Windows, Office boost Microsoft

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Microsoft Corp., the world's biggest software maker, said fiscal third-quarter earnings rose 65 percent on sales of its new Windows and Office programs. Sales may top analysts' estimates next fiscal year, sending the shares higher.

Net income climbed to $4.93 billion, or 50 cents a share, from $2.98 billion, or 29 cents, a year ago, beating the 46-cent average projection of 20 analysts surveyed by Bloomberg. Sales increased 32 percent to $14.4 billion, the company said.

Microsoft said profit for the fiscal year that begins July 1 will be $1.68 to $1.72 a share on sales of $56.5 billion to $57.5 billion. Analysts on average had estimated profit at $1.70 and $56.6 billion in sales.

For this quarter, profit will be 37 cents to 39 cents on sales of $13.1 billion to $13.4 billion. The company had profit of 28 cents and sales of $11.8 billion a year ago. (Bloomberg)

1st quarter income increases at NStar

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NStar's first-quarter net income rose to $47.8 million, or 45 cents a share, from $44 million, or 41 cents a share, in the year-earlier period on improved gas and electric sales.

The Boston public utility holding company's operating revenue fell to $984.4 million, from $1.03 billion. (Dow Jones)

Exxon Mobil sales hurt by oil prices

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Exxon Mobil Corp., the world's largest publicly traded oil company, said its net income grew 10 percent in the first quarter, as higher refining, marketing, and chemical profit margins overcame lower crude oil and natural gas prices from a year ago.

The earnings of $9.3 billion were the company's highest ever for the first quarter and beat Wall Street expectations, but revenue fell well short of analysts' forecasts.

Net income amounted to $1.62 per share for the period. That was up from $8.4 billion, or $1.37 per share, a year ago. Analysts were looking for a profit of $1.52 per share.

Revenue fell to $87.2 billion from $88.9 billion a year earlier, well below the $100 billion analysts had forecast. Like other major oil companies, Exxon Mobil was hurt by lower oil and natural gas prices to start 2007 compared with a year ago. (AP)

First Marblehead profit climbs 20%

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Student-loan servicer First Marblehead Corp. said its fiscal third-quarter profit climbed 20 percent as the volume of loans it could resell in capital markets grew.

For the quarter ended March 31, net income rose to $71.2 million, or 75 cents per share, from $59.2 million, or 62 cents per share, in the prior-year quarter. Excluding an adjustment to prepayment and discount rate assumptions because of the current interest rate and securitization environment, profit totaled 86 cents per share in the latest period.

Revenue grew 20 percent to $180.2 million from $150.5 million in the third quarter of 2006. Analysts polled by Thomson Financial were looking for earnings of 83 cents per share on revenue of $198.6 million. (AP)

Loss narrows at Millennium

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Millennium Pharmaceuticals Inc., which makes drugs for cancer and inflammatory diseases, said its first-quarter loss narrowed on a roughly 10 percent drop in costs and expenses.

The Cambridge company reported a net loss of $6.8 million, or 2 cents per share, compared with a loss of $20.8 million, or 7 cents per share, last year. Excluding one-time costs, Millennium reported a profit of $12.7 million, or 4 cents per share.

Sales slipped to $110.7 million from $122.5 million mostly due to revenue from strategic alliances falling to $15.7 million from $38.6 million last year. Analysts expected a break-even quarter on sales of $110.1 million. (AP)

Acquisition pushes Thermo Fisher

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Thermo Fisher Scientific Inc. reported a sharply higher first-quarter profit, boosted by a $10.6 billion acquisition completed in November that more than doubled the newly renamed company's revenue and work force. The company's shares soared nearly 7 percent.

Excluding costs from the acquisition, the maker of scientific instruments and laboratory supplies beat Wall Street's profit and revenue expectations, and raised its full-year profit forecast.

In its first full quarter as a combined company following the acquisition's completion Nov. 9, the Waltham-based firm reported net income of $138.9 million. The 11,000-employee Thermo Electron acquired Hampton, N.H.-based Fisher Scientific, which had 19,500 workers.

Yesterday's results were nearly triple the net income of $46.9 million in last year's first quarter, when the former Thermo Electron was a standalone company.

Revenue more than tripled from $684.3 million to $2.34 billion, beating the consensus forecast of analysts surveyed by Thomson Financial, who expected revenue of $2.24 billion.

Not counting charges from the acquisition, Thermo Fisher Scientific's first-quarter profit was 59 cents per share, beating analysts' estimate of 53 cents. (AP)

European sales narrow Ford's loss

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Ford Motor Co. posted a $282 million first-quarter loss that was narrower than analysts expected as redesigned autos boosted profits in Europe.

Losses increased in North America on plunging sales of big pickup trucks and sport-utility vehicles. The loss, the smallest in five quarters, narrowed to 15 cents a share from $1.42 billion, or 76 cents, a year earlier.

The wider North American loss is a setback for new chief executive Alan Mulally, whose job cuts and plant closings are focused on the continent. The European profits overshadowed worsening results in all other overseas regions as well as in financial services.

Excluding costs the Dearborn, Mich.-based company considers one-time expenses, the loss was $171 million, or 9 cents. On that basis, Ford was expected to report a loss of 60 cents a share, the average estimate of 14 analysts surveyed by Bloomberg.

Revenue rose 5.4 percent to $43 billion, and the company said a North American production cut won't be as steep as planned.