Americas
Thursday, 04 August 2011 17:52
1182
CHICAGO: Cardinal Health Inc posted higher quarterly operating earnings on Thursday as revenue in its pharmaceutical segment rose 10 percent, helped by acquisitions.
Earnings from continuing operations grew to $207.3 million, or 59 cents per share, in the fiscal fourth quarter from $193.8 million, or 54 cents per share, a year earlier.
Analysts on average had expected 58 cents per share, according to Thomson Reuters I/B/E/S,
Net earnings were 58 cents per share, compared with 62 cents a year earlier.
Revenue rose 9 percent to $26.76 billion.
Revenue from its pharmaceutical segment total $24.5 billion, fuelled by acquisitions and good demand for generic drugs. Revenue from its medical segment rose 7 percent to $2.3 billion.
For fiscal 2012, the company forecast earnings per share from continuing operations of $3.04 to $3.19, which excludes about 14 cents of amortization of acquisition-related intangible assets.
Cowen and Co analyst Charles Rhyee said the outlook is just shy of what many ...
SAO PAULO: Brazilian steelmaker Gerdau posted second-quarter net income of 503 million reais ($320 million) on Thursday, compared with 856 million raised a year earlier.
The Porto Alegre, Brazil-based company, the world's second-biggest producer of steel products for the construction industry, was expected to earn 534.2 million raised, according to the average estimate of Reuters,
Copyright Reuters, 2011 ...
NEW YORK: US Treasury futures rose slightly in electronic trade after Moody's Investors Service confirmed its Aaa rating of the United States.
The 10 year T-note future was last up 3/32 at 127-2/32. The 30 year T-bond future was last up 2/32 at 130-28/32.
Copyright Reuters, 2011 ...
HOUSTON: Marathon Oil and its former refining arm posted higher quarterly profits on Tuesday but the exploration and production company fell short of expectations as output lagged, and shares of the split-off Marathon Petroleum also fell after its first stand-alone report.
Marathon Oil spun off its refining arm in June in a bid to raise the valuation of both companies and offer better transparency to investors.
The second quarter is the first that the two have reported ...
NEW YORK: The interest rate on US Treasury bills due Aug 4 fell sharply on Monday after a tentative deal among top Washington lawmakers to raise the US debt ceiling soothed anxiety of a US sovereign debt default.
The rate on the T-bill issue, which the government might skip repaying if its statutory $14.3 trillion borrowing limit were not raised by Tuesday, was last quoted at 20 basis points, down more than 5 basis points from ...
NEW YORK: Metals processor Reliance Steel & Aluminum Co's second-quarter profit rose 60 percent as it sold more metal at higher prices per ton.
Net earnings were $98.7 million, or $1.31 per share, compared with $61.5 million, or 83 cents per share, in the same quarter of 2010, the Los Angeles-based company said on Thursday.
Reliance Steel, which buys metal from manufacturers and processes it for specific industry needs, said sales rose 26 percent to $2.05 billion. ...
DETROIT: Auto parts supplier BorgWarner Inc reported a higher-than-expected quarterly profit on Thursday, driven by increased demand for its fuel-economy technologies.
The company, which makes turbochargers, transmission components and other parts, also raised its forecast for 2011 earnings and revenue. It now expects $4.25 to $4.45 per share on an adjusted basis, on a revenue increase of 25 percent to 28 percent.
It previously forecast 2011 earnings of $3.85 to $4.15 per share on a revenue rise ...
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