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Earnings Roundup

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August 08, 2007|From Times Wire Services

Guitar Center Inc. said second-quarter net income fell 29% as sales missed expectations and the company took acquisition-related charges. Quarterly profit fell to $9.6 million, or 32 cents a share, from $13.4 million, or 47 cents, a year earlier. Revenue rose 13% to $518.9 million. Results include 6 cents a share in costs related to the company's takeover. Westlake Village-based Guitar Center is being acquired by Bain Capital Partners in a deal expected to close in the fourth quarter.

Leap Wireless International Inc., owner of the Cricket and Jump mobile-phone services, said second-quarter profit declined 56% on expansion costs. Net income dropped to $3.25 million, or 5 cents a share, from $7.51 million, or 12 cents, a year earlier, the San Diego-based company said. Sales rose 47% to $393.2 million.

Playboy Enterprises Inc., publisher of the most widely read men's magazine, swung to a profit of $1.9 million on rising revenue from video-on-demand and a new Playboy Club in Las Vegas.

Second-quarter net income was 6 cents a share, contrasted with a loss of $3.3 million, or 10 cents a share, a year earlier, Chicago-based Playboy said. Sales rose 6.5% to $85.7 million.

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