Cisco Systems Inc.: The networking-gear provider reported a slightly lower fiscal third-quarter profit as stock-option expenses ate into sales that grew more than 18 percent. Net income for the three months ending April 29 was $1.4 billion, or 22 cents a share, compared with $1.41 billion, or 21 cents a share, in the same quarter of 2005. Sales rose to $7.3 billion from $6.2 billion last year, helped by the acquisition of Scientific-Atlanta Inc., which was completed in February.
Walt Disney Co.: The No. 2 U.S. media company said second- quarter profit rose 12 percent, boosted by sales gains at theme parks and the ABC broadcast network. Net income rose to $733 million, or 37 cents a share, from $657 million, or 31 cents a share, a year ago, Burbank, Calif.-based Disney said in a statement. Sales rose 2.5 percent to $8.03 billion in the period ended April 1.
Western Gas Resources Inc.: The Denver-based energy company on Tuesday posted a 214 percent increase in net income and an 18 percent increase in production during the first quarter. Western Gas had a profit of $61.9 million, or 81 cents per share, compared with income of $19.7 million, or 26 cents per share, for the same period last year. Revenues for the period ended March 31 rose 18.6 percent to $989.1 million from $834.1 million last year. Net production was the equivalent of 16.9 billion cubic feet of natural gas and averaged 187.5 million cubic feet per day.
Forest Oil Corp.: The Denver firm on Tuesday said first-quarter earnings fell as the company sold its offshore operations and had lingering production problems from last year’s hurricanes. Net income fell to $3.67 million, or 6 cents per share, from $38.9 million, or 63 cents per basic share, a year ago. Revenue fell to $221.4 million from $260.3 million last year.
Air Methods Corp.: The Arapahoe County-based provider of air medical transportation said first-quarter revenue increased 30.5 percent to $89.4 million from $68.5 million in the year-ago quarter. Net income rose to $2.6 million, or 21 cents per share, compared with a loss of $468,000, or 4 cents per share, last year. The company’s shares plummeted $5.71, or 19 percent, to close at $24.02.
Bill Barrett Corp: The Denver- based energy company on Tuesday reported that production for the first quarter was a record 13.1 billion cubic feet of natural-gas equivalent. Barrett also said net income in the quarter was $22.1 million, or 50 cents per share, compared with $3.1 million, or 7 cents per share, in the first quarter of 2005. Revenues were up 88 percent to $97.8 million from $51.9 million last year.
Apex Silver Mines Ltd.: The Denver-based company, which explores for silver in South America, said its first-quarter loss widened by 12 times to $60.6 million on wrong-way bets on commodity derivatives. The company’s loss was $1.18 a share, compared with $4.85 million, or 10 cents a share, a year earlier, Apex Silver said in a filing with the Securities and Exchange Commission.
