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Honeywell (HON)
Honeywell International Inc., the maker of controls for planes and buildings, said third-quarter profit fell 15 percent to $608 million, or 80 cents a share, from $719 million, or 97 cents, a year earlier. Third quarter 2009 sales were $7.7 billion, in line with expectations, versus $9.3 billion in the third quarter last year
The company topped analysts’ estimates as cost savings at its largest units helped compensate for lower demand.
Oct 23 · 10:09:00 AM · Source: Company News Release
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by Larry Etter
Whirlpool (WHR)
Whirlpool Corp. said its third-quarter profit fell 47%, with sales remaining weak across most of its businesses. The company said its profits were $87 million, or $1.15 a share, down from $163 million, or $2.15, a year earlier. Revenue dropped 8.2% to $4.5 billion; excluding currency effects, the drop was about 3%.
However, earnings exceeded analyst expectations and the appliance giant boosted its 2009 target to about $4.25 a share, compared with its prior expectation of $3.50 to $4.
Oct 23 · 10:04:00 AM · Source: Company News Release
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by Larry Etter
Cheesecake Factory (CAKE)
Cheesecake Factory reported diluted net income per share of $0.27 on total revenues of $400.6 million in the third quarter of fiscal 2009 as compared to $0.19 per share on total revenue of $405.1 million in the prior year third quarter.
“We achieved significant year-over-year growth in net income and earnings per share in the third quarter, driven by a third consecutive quarter of moderate gains in comparable restaurant sales and solid execution on our cost management initiatives,” said David Overton, Chairman and CEO.
Oct 23 · 10:04:00 AM · Source: Press Release
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by Rich Pike
Schlumberger (SLB)
Schlumberger Ltd. Friday reported net income of $787 million, or 65 cents per share, for the third quarter, a decrease from year-earlier earnings of $1.53 billion, or $1.25 a share. The company said oilfield services revenue in the quarter was $4.95 billion, flat sequentially but down 22% from a year ago. Increases in both North and South America offset further declines in the Middle East and Asia.
But company CEO Andrew Gould said he believes "the worst" is behind the company.
Oct 23 · 9:56:00 AM · Source: Company News Release
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by Larry Etter
Xerox (XRX)
Xerox reported 3rd quarter earnings of 14 cents per share on revenue of $3.7 billion compared to earnings of 30 cents per share on revenue of $4.37 billion from the previous year same quarter.
Xerox expects fourth-quarter 2009 earnings per share in the range of 20 cents to 22 cents, excluding costs related to the acquisition of ACS. The company has increased its full-year earnings expectations to 55 cents to 57 cents per share, which excludes fourth-quarter ACS acquisition related costs. Prior guidance for full-year 2009 was 50 cents to 55 cents per share.
Oct 23 · 9:55:00 AM · Source: Press Release
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by Rich Pike
Microsoft (MSFT)
Microsoft posted quarterly earnings and revenues that surpassed Wall Street estimates Friday. First-quarter net income fell to $3.57 billion, or 40 cents a share, beating the 32-cent average estimate of analysts. Revenue, excluding $1.47 billion deferred to a future quarter, was $12.9 billion. Analysts had projected sales of $12.4 billion for the period ended Sept. 30.
The company said sales of Windows and Xbox exceeded expectations due to strong consumer demand and that cost discipline drove earnings per share growth.
Oct 23 · 9:48:00 AM · Source: Company news release
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by Larry Etter
Gilead Sciences (GILD)
Gilead Sciences reported Q3 earnings of $0.72 per share on net income of $673 million compared to $0.52 per share on net income of $496 million in the year ago period.
Product sales increased 23 percent to a record $1.65 billion for the third quarter of 2009, compared to $1.34 billion in the third quarter of 2008. This increase in sales was driven primarily by Gilead’s antiviral franchise, including the strong growth in sales of Atripla® (efavirenz 600 mg/ emtricitabine 200 mg/ tenofovir disoproxil fumarate 300 mg) and continued growth in sales of Truvada® (emtricitabine/tenofovir disoproxil fumarate), as well as the addition of Ranexa®Â (ranolazine) to our commercial portfolio.
Oct 22 · 3:06:00 PM · Source: Press Release
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by Michael Oliveto
GE (GE)
General Electric has received a $400 million order to supply equipment to the world's biggest new liquefied natural gas development, being built by Chevron Corp in Australia.
The company said on Wednesday that it had been tapped to provide compressors to compress the gas and sequester carbon dioxide released during its production.
Chevron and partners Exxon Mobil Corp and Royal Dutch Shell expect the project to cost some $37 billion to build.
Oct 22 · 2:21:00 PM · Source: Reuters · Related: Chevron
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by Michael Oliveto
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