By Julie Wernau |
Wind turbine manufacturer Broadwind Energy, Inc., based in Naperville,
reported a net loss in the first quarter of $14.1 million on revenue of
$22.2 million due to a decrease in demand for wind farm installations
the company said spread from late 2008 through summer of 2009. That
compares with a net loss of $7.2 million on $53.1 million in revenue
last year.
Filed under: Earnings
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Broadwind reports higher losses in 1Q
Chicago stocks for Thursday
| GAINERS | % | LOSERS | % | MOST ACTIVE | Vol (Mil) |
| InnerWorkings | +2.67 | Federal Signal | -12.47 | Motorola | 45.96 |
| Baxter International | +0.77 | Strategic Hotels | -10.80 | UAL Corp | 22.47 |
| Treehouse Foods | +0.60 | UAL Corp | -9.15 | Sara Lee | 21.20 |
| SPSS Inc. | +0.04 | Smurfit-Stone | -8.20 | Kraft Foods | 20.82 |
| Career Education | -0.47 | Littelfuse | -6.52 | Caterpillar | 19.36 |
See results from Chicago’s
Top 100 companies.
Kraft profit rises in first quarter
Associated Press | Kraft Foods Inc.’s profit rose sharply in the first quarter as it began to integrate British candy maker Cadbury into its business. Kraft, which is the nation’s largest U.S. food maker, reported late Thursday that it earned $1.88 billion, or $1.16 per share, for the quarter that ended March 31. That’s up from $660 million, or 45 cents per share, in the same quarter last year.
Get the full story: Kraft profit rises in first quarter.
Playboy reports smaller-than-expected 1Q loss
From Reuters | Chicago-based Playboy Enterprises on Thursday reported a smaller-than-expected first quarter loss, thanks to cost cutting. But the company warned of revenue declines as readers and advertisers migrate to the Internet.
Get the full story: reuters.com.
S&P lowers Baxter outlook but maintains ratings
Associated Press | Standard & Poor’s Ratings Services reduced
its outlook on Baxter International Inc. Thursday, but said Baxter’s
diverse range of products will help it deal with a recall of its drug
infusion pumps.
Standard & Poor’s said its view of Baxter’s credit is “Stable,” down
from a previous “Positive” outlook. The firm maintained its
investment-grade “A+” corporate credit rating on the company.
Littelfuse sees first-quarter sales soar
By Julie Wernau | Sales soared in the
first quarter for Chicago-based Littelfuse, and the company said it is
making good progress toward climbing back to its revenue levels from before the
downturn. Littelfuse manufactures circuit protection components for products that use electrical energy, including automobiles,
computers and handheld devices. The company said it is benefiting from a steady
recovery in those markets.
Sales for the first quarter of 2010
were $144.4 million, a 71 percent increase over the first quarter of
2009 and a 13 percent increase over the previous quarter. The company
saw higher-than-expected operating expenses as higher consumer demand
increased freight costs, Littelfuse said.
Hyatt Hotels posts surprise first-quarter profit
Dow Jones Newswires | Hyatt Hotels Corp. posted a surprise
profit in the first quarter, though earnings fell 64 percent as the
hotelier benefited from an $8 million settlement and the company was
the latest to report signs of a travel and tourism industry rebound.
President and Chief Executive Mark Hoplamazian said room rates remain
under pressure, but the company is encouraged by year-to-year occupancy
increases in most of its markets. Group bookings also have begun to
rise, but continue to have limited visibility owing to short lead times
and smaller bookings.
Sara Lee swings to loss in 3Q, boosts outlook
Associated Press | Sara Lee Corp. lost money in its fiscal third quarter, pulled down by a
tax charge and other items, the food maker said Thursday. But the
company raised its 2010 adjusted earnings guidance above Wall Street’s
expectations.
Sara Lee reported a loss of $336 million, or 49 cents per share, for
the quarter that ended March 27, compared with net income of $165
million, or 24 cents per share, a year ago.
Integrys returns to profit, lowers 2010 outlook
Dow Jones Newswires | Integrys Energy Group Inc. reported net
income attributed to common shareholders of $49.5 million or $0.64 per
share for the first quarter, compared to a loss of $180.2 million or
$2.35 per share in the same quarter a year-ago.
Career Education profit doubles in 1Q
Dow Jones Newswires | Career Education Corp.’s first-quarter
profit more than doubled as the post-secondary education provider
reported a 23 percent increase in enrollment.
Career Education, which provides degrees in business, culinary arts and
health studies, also said it received an early indication that its
accrediting body may not sanction one of its schools. The college,
American InterContinental University, has been under scrutiny since the
federal government this winter expressed concern that the agency had
approved one of its programs.
Freddie Mac seeks more U.S. aid after big 1Q loss
Associated Press | Freddie Mac is asking for $10.6 billion in
additional federal aid after posting a big loss in the first three
months of the year. It’s another sign that the taxpayer bill for
stabilizing the housing market will keep mounting.
The McLean, Va.-based mortgage finance company has been effectively
owned by the government after nearly collapsing in September 2008. The
new request will bring the total tab for rescuing Freddie Mac to $61.3
billion.
1st quarter revenue up, profit down at CBOE
Dow Jones Newswires | The Chicago Board Options Exchange
increasingly relies on its stable of contracts tied to stock indexes, a
key area of its business that could be affected by a proposed cap on
trading fees.
The largest U.S. options exchange by volume said that index options made
up nearly a quarter of first-quarter activity, which was up 2 percent
from a year earlier.
Donnelley sees earnings triple in 1st quarter
Associated Press | R.R. Donnelley & Sons Co. said Wednesday
that its first-quarter net income more than tripled as expense cuts
outweighed a decline in sales.
The printing company earned $52.6 million, or 25 cents per share, for
the three months ended March 31. That’s up from last year’s profit of
$13.9 million, or 7 cents per share.
Orbitz narrows loss, beats expecations
Dow Jones Newswires | Orbitz Worldwide Inc. significantly
narrowed its loss in the first quarter — its second-straight period in
the red — absent $331.5 million in 2009 write-downs partly related to
declines in the online travel company’s stock price. The results beat
analysts’ expectations, and Orbitz also reported significantly stronger
bookings.
ADM Q1 profit spikes on biofuels demand
Assocaited Press | Archer Daniels Midland Co. says its first-quarter profit soared to more to $421 million from just $3 million in the same period last year, as global demand for biofuels boosted the company’s corn processing business. The Decatur-based company reported Tuesday it earned 65 cents per share, compared with 0 cents per share last year.
