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Earnings Analysis: 
Valero Energy Profit Falls 17%
Author: 123jump.com Staff
123jump.com
Last Update: 1:00 PM EST February 01 2007



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8x8 reported a third-quarter net loss due to aggressive discounting and promotions, as well as $428,000 of employee stock-based compensation expense. Rofin-Sinar Technologies first-quarter profit rose slightly on an increase in revenue. I2 Technologies fourth-quarter profit tumbled 80% on higher costs and a drop in revenue. Snap-On fourth-quarter profit rose 39% on a jump in revenue across all segments. Valero Energy profit fell 17% on lower revenue and reduced refining margins.

 
8x8 Inc. (EGHT: chart), Internet-based telephony product provider, posted a third-quarter net loss of $3.06 million, or 5 cents per share, versus a net loss of $6.79 million, or 12 cents per share, for the same period last year. Excluding stock-based compensation, the company posted a loss of 4 cents per share. Revenue climbed to $13.2 million compared with $8.48 million in the third quarter a year earlier.

Rofin-Sinar Technologies Inc. (RSTI: chart), industrial lasers maker, said that its first-quarter net earnings increased slightly to $11.49 million, or 75 cents per share, compared with $11.36 million, or 75 cents per share, last year. Revenue climbed to $111.7 million against $95.4 million.

I2 Technologies Inc. (ITWO: chart), develops supply chain management software, reported fourth-quarter net earnings applicable to common stockholders of $14.3 million, or 54 cents per share, down from $69.4 million, or $2.69 per share, in the year-ago period. Revenue declined to $79.6 million compared to $96.6 million in the same period a year ago.

Snap-On Inc. (SNA: chart), professional tool and equipment maker, said that its fourth-quarter net income increased to $38 million, or 64 cents per share, compared with $27.4 million, or 47 cents per share, in the year-ago period. Profit in the most recent quarter included 5 cents per share from lower income tax expense. Revenue climbed 16% to $656 million from $563.4 million in the year-ago period, helped by its November acquisition of ProQuest Business Solutions.

Valero Energy Corp. (VLO: chart), independent oil refiner, said that its fourth-quarter earnings declined to $1.11 billion, or $1.80 per share, compared with a year-ago profit of $1.35 billion, or $2.06 per share. The latest results include a pre-tax gain of $196 million, or 21 cent per share, related to an asset sale. Excluding items, the company earned $987 million, or $1.59 per share, in the latest quarter. Operating revenue decreased to $19.79 billion versus $25.89 billion in the same period a year earlier.
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