Hospira 4Q profit slips 8 percent on charges
Drug and medical device maker Hospira Inc. said Thursday its profit fell 8 percent in the fourth quarter due to acquisition and restructuring costs.
The company said its profit decreased to $96.7 million, or 58 cents per share, from $104.6 million, or 65 cents per share, a year earlier. Hospira said it earned 87 cents per share excluding one-time costs.
Revenue rose 16 percent to $1.06 billion from $913.7 million, due to greater sales of the generic chemotherapy drug oxaliplatin and the sedative Precedex.
Analysts were expecting a profit of 69 cents per share and $963.5 million in revenue, according to a Thomson Reuters survey.
One-time items in the quarter included amortization charges related to Hospira’s purchase of Mayne Pharma in 2007, and costs related to Hospira’s Project Fuel restructuring and job-cutting plan. [Read the full article]
Astronics Corporation (NASDAQ: ATRO – News), a trusted leader in innovative, high performance lighting, electrical power management and automated test systems for the global aerospace and defense industries, announced today that it will release its fourth quarter 2009 results before the opening of financial markets on Tuesday, February 9, 2010.
The release of the financial results will be followed by a company-hosted teleconference on at 11:00 a.m. ET. During the teleconference, Peter J. Gundermann, President and CEO, and David C. Burney, Vice President and CFO, will review the financial and operating results for the period and discuss Astronics corporate strategy and outlook. A question-and-answer session will follow.
DG FastChannel, Inc. (NASDAQ: DGIT – News) announced today that it will report its fourth quarter and full year 2009 financial results before the market opens on Tuesday, February 16, 2010. The Company will host a conference call and webcast at 11:00 a.m. ET that morning to review the results.
Scott Ginsburg, Chairman & CEO, Omar Choucair, CFO and Neil Nguyen, President & Chief Operating Officer will recap fourth quarter and full year financial results and accomplishments. To access the conference call by telephone, interested parties may dial 800/901-5226 and enter passcode 68560777. Please call five minutes in advance to ensure that you are connected. Participants can access the webcast through the Company website at www.dgfastchannel.com. For the webcast, please allow 15 minutes to register and download and install any necessary software. [Read the full article]
Concerns that food makers would overdo price cuts to lure cautious consumers weighed on Kellogg Co (NYSE:K – News) and Sara Lee (NYSE:SLE – News), even though both forecast better-than-expected 2010 earnings.
Cost-cutting measures helped Sara Lee post quarterly profit that beat analysts’ estimates, while analysts said Kellogg missed estimates due to higher-than-expected interest costs for debt refinancing and a drop in profit in its international business.
Kellogg shares were down more than 4 percent on Thursday afternoon, while Sara Lee shares dipped 0.4 percent.
Falling prices for some commodities have helped food makers cut prices and offer one-time promotions. [Read the full article]