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IN BRIEF / EARNINGS

Starbucks' Profit Up on Holiday Sales

January 22, 2004|From Reuters

Starbucks Corp. posted first-quarter profit growth of 41% on strong holiday sales and rising use of its stored-value card.

The Seattle-based company reported a profit of $110.8 million, or 27 cents a share, up from $78.4 million, or 20 cents, a year earlier. Sales rose 28% to $1.3 billion.

Before the announcement, Starbucks shares closed at $35, up 17 cents on Nasdaq.

From Reuters

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* Silicon Graphics Inc., which builds computers that create special effects and graphics for movies and flight simulators, said its second-quarter loss widened on a $30.5-million cost for swapping debt. The net loss was $37.4 million, or 18 cents a share, from $17 million, or 8 cents, a year earlier. Revenue declined 9% to $237.9 million.

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