Several companies declared their quarterly financial results before the market opened, while many companies are scheduled to report their earnings after the closing bell today. Some notable earners are discussed here.
Towers Watson & Co. (NYSE: TW), which operates as a global professional services company that provides consulting and other professional services, declared its fiscal 2012 first quarter early today. During the quarter, the company reported a profit of $59.7 million, or $0.82 a share, up from $33.2 million, or $0.45, a year earlier. Excluding merger-related costs and other items, earnings were reported at $1.19 a share on an adjusted basis. Analysts estimated adjusted EPS of $1.06 per share. Revenue improved 7.8 percent to $810.4 million. The company's benefits segment, its largest top-line contributor, revenue rose 7 percent from a year earlier on strong performance across its business lines. Risk and financial services revenue jumped 17 percent, with overall segment growth driven by increases in risk consulting and software. The talent and rewards segment's revenue edged up 2.6 percent and operating margin widened to 11.7 percent from 7.9 percent. CEO John Haley said, "We are pleased with how our business performed this quarter. We continue to deliver revenue growth while maintaining strong margins. While the general economic environment remains uncertain, I am confident that Towers Watson continues to be well-positioned for success."
Dish Network Corp. (Nasdaq: DISH), which provides direct broadcast satellite subscription television services in the U.S., today reported third quarter 2011 financial results. The company's net income totaled $319 million for the quarter ended September 30, 2011, a 30.3 percent increase compared with $245 million during the same period last year. Diluted earnings per share were $0.71 for the third quarter, compared with $0.55 during the same period in 2010. Analysts estimated a net profit of $0.73 per share for the company. Revenue totaled $3.60 billion for the quarter, a 12.3 percent increase compared with $3.21 billion for the corresponding period in 2010. In the third quarter, Dish lost a net 111,000 subscribers quarter, putting its customer base at 13.9 million as of September 30, 2011. The company's operating margin widened to 17.3 percent from 14.2 percent, helped by the increase in revenue. President and CEO Joe Clayton said, "Our net subscriber loss improved over the second quarter of this year but continued to be affected by increased competitive pressures, including aggressive competitive promotional offers, discounting and a weak housing market.