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Year ended January 31
Parent shr 5.73 yen vs 5.80
Div five yen vs same
Net 7.01 billion vs 6.77 billion
Current 24.06 billion vs 23.76 billion
Operating 37.62 billion vs 45.26 billion
Sales 630.08 billion vs 810.89 billion
NOTE - Company forecast for current year parent div five
yen, net seven to eight billion, current 24 billion, sales 610
billion.
REUTER
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New foreign shipbuilding orders received
by Japanese yards in February rose to six vessels totalling
329,999 gross tons from three ships of 79,499 tons in January,
the Japan Ship Exporters Association said.
This compared with six ships of 125,150 gross tons a year
earlier, an association official said.
The backlog of orders at end-February was 157 ships of 4.41
mln gross tons against 161 ships of 4.39 mln a month earlier
and 265 vessels of 6.81 mln a year earlier, an association
official said.
REUTER
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The Bank of England said it forecast a
shortage of around 450 mln stg in the money market today.
Among the main factors affecting liquidity, bills maturing
in official hands and the take-up of treasury bills will drain
some 650 mln stg while banker's balances below target will take
out around 50 mln stg.
Partly offsetting these outflows, exchequer transactions
and a fall in note circulation will add some 200 mln stg and 50
mln stg to the system respectively.
REUTER
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Net profit 16.66 mln H.K. Dlrs vs 11.28 mln
Total divs to shareholders 7.5 mln vs nil
Note - Firm underwrote 23 capital market issues in 1986.
Next industrial transaction in May is syndication of a 35 mln
U.S. Dlr loan to the Shanghai Ta Chun Tyre Project. The company
is a joint venture merchant bank between the <Bank of China>,
<First National Bank of Chicago> and the Industrial Bank of
Japan <IBJT.T>
REUTER
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The heaviest rains for seven months are
believed to have saved more than one mln hectares of
drought-threatened crops in southeast China, the official New
China News Agency said.
This week's rains have alleviated drought conditions in
Guangdong Province, the agency said.
China has warned that this year's harvest will be affected
by drought in many areas.
REUTER
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Taiwan's central bank issued 12 billion
Taiwan dlrs worth of certificates of deposit after issuing six
billion yesterday, bringing CD issues so far this year to
115.47 billion dlrs, a bank official told Reuters.
The new CDs have maturities of six months, one year and two
years and bear interest rates ranging from 4.07 pct to 5.12
pct, he said.
The issues are aimed at helping curb the growth of M-1b
money supply, which is the result of large foreign exchange
reserves. The reserves now total more than 51 billion U.S.
Dlrs.
REUTER
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Taiwan's central bank is considering
proposals to ease currency restrictions to reduce foreign
exchange reserves of 51 billion U.S. Dlrs, a local newspaper
reported today.
The China Times, which has close ties with the government,
quoted central bank governor Chang Chi-cheng as saying the
government had agreed in principle to liberalise financial
restrictions.
The bank was considering proposals to allow firms and
individuals to hold foreign exchange and invest in foreign
stocks for the first time, Chang was quoted as saying.
All foreign exchange must now be handed to local banks and
exchanged for local currency. Firms and individuals may only
invest in foreign government bonds, treasury bills and
certificates of deposit.
Central bank and other government officials were not
available to comment on the report.
Economists said it was likely that the government would
ease foreign exchange controls, but only gradually.
They said vast foreign currency reserves, earned mainly
from huge trade surpluses with the United States, made Taiwan a
target for U.S. Protectionism.
Taiwan's trade surplus with the U.S. Rose to 13.6 billion
U.S. Dlrs last year compared with 10.2 billion in 1985.
"The central bank has to go in this direction," said Su
Han-min, chief economist with the International Commercial Bank
of China. "If they don't quicken the pace, Washington could
retaliate and really damage Taiwan."
REUTER
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Maize deliveries to Zimbabwe's
state-owned Grain Marketing Board (GMB) will fall by over 65
pct this year, following a prolonged dry spell, agricultural
industry sources said.
They said 1987 maize deliveries are expected to decline to
around 520,000 tonnes from 1.6 mln tonnes last year. About 60
pct of the maize will be delivered by large-scale commercial
farmers and the balance by small-scale peasant producers.
