compared to a loss of $904 million, or 85 cents per share, in the same quarter a year earlier. Excluding an accounting benefit related to its investment in Houston energy merchant Dynegy Inc., the profit of San Ramon, California-based ChevronTexaco was $1.86 per share, above analysts’ forecasts of $1.62 per share. Third-quarter revenue rose 22% to $31.0 billion from $25.4 billion a year ago. ChevronTexaco said its fiscal 2003 third-quarter income was the largest since the $39 billion merger that formed company two years ago.

The stock closed Friday at $74.30, up $2.54, or 3.54%. Company shares shed 3 cents to $74.27 in after-hours trading.

MTC Technologies, Inc. (MTCT: chart) said Friday its third-quarter profit jumped 40% to $3.3 million, or 25 cents a share, from $2.4 million, or 18 cents a share, a year ago, topping analysts’ earnings projections by a penny. The Dayton, Ohio-based provider of information technology services said third-quarter sales soared almost 63% to $50.4 million from $30.9 million, a year ago. The company said results were due to organic growth and acquisitions.

Company shares surged 8.48% to close Friday at $29.29.

CIGNA Corporation (CI: chart) of Philadelphia, Pennsylvania, said before market open Friday it swung to a third-quarter net profit of $195 million, or $1.39 per share, from a net loss of $877 million, or $6.27 per share, a year ago. The health insurer attributed the results to the strength in its disability and life insurance units. Excluding items, earnings came in at $204 million, or $1.45 a share, flat from a year ago, and ahead of analysts’ expectations for profit of $1.17 a share.

CIGNA shares rocketed up $9.08, or 18.93%, to $57.05 on Friday.

Anadarko Petroleum Corporation (APC: chart) reported Friday net income of $274 million, or $1.09 a share, for its fiscal third quarter, a 45% increase from the year-ago profit of $189 million, or 74 cents a share. The Woodlands, Texas-based independent oil and gas company said it benefited from strong gas sales and rising oil and natural-gas prices. Revenue climbed 43% to $1.34 billion from $938 million, in the prior year.

The stock closed Friday up 77 cents, or 1.80%, at $43.62.

Peoples Energy Corporation (PGL: chart), the Chicago, Illinois-based energy company, posted Friday fourth-quarter net earnings of $1.4 million, or 4 cents a share, down from $1.7 million, or 5 cents a share, in the same period a year earlier, but 2 cents above the average analysts’ estimate. The company cited lower power generation income and higher corporate expenses as main factors for the drop in profit.

Company shares added 37 cents to close Friday at $40.45.

Andrew Corporation (ANDW: chart) reported Friday a narrowed net loss of $1.2 million, or 1 cent per share, for its fiscal 2003 fourth quarter, compared with a loss of $47 million, or 48 cents a share, a year ago. The Orland Park, Illinois-based communications equipment maker said stabilizing demand in the telecom market boosted the results. Excluding special items, profit was 10 cents a share. Analysts had called for earnings of 5 cents a share, before items.

The stock rose 3.21% on Friday to $13.18. Company shares dropped 6 cents to $13.12 in after-market trade.

Archer Daniels Midland Co. (ADM: chart) of Decatur, Illinois, said Friday its fiscal 2004 first-quarter profit leapt 36%, boosted by gains from cocoa and lysine processing as well as from private equity investments. The agribusiness giant announced net earnings of $150.2 million, or 23 cents per share, in contrast to $108.1 million, or 17 cents per share, generated a year ago. Analysts had expected profit of 19 cents a share.

ADM shares soared 5.75% to close Friday at $14.35. The stock slipped 0.14% to $14.33 in after-hours trading.

Frontier Airlines, Inc. (FRNT: chart) said Friday it earned $2 million, or 6 cents per share, on revenue of $165.8 million, for its second quarter ended September 30. For the 2002 equivalent, the Denver, Colorado-based carrier posted a loss of $3.1 million, or 10 cents per share, on revenue of $119.4 million. The company said results were due to busier summer travel season.

Frontier shares plunged 5.69% on Friday to $16.08. The stock was dropped a penny to $16.07 in after-hours trading.

Ligand Pharmaceuticals Inc. (LGND: chart) posted Friday a wider third-quarter loss of $11.1 million, or 16 cents a share, against a loss of $7 million, or 10 cents a share, a year ago. Analysts had expected a loss of 9 cents a share. The San Diego, California-based drug-developer cited timing of milestones and a Royalty Pharma option exercise as main factors for the wider loss. Third-quarter revenue climbed to $31.3 million from $25.3 million last year.

The stock closed Friday at $13.78, up 49 cents, or 3.69%.

California Amplifier, Inc. (CAMP: chart), the manufacturer of microwave amplification and conversion components, raised its quarterly guidance on strong demand for its products. The Camarillo, California-based company now expects to post third-quarter earnings of 13 cents to 17 cents per share, on revenue of $41 million to $44 million, up from the company’s previous forecast for profit of 7 cents to 12 cents per share, on revenue of $30 million to $36 million.

Company shares rocketed up 42.65% to close Friday at $9.90. The stock inched down a penny to $9.89 in after-market trade.