Excluding charges related to stock options and other items, the company said it would have earned $1.06 billion, or 63 cents a share. Sales rose 43% to $3.3 billion from $2.3 billion. Analysts were expecting profits of 60 cents a share on revenue of $2.86 billion. Shares of the Qualcomm retreated 1.66% in after hours trade.
Bally Technologies Inc. (NYSE: BYI) announced its fiscal first-quarter net income jumped 42% to $30.3 million, or 52 cents a share, from $21.3 million, or 37 cents a share, in the first quarter of 2007. Revenue rose to $237.4 million from $189 million. Analysts had forecast profits of 49 cents a share on revenue of $222.4 million.
AmTrust Financial Services Inc (NASDAQ: AFSI) said that its third quarter net earnings fell to $9.4 million, from $24.4 million in the same quarter in previous year. AmTrust said it incurred a realized loss on an after-tax basis of $29.8 million on its investment portfolio related primarily to fixed income investments in Lehman Brothers Holdings and Washington.Net premium earned jumped 13% to $92.3 million and net investment income climbed 11% to $15.4 million. Shares of AmTrust Financial decreased 2.6% in after-market trading.
Avanex Corporation (NASDAQ: AVNX) posted a net loss $9.6 million2009 was $9.6 million or $0.63 in the first quarter compared to net income of $45,000 in the corresponding quarter last year. "The company is facing some significant challenges in light of the current macro-economic environment," said Giovanni Barbarossa, Interim CEO of Avanex. Sales declined 17% to $45.3 million from $54.7 million in the same quarter a year ago. Shares fell 1.16% in extended trading.
Bond insurer Assured Guaranty (NYSE: AGO) announced a third-quarter net loss of $63.3 million, or 70 cents a share compared to a net loss of $115 million, or $1.70 a share, in the same quarter a year ago. Operating income decreased 46% to $26.0 million, or 28 cents a share. Analysts on an average expected Assured Guaranty to earn 48 cents a share. Shares of the company fell 1.16% in extended trading.
Respiratory equipment maker ResMed Inc (NYSE: RMD) posted a 16% rise in quarterly profit. Its first quarter net income rose to $28 million or 36 cents per share from $24.1 million, or 31 cents per share, a year earlier. Revenue climbed 17% to $217.9 million.
Early on Thursday, private equity firm Blackstone Group (NYSE: BX) reported a $502.5 million loss or 44 cents a share for its third quarter compared to a profit of $234 million, or 21 cents, in the same quarter a year ago.Revenue fell to $160.3 million from $526.7 million a year ago.Chief executive, Stephen Schwarzman, said "It's relatively clear at this point that we're heading to a good-sized recession. No one can predict how deep or long it will be. We can see indicators from our portfolio companies that this is happening, particularly in the U.S. and Europe."Blackstone's chief operating officer, Tony James, said that since the start of the year the company had written down the value of about a third of the companies in its portfolio. In regular trading, Blackstone plunged $1.05 cents or 12.21% to finish at $7.55.
Disclosure: Author does not own any of the stocks discussed here.
