Earnings roundup: Actavis, Wabtec
Among the earnings stories for Tuesday, Feb. 19, from The Associated Press:
— Actavis Inc., formerly named Watson Pharmaceuticals, said its fourth-quarter earnings fell 70 percent from a year-ago period that got a big boost from the debut of its generic version of the cholesterol fighter Lipitor. Still, results topped expectations and the company backed its outlook for 2013.
— Wabtec Corp., which makes parts for railroads, subways and other types of transit, said its fourth-quarter net income rose 40 percent on growing demand for transportation infrastructure.
— Red Robin Gourmet Burgers Inc.'s fiscal fourth-quarter net income more than doubled as more customers ate in its restaurants and spent more each visit.
— Profit dropped in Bruker Corp.'s fourth quarter, but the scientific equipment maker's shares rose after it predicted continued revenue growth.
— Allison Transmission Holdings Inc. said its fourth-quarter net income tumbled 75 percent, pulled down by expenses related to a new labor contract and lower demand from the North American natural gas industry.