Although this will be the lowest level of maize deliveries
since 1980, the sources said there is no danger of a food
shortage in Zimbabwe.
While annual maize consumption is estimated at 750,000
tonnes, the GMB stockpile is currently around 1.8 mln tonnes,
which means that even with the sharply reduced production this
year Zimbabwe has enough maize for the next three years.
The sources said the lower maize crop would be offset by a
25 pct increase in cotton production to 315,000 tonnes from
248,000 tonnes last year, and by a rise of 20 pct in soybean
deliveries to 100,000 tonnes from 84,000 tonnes in 1986.
REUTER
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Japanese officials sought to convince the
U.S. That a U.S.-Japan pact on microchip trade is working ahead
of an April 1 deadline set by the U.S. For them to prove their
case.
"We are implementing the agreement in good faith and the
situation does not run counter to the pact," Osamu Watanabe,
Director of the Ministry of International Trade and Industry's
(MITI) Americas and Oceanic Division, told foreign reporters.
"The effects of the measures we have taken and are taking
are emerging in the market place," he said.
U.S. Trade officials have repeatedly accused Japanese
microchip makers of violating the pact by continuing to sell at
below cost in markets outside Japan and the United States.
The agreement, signed last September, aimed at halting
predatory Japanese pricing policies and increasing U.S.
Semiconductor firms' access to the Japanese market.
The comments by MITI officials followed a call by Prime
Minsiter Yasuhiro Nakasone to clear up any misunderstandings on
the U.S. Side about the pact, Watanabe said.
Yukio Honda, director of MITI's Industrial Electronics
Division, denied that Japanese chipmakers were selling at below
cost in third countries.
MITI's call to Japanese chip makers last month to cut
production of key memory chips in the first quarter of this
year has begun to dry up the source of cheap chips for sale in
the non-regulated grey market, Honda said.
"The grey market exports from Japan are shrinking now, but
in contrast U.S. And South Korean companies are expanding
market share because of their cheaper prices," Honda said.
MITI plans to take further steps to reduce the excess
supply of inexpensive chips which developed in Japan after the
pact was formed because of a slump in Japanese semiconductor
exports to the United States, he added.
The ministry will soon release its supply-demand guidelines
for the second quarter and suggested production volumes are
likely to be lower than that for the first quarter, he said.
Despite businessmen's ingenuity in finding ways around any
artificial controls, regulation of supply and demand should
bring positive results, Watanabe said. "I am optimistic," he
added.
REUTER
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Norway's parliament has approved an
extensive trade ban against South Africa but left shipowners a
key loophole through which controversial oil shipments on
Norwegian tankers may continue, government officials said.
The unilateral boycott gives domestic companies until late
September to cut trade ties with South Africa and Namibia.
Although forbidding crude oil shipments to South Africa on
Norwegian-owned tankers, the boycott makes a crucial exception
for ships whose final destination is decided while at sea. As
oil cargoes are often resold after loading, critics said the
door will be left open for continued shipments to South Africa.
Norwegian tankers supplied South Africa with about 30 pct
of its crude oil imports during the early 1980s, but the trade
has dropped sharply to just one cargo in the last three months,
trade ministry officials said.
The latest trade figures show Norwegian imports from South
Africa dropped 36 pct to 160 mln crowns during the first eight
months of 1986, while exports plunged 52 pct to 265 mln crowns
from the year-ago figure.
The boycott legislation now goes to the upper house for
formal ratification later this week, parliamentarians said.
REUTER
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Hanson Trust Plc <HNSN.L> said it will
sell its Finlays confectionery, tobacco and newsagent business
to a specially formed company, <Finlays Plc> for an estimated
16.9 mln stg cash.
The chain of stores was acquired when Hanson took over
<Imperial Group Plc> last year.
REUTER
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Underlying dollar sentiment is bearish,
and operators may push the currency to a new low unless Japan
takes steps to stimulate its economy as pledged in the Paris
accord, foreign exchange analysts polled by Reuters said here.
"The dollar is expected to try its psychological barrier of
150.00 yen and to fall even below that level," a senior dealer
at one leading bank said.
The dollar has eased this week, but remains stable at
around 151.50 yen. Six major industrial countries agreed at a
meeting in Paris in February to foster currency stability.
