Garmin Ltd. (NASDAQ: GRMN) said Wednesday that its second-quarter net income fell 17%, hurt by currency fluctuations and higher expenses. Net income dropped to $134.8 million or 67 cents per share, from $161.9 million or 81 cents a share in the prior-year quarter. On an adjusted basis, the company earned 85 cents a share in the latest quarter. Revenue grew 9% to $729 million. Analysts, on average, expected the company to report earnings of 73 cents a share on revenue of $677.3 million. Looking ahead to the full-year 2010, the company anticipates pro forma earnings in the range of $2.75 to $3.15 a share. Analysts currently expect 2010 earnings of $2.90 a share.
PulteGroup, Inc. (NYSE: PHM) reported Wednesday that it swung to a second-quarter profit of $76 million, or 20 cents a share, compared with a loss of $189 million, or 74 cents a share, in the corresponding period last year. Revenue increased to $1.3 billion from $678.6 million. Analysts, on average, expected the company to post a loss of 1 cent per share on revenue of $1.24 billion.
Devon Energy Corporation (NYSE: DVN) said Wednesday that its second-quarter net income surged to $706 million, or $1.58 a share, from $314 million, or 70 cents a share, in the year-earlier period. On adjusted basis, the company earned $1.53 a share in the latest quarter. Revenue climbed to $2.23 billion from $1.82 billion. Analysts, on average, expected the company to report earnings of $1.42 per share on revenue of $2.38 billion.
Polo Ralph Lauren Corp. (NYSE: RL) reported Wednesday that its fiscal first-quarter profit climbed to $120.8 million, or $1.21 a share, from $76.8 million, or 76 cents a share, in the year-ago quarter. Revenue increased to $1.12 billion from $982.5 million. Analysts, on average, expected the company to report earnings of 89 cents a share on revenue of $1.14 billion.
Alpha Natural Resources, Inc. (NYSE: ANR) said Wednesday that its second-quarter net income rose to $38.8 million, or 32 cents per share, from $15.4 million, or 22 cents per share, in the prior-year quarter. On an adjusted basis, the company earned 62 cents per share in the latest share. Total revenues in the second quarter were $1.0 billion compared to $387.0 million for Alpha stand-alone in the same period of 2009. Analysts, on average, expected the company to report earnings of 69 cents per share on revenue of $938.12 million.
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