EARNINGS
Janus Capital Group Inc.: The Denver-based mutual-fund manager on Thursday reported a 7 percent drop in third-quarter net income because of special charges and said new investments in its funds were essentially unchanged, matching an industry trend. Chief executive Gary Black said he believes the company’s performance was strong and that it will “turn the tide” soon. For the quarter ending Sept. 30, Janus reported net income of $29.5 million, or 15 cents a share, down from $31.7 million, or 15 cents a share, in the third quarter of 2005. Analysts surveyed by Thomson Financial had forecast, on average, earnings of 16 cents per share.
Frontier Airlines: The Denver-based carrier said Thursday that a drop in flight bookings after the terrorist threat in August and higher fuel costs cut into profit in the last quarter. Frontier had about $509,000 in net income during its second fiscal quarter ended Sept. 30, or 1 cent a share. That’s down from $6.9 million, or 18 cents a share, in the year-ago quarter. The results included a $3.5 million increase in fuel expenses due to noncash fuel-hedging losses. Revenues in the September quarter increased to $309.9 million from $258.4 million in the year-ago quarter. Frontier expects its December quarterly results to be at or near break – even.
Xcel Energy Inc.: The utility holding company said Thursday its profit rose in the third quarter on rising sales and stronger margins. The Minneapolis-based company said the stronger margins are due to weather-adjusted retail electric sales growth; electric and natural gas rate increases in some areas; and revenue from investments in the Metropolitan Emissions Reduction Project. In the period ended Sept. 30, net income rose to $223.4 million, or 53 cents a share, from $194.96 million, or 47 cents a share, in the prior third quarter. Revenue rose to $2.41 billion from $2.29 billion. Analysts surveyed by Thomson Financial had forecast earnings of 48 cents a share.
Ball Corp.: The Broomfield- based company reported Thursday that its profit climbed 28 percent in the third quarter, crediting higher sales of beverage cans and plastic packaging products. For the quarter that ended Oct. 1, Ball’s net income totaled $101.5 million, or 97 cents per share, compared with net income of $79.3 million, or 73 cents per share, in the third quarter of 2005. Third-quarter revenue totaled $1.82 billion, up from $1.58 billion in the previous third quarter. Analysts polled by Thomson Financial, on average, had forecast earnings of 94 cents per share on revenue of $1.89 billion.
ProLogis: The largest U.S. real estate investment trust focused on warehouses and distribution sites said third-quarter earnings rose 29 percent on higher rental revenue from increased development in Europe and Asia. Net income climbed to $166.3 million, or 65 cents a share, from $129.4 million, or 63 cents, a year earlier, Denver-based ProLogis said in a statement. Rental income soared 58 percent to $243.9 million from $154.3 million.
Microsoft Corp.: The world’s largest software maker said first-quarter profit rose 11 percent as sales of software for server computers surpassed analysts’ estimates. Net income increased to $3.48 billion, or 35 cents a share, from $3.14 billion, or 29 cents, a year earlier. Sales advanced 11 percent to $10.8 billion.
Comcast Corp.: The world’s largest cable-television provider said third-quarter profit soared fivefold on the purchase of Greenwood Village-based Adelphia Communications Corp. and record sales of telephone and digital-television services. Comcast reported net income of $1.22 billion, or 58 cents a share. Sales rose 22 percent to $6.43 billion.
