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It also reported profit of $1.9 million.
For the full year, K.K.R. reported profit of $1.9 billion.
Glaxo reported profit from continuing operations of £1.27 billion, surpassing the £1.15 billion forecast by analysts.
Apple reported profit margins this quarter of just under 40percentt.
The Bank of New York and Comerica reported profit declines on loan losses.
Morgan Stanley reported profit of $1.6 billion for its first quarter.
For its previous fiscal year, the company reported profit from continuing operations of $2.95 a share.
Almost every big music company has reported profit declines in recent quarters.
Exxon Mobil, Chevron and BP Amoco all reported profit increases of well over 100percentt.
Some 17 percent have reported profit that missed forecasts, down from 33percentt a year earlier.
The improper accounting inflated Fannie Mae's reported profit for 2004 and prior years by $6.3 billion.
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