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Dow Jones Newswires | Naperville-based Nicor Inc. reported a
surprise 15 percent jump in fourth-quarter profit as the company
benefited from higher rates and lower operating costs, but revenue slid
amid lower natural gas deliveries because of warmer weather.
Nicor, a gas distribution company whose operations are centered in
northern Illinois, was approved last year by state regulators to boost
rates some $80 million.
Dow Jones Newswires | R.R. Donnelley & Sons Co. said its fourth-quarter loss narrowed on much smaller write-downs from a
year earlier, but the Chicago printing-services company’s core earnings
declined — though less than analysts’ anticipated.
The earnings data came as Donnelley announced Tuesday a deal to buy New
York printer Bowne & Co. for $481 million, or $11.50 a share, a 65
percent premium to Tuesday’s closing price. The companies said they
hope to close the deal in the second half of this year.
 Improved sales at Kmart helped Sears Holdings in the fourth quarter. (AP File)
|
By Julie Johnsson | Huron
Consulting Group saw a strong finish to a chaotic year that included a
corporate restructuring after its former CEO amid left the company amid
an accounting scandal.
Huron, a Chicago-based consulting and restructuring firm, Tuesday
reported net income of $14.4 million, or $0.71 per share, for the
fourth quarter 2009. That’s a three-fold increase from prior-year
results, even though its quarterly revenues of $168.6 million decreased
slightly from 2008 levels.
From Women’s Wear Daily | Claire’s Stores Inc., the Hoffman Estate-based privately held accessory retailer,
reported higher fourth-quarter sales and forecast adjusted earnings for the
period to climb 20 percent or more.
Get the full story: wwd.com (Registration required)
Dow Jones Newswires | Morningstar Inc.’s fourth-quarter profit
fell 25 percent as the investment research provider reported charges
related to stock-option adjustments.
The company — which provides data on stocks, mutual funds and similar
vehicles — also reported a surprise increase in revenue, after posting
declines the rest of 2009 after two clients declined to renew their
contracts.
By Bruce Japsen
| Shares of Navigant Consulting Inc. fell nearly 10 percent this morning after the company reported a decline in fourth-quarter profits and revenue amid the tough economy.
The financial and regulatory consultancy said fourth-quarter 2009 profits were $4.8 million, or 10 cents a share, compared with $11.3 million, or 23 cents a share, in the year-ago quarter. Revenue tumbled 10 percent to $173.9 million.
Associated Press | After nearly 50 years of hammering competitors with discounts, Wal-Mart is getting a taste of its own medicine.
The world’s largest retailer has seen sales at its U.S. Walmart stores
fall for the first time, as price-cutting competitors lure away
bargain-hunters. Department stores and dollar stores are muscling in on
the company’s discount turf.
Tribune staff report | Naperville-based OfficeMax Inc. said Wednesday it narrowed its fourth-quarter loss to $3.2 million, from a loss to $396 million in the year-ago period.
Sales in the fourth quarter dropped to $1.8 billion from $1.9 billion.
Read the announcement: prnewswire.com
Deere & Co. John Deere 6870 STS combine on display at the World Agriculture Expo earlier this month. (AP)
Associated Press | Heavy equipment maker Deere & Co. reported a 19 percent jump in
first-quarter profit Wednesday despite the “stubbornly weak” economy as
lower costs and favorable exchange rates helped offset a 6 percent drop
in revenue.
The company also boosted its outlook for 2010, which helped send shares up 7.6 percent to $57.85 in premarket trading Wednesday.
| By Mike Hughlett in Miami | Irene Rosenfeld stood Tuesday before a crowd of Wall Street analysts to declare that Kraft Foods has all but completed the turnaround she laid out to them three years ago.
Rosenfeld was speaking before the annual meeting here of the Consumer Analyst Group of New York. Three years ago, as Kraft’s relatively new chief executive, she used the meeting as a platform to elucidate how the venerable but lumbering company would increase innovation and boost its sales and profits |
See also • Kraft profit triples on price hikes, beats expectations |
Dow Jones Newswires | CF Industries Holdings Inc.’s
fourth-quarter earnings dropped 73 percent as revenue at the fertilizer
maker slid by more than half on lower prices and margins plunged.
By Bruce Japsen | Abbott
Laboratories said this morning it has closed on its $6.2 billion
purchase of Solvay Pharmaceuticals of Belgium, giving the North
Chicago-based drug giant access to a larger cholesterol drug franchise
as well as other medicines.
The deal gives Abbott sole control over the cholesterol drug Tricor and
its successor pill TriLipix. That will help add about $2.9 billion to
Abbott’s reported 2010 annual sales.
Associated Press | Kraft Foods Inc. said Tuesday its fourth-quarter profit more than
tripled on strength in developing markets and continued benefits from
its restructuring plan to focus more on its money-making products.
The food maker, which is buying British candy maker Cadbury, said it
expects long-term earnings growth at the high end of its previous
guidance.
Kraft, whose brands include Maxwell House, Oreo cookies and its
namesake cheese, said profit surged to $710 million, or 48 cents per
share, for the period ended Dec. 31. That’s up from $178 million, or 12
cents per share, a year ago.
By Margaret O’Brien | Profit at Chicago-based Tootsie Roll Industries Inc. dropped 29 percent in the fourth quarter to $5.36 million, or 9 cents a share, from $7.57 million, or 14 cents a share, compared to the same period a year ago, the company reported.
Sales were down 4.4 percent in the fourth quarter to $110.32 million.
“Fourth-quarter 2009 net sales were adversely affected by fewer shipping days and the adverse timing of certain customers sales in comparative quarterly periods,” Melvin Gordon, chairman of Tootsie Roll said in a statement.
Gordon said earnings were helped by selective prices increases, foreign income tax benefits and lower energy, fuel and delivery costs. Results were hurt by a large write down on certain assets in the year-ago period, he said. Earnings per share for the fourth quarter were affected by fewer share of common stock outstanding because of share buyback efforts.
For the year, Tootsie Roll earnings were up 39.1 percent to $53.48 million, or 95 cents a share, from $38.78 million, or 68 cents a share. Sales were up 0.5 percent to $495.59 million.
Gordon said 2009 revenue benefitted from higher U.S. sales, though hurt by declines in exports.
Read the company’s release: tootsieroll.com
