WellPoint Inc. The health insurer more than tripled its fourth- quarter profits, meeting its earnings expectations for the year following the merger of Anthem Inc. and WellPoint Health Networks Inc. WellPoint reported fourth-quarter net income of $652 million, or $1.04 per share, including net realized investment losses of 1 cent per share. Net income for the fourth quarter of 2004 was $184.5 million, or 46 cents per share, which was for Anthem only.
General Dynamics Corp. The defense conglomerate reported a 21 percent increase in fourth- quarter earnings Wednesday, thanks to revenue growth in all segments of its business. The Falls Church, Va.-based contractor reported earnings of $406 million, or $2 per share, in the final three months of 2005, compared with $336 million, or $1.66 per share, in the year-ago quarter. The earnings beat the consensus estimate of Wall Street analysts surveyed by Thomson First Call, who predicted earnings of $1.97 a share.
Hershey Co. The biggest U.S. chocolate maker said fourth- quarter profit increased 3.1 percent, helped by new products and acquisitions. The shares had their biggest drop in more than three years after revenue fell short of analysts’ estimates. Net income rose to $172.8 million, or 70 cents a share, from $167.1 million, or 67 cents, a year earlier, the Hershey, Pa.-based company said Wednesday. Sales gained 6.7 percent to $1.35 billion, less than the 8.7 percent increase forecast by Thomson Financial.
The McClatchy Co. The newspaper publisher reported a 5 percent decline in fourth-quarter earnings Wednesday as weak advertising sales in December pulled results below expectations. Profits fell to $45.4 million, or 97 cents per share, for the October-December period, from $47.8 million, or $1.02 per share, in the same period a year ago. Revenue edged up to $309.8 million from $308.2 million.
BellSouth Corp. The dominant local telephone provider in nine Southeastern states said Wed nesday that heavy hurricane-related costs contributed to a more-than-54 percent drop in fourth-quarter profits that occurred despite a slight increase in revenue and solid gains in DSL customers. Still, its results, excluding certain one-time items, beat Wall Street expectations, and its stock rose nearly 2 percent. The Atlanta-based company said it earned $618 million, or 34 cents a share, for the three months ending Dec. 31, compared with a profit of $1.36 billion, or 74 cents a share, in the same period a year ago.
Creative Technology Ltd. Fighting a losing battle with Apple Computer Inc.’s iPod, the company reported a decline in second-quarter net income after cutting prices on its digital music players. Net income fell 31 percent to $8.2 million, or 10 cents a share, from $11.8 million, or 14 cents, a year ago, the Singapore-based company said in a statement. Excluding a $6.9 million investment gain, Creative would have posted a profit of $1.3 million, or 2 cents a share. Sales in the three months ended Dec. 31 rose 4.2 percent to $390.8 million.
Alliance Capital Management Holding LP The New York-based company, which oversees $579 billion, said fourth-quarter earnings climbed 31 percent to a six-year high because of a rise in fees linked to investment returns. Net income increased to $85.8 million, or $1.02 a share, from $65.6 million, or 80 cents, a year earlier, the company said in a statement Wednesday. Performance fees at Alliance, which will change its name to AllianceBernstein Holding LP next month, increased 19 percent to $92 million.
Burlington Resources Inc. The U.S. oil and natural-gas producer being acquired by ConocoPhillips said fourth-quarter net income surged to $927 million, from $400 million a year ago. Per-share profit rose to $2.45 from $1.02, the Houston-based company said Wednesday in a statement distributed by Business Wire. ConocoPhillips last month agreed to buy Burlington for $35.6 billion.
