Latest earnings news

January 26, 2001: 8:53 a.m. ET

Gillette posts loss; Dominion earnings double, while Honeywell profits fall

NEW YORK (CNNfn) - Ericsson -- after a wider-than-expected loss -- said it plans to pull out of making its own mobile phones while Honeywell missed fourth-quarter forecasts. Mead said its earnings got hit by higher energy costs and a slowing U.S. economy.

Ericsson pulls phone plug
Sweden's Ericsson (ERICY: Research, Estimates) will stop making its own mobile phones and cut thousands of jobs after reporting worse-than- expected fourth-quarter results. (Click here for full story)

Honeywell profits fall
Diversified manufacturer Honeywell International (HON: Research, Estimates) reported lower profits that fell just short of Wall Street forecasts as sales in some key segments declined. (Click here for full story)

Gillette posts loss after charges
Consumer products giant Gillette Co. (G: Research, Estimates) posted a loss in the fourth quarter after a restructuring charge as the company struggled with flagging battery sales from its Duracell division. (Click here for full story)

Tribune beats lowered forecasts
Tribune Co (TRB: Research, Estimates), reported lower earnings per share that beat reduced forecasts on Wall Street by 2 cents. The publisher of the Chicago Tribune and Los Angeles Times said it earned 36 cents a share in the quarter, down from 44 cents a share a year earlier. (Click here for full story)

Georgia-Pacific reports 4Q loss
Georgia-Pacific (GP: Research, Estimates) posted a fourth-quarter loss of 98 cents a share versus profits of $1 a share a year earlier. The maker of Dixie Cups, Brawny paper towels and other products cited special charges for a mill closure and a big acquisition as well as lower demand for its products.

Mead 4Q earnings decline
Mead Corp. (MEA: Research, Estimates) said earnings fell 81 percent as the forest products industry struggled with higher energy costs and a slowing U.S. economy. The paperboard producer said net income was 17 cents a share, down from 86 cents a share a year earlier.

Dominion profits double
Dominion Resources (D: Research, Estimates) said fourth-quarter earnings more than doubled on strong revenues in all lines of business, beating forecasts by 2 cents a share. The power generator said fourth quarter operating earnings excluding special items was 59 cents a share against 35 cents a share for the 1999 quarter.

PMC-Sierra warns on sales
Communications chip maker PMC-Sierra Inc. (PMCS: Research, Estimates) reported late Thursday that its fourth-quarter earnings that matched estimates, but said new bookings fell off in the just-completed period and that the current quarter will fall well below expectations. (Click here for full story)