Promus Hotel Earnings Up 25%
Promus Hotel Corp. said its second-quarter profit grew 25% to $50 million, or 57 cents a diluted share, a penny higher than analyst estimates, as it opened about 180 new Doubletree, Embassy Suites, Hampton Inn and Homewood Suites hotels. The company, which merged with Doubletree Corp. in December, said revenue grew 12% to $290.7 million. The results exclude one-time gains in both periods. Other earnings, excluding one-time gains and charges:
* American General Corp., a life insurance and consumer finance company, said second-quarter earnings rose 24% to $266 million, or $1.02 a diluted share, beating estimates of 98 cents.
* Drug wholesaler AmeriSource Health Corp.'s fiscal third-quarter profit rose 23% to $16.5 million, or 68 cents a diluted share, a penny higher than estimates, as revenue edged up 1.5% to $2.09 billion.
* Boston Scientific Corp.'s second-quarter profit fell 12% to $78.7 million, or 39 cents a diluted share, missing estimates by a penny, as revenue rose 6.8% to $505.7 million.
* Frontier Airlines Inc. earned $433,709, or 3 cents a share, in its fiscal first quarter, helped by the shutdown of rival Western Pacific Airlines Inc. earlier this year. It lost $2.09 million, or 24 cents, a year ago. Revenue rose 24% to $42.9 million.
* Manufactured Home Communities Inc.'s second-quarter income from operations grew 29% to $15.6 million, or 49 cents a diluted share, in line with expectations, as revenue climbed 63% to $47.9 million.