Earnings

Daily Herald (Arlington Heights, IL), April 25, 2003 | Go to article overview
Save to active project

Earnings


CHICAGO - Shares in Sara Lee Corp. tumbled 10 percent Thursday after the consumer goods giant reported worse-than-expected results and forecast weaker sales and lower earnings for the current quarter. The pessimistic sales news and profit warning came even as Sara Lee posted a 5 percent increase in third-quarter net profits. CEO C. Steven McMillan said underperforming brands need to be fixed or eliminated and announced the elimination of 58 regional bread brands and four more plant closings. Net income was $269 million, or 33 cents a share.

LAKE FOREST - Brunswick Corp. Thursday reported higher quarterly earnings on stronger sales of marine engines, boats and fitness gear. It also gave a full-year earnings outlook that was in line with analysts' consensus forecast. Brunswick reported a first- quarter net profit of $19.8 million, or 22 cents a share, compared with $13.2 million, or 15 cents a share, a year ago.

LAKE FOREST - CNH Global NV, the second-biggest maker of tractors and combines, said its first-quarter loss narrowed because costs fell. The net loss shrank to $46 million, or 35 cents a share, from $374 million, or $6.75 per share, in the year-earlier quarter. CNH expects 2003 sales in North America and Latin America to fall, making this year the sixth straight that sales of farm equipment will have dropped. It expects total restructuring costs this year of about $325 million before taxes, including $190 million to shut a plant in East Moline. It expects medical and pension costs to increase by $90 million this year.

LAKE FOREST - Pactiv Corp. posted first-quarter profit of $44 million, or 27 cents a share, vs. a net loss of $30 million, or 19 cents a share, the same quarter a year ago. Sales increased to $717 million from $647 million on volume growth in the company's food packaging products.

LAKE FOREST - IMC Global Inc. said Thursday its first-quarter net loss was $39.6 million, or 32 cents a share, vs. earnings of $4.8 million, or 4 cents a share, the same quarter a year ago.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Earnings
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?