PROFIT DOUBLED | ABB Message Board Posts


ABB   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  160 of 164  at  2/19/2010 1:00:50 PM  by

mlkrborn


PROFIT DOUBLED

ABB profit more than doubles

(2:05 AM ET) PARIS (MarketWatch) -- Engineering group ABBsaid its fourth-quarter profit more than doubled to $540 million, while revenue fell 4% to $8.76 billion. ABB cited lower inventories, efforts to improve customer collections for the profit jump as well as year-earlier provisions for the profit jump. Analysts polled by Capital IQ had forecast a $519 million profit on revenue of $8.6 billion. ABB is upping its dividend by 6% to 0.51 Swiss francs a share. Its cost saving program now aims to sustainably reduce ABB's costs - comprising both cost of sales as well as general and administrative expenses - from 2008 levels by a total of $3 billion by the end of 2010, compared with the previously announced level of $2 billion. Provisions over suspect payments and antitrust allegations may not be enough to cover "adverse outcomes," it added.

Pernod Ricard 1st-half net off 2%, sales down 10%


     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 1  
   Views: 530 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board




Financial Market Data provided by
.
Loading...