Fedders Anticipates 29% Drop In Q2 Sales
Liberty Corner, N.J. — Air conditioner maker Fedders said as a result of increased inventory of room air conditioners in key North American markets carried over from 2004, which was caused by cooler-than-normal weather in 2004, net sales in the second quarter, ended this June 30, will decrease 29 percent to about $127 million, from $178.1 million in the second quarter of 2004.
Dell Revenue Climbs 15%
Round Rock, Texas — Aggressive discounting of consumer PCs as well as weakness in orders placed by the U.S. government put a damper on fiscal second-quarter revenue growth at Dell, which still climbed 15 percent, hitting $13.4 billion, up from a year-ago $11.7 billion, but did not reach expectations commonly held in the marketplace.
Target Sales Rise 13.5%
Minneapolis — Fiscal second-quarter sales at Target jumped 13.5 percent, hitting $11.7 billion, up from $10.3 billion in the same three months last year. Comp-store sales climbed 6.7 percent.
Englewood, Colo. — Satellite TV provider EchoStar Communications hiked total revenue 18 percent during the second quarter, coming in at $2.1 billion, up from a year-ago $1.8 billion.