Expanded sales boost Akamai

Third-quarter earnings were up 14 percent at Wynn Resorts Ltd., the biggest US casino company. Increased gambling in Macau (above) made up for declines in Vegas. (Kin Cheung/Associated Press)

Akamai Technologies Inc., the largest supplier of software and services to speed the delivery of Internet pages, reported that profit rose on a jump in sales.

Net income in the third quarter ended Sept. 30 increased 37 percent to $33.4 million, or 18 cents a share, from $24.3 million, or 13 cents, a year earlier, the Cambridge company said. Per-share profit before some items of 40 cents beat the 39-cent average estimate of 19 analysts surveyed by Bloomberg.

Akamai's sales have expanded with growing demand for video on the Internet. The company also provides services including analysis of consumer purchasing on the Web to large companies. Its customers include Viacom Inc.'s MTV and Best Buy Co. (Bloomberg)

Bruker Corp.'s stock slid after the company reported that its third-quarter profit sagged 33 percent on increased operating expenses.

The X-ray technology and molecular analysis company reported it earned $17.8 million, or 11 cents per share, for the three months ended Sept. 30 compared with $26.7 million, or 16 cents per share, a year ago.

Revenue edged up to $242.1 million from $241.8 million on improved service revenue. Total operating expenses grew to $94.9 million from $81.3 million.

Chief financial officer William Knight said the Billerica company anticipates between $12 million and $15 million in annual savings, which will likely result in about $6 million in one-time restructuring expenses and tax charges. (AP)

CVS Caremark Corp., the second-biggest US drugstore chain, said third-quarter profit rose 6.7 percent, matching analysts' estimates, as sales of store-branded products increased.

CVS won over customers by promoting its less-expensive labels to cost-conscious shoppers besieged by rising unemployment and housing costs. "CVS looks like it's kind of leading the pack," said David Abella, a portfolio manager at Rochdale Investment Management, with $2 billion in assets including shares of both drugstore chains.

It expects profit this year of $2.44 to $2.48 a share excluding the effect of Longs Drug Stores Corp., executives said. The chain previously expected profit of $2.44 to $2.50. Analysts estimated $2.46.

CVS bought Longs Drug for $2.7 billion after Walgreen Co. withdrew a competing bid.

Third-quarter net income climbed to $736 million, or 50 cents a share, from $689.5 million, or 45 cents, a year earlier, the Woonsocket, R.I.-based company said.

Sales advanced 1.8 percent to $20.9 billion from $20.5 billion. Profit excluding some items was 60 cents a share, matching the average estimate of 16 analysts. (Bloomberg)

Data storage and protection company Iron Mountain Inc. said its third-quarter profit fell as strength in the US dollar resulted in large noncash charges.

Boston-based Iron Mountain earned $11.3 million, or 6 cents per share, compared with $51.3 million, or 25 cents per share, in the year-ago quarter.

Analysts polled by Thomson Reuters projected earnings of 20 cents per share.

Iron Mountain's revenue rose 11.8 percent to $784.3 million helped by growth in storage and service and storage material sales.

Analysts expected $772.3 million in revenue.

Iron Mountain said that noncash charges related to the strength of the US dollar since the end of the second quarter lowered its earnings by 17 cents per share and raised its effective tax rate to 81.6 percent.

For the full year, Iron Mountain now expects revenue growth of 11 percent to 12 percent. Previously, the company predicted revenue growth of 12 percent to 13 percent.

The new forecast implies revenue of $3.03 billion to $3.06 billion.

Analysts expect $3.08 billion in revenue. (AP)

Colgate-Palmolive Co., the world's largest maker of toothpaste, said third-quarter profit rose 19 percent, driven by sales in Latin America and higher prices.

The company said it was "comfortable" with analysts' earnings estimates for the rest of the year, and anticipated 2009 growth in the "double digits" on a percentage basis, sending Colgate up 7.1 percent in New York trading.

Colgate stuck with its forecast after Procter & Gamble Co. and Kimberly-Clark Corp. lowered their annual profit projections, signaling its sales may keep growing even after recent price increases.

The maker of Speed Stick deodorant and Irish Spring soap has been charging more around world to counter higher raw-material costs.

"Given what the world is going through right now, their forecast is a pretty remarkable achievement," said Nik Modi, a New York-based analyst with UBS Securities LLC.

"These products are staples, no matter where you are in the world." Modi recommends investors buy the shares.

Net income increased to $499.9 million, or 94 cents a share, from $420.1 million, or 77 cents, a year earlier, the New York-based company said.

Sales jumped 13 percent to $4 billion, matching the average estimate of analysts. (Bloomberg)