MDC Holdings Inc. The Denver-based homebuilder reported higher income from increased home sales and higher average selling prices, beating Wall Street expectations. MDC posted fourth-quarter income of $197.5 million, or $4.29 per share, compared with net income of $142.6 million, or $3.17 per share, for the same period in 2004. Revenues rose 29 percent to $1.7 billion.
Intel Corp. The world’s largest chipmaker missed Wall Street expectations Tuesday as it faced lower-than-expected average selling prices and continued difficulties in meeting demand. Intel earned $2.45 billion, or 40 cents per share, compared with a profit of $2.12 billion, or 33 cents per share, in the same period last year. Sales jumped 6 percent to $10.2 billion from $9.6 billion in the last quarter of 2004.
Continental Airlines Inc. The carrier posted a $43 million loss, its first in three quarters, as fuel costs surged. Continental forecast a “significant” loss this quarter, and its shares fell 11 percent, the most in a year. The fourth-quarter net loss narrowed to 53 cents a share, from $208 million, or $3.16, a year earlier. Continental’s sales rose 17 percent to $2.85 billion on higher traffic and fares.
International Business Machines Corp. A new line of mainframe computers and positive trends in the chip business boosted fourth-quarter results at IBM, where net profit rose 13 percent and beat Wall Street expectations Tuesday. In the last three months of 2005, IBM earned $3.19 billion, or $1.99 per share, on revenue of $24.4 billion. The results were pulled down 10 cents per share by a $267 million charge stemming from IBM’s recent decision to freeze its pension plan for U.S. workers in 2008.
