Western Union Co.: The Douglas County-based international money-transfer-services provider said Wednesday its fourth- quarter profit dropped 7 percent, hurt mainly by higher corporate overhead and interest costs related to its spinoff from First Data Corp. in September. Western Union reported earnings for the quarter ended Dec. 31 of $217.2 million, 28 cents a share, down from $233.9 million, 31 cents a share, in the prior-year quarter. Revenue grew 10 percent to $1.17 billion from $1.07 billion in the 2005 period. The results beat analysts’ consensus view of 26 cents per share and were in line with revenue estimates, according to a Thomson Financial poll.
Xcel Energy: The operator of utilities in Colorado and Minnesota on Wednesday announced income of $569 million, $1.35 per share on a diluted basis, for 2006, compared with $499 million, $1.20 per share, in the previous year. Increased earnings were primarily the result of electric-rate increases in various jurisdictions, electric sales growth and revenue associated with investments.
Eastman Kodak Co.: After wading through a river of red ink for two years, Eastman Kodak finally hauled in a modest profit in the fourth quarter. For the first time, it generated more earnings from digital photography and commercial printing than from its film business. Kodak earned $16 million, 6 cents a share, in the October-December period. That compared with a year-earlier loss of $46 million, 16 cents a share, when Kodak took hefty charges linked to its mammoth, four-year digital overhaul, which it plans to wrap up this year. Sales fell 9 percent to $3.821 billion from $4.197 billion.
Google Inc.: Fourth-quarter profit nearly tripled amid another burst of growth that enabled the online search leader to sprint past analysts’ expectations – a habit that has helped propel its stock price above $500. The Mountain View, Calif.-based company said Wed nesday it earned $1.03 billion, $3.29 per share, during the final three months of 2006. That compared with net income of $372.2 million, $1.22 per share, for the same period in 2005. Revenue for the period totaled $3.2 billion, a 67 percent increase from $1.92 billion in the prior year.
Time Warner Inc.: The world’s largest media company said profit jumped 34 percent in the fourth quarter, boosted by the sale of Internet-access businesses in Europe, a tax benefit and a deal that added new subscribers to its cable-TV unit. Publisher Time Inc. and the second- largest cable-TV operator in the country said Wednesday it earned $1.75 billion, 44 cents per share, for the three months ended in December, up from $1.3 billion, 28 cents a share, in the same period a year earlier. Revenues rose 8 percent to $12.5 billion from $11.5 billion.
Starbucks Corp.: The world’s largest specialty-coffee retailer said Wednesday that its fiscal first-quarter profit climbed nearly 18 percent on a record number of store openings. For the 13 weeks ended Dec. 31, Starbucks posted net earnings of $205 million, 26 cents a share, compared with $174 million, 22 cents a share, for the same period a year earlier. Analysts polled by Thomson Financial were expecting profit of $202.6 million, 26 cents per share.
