Micron Technology, Inc. (MU: chart) announced Wednesday that it swung to a quarterly profit from a year-earlier loss, citing higher selling prices and strong demand as principal contributors for the turnaround. The Boise, Idaho-based world's second-largest memory chip maker posted net earnings of $90.9 million, or 13 cents per share, for the third quarter of fiscal 2004, reversing from a prior-year loss of $214.9 million, or 36 cents per share. The results blasted past analysts’ expectations for a profit of 7 cents per share, on average. For the quarter ended June 3, sales surged to $1.12 billion from $732.7 million, in the 2003 equivalent. Micron said that average selling prices for memory products in the third quarter of 2004 were about 45% higher than the third quarter last year. For the first nine months of 2004, the company posted a net profit of $63.7 million, or 10 cents a share, in contrast to a loss of $1.1 billion, or $1.90 a share, for the same period a year ago.

Micron shares gained 60 cents on Wednesday to $14.46. The stock dipped 2.97% to $14.03 in after-hours trading.

Bed Bath & Beyond Inc. (BBBY: chart) posted after the bell Wednesday a 43% jump in its quarterly earnings, aided by improved cost management, new-store openings and higher same-store sales. The Union, New Jersey-based U.S. top domestics retailer announced net income of $82.0 million, or 27 cents per share, for its fiscal first quarter, up from net income of $57.5 million, or 19 cents per share, in the same quarter a year ago. The earnings were 2 cents a share ahead of the mean estimate of analysts. Net sales were up 23% to $1.1 billion in the quarter, from $894 million a year earlier. Same-store sales climbed 5.1%.

The stock rose 1.54% to close Wednesday at $37.63. Company shares shed $1.15 to $36.48 in after-market trade.

FedEx Corporation (FDX: chart) of Memphis, Tennessee, on Wednesday turned in a net profit of $412 million, or $1.36 a share, for its fourth quarter of fiscal 2004, a 47% increase from $280 million, or 92 cents a share, generated a year earlier. The world’s leading express transport company attributed the results to strong demand for its services. Excluding items, earnings came to $1.33 per share, matching the average analysts’ forecast.

FedEx shares closed Wednesday up $1.62, or 2.07%, at $80.05.

Sobeys Inc. ((SBY.TO)) said Wednesday that its fourth-quarter earnings eased to C$38.4 million ($28 million), or 58 Canadian cents a share, from earnings of C$40.7 million, or 62 Canadian cents a share, in the 2003 comparable quarter. The Stellarton, Nova Scotia-based Canada's No. 2 supermarket chain blamed severe competition for the profit drop. Quarterly sales rose to C$2.8 billion from C$2.57 billion.

The stock dropped 48 Canadian cents to close Wednesday at C$29.25 on the Toronto Stock Exchange.

OmniVision Technologies, Inc. (OVTI: chart) of Sunnyvale, California, reported Wednesday quarterly earnings that more than tripled from last year, on surging camera phone sales. The company, which designs image sensors for use in digital cameras, announced a fourth-quarter profit of $20.8 million, or 34 cents per share, compared with a profit of $6.1 million, or 12 cents per share, in the 2003 corresponding period. Revenue in the quarter more than doubled to $99.7 million from $39.9 million. Wall Street’s estimates were for a profit of 32 cents per share and revenue of $101.6 million.

OmniVision shares edged up 56 cents to $16.06 at market close Wednesday. The stock rocketed up 13.33% to $18.20 in the extended session.

Worthington Industries, Inc. (WOR: chart) posted Wednesday fourth-quarter income of $39.4 million, or 45 cents per share, in contrast to income of $15.6 million, or 18 cents per share, in the fourth quarter of fiscal 2003. Excluding items, the Columbus, Ohio-based steel processor reported earnings of 84 cents per share in the quarter, surpassing analysts’ projections of 76 cents per share. Quarterly sales jumped 33% to $782.9 million. Worthington cited higher steel prices as main factor for the results.

The stock shed 19 cents on Wednesday to $20.25.

Cognos Incorporated (COGN: chart), the Ottawa, Canada-based developer of business intelligence software, announced Wednesday a huge rise in its quarterly profits, boosted by strong demand for its products. The company rolled out earnings of $20.1 million, or 22 cents a share, for its first quarter, up 62% from earnings of $12.4 million, or 14 cents a share, a year ago. The consensus analysts’ estimate was for a profit of 20 cents a share. Revenue in the quarter advanced to $173.6 million from $150.6 million, last year.

Cognos shares were up 1.91% to $33.01 at market close Wednesday. The stock added 44 cents to $33.45 in after-hours trading.

Herman Miller, Inc. (MLHR: chart) of Zeeland, Michigan, announced Wednesday a fourth-quarter net profit of $19.3 million, or 27 cents a share, rebounding from a year-earlier net loss of $1.3 million, or 2 cents a share. The office furniture maker recorded sales of $353.8 million in the quarter, a 10% increase from last year. The company said improved demand and a one-time gain helped boost its results.

The stock closed Wednesday at $27.29, up 16 cents, or 0.59%. Company shares lost 30 cents to $26.99 in the extended trade.

Matrix Service Company (MTRX: chart) reduced Wednesday its earnings guidance for the 2004 fiscal year, on cost overruns and project delays. The Tulsa, Oklahoma-based industrial services company lowered its 2004 profit estimate to a range of 52 cents to 62 cents a share, from an earlier outlook of 75 cents to 82 cents a share. For its fourth quarter, Matrix expects to break even or earn up to 10 cents a share.

Matrix shares fell 14 cents to close Wednesday at $11.91. The stock plummeted 8.90% to $10.85 in after-hours trading.

The McClatchy Company (MNI: chart) of Sacramento, California, said Wednesday that it sees earnings, excluding items, of 87 cents to 88 cents per share in its fiscal second quarter. The newspaper publisher had previously forecast earnings of 85 to 87 cents per share in the quarter. The company said strength in advertising helped boost its outlook.

The stock gained 31 cents to $69.51 at market close Wednesday.