Merck & Co. The drugmaker’s third-quarter profit rose 7.2 percent from a year earlier, when it had $553 million in costs for the recall of the painkiller Vioxx. Sales dropped 2.2 percent, the third straight decline. Net income increased to $1.42 billion, or 65 cents a share, from $1.33 billion, or 60 cents, a year earlier, Whitehouse Station, N.J.- based Merck said in a statement Monday. Sales dropped to $5.42 billion from $5.54 billion.
Halliburton Co.The oilfield services conglomerate on Monday reported a profit for the third quarter, reversing a year-ago loss, bolstered by strong sales and increased rig activity from its energy services unit. Quarterly profit rose to $499 million, or 95 cents per share, from a loss of $42 million, or 9 cents per share, last year. Profit from continuing operations also reached $499 million, or 95 cents per share, compared with $186 million, or 42 cents per share, in the third quarter of 2004. Revenue rose to $5.1 billion, up 6 percent from last year’s $4.79 billion. The results beat Wall Street projections for earnings of 82 cents per share, but missed revenue expectations of $5.24 billion.
Kimberly-Clark Corp. The world’s top maker of personal paper products including Kleenex and Scott tissue, said Monday its third-quarter profit fell 26 percent on charges related to streamlining its business, but results met Wall Street’s expectations. Earnings declined to $325.3 million, or 68 cents per share, from $441.3 million, or 89 cents per share, last year. Excluding the charges, earnings rose to $451.7 million, or 95 cents per share. Sales climbed to $4 billion, up 6 percent from $3.78 billion a year earlier.
Clear Channel Communications Inc.The radio and advertising company on Monday reported a 21 percent drop in earnings in the third quarter despite a slight rise in revenue, as the company faced higher costs in each of its key businesses. Clear Channel said it earned $205.5 million in the quarter ended Sept. 30, down from $261.2 million in the third quarter of 2004. The income works out to 38 cents per share, which matched the forecast of analysts surveyed by Thomson Financial.
Schering-Plough Corp. The pharmaceutical company said net income rose to $43 million, or 3 cents a share, from $14 million, or 1 cent, a year earlier. Sales rose 15 percent to $2.3 billion.
