EARNINGS
Time Warner Telecom The Douglas County-based company announced Tuesday that its net loss during the fourth quarter narrowed as revenues grew by 29 percent compared with the same period a year ago. The company posted a net loss of $24.8 million, 18 cents a share, during the quarter, compared with a net loss of $22.3 million, 19 cents a share, in the fourth quarter of 2005. For the year 2006, the company posted revenue of $812.4 million and a net loss of $98.8 million.
Cisco Systems Inc.: The maker of networking equipment said second-quarter profit surged nearly 40 percent benefiting from equipment upgrades to support bandwidth-hogging video downloads. For the quarter that ended Jan. 27, net income was $1.9 billion, 31 cents per share, compared with $1.4 billion, 22 cents per share, for the same period last year. Excluding one-time charges, Cisco said Tuesday it earned $2.1 billion for the quarter, 33 cents per share. The San Jose-based technology bellwether said revenue for the quarter was $8.4 billion, a 27 percent jump from the $6.6 billion in the same period last year. Analysts were expecting on average, 31 cents per share on $8.28 billion in revenue, according to a survey by Thomson Financial.
ProLogis: North America’s largest real estate investment trust focused on industrial sites said fourth-quarter profit more than tripled on higher management fees and rental income. Net income rose to $331.1 million, $1.28 a share, from $109.1 million, 43 cents, a year earlier, Denver-based ProLogis said Tuesday in a statement. Funds from operations, a measure of cash flow used by REITs, almost doubled to $288.9 million, $1.11 a share, from $147.1 million, 58 cents a share, a year earlier.
BP PLC: Declining oil prices and mounting safety spending sent BP’s fourth-quarter profit down 22 percent to a two-year low, the oil company said Tuesday. BP also slashed its growth targets and raised its capital expenditure forecast for this year. BP said adjusted net profit dropped to $2.88 billion, from $3.69 billion a year ago. Revenue for the fourth quarter, including asset disposals, fell 1.6 percent to $62.8 billion.
Anadarko Petroleum Corp.: The Woodlands, Texas-based oil producer said fourth-quarter profit more than doubled as an asset sale masked the impact of lower natural-gas prices. Net income rose to $1.92 billion, $4.13 a share after payment of dividends on preferred stock, from $875 million, $1.87, a year earlier, the company said Tuesday. Revenue in the fourth quarter climbed 66 percent to $3.18 billion.
