Earnings roundup

0 Comments | Deseret News (Salt Lake City), May 10, 2007 | by Deseret Morning News

Several companies, including some that are based in Utah or have ties to the state, reported financial results on Wednesday.

News Corp.

News Corp., which disclosed a surprise bid for Dow Jones & Co. last week, reported 6.2 percent higher profit on gains at its movie studio and cable networks, including Fox News Channel.

Profit was $871 million in its third fiscal quarter ended March 31, up from $820 million in the same period a year ago. Revenue rose 21.5 percent to $7.5 billion.

The earnings were equivalent to 27 cents per share, up from 26 cents per share a year ago.

NPS

New Jersey-based NPS Pharmaceuticals Inc. reported a net loss of $21.1 million, or 45 cents per share, for the quarter ended March 31. That compares with a loss of $38.3 million, or 83 cents per share, for the same quarter a year earlier.

Revenues totaled $10 million, up from $6.1 million a year earlier.

The company once was headquartered in Salt Lake City but has announced plans to leave Utah.

It said Wednesday that it will sell its pilot manufacturing and laboratory facility in Canada for $4.3 million and has agreed to repurchase its Salt Lake laboratory and office facility for $20 million. It previously sold the Salt Lake facility in a sale- leaseback transaction, but it will buy the building "in order to exit from its long-term lease obligation and intends to sell the facility as soon as practical."

NPS stock fell 7 cents Wednesday to close at $3.77 per share. During the past year, the price has ranged from $3.25 to $6.05.

FX Energy

Salt Lake-based FX Energy Inc. reported a net loss of $2.6 million, or 7 cents per share, for the first quarter ended March 31. That compares with a loss of $4.2 million, or 12 cents per share, for the same quarter last year.

Revenues totaled $4.2 million, up from $1 million a year earlier.

FX is an independent oil and gas exploration and production company focused on production in Montana and exploration in Poland.

The company's stock rose 3 cents Wednesday to close at $8.72 per share. During the past year, the price has ranged from $3.87 to $9.14.

Specialized Health

Bountiful-based Specialized Health Products International Inc. reported net income of $304,000, or less than a penny per share, for the first quarter ended March 31. That compares with a loss of $543,000, or 1 cent per share, for the same quarter in 2006.

Revenue totaled $4.2 million, up from $2 million a year earlier.

Specialized Health merged with Med-Design Corp. last June.

The company develops, manufactures and markets disposable medical products.

Specialized Health stock was unchanged Wednesday at 80 cents per share. During the past year, the price has ranged from 35 cents to 99 cents.

Barnes

Connecticut-based Barnes Group Inc. reported net income of $27.7 million, or 50 cents per share, for the quarter ended March 31. That compares with $18.5 million, or 36 cents per share, for the same quarter in 2006.

Sales were a company-record $360.7 million, up from $299.9 million a year earlier. Barnes Aerospace contributed $91.2 million, up from $66.9 million a year ago.

Barnes Group is an international aerospace and industrial components manufacturing and distribution company with three businesses -- Barnes Aerospace, Barnes Distribution and Barnes Industrial -- with more than 6,600 employees at more than 65 locations. Barnes Aerospace has a facility in Ogden specializing in the fabrication and assembly of airframe and engine components.

Barnes Group stock rose $3.81 Wednesday to close at $28.61 per share. During the past year, the price has ranged from $15.28 to $26.37.

Whole Foods

Whole Foods Markets Inc. said first-quarter profit fell 11.2 percent as the natural and organic foods giant continued to show slower growth in sales.

Austin-based Whole Foods said it earned $46 million, or 32 cents per share, in the quarter ended April 8, down from $51.8 million, or 36 cents per share, a year earlier.

Revenue increased 11.5 percent to $1.46 billion. Same-store sales, a key measure in retailing, rose 5.1 percent.

DirecTV

DirecTV Group Inc., the nation's largest satellite TV operator, said its first-quarter profit rose 43 percent from a year ago as more subscribers signed on for high-profit offerings and fewer canceled their service.

Net income climbed to $336.4 million, or 27 cents per share, in the three months ended March 31 from $235.2 million, or 17 cents per share, a year ago.

Revenue climbed 15 percent to $3.91 billion from $3.39 billion last year.

HealthSouth

HealthSouth Corp., the largest U.S. chain of rehabilitation hospitals, said its net loss was $56.6 million, or 80 cents a share, compared with $435.1 million, or $5.47, a year ago.

Revenue increased to $448.6 million from $441.6 million, said the company, which is based in Birmingham, Ala.

Contributing: Brice Wallace; The Associated Press; Bloomberg News