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Earnings Analysis: 
Loews Consolidated Earnings Jump
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:43 AM EDT August 01 2006



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Loews Corp., commercial property and casualty insurance company, reported that Q2 net income on a per share basis, attributable to Loews'' common stock of 85 cents a share, beating analyst estimate for earnings of 79 cents a share. Consolidated Q2 earnings were $568.7 million, up from a equivalent profit of $435.6 million a year-ago.

 
Loews Corp, (LTR: chart), said that the consolidated results include the results of Loews Group and Carolina Group, a tracking stock, that primarily consists of the company''s Lorillard tobacco unit. Carolina Group''s total net income for Q2, including the profit attributable to its intergroup interest with Loews, was $187.2 million, up from $142.1 million a year ago.

Pinnacle Entertainment Inc., (PNK: chart), entertainment company, said it swung to a Q2 profit, helped by strong results at Boomtown New Orleans. For Q2, it reported a net profit of 93 cents a share, up from 10 cents a share in the year-ago period. Revenue rose to $228.8 million from $151.5 million. The company beat analyst estimate for earnings of 31 cents a share.

International Paper Co, (IP: chart), paper and packaging company, reported its Q2 net income rose to 24 cents a share, from 16 cents a share in the year-earlier period. Sales at company rose 7% in Q2 to $6.27 billion from $5.86 billion. IP announced it recorded earnings from operations before special items of 41 cents a share in Q2. The company missed analysts’ forecasts for earnings of 33 cents a share.

Electronic Data Systems Corp, (EDS: chart), provider of information technology services, reported Q2 earnings of 20 cents a share, up from a profit of 5 cents a share a year-ago. On a pro forma basis, the company posted a profit of 20 cents a share. The pro forma results exclude an after-tax loss of $5 million from discontinued operations and a pre-tax reversal of $4 million in previously recognized restructuring costs but include the impact of stock option expensing. Revenue advanced 3.9% in Q2 to $5.19 billion from $5 billion in the same period a year earlier. The company beat analysts’ estimate for a profit of 16 cents a share.

Global Imaging Systems, (GISX: chart), technology solutions company, reported Q1 net income advanced 6.6% to 61 cents a share, from 58 cents a share in the year-ago period on revenue growth to $195.7 million from $182.5 million. The company missed analysts’ forecast earnings by a penny. For Q2, the company sees split-adjusted earnings of 32 to 34 cents a share.
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