Payless ShoeSource, Inc. (PSS: chart) reported Friday that it swung to a quarterly loss, hurt by strong competition. The Topeka, Kansas-based U.S. largest shoe retailer announced a net loss of $17.2 million, or 25 cents a share, for the fourth quarter of fiscal 2003, in contrast to a net profit of $5.1 million, or 7 cents a share, in the corresponding period a year earlier. Excluding a one-time benefit related to smaller-than-expected restructuring expenses in 2001, the company posted a loss of 27 cents a share. Results beat analysts’ projections for a loss of 32 cents a share, on average. Payless said sales eased 0.9% to $644.4 million, in the quarter ended January 31, from $650.5 million a year ago. The company cited price pressure by competitors as main factor for the drop. Same-store sales were down 1% in the quarter. For all of 2003, Payless said it had a loss of $100,000, or less than a penny a share, compared with net income of $105.8 million, or $1.56 a share, a year ago. Sales slipped 3.5% to $2.78 billion from $2.88 billion, in fiscal 2002.

Payless shares surged 8.01% to $13.35 at market close Friday.

State Farm Insurance Companies of Bloomington, Illinois, posted Friday a profit for its fiscal 2003 full year, reversing from a prior-year loss, boosted by higher premiums and lower claims. The U.S No.1 auto and home insurer turned in earnings of $2.8 billion, for the year, compared with a net loss of $2.8 billion, last year. State Farm recorded total revenue of $56.1 billion in 2003, a 13% improvement from $49.7 billion, in fiscal 2002.

Integra LifeSciences Holdings Corporation (IART: chart) announced before the bell Friday that its quarterly earnings dipped from a year ago, when results included a $20.4 million tax benefit. The Plainsboro, New Jersey-based medical technology company said it earned $9.2 million, or 30 cents a share, in its fourth quarter, compared with net income of $25.4 million, or 83 cents a share, in the same period last year. Results topped by a penny the mean estimate of analysts. Quarterly revenue rocketed up 67% to $59.0 million, due to higher product and instruments sales.

Company shares plunged 4.46% on Friday to $31.71. The stock shed 31 cents to $31.40 in after-hours trading.

Four Seasons Hotels Inc. (FS: chart) reported before market open Friday fourth-quarter earnings of C$11.7 million ($8.7 million), or 32 Canadian cents a share, a 53% rise from a year-earlier profit of C$7.6 million, or 22 Canadian cents a share. The Toronto, Canada-based luxury hotel operator attributed the results to improving business travel demand. Revenue was C$75.2 in the quarter, compared with C$76.9 a year ago.

The stock slid 3.05% to close Friday at $54.00.

Fresh Brands, Inc. (FRSH: chart) of Sheboygan, Wisconsin, said Friday that it swung to a quarterly loss, weighed down by restructuring charges. The supermarket retailer posted a net loss of $4.7 million, or 96 cents a share, for its fourth quarter. This compares to a year-ago profit of $2.8 million, or 54 cents a share. Fresh Brands said fourth-quarter sales increased 13% to $165.5 million, from $146.2 million last year.

Company shares dived 16.67% on Friday to $9.25. The stock recovered 5 cents to $9.30 in after-market trade.

Stillwater Mining Company (SWC: chart) posted Friday a wider fourth-quarter net loss of $308.9 million, or $3.44 a share, compared with a net loss of $600,000, or a penny a share, in the comparable period of fiscal 2002. The Columbus, Montana-based producer of palladium and platinum said results were hurt by an asset impairment charge and low palladium prices. Excluding items, earnings came in at 4 cents a share, falling a penny short of the average analysts’ estimate.

The stock closed Friday down 55 cents, or 4.33%, at $12.14.

Piedmont Natural Gas Company, Inc. (PNY: chart) of Charlotte, North Carolina, announced Friday a 29% rise in its quarterly earnings, helped by its acquisition of North Carolina Natural Gas and one-time items. The energy services company rolled out net income of $74.6 million, or $2.18 a share, for its first quarter, in contrast to $58 million, or $1.74 a share, generated in the 2003 equivalent. For the quarter ended January 31, revenue jumped 25% to $618.8 million, from $493.5 million a year ago.

Piedmont shares gained 69 cents on Friday to $41.75.

Titan International, Inc. (TWI: chart) said Friday it narrowed its fiscal fourth-quarter loss to $9.2 million, or 44 cents a share, boosted by surge in orders. Sales rose to $120.5 million in the quarter. For the same period a year earlier, the Quincy, Illinois-based wheel and tire maker had a loss of $15.7 million, or 76 cents a share, on sales of $108.6 million.

The stock was catapulted up 20.16% to close Friday at $5.90.

LoJack Corporation (LOJN: chart) of Westwood, Massachusetts, reported Friday higher quarterly earnings, on the back of strong sales. The company, which makes wireless security and location products, turned in net income of $2.5 million, or 16 cents a share, for its fourth quarter, compared with net income of $904,000, or 6 cents a share, in the fourth quarter of fiscal 2002. Results were a penny a share ahead of the consensus estimate of analysts.

LoJack shares shed 55 cents on Friday to $7.95.

Cummins, Inc. (CMI: chart) repeated Friday that it expects its first-quarter profit to be at the high end of its 40 cents to 50 cents a share range. Analysts currently expect the Columbus, Indiana-based manufacturer of diesel engines to earn 44 cents per share, on average. For all of 2004, Cummins said it sees earnings of $3.20 to $3.40 per share.

The stock dipped 1.40% to $49.40 at market close Friday.