Sony recalls batteries for laptop computers
In the latest in a series of recalls of computer battery packs, Sony Electronics Inc. has voluntarily recalled rechargeable lithium-ion batteries used in VAIO notebook computers, because of they could possibly overheat.
The affected battery models are VGP-BPS3A and VGP-BPS2B, sold from December 2004 through October 2006. Some were sold in some military exchange retail or Internet stores, but they’re also sold in a number of outlets. Sony is asking customers to stop using the affected batteries, and to contact Sony Electronics for further instructions for a free replacement battery.
Customers should contact Sony at (888) 476-6972 any time to find out whether their battery is part of the recall, and to get instructions for receiving a free replacement battery.
Energizer 4Q Profit Drops, Shares Tumble
Energizer Holdings Inc., maker of batteries and blades, said Thursday fiscal fourth-quarter profit sagged 25 percent on restructuring charges and foreign pension costs.
Net income fell to $39.1 million, or 66 cents per share, compared to $51.8 million, or 72 cents per share, in the prior-year period.
Analysts expected 76 cents per share, according to a poll by Thomson Financial.
This year's results were knocked by charges of $13.9 million, or 23 cents per share, for European restructuring projects and a $3.7 million, or 6 cents per share, charge to record foreign pension costs. These items were partially offset by a tax benefit of $8 million, or 13 cents per share.
Last year's results included $3.7 million, or 5 cents per share, in charges for restructuring projects offset by a tax benefit of $4.3 million, or 6 cents per share.
Revenue for the quarter rose 5 percent to $830.1 million versus $793.7 million last year primarily on higher battery sales.
Wall Street consensus estimates saw sales at $821.8 million.
North American battery sales rose 7 percent to $343.2 million with higher volume and prices. Sales in the razor and blades segment were basically flat at $255 million.
Full-year earnings dropped 7 percent to $260.9 million, or $4.14 per share, compared to $280.7 million, or $3.82 per share, a year ago. The average analyst estimate was for earnings of $4.20 per share.
The data include restructuring charges of $24.9 million, or 39 cents per share, and the pension charge partially offset by favorable adjustments to previous tax accruals and tax benefits of $16.6 million, or 26 cents per share.
Last year's full-year results included a tax benefit of $25.3 million, or 34 cents per share, partially offset by restructuring charges and $9 million, or 12 cents per share, for a provision related to the repatriation of foreign earnings under the American Jobs Creation Act.
Full-year revenue increased 3 percent to $3.08 billion from $2.99 billion. Analysts forecast $3.07 billion in sales.
North American battery sales gained 5 percent for the year. Razors and blades sales declined 2 percent.
Energizer shares lost $5.35, or 6.9 percent, at $72.30 in morning trading on the New York Stock Exchange.
Green protestors storm power station
LONDON - Environmental campaigners invaded one of the country's biggest power stations on Thursday, forcing the plant to reduce output on one of the coldest days so far this winter, campaigners and the plant's owner said.
Thirty Greenpeace campaigners broke into the site of the Didcot A station in Oxfordshire, chaining themselves to a coal tower and scaling a chimney stack in a protest about greenhouse gas emissions from the 30 year old plant.
The action appeared to be designed to coincide with a visit to the area by Prime Minister Tony Blair, a spokeswoman for the station's owner RWE Npower said.
A Greenpeace spokeswoman said protestors planned to continue their action into the night.
RWE Npower said the Didcot plant was still running but at reduced rates, and the company had made up for the shortfall by producing power at other stations.
Thursday's protest comes after the government on Monday called for urgent action on climate change following publication of a reporting outlining the economic and environmental fallout from further global warming.
In August, about 600 green protestors staged a demonstration at Britain's biggest power plant, the Drax station in northern England, which is the country's biggest single industrial emitter of carbon dioxide, the main greenhouse gas.
RWE Npower said it is at the forefront of developing clean energy production.
"We're the leading operator and generator of wind power in the UK with sixteen on-and offshore wind farms, as well as many hydro power stations and a fleet of highly efficient combined heat and power plant," Kevin Akhurst, Managing Director of Generation and Renewables at RWE npower, said.
The 2000-megawatt coal-fired Didcot A station was commissioned in 1972 and is one of the UK's oldest stations. It is one of several plants due to close over the next five to 10 years.