Disney, Go.com Top Estimates, and More Postclose News
Disney
(DIS) - Get Walt Disney Company Report
reported first-quarter pro forma earnings of 25 cents a share, before the retained interest in its Internet portal
Go.com
(GO) - Get Grocery Outlet Holding Corp. Report
. The result edged out the 16-analyst estimate of 20 cents a share, and the year-ago pro forma 23 cents.
Chairman Michael Eisner said he does not see Disney becoming an Internet/entertainment company like
America Online
(AOL)
and
Time Warner
(TWX)
, saying Disney is already large enough and has strong enough content.
Meanwhile Go.com posted a narrower-than-expected pro forma loss of 30 cents a share, compared with the two-analyst estimate of a loss of 47 cents. The year-ago loss was 12 cents a share.
For more details on Go.com's
earnings, see the coverage from
TheStreet Recommends
TheStreet.com/NYTimes.com's
joint newsroom.
In other postclose news (
earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified
):
Earnings/revenue reports and previews
Cox Communications
(COX)
reported fourth-quarter earnings of 18 cents a share, including a gain of $259.3 million from investments. The year-ago earnings of 57 cents include a gain of $665.4 million from investments. The eight-analyst estimate was for a loss of nine cents a share. No per share figures from operating income were provided.
Credence Systems
(CMOS)
reported first-quarter earnings of 71 cents a share, blowing past the eight-analyst estimate of 52 cents and the year-ago loss of 32 cents. The company said sales increased 284% from a year ago.
CSX
(CSX) - Get CSX Corporation Report
posted fourth-quarter earnings of 20 cents a share, a penny shy of the 10-analyst estimate and down from the year-go 51 cents. The company said it was hurt by higher costs taken by the railroad in handling traffic on its expanded network. CSX said it expects to report first-quarter earnings "well below" its year-ago earnings of 36 cents. The four-analyst estimate for the first quarter is 34 cents.
Owens-Illinois
(OI) - Get O-I Glass Inc Report
reported fourth-quarter earnings of 23 cents a share, in line with the 10-analyst estimate. The year-ago loss of $1.24 includes items.
Rent-A-Center
(RCII) - Get Rent-A-Center Inc Report
reported fourth-quarter earnings of 52 cents a share, a penny ahead of the six-analyst estimate and better than the year-ago 29 cents. The company said diluted earnings per share would have been 70 cents before goodwill amortization of 18c a share for the quarter.
Tricon Global Restaurants
(YUM) - Get Yum! Brands, Inc. Report
posted fourth-quarter earnings of 78 cents a share, better than the single-analyst estimate of 72 cents and the year-ago 55 cents. The company said it expects it increase operating earnings-per-share by 23% to 27% in 2000.
Unocal
(UCL)
said it expects earnings this year will be more than double last year's levels due to sharply higher oil and natural gas prices. Unocal estimated its 2000 earnings, excluding its agricultural products segment, will be $1.40 to $1.50 a share, compared with 1999 earnings of 65 cents a share. The current 19-analyst estimate calls for earnings of $1.57 a share in 2000.
UnumProvident
posted fourth-quarter earnings of 57 cents a share, missing the 14-analyst estimate of 72 cents and the year-ago 75 cents. The company said the lower results were due to higher levels of terminated business in the group disability line, slower new sales and higher claim costs in some parts of its operations.
In other earnings news:
Mergers, acquisitions and joint ventures
Landry's Seafood Restaurants
(LNY)
said it will buy
Rainforest Cafe
(RAIN)
for about $125 million in cash and stock.
Offerings and stock actions
Cadence Design Systems
(CDN)
authorized the repurchase of an additional 15 million shares of its stock.
Miscellany
York International
(YRK)
said it has hired
Warburg Dillon Read
to help it review its financial and strategic alternatives. The company named Michael Young as CEO to replace John Tucker, who has held the post since October. York also said CFO Robert Galvin has left the company.
