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Latest earnings news
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October 23, 2000: 11:51 p.m. ET
Corning, Conoco beat Street, 3M posts record 3Q, SBC profit flat with year-ago
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NEW YORK (CNNfn) - Corning and Conoco reported third-quarter earnings Monday that beat Wall Street forecasts, while diversified manufacturer 3M toppled estimates for the quarter.
Printer maker Lexmark took a third-quarter hit to earnings and announced job cuts due to a restructuring. Southern Co. earnings came in ahead of estimates.
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W.R. Grace edges estimates
Industrial conglomerate W.R. Grace & Co. said third-quarter income from continuing operations climbed to $34.1 million, or 51 cents a diluted share, from $32.8 million, or 44 cents a diluted share, during the same period a year ago. Analysts had forecast profits of 50 cents a share. [Click here for more]
FreeMarkets cuts loss, see quicker profit
Business-to-business online auctioneer FreeMarkets Inc. said its loss was $12.3 million, or 33 cents per diluted share, in the third quarter 2000 compared with $4.9 million, or 35 cents a share, in the same quarter last year. Analysts had expected a loss of 42 cents in the quarter, according to First Call/Thomson Financial. The company also said it would break even two quarters ahead of schedule. [Click here for more]
Sanmina shreds Street
Sanmina Corp., a leading supplier of electronics manufacturing services on a contract basis, reported fourth-quarter earnings, excluding one-time charges, of $97.1 million, or 59 cents per share, during the period ended Sept. 30, compared with $44.4 million, or 30 cents per share, during the same period last year. Analysts had predicted a profit of 49 cents. [Click here for more]
Radio Shack tunes in profits
Electronics retailer Radio Shack reported a 29 percent increase in third-quarter earnings to $77.1 million, or 39 cents a share, compared with net income of $59.8 million, or 29 cents a share, in the year-earlier quarter, and analysts forecast of 38 cents a share. [Click here for more]
BorgWarner meets forecast
Automobile parts maker BorgWarner Inc. reported a third-quarter profit, before special items, of $24.9 million, or 95 cents a share, compared with $27.4 million, or $1.02 per share, in the year-ago quarter. Analysts, who in September lowered their forecasts, had expected a profit of 95 cents. [Click here for more]
Silicon Graphics clears lower bar
Computer workstation maker said it lost $49 million, or 26 cents per share, in the quarter, compared with a loss of $225 million, or $1.24 a share, in the year-ago quarter. Analysts, who had adjusted estimates following the warning earlier this month, had been expecting a loss of 46 cents per share, according to First Call/Thomson Financial. [Click here for more]
Kimberly-Clark matches estimates
Kimberly-Clark Corp., maker of Kleenex tissues and Huggies diapers, posted a 12 percent gain in third-quarter operating at $667.9 million, or 84 cents per diluted share, up from $598.5 million, or 75 cents per share, in the 1999 third quarter. The results, which excluded one-time items, matched analysts' estimates. [Click here for more]
Corning beats Street
Corning Inc. reported third-quarter earnings Monday of 35 cents a share, a penny above Wall Street forecasts of 34 cents. The results from the maker of fiber optic network gear compared with profits of 19 cents a share a year earlier. [Click here for more]
3M record 3Q tops target
Diversified manufacturer Minnesota Mining & Manufacturing Co. reported a record third-quarter profit above forecasts. The company, commonly known as 3M, posted net income of $499 million, or $1.25 a share. [Click here for more]
SBC gets boost outside phones
SBC Communications Inc. edged past third-quarter earnings estimates with strong results from its operations outside its core local phone service. The company earned 57 cents a share excluding one-time items, flat with 57 cents a share a year earlier but ahead of the 56 cents a share forecast by analysts surveyed by First Call. [Click here for more]
Conoco profits surge on strong oil
Conoco Inc. reported third-quarter net income of $497 million, or 79 cents per diluted share, compared with $223 million, or 35 cents, a year ago, beating Wall Street forecasts by 3 cents. The oil company contributed its growth income to sharply higher crude oil and natural gas prices. [Click here for more]
Lexmark takes 3Q hit
Printer maker Lexmark International Inc. reported a 14 percent drop in third-quarter earnings, reporting $66.1 million, or 50 cents a share, compared with $76.5 million, or 56 cents a share, in the year-ago period. According to First Call/Thomson Financial, analysts had expected the company to earn 47 cents a share. [Click here for more]
Southern Co. beats Street
Southern Co. reported third-quarter profits of 95 cents a share, excluding one-time items, above Wall Street forecasts of 92 cents a share.
Amex charges up 3Q profit
American Express Co., the world's biggest single issuer of credit cards, reported third-quarter profit Monday that matched Wall Street forecasts as its clients charged up more on its multi-colored cards. Net income rose 14 percent to $737 million, or 54 cents a diluted share, from $648 million, or 47 cents a share, a year earlier. [Click here for more]
Anadigics beats the Street
Communications chip maker Anadigics Inc. Monday reported a third-quarter profit that beat Wall Street's expectations by 2 cents on sales that rose 44 percent. During the period ended Sept. 30, Anadigics said it earned $7.1 million, or 23 cents per share, compared with $2.5 million, or 10 cents per share in the year-ago quarter. [Click here for more]
National Semi warns
National Semiconductor Corp. on Monday said its fiscal second-quarter and third-quarter sales and earnings may fall short of previous expectations. Blaming inventory corrections being made by some of its customers in the wireless handset market, National said it expects second-quarter sales to decline between 6 and 8 percent from the first quarter and to resume sequential growth in the third quarter. [Click here for more]
Lucent beats lowered estimates
Communications equipment giant Lucent Technologies reported fourth-quarter earnings that were ahead of analysts' reduced expectations. Lucent said after the market close Monday that its fiscal fourth-quarter net income declined to $600 million, or 18 cents per share, from $768 million, or 24 cents, in the same period last year. [Click here for more] 
--Compiled by Tanya Helenius and Lucy Banduci from staff and wire reports
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