Mainland Operations Push Up BEA Profit
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By Lillian Liu  Bank of East Asia (BEA), Hong Kong's fifth-largest bank, has optimistic expectations for its mainland operations after the market helped it post a 25.1 percent growth in earnings last year.
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International Business Machines Corp.  on Tuesday posted a quarterly net profit that beat Wall Street's recently raised profit target as solid year-end product sales were buoyed by a weaker U.S. dollar.
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Temp firm posts strong revenue growth, stronger earnings, rampant dilution.
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Business Objects reported a 19 percent rise in revenue for the third quarter, driven by services, but earnings were dragged down by a shortfall in license revenue, recent acquisitions and legal costs.While the income figures are broadly in line with preliminary results announced on Oct. 7, the company had expected its earnings to be better. The results come about two weeks after&#160;SAP announced plans to acquire Business Objects&#160;for $6.7 billion.Earnings for the quarter fell to $6.4 million, or $0.07 per share, from $19.6 million, or $0.21 per share, a year earlier, Business Objects said. It had predicted earnings of $0.16 to $0.20 per share.The earnings reported include a charge of around $7 million, equivalent to $0.05 per share, to settle litigation with Decision Warehouse. Business Objects had previously honored Decision Warehouse as its top distributor in Latin America: the company now resells products from&#160;Hyperion, which was recently bought by Oracle, and&#160;BEA Systems, which Oracle is trying to buy.Revenue for the quarter, which ended Sept. 30, was $369 million, up 19 percent compared to a year earlier. The growth was driven by revenue from services such as product maintenance, up 27 percent, and consulting and training, up 34 percent year on year.Growth in license revenue lagged, up just 6 percent compared to a year earlier, although license revenue from all product lines continued to grow, the company said.The&#160;acquisition of Cartesis, completed on June 1, and of&#160;Inxight Software, completed on July 3, added around $21 million in revenue for the quarter.Business Objects also profited from exchange rate fluctuations: while total revenue grew 19 percent year on year, at constant currency rates it grew just 15 percent, while license revenue grew 2 percent at constant currency rates.Business Objects warned that there&#39;s more uncertainty ahead -- and not just because of SAP&#39;s bid for the company, announced Oct. 7.The unexpected shortfall in third-quarter licensing revenue, added to uncertainty about customers&#39; future spending ahead of the merger, prompted the company to withdraw previously issued financial guidance.
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Electronic Data Systems Corp. reported a  higher quarterly profit on Wednesday, boosted by a surge in new  orders for its technology services.
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Bisys Group Inc., a provider of outsourcing services, on Tuesday said its first-quarter earnings more than tripled on increased revenue, beating analysts&#39; estimates.
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CORUS, the British/Dutch steel major, and one-time basket-case of British industry, yesterday completed a remarkable turnaround when it posted its first profit since it was formed from the merger of British ...
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Ryder System Inc. R.N on Monday  posted a nearly 45 percent increase in quarterly net profit  amid increased demand for transport services, especially in its  commercial truck leasing business.
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Ryder System Inc. R.N on Monday  reported an increase in quarterly net profit amid increased  demand for transport services, especially in its fleet  management division.
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BNP Paribas bank has reported a 24.9-percent rise in net profits for 2006 driven by foreign expansion.
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The retailer reports strong earnings and lifts its outlook.
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Home goods retailer Bed Bath & Beyond   Inc. BBBY.O on Wednesday posted a higher quarterly profit,   citing higher sales.
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Computer server and software maker IBM said Monday its fourth-quarter earnings from continuing operations rose 24 percent from a year ago, beating Wall Street expectations by a wide margin.
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Diversified manufacturer 3M Co  reported higher operating earnings Tuesday on growth in its international businesses.
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IBM  reported a better- than-expected 24 percent rise in preliminary quarterly earnings on Monday on strong sales in overseas markets, driving its shares up 5 percent and spurring a broader tech rally.
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LONDON : Anglo-Dutch steelmaker Corus reported the first profit since its birth in 1999 thanks to cost cuts, rising metals prices and strong demand, notably from China.
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Strong overseas demand pushes IBM to a better-than-expected fourth quarter.