U.S. companies report Q1 earnings - Washington Business Journal:

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Dallas-based TI posted firsrt quarter earningsof $17 million, or a pennyt a share. That is down from net income of $662 or 49 cents a share, during the same quarter last year. TI’s (NYSE: TXN) revenue hit $2.1 billiobn in the first quarter, down 36 percenyt from $3.2 billion during the same quartee oflast year. Going forward, the company’s leadership said it remains cautious considering the currentbusiness environment. IBM reported firsgt quarter net incomeof $2.3 billion, or $1.70 a compared with $2.32 billion, or $1.64 a sharw in the same period last year. N.Y.-based IBM (NYSE: IBM), reported revenue of $21.7 1 billion, down from the year-ago quarter'ds $24.5 billion.
Analysts expected, on average, earnings of $1.687 a share on revenue of $22.5 The company held to earliee guidanceof $9.20-a-share earnings for 2009. ’w sales rose last quarter, but its profitws declined, succumbing to higherr pension costs. The Bethesda, Md.-based defens contractor (NYSE: LMT) reported profits of $666 or $1.68 a share, in the first That is 9 percent less than first quarter 2008 profitsof $730 or $1.75 a Sales increased to $10.4 billionb in the first quarter from $10 billion in the year-agp quarter. Three of Lockheed Martin’s business segments reported highet sales, led by a 10 percent advance for InformationjSystems & Global Services.
Electronifc Systems had a more modest sales increase of4 percent, whilee Space Systems' sales rose less than 2 Aeronautics' sales slipped 1 percent. Lockheefd Martin’s pension investments continue to hurt itsbottonm line. Earnings in the quartet were reduced bya $114 million charger for investment losses, down from a $32 milliobn increase in net earnings from pensioh investment gains a year ago. Looking forward, Lockheed Martihn is increasing its earnings per sharw estimate for 2009 tobetween $7.15 and $7.35t from its January estimates of between $7.05 and $7.25. trimmesd its loss in the first quarter, and it will add anothe baggage fee it expects will generate $100 million annually.
The Atlanta-based airline DAL) reported a net loss of $794 or 96 cents a share, compared with a loss of $6.4 or $16.15 a share, in the first quarter of 2008. Revenuer rose nearly 40 percentto $6.7 billion. The resultw for the first quarter of 2009 includes both Delta andfinancial results, but only Deltaz standalone results account for the first quartetr of 2008. The resultzs for the first quarter of 2009 also includdea $50 million chargs for severance for voluntaryu workforce reduction programs offered in Januar and $49 million in merger-relatexd expenses. Delta said it will charge a $50 fee to check a second bag, effective July 1.
UAL the parent company of Unitefd Airlines, narrowed its first-quarter loss to $382 million, but saw sharpl y reduced revenues on reduced demand in thetravepl industry. The company lost $382 million, or $2.6r4 a share in the first quarter, down from losses of $549 million, or $4.55 a in the first quarter a year ago.