Komag Warns; FDX Reports Better-Than-Expected 3Q Results

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Based on a 55% revenue drop compared with the 1997 fourth quarter,

Komag

(KMAG)

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

First Call

):

Earnings reports and previews

FDX

(FDX) - Get Report

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

(CNG)

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

(INDI)

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

Bear Stearns

.

Tech Data

(TECD) - Get Report

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,

Mylex

(MYLX)

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.

Golden Books

(GBFE)

reported a 1997 loss of $2.18 per share, up from last year's $8.73 loss.

Broderbund

(BROD)

reported second-quarter earnings of 18 cents per share, on target with the 13-analyst estimate and up from the year-ago 15 cents.

Heilig-Meyers

(HMY) - Get Report

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

Tough luck,

Echlin

(ECH) - Get Report

. Connecticut lawmakers have defeated a bill aimed at restricting

SPX's

(SPW)

proposed $3 billion hostile takeover of the company.

Data Transmission Network

(DTLN)

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

(FNF) - Get Report

said a subsidiary will merge with

Matrix Capital

(MTXC)

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

Global Motorsport

(CSTM) - Get Report

, privately held

Golden Cycle

said it wants to replace Global's directors and review its books.

Offerings and stock actions

Lernout & Hauspie

(LHSPF)

set a two-for-one stock split for shareholders of record April 1, payable April 15.

First Liberty Financial

(FLFC)

approved a three-for-two stock split for shareholders of record April 13, payable April 27.

Comings and goings

C-COR Electronics

(CCBL)

President and CEO Scott Chandler has resigned. Chairman Richard Perry will serve as acting CEO.

Storage USA

(SUS)

President and CEO William Razzouk has resigned.