Pacer International Inc. (NasdaqGS:
PACR -
News) reported fourth-quarter net income of $21.5 million, or 57 cents a share, up from $20.4 million, or 54 cents a share, a year ago. Revenue for the three months ended Dec. 29 fell to $502 million from $503.8 million a year ago.
PepsiCo (NYSE:
PEP -
News) said fourth-quarter profit rose 60%, helped by a tax benefit, lower expenses, strength in its international business and robust sales of non-carbonated drinks and salty snacks in the U.S.
Protective Life (NYSE:
PL -
News) said fourth-quarter net income rose, as the company recorded investment gains of 28 cents per share, to $85.2 million, or $1.19 a share, from $68.6 million, or 96 cents a share, during the same period in the prior year. Before items, quarterly per-share income fell to 91 cents from $1.02 in the prior year. Analysts polled by Thomson Financial had expected per-share earnings of $1. The insurance and investment products company said it sees 2007 operating income per share of $3.60 to $3.80.
Riverbed Technology (NasdaqGM:
RVBD -
News) said it plans to file with the Securities and Exchange Commission a registration statement to offer five million shares in an underwritten secondary public offering. The San Francisco-based company said about 2.65 million of the shares will be offered by certain Riverbed stockholders. The company also said its fourth-quarter loss narrowed to $2.41 million, or 4 cents a share, from $4.73 million, or 43 cents a share, a year earlier, as revenue surged on product demand and customer growth. Excluding stock-based compensation, the company earned 3 cents a share for the most recent period. Analysts surveyed by Thomson Financial expected, on average, quarterly earnings of 1 cent a share, before items. The San Francisco wide-area data service company's revenue for the quarter rose to $33.8 million from $10.6 million a year ago.
Silicon Laboratories (NasdaqGS:
SLAB -
News) agreed to sell its Aero single-chip phone and power amplifier product lines to NXP for $285 million. The cash deal also includes additional earn-out potential of up to $65 million over the next three years. The semiconductor company expects the deal to close by the end of the first quarter.
Spectrum Brands (NYSE:
SPC -
News) said it swung to a loss of $18.8 million, or 38 cents a share, from a profit of $2.3 million, or 5 cents a share, a year earlier. Excluding non-recurring items, such as a loss from discontinued operations and a restructuring charge, the Atlanta consumer products company would have earned 12 cents a share in the quarter ending December. Revenue fell 0.3% to $564.6 million from last year's $566.3 million, as a 6% drop in battery sales offset 7% growth in Remington branded product sales and a 4% increase in Global Pet sales. Analysts surveyed by Thomson Financial had been expecting earnings of 8 cents a share and revenue of $640.3 million, on average.
Syntax-Brillian Corp. (NasdaqGM:
BRLC -
News) shares gained after the Tempe, Ariz.-based maker of HDTVs and digital entertainment products reported fiscal second-quarter net earnings of $14.8 million, or 25 cents a share. In the same quarter last year, the company posted a net loss of $1.23 million, or 4 cents a share. Revenue rose to $242.5 million from $60.2 million. Analysts polled by Thomson Financial had forecast a per-share profit of 24 cents on revenue of $241.8 million. For the fiscal third-quarter, Syntax-Brillian expects revenue of $160 million to $170 million, and for fiscal 2007, the company expects revenue of $650 million to $700 million.
Toll Brothers (NYSE:
TOL -
News) reported an "uptick" in sluggish housing demand in several markets as the luxury home builder's cancellation rate came down but said it may post quarterly writedowns as high as $160 million or more, which would handily top its previous estimate for all of 2007.
Unilever (NYSE:
UL -
News) (NYSE:
UN -
News) reported a fourth-quarter profit surge, although it lacked sales growth due to difficulties rejuvenating its European operation.
Warner Music Group (NYSE:
WMG -
News) said its profit dropped 74% to $18 million, or 12 cents a share, as revenue declined 11% to $928 million. Analysts polled by Thomson Financial expected earnings of 24 cents a share on revenue of $945 million. The company said it faced "unusually difficult" year-ago comparisons, and it said digital revenue represented 11% of total revenue during the quarter. Softer domestic and European sales hurt its recorded music division, while music publishing revenue edged up 2%.
Waste Management Inc. (NYSE:
WMI -
News) posted a 15% drop in fourth-quarter earnings compared to a year ago when hurricane clean-up profits bolstered the bottom line.
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