Clear Channel (calendar Q4)
America's largest radio operator reported a decline in fourth quarter radio revenues of just over $22 million (€17.71m; £11.83m) compared to the same period last year.
    It blamed a decline in local advertising for the fall but said the termination of sports rights deals and lower revenues at its nationally syndicated stations also affected results. Independent figures show that radio audiences have fallen dramatically since 1999.
    Admitting that 2003 had been a "challenging economic period", chairman/ceo Lowry Mays said overall revenues, including its outdoor advertising and live entertainment businesses, were £4.75bn ($8.93bn) for the year, an increase of 6% on 2002.

H J Heinz (fiscal Q3)
Profit at the global foods group rose 33% as the weak US dollar boosted overseas revenues and sales of new products bettered expectations.
    Earnings of $202.2 million (€162.78m; £108.76m), or 57 cents a share, were up year-on-year by 33% from $151.6m (43 cents).
    The weak US dollar boosted overseas revenues and sales of new products beat expectations.
    The group is on target to earn $2.19-$2.21 a share for fiscal 2004 and to report record cashflow.

H&R Block (fiscal Q3)
The US financial and taxation services giant reported income of $106.7 million (€85.90m; £57.4m) or 59 cents per share, down year-on-year from $132.3m (73 cents).
    The results include a $17 million gain on the sale of mortgage assets, while the year-earlier results included a $130.9 million gain. Excluding the gains, Q3 earnings per share were 53 cents.

Nestlé (Full year 2003)
The world's largest foods group reported earnings before interest, tax and amortisation of SF11.01 billion ($8.69bn; €6.99bn; £4.67bn), up from SFr10.94bn in 2002. Net profit, however, dropped 17.9% to SF6.21bn .
    Despite this the group still hit its 2003 organic sales growth target of 5.1%. Sales at constant currencies grew 6.3% to SFr88bn, though the strong Swiss franc had a negative effect of 7.6% on consolidated sales. All geographic regions saw positive growth.
    The group is still on track to hit its organic sales growth target for 2004. Chief executive Peter Brabeck, said the group had performed well in an "adverse economic and political environment, with powerful currency headwinds for the third successive year".

Seven Network (Half year)
The Australian TV network posted a 16.7% fall in its bottom-line interim profit to A$54.28 million ($41.72m; €33.59m; £22.44m) for the six months to December 27.
    The result reflects the latest TV ratings which show Seven losing ground to its smaller rival, Ten Network, and falling further behind Nine Network.
    Revenues fell by 2.6% to $665.9 million, although excluding losses from its half-share in TV Week (sold in August 2002), revenue rose 6.8%.
    In the most recent period, TV advertising revenue across the company rose 7%, and by between 5% and 6% for metropolitan markets, compared with market growth of around 12%.
    Advertising growth in the first quarter was "very strong", although the network declined to offer specific revenue or profit guidance. The bottom line was also hit by $17m in redundancy costs, mostly in the television division.

Television Française 1 (Full year 2003)
The nation's most popular channel posted a net profit of €191.5 million ($237.87m; £127.95m) up 23.5% from €155.2 million in 2002.
    Operating revenue rose 4.1% to €2.77 billion from €2.66 billion; and operating profit increased 14% to €2.77bn (€293.5bn).
    The company predicted an increase in net earnings and a 4% to 5% rise in revenue for 2004, boosted by a 3% to 5% jump in income from advertising on its main channel.
    It also forecast that programming costs would rise 4% to 5% this year.

Data sourced from multiple origins; additional content by WARC staff