Cisco Systems
The world’s largest maker of computer networking gear said earnings fell 46 percent in its latest quarter, but the profit beat Wall Street expectations, and the company said the quarter may have been the bottom of the recession-related downturn.
The San Jose, Calif.-based company posted a profit of $1.1 billion, or 19 cents a share, for the fiscal fourth quarter, which ended July 25. That was down from $2 billion, or 33 cents a share, in the same quarter last year. Sales fell 18 percent to $8.5 billion.
Procter & Gamble
Fourth-quarter profit fell 18 percent, and the consumer products maker said Wednesday that it expects more declines as households around the globe keep tight reins on spending in the recession.
Procter & Gamble reported earnings of nearly $2.5 billion, or 80 cents a share, in the three months that ended June 30. That’s down from $3 billion, or 92 cents a share, a year ago.
Analysts expected earnings per share of 79 cents. Revenue fell 11 percent to $18.7 billion.
Dean Foods
The biggest U.S. dairy-product maker fell the most in almost nine months in New York trading after its full-year profit forecast fell short of analysts’ estimates.
Dean Foods declined $1.96, or 9.2 percent, to $19.38 in New York Stock Exchange composite trading, the biggest decline since Nov. 12.
Net income rose to $64.1 million, or 38 cents a share, from $48.9 million, or 31 cents, a year earlier, Dean Foods said Wednesday. Sales fell 14 percent to $2.68 billion.
News Corp.
The global media giant controlled by Rupert Murdoch said Wednesday that its fourth-quarter loss totaled $203 million because of huge charges at MySpace, and its operating profit for the year was slightly worse than it predicted because of the weak economy. Results for the quarter narrowly beat analyst expectations.
The quarterly loss of 8 cents a share compares with profit of $1.1 billion, or 43 cents a share, in the same quarter a year ago. The results included a $450 million impairment charge and $180 million for restructuring charges at Fox Interactive Media, which includes MySpace.
