Earnings roundup: Coach, Regions Financial

AP News
Posted: Oct 26, 2010 2:31 PM
Earnings roundup: Coach, Regions Financial

Among the earnings stories for Tuesday, Oct. 26, from The Associated Press:

_ Coach Inc. said strong demand for its luxury handbags both in North America and overseas helped first-quarter net income rise 34 percent and sounded a positive note about the upcoming holiday season.

_ Shares of Regions Financial Corp. tumbled after the bank posted a wider-than-expected loss on sales of troubled real estate assets and an increase in charge-offs of bad loans.

_ Steelmaker AK Steel Holding Corp. said it lost $59.2 million during the third quarter as iron ore prices nearly doubled.

_ Printer and copier maker Lexmark International Inc. said its third-quarter profit grew more than sevenfold, boosted by higher revenue from its printing products and services coupled with lower operating costs.

_ Airgas Inc. said its fiscal second-quarter earnings climbed 22 percent as same-store sales rose, and the industrial gas supplier heaped fresh criticism on a takeover bid from rival Air Products and Chemicals Inc.

_ Railroad Kansas City Southern said its third-quarter earnings nearly doubled as shipping volume improved from a rough 2009, despite damage and delays from Hurricane Alex.