NEW YORK (CNN/Money) -
After the bell Tuesday, Motorola posted a net profit for the second straight quarter, but forecast weaker-than-expected first-quarter results.
Internet marketing firm DoubleClick posted a smaller net loss for the fourth quarter and a profit excluding charges that beat Wall Street estimates. Silicon Graphics Inc. and Avaya posted wider losses, while JDA Software reported a smaller profit than last year, but still beat Wall St. estimates.
Earlier Tuesday, Citigroup said its fourth-quarter profit fell 37 percent, but beat analysts' estimates by a penny, as charges from the conflict-of-interest settlement on Wall Street and Enron related losses cut into the firm's bottom line. Ford Motor Co. posted a slight operating profit that topped Wall Street estimates by a cent and 3M reported an increase in its fourth-quarter profit on increased sales.
Companies in this roundup
Avaya; DoubleClick; JDA Software
Mellon Financial; McKesson; Motorola
Silicon Graphics; Washington Mutual
Click here for a wrap-up of recent earnings reports
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Motorola
CHICAGO (Reuters) -- Motorola Inc., the world's second-largest mobile phone maker, Tuesday posted a net profit for the second straight quarter, helped by gains in its mobile phone unit, and the company also forecast weaker-than-expected first-quarter results.
Motorola, based in Schaumburg, Ill., reported a fourth-quarter net profit of $174 million, or 8 cents a share, compared with a net loss in the year-ago quarter of $1.2 billion, or 55 cents a share.
Excluding one-time items, it reported an operating profit of 13 cents a share, beating its forecast of 10 cents a share before one-time items.
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DoubleClick
NEW YORK (Reuters) -- Internet marketing company DoubleClick Inc (DCLK: Research, Estimates) Tuesday posted a smaller net loss for the fourth quarter and a profit excluding charges that beat Wall Street estimates.
DoubleClick, whose business focuses on e-mail promotions and other online marketing efforts, said its net loss narrowed to $54 million, or 40 cents per share, from a loss of $64 million or 48 cents per share a year ago.
Excluding items such as restructuring charges and one-time items, the company's income was $7.4 million, or 5 cents per share, easily beating analysts' forecasts ranging from breakeven to a profit of a penny, according to research firm Thomson First Call.
The company also said it expects to report first-quarter revenue of $55 million-to-$60 million and pro-forma per-share results from a loss of 2 cents to a profit of 1 cent. For the year, it expects revenue of $250 million-to-$300 million and pro-forma earnings per share of 5 cents-to-15 cents.
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Washington Mutual
SEATTLE (Reuters) -- West Coast U.S. thrift Washington Mutual Inc. (WM: Research, Estimates) Tuesday posted a 13 percent rise in quarterly profit, as low U.S. interest rates drove mortgage originations and refinancings.
The Seattle-based bank earned $969 million, or $1.03 a share, in the fourth quarter, compared with $842 million, or 97 cents a share, in the 2001 quarter.
Wall Street expected Washington Mutual to earn $1.00-to-$1.05 with a mean estimate of $1.03 a share, according to market data firm Thomson First Call.
People continue to borrow money to buy homes, or refinance existing mortgages, given low interest rates. Rocky stock markets also forced people to put money back into savings accounts, generating fees and deposits for banks.
Washington Mutual stock closed down 60 cents, or 1.7 percent, at $35.30 on Tuesday before the results.
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McKesson
SAN FRANCISCO (Reuters) -- Drug wholesaler McKesson Corp. Tuesday said its quarterly net income increased 23 percent on higher demand for prescription drugs that drove sales and expanded operating margins.
Net income increased to $134.3 million, or 46 cents per share, for its third quarter ended Dec. 31, compared with $108.8 million, or 37 cents per share, a year ago. Last year's results included a charge of $2.9 million.
Thomson First Call published analysts' earnings per share estimates of 44-to- 48 cents with a mean estimate of 46 cents for the fiscal quarter.
Net revenue, including sales made directly to customer warehouses, increased to $14.92 billion from $13.19 billion a year ago. Excluding bulk sales to customer warehouses, revenue totaled $10.91 billion, up from $9.63 billion a year ago.
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Silicon Graphics
MOUNTAIN VIEW, Calif. (Reuters) -- Computer maker Silicon Graphics Inc. Tuesday reported a net loss in the second quarter versus a profit a year earlier, as revenue slid amid tough times in the technology industry.
Mountain View, Calif.-based SGI posted a net loss of $17.0 million, or 8 cents per share, compared with net income of $49.3 million, or 24 cents per share, in the year-ago quarter.
Revenue fell to $262.7 million from $363.9 million.
The company, which sells high-end computers and targets industries such as defense contractors and Hollywood studios, had forecast an operating loss of $18 million-to-$21 million on revenue of $240 million-to-$260 million.
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Avaya
BASKING RIDGE, N.J., (Reuters) -- Communications equipment maker Avaya Inc. (AV: Research, Estimates) Tuesday posted a wider quarterly loss and lower sales as corporate customer spending remained weak.
The company, based in Basking Ridge, N.J., reported a fiscal first-quarter net loss of $37.6 million, or 10 cents a share, compared with a loss of $19.5 million, or 9 cents a share, in the year-ago quarter. Excluding one-time items, its loss was $33.4 million, or 9 cents a share.
Sales from ongoing operations in the quarter ending Dec. 31 fell 18 percent to $1.07 billion from $1.31 billion last year. They fell 7.4 percent from the previous quarter.
Avaya, a provider of voice and data networks, said earlier this month it expected a loss of 8-to-10 cents a share, excluding one-time items. It also said it expected sales in the range of $1.06 billion-to-$1.07 billion.
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Mellon Financial
PITTSBURGH (Reuters) -- Investment manager and financial services company Mellon Financial Corp. (MEL: Research, Estimates) said Tuesday its quarterly profit fell sharply from a year ago, missing Wall Street estimates.
Mellon, whose businesses include the Dreyfus Corp. mutual funds, said fourth-quarter profit fell to $166 million, or 38 cents per diluted share, from $807 million or $1.70 per share a year ago, when the company had a big one-time gain.
The year-ago earnings included income from discontinued operations of $851 million.
Analysts polled by market data firm Thomson First Call had expected earnings of 39-to-44 cents with an average estimate of 42 cents per share.
Investment management firms have been buffeted by the bear market in stocks, which puts pressure on the level of assets under management, a key driver of profits in the industry. Mellon said in its earnings release it plans to cut about 650 jobs for additional cost savings.
Mellon stock fell 30.6 percent in 2002, compared with a decline of 23.4 percent in the Standard & Poor's 500 index.
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JDA Software
SCOTTSDALE, Ariz. (Reuters) -- JDA Software Group Inc (JDAS: Research, Estimates) said Tuesday its quarterly profits fell as revenues slipped 15 percent due to a persistent slowdown in sales of its retail planning software.
JDA posted a fourth-quarter profit of $950,000, or 3 cents a share, compared with a profit of $3.3 million, or 12 cents a share, a year earlier. The net loss included charges to cover previously announced job cuts, office closures and a staff relocation program.
JDA, whose software lets retail companies plan their inventory to meet customer demand, said revenue fell to $53.3 million from $62.8 million a year ago.
Excluding amortization of intangibles and the restructuring charges, the company posted a profit of 11 cents a share compared with a profit of 20 cents a year ago.
Analysts, on average, had expected JDA Software to post a profit of 7 cents a share on that basis, according to Wall Street tracking firm Thomson First Call.
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