Microsoft profit up on Windows sales
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Microsoft Corp. said profit rose 24 percent after customers bought more Windows software for personal computers and servers.
Sales this quarter may miss analysts' estimates.
Net income rose to $3.14 billion, or 29 cents a share, from $2.53 billion, or 23 cents, a year earlier, when profit was hurt by legal costs, the Redmond, Wash.-based company said. Sales gained 6 percent to $9.74 billion.
Profit before one-time items in the first quarter was 31 cents a share, compared with the 30-cent average estimate of 27 analysts surveyed by Thomson Financial. Analysts expected revenue of $9.78 billion.
Revenue this quarter will be $11.9 billion to $12 billion, Microsoft said, falling short of analysts' estimates of $12.3 billion.
Per-share profit will be 32 cents to 33 cents. Analysts expected 35 cents. (Bloomberg)
Units lift Raytheon in third quarter
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Defense contractor Raytheon Co. said its third-quarter profit rose by 50 percent on growth in its defense contracting business and its commuter aircraft unit.
Raytheon reported net income of $228 million, or 50 cents per share, in the July-September period, up from $152 million, or 34 cents per share, in last year's third quarter.
Sales rose 8 percent in the latest quarter to $5.33 billion.
Excluding a $3 million expense for discontinued operations, Raytheon had earnings of $231 million, or 51 cents per share.
That compares with $186 million, or 41 cents per share, a year ago, when a $34 million charge is excluded.
The most recent quarter's performance beat the consensus analyst forecast of 48 cents a share, but fell short of analysts' revenue projection of $5.44 billion.
Raytheon raised its expectations of per-share earnings to $2 to $2.05 per share for the full year, excluding one-time expenses and gains, up from its estimate in July for a full-year profit of $1.90 to $2.
Analysts expect a full-year profit of $2.01 per share. (AP)
Subscriber growth boosts Verizon
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Verizon Communications Inc.'s profit edged higher in the third quarter as record growth in wireless and broadband subscribers offset the ongoing declines in traditional phone lines at the big telecommunications company that is buying MCI Inc.
Verizon said it earned $1.87 billion, or 67 cents per share, in the July-September period, up from $1.80 billion, or 64 cents a share, a year ago.
Verizon's revenue totaled $19.04 billion, up 4.6 percent from the year-ago tally of $18.21 billion.
The third-quarter profit was on target with most Wall Street forecasts, while revenues came in a shade higher than expected by the analysts surveyed by Thomson. (AP)
J. Jill Group posts slightly wider loss
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Women's clothing retailer J. Jill Group reported a slightly wider third-quarter loss, as higher merchandising costs and administrative expenses outstripped modest revenue growth.
The Quincy company reported a net loss of $2.69 million, or 13 cents per share, compared with a year-ago loss of $2.66 million, or 13 cents per share.
Sales rose 8 percent to $103 million from $94.9 million a year ago.
Wall Street had expected a 13-cent loss, the average view of six analysts polled by Thomson, on sales of $103.1 million. (AP)
Charles River Labs meets forecast
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Charles River Laboratories International Inc. said it would close a facility as it tries to cut costs.
The company plans to close its Preclinical Services Wisconsin plant, Wilmington-based Charles River said.
The company had third-quarter net income of $32.1 million, or 44 cents a share, in line with a forecast that was reduced last month because of lower-than-expected sales.
In the fourth quarter, it will record a cost of 9 cents a share related to the restructuring.
It expects to have a one-time benefit of 11 cents on the repatriation of income earned outside the United States, Charles River said. (Bloomberg)
