Liberty Global Inc. The cable and Internet service provider on Wednesday posted a sharp increase in first-quarter profit resulting from a gain on the sale of operations and higher revenue. Earnings soared to $268.2 million, or 52 cents per share, from year-ago profit of $16.5 million, or 5 cents per share. The increase was largely because of a $223.1 million gain on the sale of discontinued operations. Revenue rose 40 percent to $1.63 billion, from $1.18 billion a year ago. Analysts expected the Doug las County-based company to earn a penny per share, excluding one-time gains, on $1.61 billion in revenue, according to a Thomson Financial poll.
Intrawest Corp. The ski-resort operator and land developer reported lower-than-expected third-quarter earnings, citing higher depreciation and amortization expenses. Profit was $61 million, or $1.23 per diluted share, for the quarter ended March 31, compared with $62.7 million, or $1.31 a share, in the same period last year. The Vancouver, British Columbia-based company said skier visits to its two Colorado resorts – Copper Mountain and Winter Park Resort – were up by 9 percent in the first three months of the year, thanks to good snow conditions.
ProLogis The Denver-based provider of distribution facilities said first-quarter net income rose from a year ago, driven by demand for distribution properties as occupancies and leases posted gains, according to a filing Wednesday with the Securities and Exchange Commission. ProLogis said quarterly earnings were 72 cents a share, compared with 29 cents in the year-ago period. The real-estate investment trust reported net earnings attributable to common shares of $183.2 million for the three months ended March 31, 2006, compared with $55.1 million for the same period of 2005. The increase in net earnings in 2006 over 2005 is primarily because of the Catellus merger, the termination of Funds II-IV, improved property operating performance, and gains on dispositions of assets to third parties.
Archstone-Smith The Denver- based real-estate investment trust reported earnings per share of 58 cents for the first quarter, compared with the 32 cents per share reported for the same period in 2005. Funds from operations were 80 cents per share in the first quarter of 2006, compared with 49 cents per share for the first quarter of 2005.
Ball Corp. The Broomfield-based manufacturer of metal and glass containers, which has a Boulder-based aerospace subsidiary, reported first-quarter earnings of $44.6 million on sales of $1.37 billion, compared with earnings of $58.6 million on sales of $1.32 billion in the same period last year. First-quarter results last year reflected unusually strong sales of metal food cans in advance of announced price increases in steel used to manufacture cans, the company said.
