Verizon Communications Inc.: Verizon Wireless added 2.3 million customers, most of them prized monthly subscribers, to put a shine on a fourth quarter when Verizon Communications’ profit was cut by restructuring costs. In reporting the 38 percent drop in quarterly profit Monday, Verizon also emphasized that growth in its DSL and new FioS Internet businesses has outpaced the loss of traditional telephone customers. In the final three months of 2006, Verizon earned $1.03 billion, 35 cents per share, down from $1.66 billion, 59 cents per share, in the fourth quarter of 2005.
Mattel Inc.: The world’s largest toymaker, said Monday its fourth-quarter profit rose 3 percent, boosted by strong sales of its Barbie and Fisher-Price toys, including the popular T.M.X. Elmo doll. Mattel, based in El Segundo, Calif., reported net income of $286.4 million, 75 cents per share, for the three months that ended Dec. 31, compared with $279.2 million, 69 cents per share, a year earlier. Revenue expanded 14 percent to $2.11 billion from $1.84 billion a year earlier. The results easily beat estimates from analysts surveyed by Thomson Financial, who had expected earnings of 67 cents per share on revenue of $1.99 billion.
Phelps Dodge Corp.: The mining company, set to be acquired by Freeport-McMoRan Copper & Gold Inc., said fourth-quarter profit surged because of higher copper prices and a gain from its failed takeover of Inco Ltd. Net income rose to $1.32 billion, $6.50 a share, from $121.3 million, 60 cents a share, a year earlier, Phoenix-based Phelps said Monday in a statement. Sales jumped 43 percent to $3.24 billion.
Tyson Foods Inc.: The world’s largest maker of meat products posted its first profitable quarter in a year Monday but warned that a “dramatic rise” in corn prices caused by new demand for ethanol will raise the cost of poultry and livestock fed with the grain. The company earned $57 million, 16 cents per share, in the first quarter, up from $39 million, 11 cents per share, a year prior. Revenue rose 2 percent to $6.56 billion from $6.45 billion a year earlier.
