Raytheon income up in 4th quarter

YESTERDAY
Close	$52.56
Change	+$0.66
52-WEEK
High	$54.17
Low	$40.57

Raytheon Co. said fourth-quarter earnings rose 32 percent, driven by growing defense contract bookings and strong sales of missiles and battle operations communications systems.

Waltham-based Raytheon said net income for the October-December period rose to $365 million, or 81 cents per share, up from $276 million, or 61 cents per share, in the year-ago period.

The figures were boosted by a $73 million profit in the latest quarter compared with $45 million a year ago at Wichita, Kan.-based Raytheon Aircraft -- a unit that Raytheon is selling.

Excluding the aircraft operations, Raytheon's net sales last quarter were $5.7 billion, up 12 percent from $5.1 billion in the same period a year earlier.

Raytheon's quarterly profit from continuing operations -- a measure that excludes the aircraft operations -- was $292 million, or 65 cents per share, up from $231 million, or 51 cents per share, a year ago. Those figures also exclude other various one-time charges for both quarters, besides the aircraft operations. On that basis, the profit for the latest quarter matched the 65-cents-per share consensus forecast of analysts. (AP)

Exxon Mobil profits set full-year record

YESTERDAY
Close	$75.08
Change	+$0.98
52-WEEK
High	$79.00
Low	$56.64

Exxon Mobil Corp., the world's biggest oil company, said fourth-quarter profit fell 4.3 percent, the first drop in almost three years, after prices for natural gas and motor fuels declined.

Net income slid to $10.3 billion from $10.7 billion, the Irving, Texas-based company said. Earnings per share climbed to $1.76 from $1.71 after buybacks reduced the amount of stock outstanding. Net income for all of 2006 was $39.5 billion, topping Exxon Mobil's own record for full-year profit by a US company.

Fourth-quarter revenue dropped 9.4 percent to $90 billion.

Excluding a tax-related gain, per-share profit was 17 cents higher than the average of 18 analyst estimates compiled by Bloomberg. (Bloomberg)

Generic drug sales hike CVS revenue

YESTERDAY
Close	$33.29
Change	-$0.36
52-WEEK
High	$36.14
Low	$27.09

Drug store chain CVS Corp. said its fourth-quarter profit rose nearly 3 percent on increased sales of generic drugs, and urged shareholders of prescription benefits manager Caremark Rx to vote in favor of its acquisition offer this month.

Woonsocket, R.I.-based CVS said net income grew to $413.6 million, or 49 cents per share, from $402.8 million, or 48 cents per share, in the year-ago period. Results included preferred dividend payments of $3.6 million.

Revenue rose 24 percent to a record $12.07 billion from $9.73 billion last year.

Analysts expected earnings of 44 cents per share on revenue of $12.11 billion. (AP)

Net income falls at Commerce Group

YESTERDAY
Close	$30.87
Change	+$0.69
52-WEEK
High	$32.00
Low	$25.77

Commerce Group Inc.'s fourth-quarter net income fell 6.4 percent to $59.4 million, or 87 cents a share, from $63.5 million, or 94 cents a share, a year earlier.

Analysts expected fourth-quarter earnings of 81 cents a share.

The Webster property and casualty insurance underwriter said earnings include investment gains of $9 million, or 9 cents a share.

Revenue increased 8.7 percent to $513.5 million from $472.5 million. (Dow Jones)

Holiday toys help boost Amazon.com

YESTERDAY
Close	$38.70
Change	+$1.03
52-WEEK
High	$44.69
Low	$25.76

Amazon.com Inc., the world's biggest online retailer, posted fourth-quarter profit that fell less than analysts anticipated on higher holiday sales of electronics and toys.

Net income fell 51 percent to $98 million, or 23 cents a share, from $199 million, or 47 cents, a year earlier as the company paid more taxes, Amazon said. Sales increased 34 percent to $3.99 billion. Analysts were estimating profit of 21 cents on sales of $3.76 billion. (Bloomberg)

Acquisition aids Millipore Corp.

YESTERDAY
Close	$69.52
Change	+$1.04
52-WEEK
High	$76.95
Low	$59.58

Laboratory supplies company Millipore Corp. said its fourth-quarter profit surged as revenue from recently acquired Serologicals Corp. added to the Billerica company's bottom line.

Net income totaled $18.5 million, or 34 cents per share, compared with $1 million, or 2 cents per share, a year ago. Excluding charges, the company posted profit of 90 cents per share.

Revenue surged 49 percent to $383.1 million from $256.3 million. In July, Millipore bought rival Serologicals for $1.4 billion, and revenue from that business contributed about 40 percent of fourth-quarter revenue growth.

Analysts expected profit of 81 cents per share on revenue of $365.2 million. (AP)

Vertex sees loss on drug investment

YESTERDAY
Close	$34.80
Change	-$0.55
52-WEEK
High	$45.38
Low	$29.00

Biotech drug developer Vertex Pharmaceuticals Inc. said it expects a wider loss in 2007 on heavy investment to develop its hepatitis C treatment candidate.

The Cambridge company forecast a loss of $360 million to $390 million, or $300 million to $330 million excluding restructuring charges and stock option expenses, compared with its $206.9 million loss in 2006.

Vertex sees revenue rising to a range of $280 million to $320 million in 2007, from $216.4 million in 2006.

Analysts expect revenue of $290.1 million in 2007.

The company reported its fourth-quarter loss narrowed to $27.3 million, or 22 cents per share, from $38.1 million, or 38 cents per share, as revenue rose 48 percent to $94.3 million. (AP)