Markets & Finance

RadioShack to Close 400 to 700 Stores


RadioShack (RSH) plans to close 400 to 700 company-operated stores, and posted a fourth quarter 2005 rate of decline of 62% in net income and 56% in diluted earnings per share. Its fourth quarter earnings per share (EPS) were 36 cents compared to 81 cents in the same period of 2004.

Dell (DELL) posts 43 cents vs. 26 cents fourth quarter earnings per share (EPS) on a 13% revenue rise. It sees a 6% to 9% first quarter revenue rise, and 39 cents to 41 cents EPS, excluding stock option expense.

KeySpan (KSE) The New York Times reports that the Long Island, NY energy company is up for sale, attracting offers of more than $6.5 billion. Consolidated Edison (ED) and National Grid have emerged as front-runners in the bidding.

Intuit (INTU) posts $1.02 vs. 77 cents second quarter EPS (GAAP) on a 15% revenue rise. It says retail sales are a bit lower than expected so far this tax season, and now sees $1.54 to $1.55 third quarter EPS (GAAP) and $2.16 to $2.21 EPS in 2006.

Campbell Soup (CPB) posts 61 cents vs. 57 cents fourth quarter EPS on a 3% sales rise.

Priceline.com (PCLN) posts 9 cents vs. 12 cents fourth quarter EPS (GAAP) despite a 4.5% revenue rise. Pro forma EPS of 28 cents were better than expected. It sees 17 cents to 21 cents first quarter pro forma EPS on about a 5% revenue rise, and about a 30% increase in gross travel bookings.

Brocade Communications Systems (BRCD) posts better-than-expected 10 cents vs. 10 cents first quarter EPS (excluding items) on a 5% sales rise.

Sirius Satellite Radio (SIRI) posts 23 cents fourth quarter loss vs. 21 cents loss as an increase in subscriber acquisition costs, and other expenses offset sharply higher revenues. It expects to have over 6 million subscribers by the end of 2006, with 1.8% average monthly churn.

NVIDIA (NVDA) posts 53 cents vs. 27 cents fourth quarter EPS on a 12% revenue rise.

PXRE Group (PXT) will increase estimates of the pre-tax impact of Hurricanes Katrina, Rita, and Wilma by $281 million to $311 million for 2005. Previously, PXRE had estimated that the net pre-tax impact would be $462 million to $477 million.

J.M. Smucker (SJM) posts 54 cents vs. 60 cents third quarter EPS on a 2.5% sales drop; excluding the divested US industrial business, sales were down 1%. The company also notes decreased sales in its consumer oils and baking business. It had unplanned inventory reductions by key customers and higher costs.

Sapient (SAPE) posts 7 cents vs. 6 cents fourth quarter EPS (adjusted) on a 25% revenue rise.

Beckman Coulter (BEC) posts 28 cents vs. 91 cents fourth quarter EPS on a 5.4% revenue drop. It notes that sales were impacted by a faster-than-expected customer shift to operating-type leases, negative absorption, investment in service, and higher costs. It sees $2.70 to $2.90 2006 EPS.

Red Robin Gourmet (RRGB) posts 33 cents vs. 34 cents fourth quarter EPS as lower restaurant-level operating margin offset 2.7% higher company-owned same-store sales and 19% higher total revenue. It sees 41 cents to 45 cents first quarter EPS on revenue of $169 million to $171 million, and $1.72 to $1.82 2006 EPS.

American Pharmaceutical Partners (APPX) posts 32 cents vs. 30 cents fourth quarter EPS on an 18% sales rise. Excluding the impact of severance and merger costs, fourth quarter EPS was 38 cents.

Weight Watchers (WTW) posts better-than-expected 38 cents vs. 41 cents fourth quarter EPS as the absence of a year-ago tax benefit offset an 8% revenue rise. It sees $2.18 to $2.28 2006 EPS, excluding stock option expense of between 8 cents to 9 cents.


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