U.S. News

Earnings roundup: Immunomedics, Vantage Drilling


Among the earnings stories for Monday, May 10, from AP Financial News:

— Biopharmaceutical company Immunomedics Inc. said its profit quadrupled in the fiscal third quarter, as it received more payments from partner Nycomed.

— Offshore driller Vantage Drilling Co. said its net income more than doubled in the first quarter as revenue from contract drilling rose sharply.

— Energy Conversion Devices Inc. reported a net loss for its fiscal third quarter as the solar panel product maker recorded a $358 million charge to write down the value of its assets.

— John Bean Technologies, whose clients include food processing and air transportation companies, reported its first-quarter net income edged lower due to a slowdown in the latter sector.

— Aircraft parts supplier TransDigm Group Inc. said its net income in the fiscal second-quarter fell almost 6 percent as higher interest expenses offset better sales.

— Drug maker Enzon Pharmaceuticals Inc. said its first-quarter net income surged on the sale of its specialty pharmaceuticals unit.

— Achillion Pharmaceuticals Inc. reported a smaller first-quarter loss as revenue climbed while research and development expenses fell.