Earnings roundup: Clear Channel, GenTek

Among the earnings stories for Friday, May 9, from AP Financial News:

NEW YORK (AP) — Clear Channel Communications Inc., a major radio and outdoor advertising company, reported higher first-quarter earnings Friday on asset sales but operating results were flat, reflecting weak demand for radio advertising.

PARSIPPANY, N.J. (AP) — Chemical and industrial products company GenTek Inc. said it swung to a first-quarter profit compared with the year-ago period that included a hefty loss from discontinued operations.

LAKE SUCCESS, N.Y. (AP) — Aceto Corp., distributor of chemicals and generic drugs, said Friday its fiscal third-quarter profit jumped 83 percent as sales rose, helped by solid results in all its segments, notably health sciences and chemical and colorants.

HOUSTON (AP) — Sterling Construction Co., which builds highways, bridges and railroads, said Friday its first-quarter profit grew as revenue increased, but results fell below Wall Street's expectations and shares inched lower.

NEW YORK (AP) — Shares of institutional pharmacy services provider PharMerica Corp. rose Friday after its adjusted first-quarter profit and revenue beat Wall Street estimates.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.