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BUSINESS
December 20, 2000
Meade Instruments Corp. posted lower-than-expected profits and sales for the fiscal third quarter. The Irvine manufacturer of telescopes, accessories and binoculars reported that third-quarter net income dropped to $2 million, or 13 cents a share, from $7.7 million, or 50 cents a share, a year ago. Analysts were expecting quarterly earnings of 41 cents a share, according to a survey by First Call/Thomson. Sales for the quarter ended Nov. 30 declined 33% to $42.4 million.
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BUSINESS
July 21, 1998 | RICHARD NATALE
Opening weekend for Sony's "The Mask of Zorro" and Fox's "There's Something About Mary" may be deceiving in terms of their true potential. Worldwide theatrical gross for romantic adventure "Zorro" should hit $150 million and could easily exceed $200 million. If it grosses more than $100 million in the U.S., "Zorro" would move into the serious profit category for Sony. Strong holding power would do the same for "Mary," which will certainly bring a return on Fox's modest investment.
BUSINESS
March 20, 1998 | From Reuters
Here are Wall Street analysts' consensus expectations for first-quarter earnings in some key industries: * The energy sector has been hit hard this quarter, with earnings expected to fall 24%, on average, from a year earlier, according to Chuck Hill, director of research at First Call, which tracks profit forecasts on Wall Street. With oil prices hitting nine-year lows this week, earnings at big refiners and marketers such as Exxon Corp. and Mobil Corp.
ENTERTAINMENT
November 3, 1998 | BRIAN LOWRY
Who owns a television show--and thus stands to make money if a series becomes the next "Seinfeld" or "Home Improvement"--generally interests only those people who obsess over who ranks where on Entertainment Weekly's list of Hollywood power players. Fans of "ER" and "Friends" care about those shows being there for them each Thursday; they don't care how Warner Bros. has cashed in selling rerun rights.
BUSINESS
February 21, 2003 | From Reuters
Major U.S. retailers reported higher fourth-quarter profits Thursday, although many relied on cost-cutting and credit card business to offset a disappointing holiday shopping season. J.C. Penney Co. beat earnings forecasts, while Target Corp. just managed to hit its mark, but Target's shares fell amid concerns about its credit card business. Upscale retailer Nordstrom Inc. reported an 18% jump in quarterly profit, just ahead of Wall Street expectations, as it kept costs in check.
BUSINESS
April 15, 1999 | From Bloomberg News
TRW Inc. warned Wednesday that its profit would be below analysts' estimates for the first quarter because of delayed contracts in its space and defense business and shrinking margins in its automotive business. TRW expects to earn 83 cents a share, below the $1 average estimate of analysts surveyed by First Call Corp. Delays in restructuring its automotive unit have narrowed margins, the company said. The warning comes as TRW is about to complete its biggest acquisition ever.
BUSINESS
November 7, 2001 | Reuters
Univision Communications Inc. on Tuesday posted weaker third-quarter earnings than a year earlier, hurt by additional costs related to the Sept. 11 terrorist attacks. The No. 1 Spanish-language broadcaster did manage to boost revenue by 5%. The company reduced its full-year projections, citing the effect of world events on the economic climate, and said the overall television advertising market will fall sharply in the fourth quarter.
ENTERTAINMENT
December 2, 2006 | From the Associated Press
Add "The Color Purple" to Broadway's financial hit column. The stage version of Alice Walker's Pulitzer Prize-winning novel has recouped its $11-million investment -- less than a year after opening in New York, producer Scott Sanders said Friday. The musical, the story of a determined black woman's triumph over adversity, has grossed more than $60 million since opening Dec. 1, 2005, at the Broadway Theatre, one of New York's largest playhouses. It has been seen by almost 750,000 theater-goers.
BUSINESS
March 3, 2011 | By Hugo Martín, Los Angeles Times
Higher fuel costs and turmoil in the Middle East and North Africa have prompted a global airline trade group to project lower profits for the industry this year. The International Air Transport Assn. estimated Wednesday that the industry would earn $8.6 billion in 2011 from total revenues of $594 billion, down from the $9.1 billion in profits the trade group had estimated in December. Although demand for airline seats has continued to increase in the last few months, it will not totally offset the higher fuel costs, according to the trade group.
BUSINESS
July 12, 2013 | By Alejandro Lazo and Alana Semuels
Wells Fargo & Co. booked a record $5.5 billion in profit during the second quarter despite a dramatic rise in mortgage rates and signs of a slowdown in its refinancing business. The 19% year-over-year jump in earnings for the nation's largest home lender reflected the breakneck pace with which the U.S. housing industry has evolved. Although refinancing activity slowed as interest rates jumped, Wells Fargo still was able to grow its mortgage origination business by increasing the number of loans it made to home shoppers.
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