UMC's (UMC: chart) net profit in the three-month period ended June 30 plunged to 299 million New Taiwan dollars ($9.4 million) vs. NT$12.7 billion last year, beating analysts’ projections of NT$15.2 million. The company’s management announced they forecast the business to recover during the third and fourth quarters, as demand for cell phones in the second half of the year is expected to be stronger than in the first half.

UMC's rival, Taiwan Semiconductor Manufacturing Co. (TSM: chart) Tuesday said its 2Q net profit had declined 22% to NT$18.37 billion.

UMC's shares lost 3.2% to NT$22.50.

European Aeronautic Defence & Space Co. NV, which owns 80% of leading airplane maker Airbus, Wednesday posted a 47% jump in net profit due to higher Airbus deliveries, and also boosted its per-share earnings guidance for the full year.

Net profit advanced to 488 million euro ($586.4 million) in the second quarter, versus 332 million euro last year. Earnings before interest, and taxes, or Ebit, before goodwill impairment and exceptional items added 13% to 883 million euro. Sales climbed 5.6% to 9.02 billion euro, up versus 8.54 billion euro.

EADS backed its outlook that Ebit before goodwill and exceptional items will surpass 2.6 billion euro in 2005 versus 2.44 billion euro last year. Sales are still seen at 33 billion euro vs. 31.76 billion euro last year, with Airbus plane deliveries targeted above 360 versus to 320 in 2004.

EADS boosted its earnings-per-share outlook for 2005 to 1.5 euro a share vs. an earlier guidance for 1.36 euro a share, citing a better-than-expected financial result due to higher cash levels. However, the final EPS level still depends on the year-end U.S. dollar exchange rate.

The shares of Puma AG, a sportswear maker, soared 3.2% after lifting its sales full-year outlook to up to 10% versus an earlier forecast of mid-to-high single digit growth. Puma also expects net earnings to come in between 264 million and 274 million euro. Second-quarter earnings after minorities advanced 12.6% to 58.9 million euro. Sales for the most recent quarter jumped 12.3% to 395.5 million euro. Puma also announced the formation of joint ventures in Japan, Hong Kong and China, Taiwan and set up wholly-owned subsidiaries in India and Dubai.

B/E Aerospace Inc. (BEAV: chart), an aircraft interior products maker, announced it swung to a 2Q profit of $8.4 million, or 14 cents a share, with revenue advancing 12% to $207.6 million. The company forecasts full-year 2005 earnings of 50 cents a share on more than $800 million in revenue, and 2006 earnings of $1 to $1.10 a share on revenue of more than $900 million. Analysts had projected second-quarter earnings per share of 12 cents a share, 2005 earnings per share of 51 cents, and 2006 earnings per share of $1.07.

United Business Media (UBM: chart), the owner of CMP publications and PR Newswire, announced that first-half pre-tax profit before amortization of intangible assets, non-recurring items and including discontinued operations climbed 30.1% to 81.3 million pounds, beating analyst estimates around 65 million pounds, with revenue adding 19.7% to 336.6 million pounds. UBM is also working on the sale of its U.K. auto titles as part of its strategy to concentrate on news distribution and specialist information services.

Prudential PLC (PUK: chart), a UK insurer, announced that first-half profit from continuing operations surged 31% to 834 million pounds. Operating profit and sales beat analysts’ estimates. In the U.S., sales jumped 18% and margins grew to 37% versus 34% on variable annuities and guaranteed investment contracts. In Asia, sales rose 26%, though margins declined to 49% vs. 54% last year due to changes in country and product mix. The company said it'll pay a dividend of 5.3p a share versus 5.19p last year.

BG Group PLC (BRG: chart), a natural gas company, said 2Q earnings climbed 43% to 275 million pounds, with revenue up 18% to 1.13 billion pounds. The company said higher E&P volumes and prices, combined with a strong performance from the company’s transmission and distribution sector were offset by the hard liquid natural gas supply conditions and the weaker U.S. currency.

Renault posted a 52% increase in first half net profit to 2.21 billion euro, bolstered by a jump in average interest-earnings loans outstanding, a transfer of 450 million euros in pension liabilities to the Japanese government by minority-held Nissan and a 3.8% revenue increase to 21.32 billion euro. Renault backed its 2005 guidance of operating margin higher than 4% of revenue, market share in Western Europe flat with to 2004's, and continuous sales growth outside Western Europe. First half operating margin to revenue was 4.4%, slightly short of projections around 4.5%-4.7%.

Sanyo Electric Co. (SANYY: chart), Japanese electronics maker, posted a 1Q net loss of 26.2 billion yen, or $234 million, Wednesday on falling sales of digital cameras and mobile phones. The 2Q results contrast with a profit of 2.33 billion yen, or $20.8 million, the comparable period a year earlier. The company announced it is carrying out massive revival efforts to cut jobs, in an attempt to steer away from losses last year due to falling prices and damage from an earthquake. Sales went down 8.6% to 569 billion yen ($5.08 billion) in 1Q, against 662.4 billion yen ($5.19 billion) the same quarter last year, on poor showings for consumer electronics and components such as rechargeable batteries and semiconductors. Sales at home, which are 47% of overall revenue in 1Q, dropped 15%, while overseas sales slipped 1.8%. The company's forecast remains unaltered for the current fiscal year to March 2006. The expectations are of a net loss of 92 billion yen on sales of 2.49 trillion yen, nearly flat from the year-ago period. Sanyo shares, slid another 0.4 percent to finish on the Tokyo Stock Exchange at 283 yen briefly after earnings were posted.