The Stamford, Connecticut-based Xerox Corp. (XRX: chart) said net income available to common shareholders totaled $408 million, versus $187 million last year. Excluding payments of preferred stock dividends, earnings jumped to $423 million, or 40 cents a share, versus $208 million, or 21 cents per share. Results benefited from a 33-cent-per-share gain from a IRS tax settlement, overshadowed by restructuring costs of 13 cents per share.

The quarterly profit was 20 cents a share, excluding the tax gain and other one-time items, while analysts had forecasted 23 cents on revenue of $3.68 billion. Revenue advanced to $3.92 billion versus $3.85 billion a year earlier, due to higher equipment sales and favorable exchange rates.

Equipment sales increased 4%, while sales of color products jumped 17%.

Second-quarter gross margins fell short of expectations at 39% percent of profits on a shift toward lower-margin desktop office products along with light production and color systems.

The company had also announced a new restructuring plan that will cut jobs globally and result in a charge of about $200 million.

The maker of construction and agricultural equipment Gehl Co. (GEHL: chart) on Monday said 2Q net income climbed 44% to $5.6 million, or 80 cents a share, up versus $3.9 million, or 69 cents a share, a year ago. Revenue jumped 45% to $138.2 million. Latest quarter results were hit by a one-time warranty charge of $1.5 million, or 21 cents a share, much of which the company expects to recover from its suppliers. The company was estimated to earn 96 cents a share with revenue of $131 million. The company set plans for a 3-for-2 stock split on Aug. 24 and backed its 2005 earnings target of $2.70-42.80 a share. Shares gained 7 cents to $43.57 on Friday.

Benihana Inc. (BNHNA: chart) on Monday said 1Q same-store sales climbed 9%, while total sales at the sushi restaurant chain grew 13.5% to $74 million. The company expects to post 1Q net income far above its previous forecast of 28-30 cents a share. Analysts are looking for earnings of 29 cents a share. The company’s shares closed flat at $15 on Friday.

Graco Inc. (GGG: chart) reported 2Q earnings of $35.6 million, or 51 cents a share, up versus $30 million, or 43 cents a share in the same quarter last year, and beating analysts’ forecast of 49 cents a share. Revenue increased 24% to $198.2 million vs. $160.2 million last year, beating estimates of $197.3 million, due to 23% growth in the Americas, a 22% growth in Europe and 31% growth in Asia. Gross profit margins declined to 51.6% versus 53.2%. The stock closed Friday, down 2 cents at $36.42.

The provider of diagnostic testing and services Quest Diagnostics Inc. (DGX: chart) reported 2Q net income of $149.1 million, or 72 cents a share, up versus $126.9 million, or 59 cents last year. Quarterly revenue totaled $1.38 billion, up versus last year's $1.3 billion. Operating income amounted to $261.2 million versus $230.1 million, while analysts had expected earnings of 72 cents a share on revenue of $1.37 billion. The company also backed its full-year forecast of profit at $2.73 to $2.78 a share, on revenue growth of 5% to 6%. Shares of the company added 11 cents to close at $51.62 Friday.

The semiconductor equipment maker Veeco Instruments (VECO: chart) reported a 2Q loss of $449,000, or 2 cents a share, vs. a loss of $1.7 million, or 6 cents a share in the comparable quarter last year. Excluding non-recurring items, earnings would have come at 9 cents a share, beating analysts’ projections of 6 cents a share. Revenue advanced to $103.4 million vs. last year's $99.2 million, beating analysts’ views of $94.1 million. Bookings jumped to $118.6 million compared with the company's target of $90 million to $95 million. The company sees revenue of $95 million to $105 million in 3Q, while analysts expect $98.7 million. The company’s stock ended Friday down 7 cents at $18.40.

The poultry producer Pilgrim's Pride Corp. (PPC: chart) posted net income of $85.4 million, or $1.28 a share, for 3Q ended July 2, up versus $9.8 million, or 15 cents a year ago. Quarterly sales declined to $1.44 billion vs. nearly $1.45 billion a year earlier. Analysts had forecasted earnings of $1.20 a share on revenue nearly $1.47 billion. Operating income climbed to $136 million versus $37.1 million. Pilgrim's Pride now sees 4Q earnings at 90 cents to $1 a share, up vs. an earlier targeted range of 73 cents to 91 cents. Analysts expect earnings of 92 cents. Shares of Pthe company advanced 16 cents to end Friday's trading at $36.85.

Silicom Ltd. (SILCF: chart), ethernet and server adapters maker, announced it veered towards 2Q net profit of $315,000, or 7 cents a share, against last year’s net loss of $544,000, or 13 cents a share. Sales climbed to $2.64 million vs.$895,000. These figures exemplify the company's highest revenues since the fourth quarter of 2000.

Smith International Inc. (SII: chart), oil and gas industry services provider, posted 2Q net income rise, reaching $68.1 million mark, or 67 cents a share, vs. $27.5 million, or 27 cents. A 20 cent after-tax charge was included in last year's quarter. Revenue increased to $1.35 billion from $1.06 billion. The company explained lower Canadian revenues were mainly counterbalanced by increased demand for diamond drill bit products, better pricing and the inclusion of several large export orders. Smith hopes for margin acceleration in the second half, and lifted its to $1.40 to $1.45 per share, after accounting for the previoulsy announced stock split.

Volvo (VOLVY: chart), truck maker, announced 2Q net income increased 40% to SEK3.9 billion as sales went up to SEK61.1 billion from SEK53.3 billion on strong growth in North and South America. Earnings for the period rose 45% to SEK9.67; the group's margin increased to 8.8%. Volvo boosted its North American market estimate to 20%, up from an earlier prediction of 15%.