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Sales dip, profits flat for PepsiCo in Q1
2015-04-23 14:51:00| Daily beverage news and comment - from just-drinks.com
PepsiCo has posted an improved performance in its first quarter, despite taking a hit from ForEx.
Ericsson Q1 profits lower as NAmerica market slows
2015-04-23 08:26:00| Telecompaper Headlines
(Telecompaper) Ericsson reported first-quarter sales up 13 percent year-on-year to SEK 53.5 billion, due largely to positive currency effects. Adjusted for comparable units and currency, revenues fell 6 percent, driven by slower mobile broadband activity in North America. Ericsson said it expects the situation to continue in North America in the near term, while it continues to benefit from the booming 4G market in China. This sales mix led to a drop in the gross margin to 35.4 percent in Q1 from 36.5 a year ago, and operating profit fell to SEK 2.1 billion from SEK 2.6 billion due to higher restructuring charges of SEK 0.6 billion. Ericsson also reported negative operating cash flow of SEK 5.9 billion, mainly due to increased working capital. Net profit dropped 14 percent year-on-year to SEK 1.5 billion.
Tags: market
lower
ericsson
profits
AT&T Q1 profits fall on acquisition costs, flat revenues
2015-04-23 07:38:00| Telecompaper Headlines
(Telecompaper) AT&T reported nearly flat revenues for the first quarter, due to tough competition in the mobile market and the sale of some of its wireline activities. Revenues were up just 0.3 percent year-on-year to USD 32.6 billion. If the divested Connecticut wireline properties are excluded, revenues rose 1.2 percent. Operating profit fell to USD 5.5 billion from USD 6.3 billion a year ago, hurt by a rise in costs for reducing staff and merger and integration expenses. Net profit dropped to USD 3.2 billion or USD 0.61 per diluted share, compared to USD 3.7 billion or USD 0.70 per share in the year-ago quarter. This includes 3 cents a share for voluntary employee separations, 4 cents for merger and integration expenses and a 5-cent gain from a tax item. After capital expenditures of USD 4.0 billion, free cash flow totaled USD 2.8 billion. AT&T said it was on track to meet its full-year guidance and close the acquisition of DirecTV in the second quarter. The company also increased the expected cost synergies from the acquisition to USD 2.5 billion per year, compared to an estimate of USD 1.6 billion when the deal was announced last year.
P.A.M. Transportation sees 296% gain in record first quarter profits
2015-04-23 04:55:36| Trucking - Topix.net
Tontitown-based P.A.M. Transportation Services is off to a record start in 2015 reporting net profits of $5.369 million, rallying 296% from the $1.356 million net income reported in the first quarter of 2014. On Wednesday the carrier posted earnings per share of 72 cents for the quarter ending March 30, 2015, well ahead of the 17 cents per share earned a year ago.
Tags: record
gain
transportation
quarter
eBay profits beat expectations
2015-04-22 22:36:34| BBC News | Business | UK Edition
Online retailer eBay reports better-than-expected first quarter profits, but says a strong dollar significantly hurt the company's results.
Tags: ebay
beat
expectations
profits
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