A red letter day in the dotcom giant's history -- its first full year in the black and beautiful! Net income for the fourth quarter jumped to $73.2 million (€57.92m; £39.86m) from $2.7 million a year earlier. For the full year, net income reached $35.3m (8 cents a share) compared with a net loss of $149.1m(39 cents) in 2002.
• Dow Jones & Company
Q4 net profit rose to $44.3 million (€35.05m; £24.12m), or 54 cents a share, against $15.2m (18 cents) year-on-year. The results were boosted by a strong December and a 30% increase in colour advertising.
Dow Jones said quarterly revenue climbed 6% to $420.7m, powered by an 8.1% increase in linage for the US edition of the Wall Street Journal. But mid-term ad revenue forecasts remain difficult as advertisers now opt to place insertions at the last minute rather than commit to regular schedules.
Based on advertising performance over the last two quarters, the company expects WSJ advertising linage to grow 7% in 2004, which would yield per-share earnings of $1.30.
• Kraft Foods
Fourth-quarter earnings at $869 million (€687.63m; £473.18m87.75m) were seven percent down on a year earlier ($931m), triggering a warning that 2004 earnings will also be lower than expected.
Revenue grew to $8.3 billion from $7.8bn, up 6% thanks to a boost from the feeble dollar.
Announcing twenty plant closures and 6,000 job losses, Kraft lowered its estimate for 2004 earnings to $1.63 to $1.70 per share. Analysts were forecasting $2.01 per share.
For the full year, Kraft had net income of $3.48 billion, up 2% percent from $3.4 billion, in 2002. Revenue climbed 4% from $29.7bn to $31bn.
• New York Times Company
The publisher of the New York Times and the Boston Globe unveiled fourth quarter profits up to $110.9 million (€87.76m; £60.39m), an increase of around 3.1% from $107.5m a year earlier. Stronger than expected advertising gains in December were credited for the increase.
Quarterly revenue rose 5% to $882.3m. Advertising revenue, comprising two thirds of overall revenue, increased 3.2%. Circulation revenue rose 7.3%. Excluding results from the International Herald Tribune, revenue increased 2.5%.
The NYTC began including Herald Tribune results in its group figures in January 2003 following its buyout of the 50% stake in the newspaper formerly held by the Washington Post.
• Sony Corporation
The Tokyo-headquartered electronics and entertainment giant revealed a 26% drop in net income for its fiscal third quarter ended December 31, as heavy restructuring costs offset sales gains in mobile phones, flat-panel TV sets and DVD recorders.
Despite this Sony lifted its full-year group net-profit outlook, at the same time predicting heavier restructuring costs as it continues to thrust its business back on profit track.
Quarterly net income declined 26% to ¥92.62 billion ($0.877bn; €0.694bn; £0.478bn), in a period that included the critical year-end shopping season. That was down year-on-year from ¥125.43 billion.
Revenue increased 0.7% thanks to aggressive launches of digital products, rising to ¥2.32 trillion from ¥2.31trn. Group operating profit dropped 20% to ¥158.77bn from ¥199.52bn.
Data sourced from multiple origins; additional content by WARC staff