Based on a 55% revenue drop compared with the 1997 fourth quarter,
warned that its first-quarter loss will "significantly exceed" the four-analyst estimate of a loss of 53 cents per share. The company made 33 cents per share in the year-ago period.
In other post-close news (earnings estimates from
Earnings reports and previews
reported third-quarter earnings of 65 cents per share, beating the 14-analyst estimate of 58 cents and the year-ago 44 cents. The company said it expects international operations to be profitable in the fourth quarter but that full-year 1998 results will come in below last year's.
Consolidated Natural Gas
said first-quarter earnings will not meet the 12-analyst estimate of $1.56 per share because of the warm winter and losses in its non-utility energy marketing services. The company made $1.74 last year.
Individual Investor Group
reported a fourth-quarter loss of 18 cents per share, below the single-analyst estimate of break-even but up from the year-ago 19-cent loss. The company said it is exploring strategic initiatives to improve shareholder value with the help of
reported fourth-quarter earnings of 53 cents per share, in line with the 15-analyst prediction of and up from the year-ago 40 cents.
Blaming weak demand in distribution channels,
said it expects to report a deeper first-quarter loss than the four-analyst prediction of 6 cents. The company made a profit of 11 cents per share in the year-ago period.
reported a 1997 loss of $2.18 per share, up from last year's $8.73 loss.
reported second-quarter earnings of 18 cents per share, on target with the 13-analyst estimate and up from the year-ago 15 cents.
reported a fourth-quarter loss of 50 cents per share, including a charge from the company's profit improvement plan, but did not make operating figures available. The 13-analyst estimate called for a 10-cent profit versus last year's 20-cent profit.
Mergers, acquisitions and joint ventures
. Connecticut lawmakers have defeated a bill aimed at restricting
proposed $3 billion hostile takeover of the company.
Data Transmission Network
said it has received an unsolicited buyout offer in the range of $36 to $41 per share from a group of investors led by Jerrold Pressman. The company said its management has not expressed any interest in selling.
Fidelity National Financial
said a subsidiary will merge with
in a pooling of interests. Each Matrix share will be converted to the right to 0.8 of a Fidelity share.
Reacting to a rebuff of its offer to acquire
, privately held
said it wants to replace Global's directors and review its books.
Offerings and stock actions
Lernout & Hauspie
set a two-for-one stock split for shareholders of record April 1, payable April 15.
First Liberty Financial
approved a three-for-two stock split for shareholders of record April 13, payable April 27.
Comings and goings
President and CEO Scott Chandler has resigned. Chairman Richard Perry will serve as acting CEO.
President and CEO William Razzouk has resigned.