3rd QTR reports in: Coca-Cola up; Delta down

In business news, despite week domestic sales, the nation's largest soft drink maker beat analyst’s predictions overseas and performed better than expected here at home. International sales at Atlanta based Coca-Cola were boosted in part because of the booming South East Asian markets. Coca-Cola saw increased demand for its carbonated drinks, as well as a 10 percent growth in non-carbonated drinks, like juices and bottled water. Overall the company reported a 14 percent profit increase for third quarter 2008. Wall Street had predicted Coca-Cola to make 77 cents per share. Instead, earnings came in at 81 cents per share, 10 cents higher than the same period a year ago. In other business news, Delta Airlines lost 50 million dollars during the three months ending September 26. The nation’s largest airline blamed the loss on rising fuel costs. This time last year, Delta reported a profit of $220 million. Barring any federal roadblock, Delta plans to merge with Minneapolis-based Northwest Airlines by the end of the year. By eliminating redundant routes, the company should see some relief from rising oil prices.

Coke 1st-quarter profits beat expectations

Coca-Cola says its profits in the 1st quarter of this year rose 19-percent-—that’s based on a 21-percent jump in sales. The results reported by the Atlanta-based beverage maker beat Wall Street expectations. Coca-Cola says profit was 1.5 billion dollars in the three months ending March 28th. That is a jump from the 1.26 billion dollar profit one year ago.

Coca-Cola earnings see sharp increase

The Coca-Cola Company reports robust earnings from its fourth-quarter sales of 2007.

The world’s largest beverage maker says its profits rose nearly 80-percent on the strength of a double-digit increase in sales. The company said the uptick is due to growth of key soft-drink brands, and in its water, sports drink, and orange juice categories.

Atlanta-based Coca-Cola reports earnings of 1.2 billion dollars, or 52-cents a share for the three months ending December 31st. That represents a big jump from a year earlier, when profits reported were 678 million dollars. Company officials say they’ve now had four consecutive quarters of double-digit earnings-per-share growth.

The fourth-quarter earnings-per-share reported by Coke were ahead of what analysts surveyed by Thomson Financial were expecting.

Delta adjusts to rising fuel costs

Delta Air Lines today announced a partial hiring freeze among steps it’s taking to deal with soaring fuel costs.

Delta and other carriers are trying to manage the rising expense of fuel in their budgets. From a mid-January average price of $1.73 a gallon for fuel, the jump has been substantial--to an average $2.55 a gallon at the end of November.

Atlanta-based Delta says it’s holding-off on new hires for positions that are not face-to-face with the public, such as in office and administrative areas. A spokesperson says there will not be job cuts.

The airline also plans to reduce the number of flights for off-peak times on particular routes. Also, it will go ahead with the return of 13 leased jets from a fleet of around 450.

In a web-cast of an investors conference earlier today, Delta president Ed Bastian said its operating profit margins for the 4th quarter of this year, will come in flat or down 2-percent. Its earlier projections called for profits of 3-5 percent.