Frontier Airlines
The Denver-based airline lost $2.7 million for the quarter ended June 30 as it battled against a “fuel headwind.” The average cost of a gallon of fuel increased 42.3 percent year-over-year, adding an additional $19.4 million in the quarter. Frontier’s quarterly loss, which came to 8 cents per share, was narrower than the $6.6 million, or 18 cents per share, it lost in the same period a year ago. Revenue grew to $236.4 million from $192.4 million in the year-ago quarter. Frontier chief executive Jeff Potter said, “We must continue to focus on the costs that we can control as we try to mitigate the volatility of fuel.”
Ball Corp.
The Broomfield-based plastic- and aluminum-containermaker posted a drop in profit for its second quarter Thursday even though revenue rose. Net income came to $79 million, or 71 cents a share, compared with $90.7 million, or 80 cents a share, a year ago, the company said. The latest results included a 5-cent-a-share charge for the closing of a Canadian can manufacturing plant. Analysts surveyed by Thomson Financial had expected second-quarter earnings of 85 cents a share. Revenue rose to $1.55 billion from $1.47 billion a year ago.
ProLogis
The Aurora-based provider of distribution facilities and services on Thursday reported that net earnings fell 2.6 percent in the second quarter to $77.2 million, or 40 cents per share, compared with $79.3 million, or 42 cents a share, last year. The real estate investment trust said adjusted funds from operations were 75 cents per share for the second quarter of 2005, a 15.4 percent increase over the 65 cents reported in the second quarter of 2004.
EnCana Corp.
Canada’s largest natural-gas producer and a major driller on Colorado’s Western Slope said second-quarter profit more than tripled as prices and fuel production rose. Net income surged to $839 million, or 94 cents a share, from $250 million, or 27 cents, a year earlier, the Calgary, Alberta-based company said Thursday. EnCana’s average North American gas price rose 17 percent to $6.25 per thousand cubic feet.
Exxon Mobil Corp.
The world’s largest publicly traded oil producer said second-quarter profit rose 32 percent to $7.64 billion as growing economies in Asia and North America consumed more crude and gasoline. Net income climbed to $1.20 a share from $5.79 billion, or 88 cents a share, a year earlier. Sales rose 25 percent to $88.6 billion, a record for a public company. Profit from oil and natural-gas sales jumped 28 percent to $4.9 billion, the company said.
Raytheon Co.
The world’s largest missilemaker reported second-quarter net income of $201 million on higher revenue from radar for fighter planes and missile defense, and rising sales of business jets. Net income of 44 cents a share compared with a net loss of $108 million, or 25 cents a share, a year earlier, when Raytheon had costs to settle a lawsuit. Sales rose 9.7 percent to $5.4 billion.
