Earnings Roundup: Itron’s revenue up despite more net loss

International utility metering company Itron Inc. saw continued net losses in the third quarter, posting a loss of $3.45 million, or 11 cents per share, on Thursday.

The Liberty Lake-based corporation had year-to-date losses of about $20 million, or 69 cents per share, stemming from charges related to its $1.7 billion acquisition of Luxembourg-based Actaris Metering Systems earlier this year and “accelerated expensing of debt fees,” according to a news release.

Itron had revenues of $434 million for the quarter ending Sept. 30, up from $165 million for the same period last year.

The company “experienced a pause in business in the U.S. that we thought might occur,” but Itron is “very well positioned for the long-term,” LeRoy Nosbaum, chairman and CEO, said in a prepared statement.

CBS Corp.‘s earnings rose 8 percent in the third quarter, as the company reported gains in its TV and outdoor advertising businesses but more declines in radio.

CBS earned $343.3 million, or 48 cents per share, in the three months ending in September, up from $316.9 million, or 41 cents per share, in the same period a year ago.

Analysts polled by Thomson Financial had been expecting 43 cents a share.

Revenues fell 3 percent to $3.28 billion, which the company attributed to lower television license fees, the sale of several radio and TV stations and the loss of the UPN television network, which was shut down in September 2006.

Operating income was essentially flat at $645.8 million as the gains in TV, outdoor advertising and book publishing were offset by declines in radio.

Radio profits declined 20 percent, while television earnings rose 4 percent and outdoor advertising earnings rose 13 percent.

Blockbuster Inc.‘s third-quarter loss widened as the movie-rental company lost a half million online customers and absorbed costs for layoffs and store closings.

Chief executive James W. Keyes said Thursday that many of those online subscribers were costing more than they were worth, and Blockbuster was happy to see them go to the competition.

Blockbuster shares fell 32 cents, or 6.1 percent, in trading Thursday to $4.94.

Blockbuster reported a quarterly loss of $37.8 million, or 20 cents per share after preferred dividends, compared with a loss of $27.5 million, or 15 cents per share, a year earlier. The results included $9.6 million, or 5 cents per share, in one-time severance and lease-termination costs.

Revenue fell 5 percent, to $1.24 billion, below analysts’ forecast of $1.28 billion.

Blockbuster has spent heavily in the last couple years to build up its online business and was narrowing the gap in customers with industry pioneer Netflix Inc. But over the summer, the number of Blockbuster online subscribers fell to 3.1 million from 3.6 million.

Sprint Nextel Corp. said Thursday it continued to struggle in the third quarter, reporting much lower profits and a continued loss of customers.

As the company looks to replace ousted Chief Executive Officer Gary Forsee, his interim replacement, Chief Financial Officer Paul Saleh, said the nation’s third-largest wireless provider was withdrawing its previous growth predictions for 2008 and would likely continue having problems attracting and retaining new customers through the end of the year.

The company reported earning $64 million, or 2 cents per share, compared with earning $279 million, or 9 cents per share, during the same period a year ago.

Napster Inc. said Thursday its second-quarter loss narrowed from a year ago as the online music service posted higher revenue from subscriptions and mobile music sales despite a decline in paid subscribers.

The company reported a net loss of $5.1 million, or 12 cents per share, for the fiscal quarter ended Sept. 30. During the same period a year ago, it lost $9 million, or 21 cents per share.

Net revenue for the most recent quarter was $31.6 million, up 24 percent from $25.5 million in the year-ago period.

Newspaper publisher The Washington Post Co. said Thursday its third-quarter profit edged down 1 percent, as a 50 percent drop in newspaper profits weighed down the company’s bottom line.

Earnings slipped to $72.2 million, or $7.60 per share, compared with $73.1 million, or $7.60 per share, in the prior year.

Per-share results for the Washington-based company reflected fewer outstanding shares in the latest quarter resulting from the company’s repurchase of $42 million in stock earlier in the year.

Video-game software publisher Electronic Arts Inc. posted a fiscal second-quarter net loss Thursday as sales fell, but the company said it expects a “great” holiday season, and its shares climbed 4 percent after hours.

For the quarter ended Sept. 30, EA posted a net loss of $195 million, or 62 cents per share, compared with a profit of $22 million, or 7 cents per share, in the same period a year ago.