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Qwest Communications (Q)
Qwest said its third quarter net income was $136 million or $0.08 per share, compared to $145 million or $0.08 per share in the same quarter last year. Sales declined 9.6 percent to $3.05 billion.
The company said wireless substitution, increased unemployment, low business formation and soft housing trends" in its 14-state region continued to hamper voice revenues.
Oct 28 · 9:57:00 AM · Source: Company News Release
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by Larry Etter
Goodyear Tire & Rubber (GT)
Goodyear Tire & Rubbert said its third quarter earnings were $72 million, or 30 cents a share, compared with a profit of $31 million, or 13 cents a share, for the same period a year earlier. Sales fell 15% to $4.39 billion from $5.17 billion for the same period a year earlier.
Goodyear said it anticipates year-over-year global industry growth in 2010, especially in markets for tires featuring high-value-added features, larger rim diameters and fuel-efficient technology
Oct 28 · 9:50:00 AM · Source: Company News Release
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by Larry Etter
International Paper (IP)
International Paper said that its third quarter net income rose to $371 million, or 87 cents a share, from $149 million, or 35 cents, a year earlier. Net income included $525 million in U.S. pretax credits for burning the alternative fuel black liquor, a pulp-wood residue. Sales in the third quarter fell 13 percent to $5.92 billion from $6.81 billion a year ago.
But CEO John Faraci said that at the end of the quarter the company "began to see some modest improvements in demand in some segments of our paper and packaging businesses."
Oct 28 · 9:42:00 AM · Source: Company News Release
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by Larry Etter
Massey Energy (MEE)
Massey Energy Company today reported that net income was $16.5 million, or 19 cents per share, compared with $51.6 million, or 61 cents per share a year earlier. Revenue slumped 16 percent to $641.6 million.
Oct 27 · 8:05:00 PM · Source: Company News Release
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by Larry Etter
Norfolk Southern (NSC)
Norfolk Southern Corporation today reported third quarter net income of $303 million, or $0.81 per diluted share, compared with $520 million, or $1.37 per diluted share, for the third quarter of 2008. Third-quarter railway operating revenues were $2.1 billion, down 29 percent, compared with the third quarter of 2008, primarily the result of a 20 percent reduction in traffic volume and lower fuel-related revenues.
The company's CEO said the company's third-quarter results reflect the continuing weak economy, but also show Norfolk Southern's "resilience and the strength of our franchise."
Oct 27 · 8:00:00 PM · Source: Company News Release
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by Larry Etter
Armstrong World Industries (AWI)
Armstrong World Industries, Inc., a manufacturer of flooring and ceiling products, said its third-quarter net earnings increased to $64.4 million or $1.12 per share from $38.9 million or $0.68 per share a year ago. Third quarter 2009 net sales of $753.0 million were down 19 percent from $929.6 million in the same period for 2008.
The company expects fiscal 2009 results above the current estimates of Wall Street analysts.
Oct 27 · 7:55:00 PM · Source: Company News Release
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by Larry Etter
Visa, Inc (V)
Visa Inc. reported fiscal year fourth-quarter GAAP net income of $514 million or $0.69 per class A common stock, compared to a loss of $356 million or $0.45 per class A common stock in the prior year quarter. Total operating revenues for the quarter were $1.88 billion, compared to $1.71 billion in the prior year quarter.
Revenue was higher than analysts' estimates and the company company announced that its board has authorized a $1 billion share repurchase plan. The authorization will be in place through September 30, 2010, and is subject to extension or expansion at the determination of Visa's Board of Directors.
Oct 27 · 7:49:00 PM · Source: Company News Release
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by Larry Etter
National Instruments Corp. (NATI)
National Instruments today reported that it had a third quarter profit of $9.931 million, a decrease from $23.159 million in the comparable prior period. Third quarter net sales totalled $165 million, a decrease from $215 million last year.
Revenue is up 8 percent from the second quarter of this year.
Oct 27 · 7:42:00 PM · Source: Company News Release
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by Larry Etter
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