Quinton earnings drop for quarter
Published 9:00 pm Thursday, April 21, 2005
Quinton Cardiology Systems of Bothell reported net income during the first quarter of $1 million, or 7 cents a share, compared to $1.1 million in the same quarter last year. The maker of cardiology monitoring equipment said delays in its ordering cycle and problems with obtaining parts for some of its products held down the company’s sales for the period. Quinton hopes to merge with California-based Cardiac Science Inc. later this year.
Bankrupt cable company sold
After months of haggling and fending off a bid from a rival suitor, Time Warner Inc. and Comcast Corp. have sealed a deal to purchase the assets of Adelphia Communications Corp., the bankrupt cable TV company based in Colorado. The $17.6 billion cash-and-stock deal announced Thursday will also allow Time Warner to float shares in its cable subsidiary, opening the possibility of even more consolidation in the cable industry.
Weyerhaeuser ups profits, dividend
Weyerhaeuser Co., one of the nation’s largest forest products companies, reported Thursday that first-quarter earnings nearly doubled on higher sales and fewer legal and restructuring costs. The company also raised its quarterly dividend by 25 percent. The company earned $239 million, or 98 cents per share, up from $121 million, or 54 cents per share, a year ago.
Worldwide profits soar for McDonalds
McDonald’s Corp., the world’s largest fast-food chain, reported Thursday that better sales in Europe and continued momentum in the United States lifted first-quarter profits 42 percent. Net income for the January-through-March quarter was $727.9 million, or 56 cents per share, compared with $511.5 million, or 40 cents per share, a year earlier. Results included a gain of $179 million, or 13 cents per share, because of a decreased tax rate and a charge of 3 cents per share because of a shift from share-based compensation to mostly cash-based compensation.
EBay eyes China for future growth
EBay Inc. became one of the world’s biggest e-commerce companies because of its phenomenal popularity in the United States, Germany and other wealthy countries. But executives at the San Jose-based online auction powerhouse are now looking to China to sustain scorching growth rates. EBay added more new users in China this year than from any other country, and it’s now the No. 1 e-commerce company there. CEO Meg Whitman said eBay would debut PayPal in China soon.
From Herald staff and news services
