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Home > Fortune 500 Companies > Phelps Dodge
Phelps Dodge
Phelps Dodge is a publicly traded company having a good stock performance result. Phelps Dodge is a fortune 500 stock listed company trading under PD.
Phelps Dodge is an international mineral resource and industrial manufacturing company with a proud history dating from 1834. The company is headquartered in Phoenix, Arizona. J. Steven Whisler has been a Chief Executive Officer of Phelps Dodge Corp., since January 1, 2000 and previously served as its President from December 1997 to November 1, 2003.
Fourth Quarter Net Income of Phelps Dodge was 121.3 Million dollars, and 1,556.4 million dollars, for the year 2005. Net income included after-tax, net special charges totaling 204.2 million dollars, or 2.01 dollars per share, for the 2005 fourth quarter and after-tax, net special charges totaling 54.1 million dollars, or 53 cents per share, for the year 2005, which are summarized in Note 1. Net income also included a loss from discontinued operations of 39.9 million dollars, or 40 cents per share, in the 2005 fourth quarter, and 17.4 million dollars, or 17 cents per share, for the year 2005. By comparison, the company reported net income of 341.1 million dollars, or 3.40 dollars per share, in the 2004 fourth quarter and 1,046.3 million dollars or 10.58 dollars per share, for the year 2004. Net income included net special charges of 23.1 million dollars, or 23 cents per share, in the 2004 fourth quarter and 50.4 million dollars, or 51 cents per share, for the year 2004, which are also summarized in Note 1. Net income also included a loss from discontinued operations of 3.4 million dollars, or 3 cents per share, in the 2004 fourth quarter and income of 22.7 million dollars, or 23 cents per share, for the year 2004.
Phelps Dodge continued its strong performance, and for 2005 posted record annual net income of more than 1.5 billion dollars. While we had a number of unusual special items, which reduced our fourth quarter book earnings, our quarterly cash flow from operating activities, including the 200 million dollars used to fund trusts designed to reduce long-term liabilities, remained strong at more than 670 million dollars. The company continues to benefit from current prices both of copper and molybdenum, each of which reflects solid market fundamentals and with positive market outlooks.
The company is committed to providing superior quality products, produced at internationally competitive costs, to customers around the globe. They seek to prosper by forging partnerships with its customers and suppliers. Their mission in conducting business is to create and enhance long-term value for their shareholders and employees, and to do so in an environmentally responsible manner as good citizens of the communities in which they live and work.
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