Posts tagged ‘Quarterly Report’

Quarterly Report
Exxon Mobile Corp announced their forth quarter report some days ago. There were 33 percent declined of net income as the cheap oil crude. But before we see the data, we have to know that before oil crude price running low, last year when oil price run up over $100 per barrel Exxon had booked great net income.
Exxon booked $7.8 billion compared $11.7 billion in the same period a year earlier. I predict oil crude is till cheap (below $60 per barrel) so, Exxon and others Companies will book normal income and it takes time for oil price to run high due the crisis.
Job Cut
To partner with economic crisis, Morgan Stanley and Goldman Sachs decide to cut their employees (Reuters said). Morgan Stanley is predicted to cut 5 percent from total staff while Sachs is higher around 10 percent. It indicates, United States will accept unemployment again and becomes big case for new president Mr. Obama. Additional information, Morgan Stanley has been housed 7000 employees last year and this is the second plan to house staff. Crisis pushes them to cut any operating costs.
NEC Electronic Japan also decides to cut their worldwide job around 20.000 people. This is a big plan for NEC as decision to exit liquid-display-electronic related business.

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Today quarterly report on major worldwide industries still talks about less profit due the global crisis. Most industries reported that they have already been attacked so hard as shown on their report but if we look deeper, most companies still run in profit, but declined in time lag running zone. The reason is clear, low demand and over supply as economic theory said.

Caterpillar Inc said that they suffered 32 percent loss of their profit on 4th quarterly report like mouse has eaten 32 percent of cheese. Caterpillar is one of the biggest global mining equipments industries and earth-moving construction. Lower on home sales has pressured their sales. Caterpillar has already been housed 17.000 workers to eliminate costs.

Claimed as Biggest Loss since 2003, Philips, an Amsterdam Electronic Industry posted big profit loss in this forth quarter. The report showed that Philips suffered more than $ 1 billion euros and put the electronic industry into red line. The suffering was caused by global crisis on demand side, low on demand. High on costs pushed The Company to cut more than 6000 job in near to save the operating costs. The good news is 5 percent rose on share due they kept last year dividend.

Necessary acceleration will be established to health Philips said Philips official staff. Philips net loss to complete others electronic industries such as Japanese Sony and Samsung net loss as global crisis attacked on demand side.

Today, Reuters sends me quarterly report news from major industries in America and Worldwide. Here are some conclusions for you. For further information, you can visit Reuters to read full information.
Those quarterly reported from worldwide companies showed that global crisis attacked all business.

General Electric Company Quarterly report
Bad economic environment impacted General motor to book good result in balance sheet. Forth quarter is worst but there are hopes. 44 percent profit loss in forth quarter. Profit was $3.72 billion if we compare with last earlier report, General Electric booked $6.7 billion. Declining on profit rose as lowering revenue. General Electric revenue downed to $46.21 or 4.8 percent compared than previous revenue. In New York Stock Exchange, GE share closed at $12.77 or 5.3 percent declining from $13.48

Samsung Quarterly Report
Oversupply and low demand on electronic goods are two factors causing poor financial report especially on Chips and LCD Screen. Analysts predicted that in first report on this year will worse due the reasons for Samsung Chips and LCD, slower economic recovery and lower purchasing power are the reasons.

Profit declined is significant and they predicted the trend will show worse in first report on this year. Although sales rose 5.5 percent to 18.45 trillion won but high operating loss makes it nothing because due the crisis there were massive prices for chips and LCD.
Overall in range October – December Samsung booked $682 billion of operating loss due the ravaging chips and LCD prices.
According to Reuters, Samsung’s October-December net loss was 22.2 billion won, compared with profits of 2.21 trillion won a year ago and 1.22 trillion won in the previous quarter.

Xerox Corp Quarterly Report
Based on lower sales and high restructuring cost, Xerox revenue downed 10 percent to $4.37 billion, post sale revenue also fell to $3.1 billion or 8 percent, equipment sale revenue fell 15 percent to $1.3 billion. Massive fallen on sales revenue is caused by weakness economic condition. Xerox as leading producer and supplier of digital printer, document management services, services and supplier for printing machine booked $1 million net income in forth quarter.

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Although Lorilland Inc sales edged up from 1.05 million last year to $1.07 million this year, second quarterly report shows that their profit declined to $217 million from $239 million earlier year or declined on share $1.25 per share in the present compared with $1.37 per share last year.

Declined on their quarterly report are caused of two main reason, increasing on income sales and spin off from Loews Corporation. Income tax rate rose to 39.2 percent from 37.3 percent in year earlier.

MetLife Inc. reports second-quarter financial results on Tuesday after the market closes. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Turbulent markets and the plummeting dollar pummeled MetLife’s investment portfolio in the first quarter, shrinking the New York’s insurer’s profit by 37 percent.

The company’s car and home insurance division’s profit also fell during the first quarter because of more claims from insured damage. During the recent quarter, MetLife made some market moves, with a subsidiary of the insurance giant saying it will buy the residential mortgage business of a unit of First Horizon National Corp. for an undisclosed amount.

MetLife also announced plans to sell its 52 percent stake in Reinsurance Group of America Inc. to MetLife shareholders. Both transactions are expected to close in the third quarter.

BY THE NUMBERS: Analysts, on average, expect MetLife to earn $1.51 per share during the second quarter on revenue of $13.89 billion, according to a survey by Thomson Financial.

ANALYST TAKE: Friedman, Billings, Ramsey & Co. analyst Randy Binner said uncertainties surrounding credit and market exposures remain in the insurance industry. Generally speaking, “Market sensitivities will again affect insurance operating results, although to a lesser extent than in the first quarter,” he wrote in a research note.

WHAT’S AHEAD: MetLife continues to push itself into the mortgage business. Its deal with First Horizon includes all of First Horizon’s origination business outside of the bank’s home state of Tennessee, servicing some $20 billion in mortgages. More than 230 retail and wholesale offices across the U.S. will be transferred. Read more »

Before I continue my report (based on Reuters.com), I would like to tell that ConocoPhillips, is the third-largest U.S. oil company. When oil price is running up, as the producer we know well that ConocoPhillips get this opportunity to take profit. If the price of your goods you produce is running high as external reasons (not your internal reason, such as high salary, high input cost), you will take profit more, right. ConocoPhillips did it on First Quarterly Report.

Reuters said, ‘Oil prices have increased nearly six-fold since 2002 on surging demand from emerging economies, supply concerns and the weak dollar. They were at or near record levels for most of the first quarter and surged to a record of nearly $120 earlier this week.’
Last period, ConocoPhillips booked profit $3.55 billion, or $2.12 a share and current period, ConocoPhillips book $4.14 billion, or $2.62 a share.
Off course, High profit in current quarterly makes ConocoPhillips repair and increase their capital and planning their business in next quarterly. Internal staff said that second quarter will more difficult, because of others competitors in oil and gas company. They will battle with Russian Oil and Gas Company, Lukoil LMOH.MM and Shell. Read more »

April is not only April Mobs. April also becomes a great month for stakeholders, investment, stock market; foreign exchange to take future decision for their capital (read money).I don’t understand well, Quarterly Report from companies is a accounting reporting or management reporting. That is a quiet misunderstood for me. I know, lecture said to me that Management reporting is an internal report otherwise; accounting report is for both external and internal report.

Don’t care about the theory. Let us see quarterly account report on those global businesses. The reports are useful information for businessmen, investor as I told above to take short decision. The information is also used to internal decision, maybe future investment, cash liquid and more.

So let us see, which companies take profit in recent four months and companies which take loss also in four months.

See my next post for some global business accounting reports