warned it sees second-quarter earnings and sales falling below first-quarter figures because of slower PC sales. The 15-analyst
outlook called for earnings of 14 cents a share vs. the year-ago loss of 23 cents. In the first quarter, the company made 12 cents. The PC direct marketer said many of its customers were waiting for
Pentium III chip, released Friday.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
said it expects its first full year of profitability to be in 2001.
reported a fourth-quarter loss of $2 a share, a penny wider than the eight-analyst outlook and worse than the year-ago loss of $1.21. The company said its 1999 targets include $35 million in annual revenue, $300 million in capital outlays and 10,000 customers.
reported fourth-quarter earnings of 8 cents a share, including a 3-cent provision for an inventory adjustment. The three-analyst forecast called for operating earnings of 13 cents vs. the year-ago 12 cents.
said it expects to record first-quarter earnings of 51 cents to 55 cents a share because of strong demand. The four-analyst view called for 36 cents vs. the year-ago 23 cents.
said its first-quarter and full-year earnings will be at "record" levels and that it approved the repurchase of $250 million in stock. The company also said it will restructure its Brazilian operation's balance sheet to lessen the impact of fluctuations it the country's
posted a fourth-quarter loss of 42 cents a share, including charges. The single-analyst forecast called for an operating loss of 15 cents vs. the year-ago loss of 30 cents.
In other earnings news:
Mergers, acquisitions and joint ventures
Shop At Home
agreed to buy
WBPT TV station in Connecticut to expand its reach into a portion of the New York market. Terms of the deal were not disclosed.
Offerings and stock actions
set a 2-for-1 stock split.
said it will buyback up to $200 million in stock.
said it began a search for a new CEO to replace Andrew Rudd.
confirmed the resignations of two senior vice presidents, Shamel Rushwin and Chris Theodore. Both left to work at
lowered prices on its
Precision WorkStation 210
by up to 9.5%.
Lernout & Hauspie
said its founders will buy up to $40 million in company stock.
named COO R. Douglas Kahn president and chief executive, effective April 1. He will replace Frederick A. Landman, who resigned.
Pier 1 Imports
named CEO Marvin Girouard to the additional post of chairman. Clark Johnson recently retired as chairman.
said it hired
Salomon Smith Barney
to help it investigate strategic alternatives for its
Jim Walter Resources
coal mining and methane gas unit.