Interactive Data revenue rises 19 percent

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Interactive Data Corp., a Bedford provider of market data and related services to financial institutions and traders, said fourth-quarter profit edged up about 1 percent on higher revenue.

Net income climbed to $24.8 million, or 26 cents per share, versus $24.6 million, or 26 cents per share, in the prior-year period, meeting the expectations of analysts surveyed by Thomson Financial.

The current quarter's results include a stock-based compensation charge of $1.9 million. Revenue increased 19 percent to $161.1 million from $136 million.

For the year, earnings slid about 1 percent to $93.4 million, or 98 cents per share, compared with $93.9 million, or 98 cents per share, in 2005. Revenue gained 13 percent to $612.4 million versus $542.9 million a year ago.

The company also said it anticipates its full-year 2007 earnings to grow in the high single-digit to low double-digit range, with sales climbing between 6 and 9 percent. (AP)

Higher taxes hit

JC Penney in period

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Department store chain JC Penney Co. said fourth-quarter profit fell 13 percent partly due to higher taxes, and it predicted a weaker first quarter than Wall Street expected.

Net income for the three months ended Feb. 3 fell to $477 million, or $2.09 per share, from $551 million, or $2.34 per share, a year earlier.

Earnings from continuing operations were $2 per share compared with $1.92 per share a year ago.

Analysts surveyed by Thomson Financial expected adjusted earnings of $1.97 a share.

Revenue grew 7 percent to $6.66 billion, slightly higher than $6.20 billion a year ago and about even with analysts' forecasts of $6.64 billion.

Same-store sales, or sales in stores open at least one year, a key measure for retailers, grew 2.2 percent in the quarter.

On the cost side, income taxes jumped 51 percent to $271 million. Officials said they got benefits a year ago, when the income-tax bill was $179 million, that weren't repeated.

In the fiscal year that just ended, Penney earned $1.15 billion, or $4.96 per share.

That's up 6 percent from $1.09 billion, or $4.26 per share the year before.

Revenue also grew 6 percent, to $19.90 billion from $18.78 billion. (AP)

OfficeMax profit

beats estimates

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Office supplier OfficeMax Inc. said its turnaround program was taking hold as it swung to a profit in the fourth quarter from a year-ago loss.

Its shares reached a 52-week high in morning trading.

After paying preferred dividends, the company earned $57 million, or 76 cents per share, in the three months ended Dec. 30 compared with a loss of $44.1 million, or 62 cents per share, during the year-ago period.

Last year, the company was hampered by a $20.5 million loss from discontinued operations as well as higher rent and other costs as it continued a turnaround effort.

Excluding one-time charges relating to a headquarters consolidation, the closure of a facility, severance, and a credit related to the 2004 sale of some assets, earnings for the latest quarter were 48 cents per share, ahead of Wall Street forecasts.

Revenue for the nation's number three office supplies retailer fell 8 percent to $2.26 billion from $2.46 billion in the prior-year quarter.

Analysts polled by Thomson Financial expected net income of 40 cents per share on revenue of $2.31 billion. (AP)

Hollister expansion

lifts Abercrombie

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Teen retailer Abercrombie & Fitch Co. said fourth-quarter earnings jumped 20 percent, to $198.2 million, or $2.14 per share, powered by strong sales as the company continues to expand Hollister stores.

That compared with profits of $164.6 million, or $1.80 per share, a year ago.

Sales rose 18 percent to $1.14 billion from $960.4 million a year ago. Sales at stores open at least a year fell 3 percent after jumping 28 percent a year ago.

Analysts surveyed by Thomson Financial expected earnings of $2.14 a share on revenue of $1.1 billion.

But shares slid after the company said its profit for the first half of the fiscal year would match or fall below Wall Street estimates due to higher labor costs.

The company forecast profit of $1.47 to $1.52 per share for the first half of the fiscal year that started Feb. 4, a 10 to 13 percent increase over the first half of 2006.

Analysts were looking for profits of $1.52 per share.

Abercrombie also said the costs of opening a store in London along with difficult comparisons to last year's tax rate would keep earnings growth in the midsingle digit range in the first quarter.

Fourth-quarter profits included $3.5 million from gift cards sold but never redeemed, the company said. (AP)