( MYG) cut its dividend in half to 9 cents a share, payable June 15 to shareholders of record as of June 1. The company said the cut will allow it to finance its restructuring plan and have additional cash available for debt reduction and pension funding. The stock was down 8 cents, or 0.76%, to $10.40 in after-hours trading.
( LTXX) announced that it will delay the release of its financial results for the third quarter ended April 30. The company said it was made aware of a whistle-blower allegation relating to its third quarter results. The company believes the allegations are without merit. The stock was down 45 cents, or 11.39%, to $3.50 in after-hours trading.
said it earned $6.7 million, or 24 cents a share, for the fourth quarter ended April 1, compared with $3.8 million, or 13 cents a share, a year ago. Revenue for the quarter was $90.9 million. Pro-forma earnings were $7.6 million, or 27 cents a share. Analysts expected earnings of 24 cents a share on revenue of $90.2 million, according to Thomson First Call. The stock was up 87 cents, or 4.58%, to $19.85 in after-hours trading.
Atlanta Gas Light
( ATG) announced that its subsidiary, Florida Gas Light, has reached an agreement on a new three-year contract with the Teamsters Local 385 and 769. The union workers will return to work on Monday after a 39-day strike. The new contract expires March 31, 2008. The stock was unchanged at $34.01.
( GTRC) said it expects to earn 39 cents to 44 cents a share for the second quarter, which includes a one-time charge of 7 cents a share due to the acquisition of Music & Arts Center. The company forecasts revenue in the range of $395.7 million to $406.4 million. Analysts were expecting earnings of 51 cents a share on revenue of $388.8 million, according to Thomson First Call. For the full year 2005, the company expects to earn $2.59 to $2.74 a share on revenue in the range of $1.77 billion to $1.81 billion. Included in the full year forecast is the one-time acquisition charge of 8 cents a share. Wall Street was expecting profits of $2.70 a share on revenue of $1.73 billion. The stock was down 24 cents, or 0.5%, to $47.71 in after-hours trading.