Delta Air Lines Inc. The nation’s third-largest carrier reported Thursday a first-quarter loss of $2.1 billion, plunging the bankrupt airline deeper into red ink. Atlanta-based Delta has lost more than $14 billion since January 2001. The results from the quarter ended March 31 compare with a loss of $1.1 billion logged in the same period a year earlier. Analysts surveyed by Thomson Financial were expecting a loss of $2.15 a share in the first quarter. The company did not provide per-share data in its balance sheet.
J.C. Penney Co. Inc. The department-store operator said Thursday that its profit rose 22 percent in the first quarter, as holding overhead costs below the rate of inflation helped the retailer supplement a modest revenue increase. Penney raised its earnings outlook for the year but not as high as analysts were expecting, and the company burned through some of its cash on hand. Penney said it earned $210 million, or 89 cents per share, in the three months ended April 29, compared with $172 million, or 63 cents per share, a year earlier. The earnings were 90 cents a share excluding a charge related to the Eckerd drugstore chain that it sold. Analysts had expected earnings of 88 cents per share, according to a survey by Thomson Financial. Revenue rose 2.5 percent to $4.22 billion from a year ago.
Kohl’s Corp. The low-price department-store company said Thursday that first-quarter profits climbed 34 percent, buoyed by strong sales of home goods and its own clothing brands. The company raised its yearly forecast. Net income increased to $167.2 million, or 48 cents a share, from $124.7 million, or 36 cents a share, a year earlier. Revenue rose 16 percent to $3.18 billion, the Menomonee Falls, Wis.-based company said.
Expedia Inc. The largest U.S. Internet travel agency said first-quarter profits fell on increased marketing. Net income dropped to $23.3 million, or 6 cents a share, from $48 million, or 14 cents a share, a year earlier. Revenue rose to $493.9 million, the Bellevue, Wash.-based company said Thursday in a statement.
Rentech Inc. The Denver producer of clean alternative fuels on Thursday posted a net loss of $12.5 million, or 11 cents per share, compared with a loss of $4.7 million, or 5 cents per share, in the corresponding period of 2005. Revenues increased to $2 million from $1.8 million last year.
