|
Latest earnings news
|
 |
July 21, 2000: 5:45 p.m. ET
Alaska Air, Sun Microsystems, USX, Sears, BFGoodrich beat Street; Kodak meets Street; Ericsson warns
|
NEW YORK (CNNfn) - Alaska Air, Sun Microsystems, Sears Roebuck & Co., BFGoodrich Co. and USX Group beat the Street, while Eastman Kodak Co.'s earnings met Wall Street expectations Friday.
However, LM Ericsson AB warned its revenue will suffer in the future. The Washington Post and Lexmark International Inc. both failed to meet analysts' estimates.
Washington Post misses the mark
The Washington Post Co (WPO: Research, Estimates) reported a second-quarter profit that fell far short of analysts' estimates, as increased spending on key Web-based initiatives overshadowed strength at the publishers magazine unit. The Washington, D.C.-based publisher of The Washington Post newspaper and Newsweek magazine reported second-quarter earnings of $41.2 million, or $4.33 a share for the period ended July 2, off 39 percent from net income of $67.9 million, or $6.67 per share in the second quarter of last year. A consensus of Wall Street analysts surveyed by First Call had expected a profit of $5.70 a share.
Alaska Air beats forecast, but earnings fall
Alaska Air Group Inc., (ALK: Research, Estimates) parent of No.10 U.S. airline Alaska Airlines, reported operating income fell 38 percent as costs, particularly fuel, outpaced traffic growth, though it beat Wall Street expectations. Excluding the effects of a change in accounting for frequent flyer programs, the Seattle-based company said it earned $26.1 million, or 99 cents a share, compared with $42.1 million, or $1.59 a share, a year earlier. Analysts had on average expected the company to earn 91 cents a share, according to First Call/Thomson Financial.[click here for full story]
USX Oil, Steel blow past estimates
USX Corp. (X-A: Research, Estimates) posted second-quarter profits for its oil and steel units Friday that more than doubled from a year ago.
The company's Marathon Group (MRO: Research, Estimates) posted second-quarter earnings of $367 million, or $1.18 a share. That beat the forecasts of oil analysts surveyed by earnings tracker First Call, who forecast $1.03 in profits for the period. The publicly traded unit earned $119 million, or 39 cents a share, in the year-earlier period, excluding special items.
The company's Steel Group (X: Research, Estimates) reported second-quarter earnings of $66 million, or 72 cents a diluted share, in the quarter, excluding special items. That beat the First Call forecast of 70 cents a share, and was more than double the $32 million, or 34 cents a share it earned a year earlier. [click here for full story]
SUN shines on Street
Rays from Sun Microsystems' (SUNW: Research, Estimates) fourth-quarter earnings results warmed investors Friday, sparking a share gain of nearly 7 percent in midday trading. Nortel reported fiscal fourth-quarter earnings of $659.5 million, or 39 cents per share, soundly beating analysts' expectations of 33 cents a share. Shares of Sun rose 5-7/16 to 103-1/2, one of the few stocks trading higher on the Nasdaq. [click here for full story]
Kodak sharp in 2Q
Eastman Kodak Co. (EK: Research, Estimates), the world's largest photography products company, earned $513 million, or $1.65 a diluted share, in the second quarter, in line with the estimates of analysts surveyed by earnings tracker First Call, and up from net income of $491 million, or $1.52 a share, a year earlier. [click here for full story]
Ericsson's signal scrambled
Sweden's LM Ericsson AB reported hefty one-time gains that fueled a big increase in second-quarter earnings, but warned its handset division will post a loss for the whole business year, saying sales of its highest-priced phones are dwindling as a share of the total. [click here for full story]
Sears posts surprising profit
Retailer Sears Roebuck & Co. (S: Research, Estimates) posted net income of $388 million, or $1.11 per share, beating the $1.05 a share  estimate of analysts surveyed by First Call. The company earned $331 million, or 86 cents a share a year earlier. [click here for full story]
Lexmark misses mark
Lexmark International Inc. (LXK: Research, Estimates) said second-quarter profit rose 12 percent, but missed Wall Street estimates as the computer printer maker experienced slow demand for laser printers in the corporate market. [click here for full story]
Goodrich pumped up
BFGoodrich Co. (GR: Research, Estimates) reported income, excluding special items, of $91 million, or 84 cents a diluted share for the second quarter, down from $100 million, or 89 cents a share, a year earlier. First Call had expected 82 cents a share. [click here for full story]
-- Compiled by Mark Gongloff and Parija Bhatnagar from staff and wire reports
|
|
|
|
|
 |
|
