CBS Corporation (NYSE:CBS) reported a second quarter profit of 2 cents per share, up from a loss of 8 cents in the first quarter, and down from earnings of 61 cents per share in the same quarter last year. The company generated 3.01 billion dollars in revenue, and 351.7 million dollars of free cash flow. On an adjusted basis, earnings were 8 cents per share. CEO Leslie Moonves encouraged investors, saying that early signs of a recovery took hold in the second quarter, and that the second half of the year should be considerably stronger than the first. In Friday morning trading, shares gained about 20 and a half percent.
Shares of FBL Financial Group (NYSE:FFG) surged 34%, after the company reported a second quarter profit of 81 cents per share. That's compared to a loss of 56 cents per share in the same quarter last year. FBL said it had a decrease in unrealized losses in its investment portfolio, which contributed to a 119% increase in book value per share quarter over quarter.
Brooks Automation (NASDAQ:BRKS) announced a quarterly loss of 41 cents per share, as revenues dropped nearly 65% year over year. Quarter over quarter however, revenues rebounded almost 18%, which gave investors encouragement. CEO Robert Lepofsky said revenue continued to accelerate as the quarter progressed, and the momentum is continuing in the current quarter. The company now expects sequential revenue growth in the current quarter of 25%. In early trading on Friday, shares were up about 25 and a half percent.
Beazer Homes (NYSE:BZH) reported a quarterly loss of 72 cents per share, compared to a loss of 2 dollars and 85 cents per share in the same quarter last year. The company experienced a sequential improvement in sales, and the cancellation rate improved. The company ended the quarter with about 465 million dollars in cash, and repurchased 115 and a half million dollars of its debt at a little over 50 cents on the dollar. Shares gained 17% Friday morning.
And Chiquita (NYSE:CQB) had its best quarterly performance in the past decade, earning a dollar 95 per share, even as net sales declined by 4%, as the company controlled costs. The company's salads business showed significant improvement, and high pricing in Europe helped the bananas business, driving better than anticipated performance. Looking ahead, Chiquita said it now expects full year 2009 results to be significantly better than 2008, but cautioned that its third and fourth quarter results are seasonally weaker. Chiquita shares advanced 15% in early trading on Friday.
For MarketNewsVideo.com, I'm Nichole Dossous.
