Bayer Swings to Third-Quarter Profit
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German drug and chemical maker Bayer AG said Thursday it posted a third-quarter net profit of 34 million euros ($42.2 million), reversing losses from a year ago as a recovery in the chemical industry helped ...
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The company said third-quarter profit rose 16 percent despite a drop in production, but warned that performance of its refining operations was weaker than it appeared.
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Aluminum producer Alcoa Inc. said Thursday that third-quarter profit rose 1.1 percent in the third quarter compared with a year ago, but fell significantly compared with the previous three months.
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The German drug maker Bayer said its third-quarter profit fell 35 percent on costs related to its acquisition of a rival, Schering, but its performance still exceeded analystsÂ expectations. Bayer earned 320 million euros ($419 million) in the three months through September, down from 493 million euros a year earlier. Sales rose 26 percent, to 7.78 billion euros ($10.2 billion). The company, based in Leverkusen, said it booked special charges totaling 139 million euros ($182 million) in the quarter, with 106 million euros ($139 million) of that mostly attributable to the integration of its health care unit with Schering. Bayer bought Schering in June in a deal worth nearly 16.9 billion euros ($22 billion) to strengthen its health care business. The company said its health care unit was Âthe principal growth engine for BayerÂs business in the third quarter,Â with sales climbing 73 percent, to 3.48 billion euros ($4.56 billion).
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Strong sales of key products drove third quarter earnings at Pfizer Inc. up 50 percent, the world&#39;s largest drug company said Wednesday.
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DuPont Co. posted a third-quarter profit Tuesday, reversing a year-ago loss as higher chemical prices offset surging energy costs, the second-largest US chemicals manufacturer said.
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SAP AG, the German business management software maker, reported a 15-percent jump in third-quarter net profit Thursday to euro291 million (US$366 million), citing increased sales across the globe.
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German drug and chemical company Bayer AG said Tuesday that net profit remained flat in the second quarter due to one-time charges, but operating earnings rose 44 percent in the quarter.
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Wyeth WYE.N on Wednesday reported a  third-quarter profit that exceeded analysts' estimates,  compared with a loss a year earlier, when it took a large  charge relating to its recalled "fen-phen" diet medicines.
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The electronics retailer said it swung to a third-quarter profit, overcoming lower revenue by cutting costs and selling more high-margin items.
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Raytheon Co. reported yesterday it swung to a profit in the third quarter and that revenue surged 13 percent, benefiting from rising military spending and more orders for its business jets.
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Eli Lilly and Co. LLY.N on Thursday  said its third-quarter earnings rose as growing demand for its  medicines offset higher spending to market recently approved  treatments.
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German chemical and drug maker Bayer AG said Tuesday its second-quarter net profit increased by 11.3 percent, helped by sales growth at its health-care unit.
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CHICAGO, Oct 27  - Aviation and defense giant Boeing said Wednesday its third-quarter profit shot up 78 percent from a year ago to 456 million dollars and gave an upbeat forecast for the rest of 2004 and into 2005.
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Rite Aid Corp. , the  third-largest U.S. drugstore chain, posted a higher quarterly  profit on Thursday as an income tax benefit and a gain on asset  sales offset acquisition costs.
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Johnson &amp; Johnson (JNJ.N: Quote, Profile, Research) on Tuesday said its third-quarter profit rose almost 14 percent on higher sales of prescription drugs, but US sales of medical devices slipped on competition from a rival heart device
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Raytheon Co. reported a third-quarter  net profit on Thursday after a loss in the year-ago quarter.