Earnings Roundup

Net income rose to $677 million, or 26 cents a share, from $561 million, or 21 cents, a year earlier, the Round Rock, Texas, company said. Sales in the period ended Oct. 31 gained 16 percent to $10.6 billion from $9.14 billion.

Analysts on average expected third-quarter profit of 26 cents a share on sales of $10.5 billion, according to a Thomson Financial survey.

Chief executive Michael Dell has boosted sales for seven straight quarters by winning business and consumer PC purchases with lower prices and by adding new product lines such as storage devices, cash registers and printers.

Sales from the enterprise unit, which includes the new products, increased 32 percent, led by shipments of server computers and storage gear.

Sales will rise 18 percent to $11.5 billion this quarter, with profit at 28 cents a share. Analysts on average expected $11.2 billion and 28 cents a share, according to a Thomson survey. (Bloomberg) Wal-Mart Stores Inc. said a turnaround at its Sam's Club warehouse stores and strength abroad drove a 13.9 percent increase in quarterly profit, but results just missed Wall Street's loftier expectations.

The world's biggest company by revenues gave a cautious outlook for the US economy as a whole, but said its earnings in the current quarter should be largely in line with analysts' expectations.

For the fiscal third quarter ended Oct. 31, Wal-Mart said earnings from continuing operations rose to $2.0 billion, or 46 cents per share, from $1.8 billion, or 40 cents per share, a year earlier.

Results for both periods exclude McLane Co., the grocery distribution business that Bentonville, Ark.-based Wal-Mart sold in May.

Analysts, on average, were expecting Wal-Mart to earn 47 cents per share, according to Reuters Research, a unit of Reuters Group PLC.

Wal-Mart had said in late September it expected earnings in the range of 45 cents to 47 cents per share, and told analysts not to raise their forecasts even though sales had outpaced company and analyst expectations.

Wal-Mart said quarterly sales rose 13.1 percent to $62.5 billion. Sales at US stores open at least a year -- a key retail gauge known as same-store sales -- rose 6.1 percent.

For the fourth quarter, which includes the holiday shopping season, Wal-Mart expects earnings per share in the range of 63 cents to 65 cents, compared with analysts' consensus estimate of 65 cents. (Reuters) Wave Systems Corp.'s third-quarter loss narrowed as year-ago results included a $5.89 million charge for an investment gone sour.

The Lee-based maker of digital security products for the Internet posted a loss of $5.5 million, or 15 cents a basic share, compared with a year-ago loss of $12.6 million, or 24 cents a basic share.

Year-ago results include a charge stemming from its investment in software company SSP Solutions Inc., following an "other than temporary" decline in market value.

Wave Systems said it is exploring several financing alternatives. This may include the sale of some or all of its remaining $5 million in marketable securities. The company plans to raise added funds through a planned sale of class.

A common stock before year's end.A spokesman wasn't immediately available to comment on third-quarter diluted earnings per share. (Dow Jones)