Berkshire and Shaw's 2Q Earnings Up

Omaha, NE, August 7, 2006--Berkshire Hathaway Inc., said second quarter earnings rose 62 percent as investments benefited from higher U.S. interest rates and a weakening dollar. Net income climbed to $2.35 billion, or $1,522 share, from $1.45 billion, or $941, a year earlier, the Omaha, Nebraska-based company said in a regulatory filing yesterday. Interest and dividend income from investing policyholder premiums rose 34 percent to $782 million, and the company had an $87 million gain on its foreign currency position after a loss a year earlier. Second quarter sales and service revenues were $12.74 billion, compared to $11.24 billion in the same period a year ago. Building products generated second quarter revenues of $1.33 billion, up from $1.25 billion a year ago. McLane Company's revenues for the quarter were $6.29 billion that climbed from $5.87 billion in the previous year period. Shaw Industries also generated higher second quarter revenues of $1.54 billion, compared to $1.43 billion last year.

Related Topics:Shaw Industries Group, Inc.

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