matched analysts' expectations for the first quarter of 2002, posting profits of $17.4 million, or 21 cents a share, up from $10.8 million, or 18 cents a share, in the year-ago period. Revenue for the quarter was also up, rising 12.5% to $81 million from $72 million in the year-ago quarter. The results were in line with the consensus analyst estimate provided by Thomson Financial/First Call. The video game publisher also raised its sales and profit guidance for the full year.
reported second-quarter income after the bell Thursday. The company earned 8 cents a share, excluding items, on revenue of $41.1 million. The company's income came in a penny shy of analysts' expectations.
warned Friday that an interim analysis of a late-stage test of its prostate cancer vaccine didn't give much hope for success. Dendreon is developing the vaccine, called Provenge, as a treatment for men with advanced-stage prostate cancer. But an independent analysis of the first of its late-stage tests -- designed to prove the vaccine's efficacy -- came back inconclusive.
rolled out a broad restructuring program Friday morning under which it will close five plants and take a $4.1 billion charge. The company also set plans to slash its worldwide workforce by 35,000 jobs, or about 10%. In addition, Ford cut its dividend for the second time in a year, reducing its quarterly payout to 10 cents from 15 cents in the preceding quarter and 30 cents in the third quarter. The moves come as Ford seeks to reduce cash consumption amid a recession.
A Maryland jury ordered a unit of
to pay $505 million to
in a case involving Igen's blood-testing technology. Roche has been contesting claims since 1997 that its Boehringer Mannheim unit breached agreements covering the technology. Igen said the jury confirmed its rights to terminate the licensing agreement with Roche and confirmed Igen's rights to Roche's Elecsys Systems diagnostics product line. Roche plans to appeal the ruling.
Chip technology designer
reported results for the fiscal first quarter after the bell Thursday. Revenue was light but the company cut legal and operating costs to achieve a penny more profit than Wall Street was expecting. The company posted $24.9 million in sales and earnings of 6 cents a share. Consensus estimates had called for 5 cents a share of income on $26.6 million in revenue.
Swiss bank and financial services group
has won the auction for the energy-trading division of
( ENE), the bankrupt former energy and natural gas trader, according to televised and published reports. Reports started surfacing around midday that UBS had prevailed in its bid to acquire the main trading operations of Enron. Financial terms of the deal weren't immediately available. A bankruptcy court judge still has to approve the sale.