Some dealers said the dollar may decline in the long term,
but a drastic fall is unlikely because of U.S. Fears of renewed
inflation and fears of reduced Japanese purchases of U.S.
Treasury securities, needed to finance the U.S. Deficit.
Dealers generally doubted whether any economic package
Japan could adopt soon would be effective enough to reduce its
trade surplus significantly, and said such measures would
probably invite further U.S. Steps to weaken the dollar.
Under the Paris accord, Tokyo promised a package of
measures after the fiscal 1987 budget was passed to boost
domestic demand, increase imports and cut its trade surplus.
But debate on the budget has been delayed by an opposition
boycott of Parliamentary business over the proposed imposition
of a five pct sales tax, and the government has only a slim
chance of producing a meaningful economic package in the near
future, the dealers said.
If no such steps are taken, protectionist sentiment in the
U.S. Congress will grow, putting greater downward pressure on
the dollar, they said.
The factors affecting the U.S. Currency have not changed
since before the Paris accord, they added.
"Underlying sentiment for the dollar remains bearish due to
a still-sluggish U.S. Economic outlook, the international debt
crisis triggered by Brazil's unilateral suspension of interest
payments on its foreign debts and the reduced clout of the
Reagan administration as a result of the Iran/Contra arms
scandal," said a senior dealer at a leading trust bank.
"There is a possibility that the dollar may decline to
around 140.00 yen by the end of this year," said Chemical Bank
Tokyo branch vice president Yukuo Takahashi.
But operators find it hard to push the dollar either way
for fear of possible concerted central bank intervention.
Dealers said there were widespread rumours that the U.S.
Federal Reserve telephoned some banks in New York to ask for
quotes last Wednesday, and even intervened to sell the dollar
when it rose to 1.87 marks.
The Bank of England also apparently sold sterling in London
when it neared 1.60 dlrs on Wednesday, they said.
But other dealers said they doubted the efficacy of central
bank intervention, saying it may stimulate the dollar's decline
because many dealers are likely to await such dollar buying
intervention as a chance to sell dollars.
However, First National Bank of Chicago Tokyo Branch
assistant manager Hiroshi Mochizuki said "The dollar will not
show drastic movement at least to the end of March."
Other dealers said the U.S. Seems unwilling to see any
strong dollar swing until Japanese companies close their books
for the fiscal year ending on March 31, because a weak dollar
would give Japanese institutional investors paper losses on
their foreign holdings, which could make them lose interest in
purchases of U.S. Treasury securities.
U.S. Monetary officials may refrain from making any
comments this month to avoid influencing rates, they said.
REUTER
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The Bank of England said it did not
operate in the money market in the morning session.
Earlier, the central bank had estimated the deficit in the
system today at some 450 mln stg.
REUTER
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A Cypriot tanker was set ablaze in the
Persian Gulf yesterday after an Iranian gunboat fired missiles
at it, shipping sources quoting reports from Japanese tankers
said today.
No casualties were seen and the tanker Pivot, laden with
crude oil, was towed towards Dubai by tugs after they put out
the fire, the sources said.
Iranian gunboats usually check a ship's nationality and
cargo before attacking but the Pivot was hit near Bu Musa
island without warning, they added.
Reuter
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Employers in Rotterdam's troubled
general cargo sector have decided to restart stalled redundancy
procedures within a week, employers' organisation labour
relations manager Gerard Zeebregts told Reuters.
Port and transport union spokesman Bert Duim said the
employers' decision would not lead to the immediate resumption
of eight weeks of strikes in the sector.
The strike action was called off on Friday after an interim
court injunction against the employers' plans for 350
redundancies this year.
A court in Amsterdam ruled last week the employers had made
an error in the complicated procedure for obtaining permission
for the redundancies and therefore could not proceed until a
final ruling on May 7.
Zeebregts said the initiation of new procedure might well
take up to two months, but the employers were not prepared
simply to sit and wait for the May 7 court ruling with the
chance they would have to start all over again in any case.
"We cannot afford not to continue with our plans. The
strikes have already cost a lot of money and damaged business,
and further delays would do even more damage," Zeebregts said.
The campaign of lightning strikes in the port's general
cargo sector began on January 19 in protest at employers' plans
for 800 redundancies from the sector's 4,000 strong workforce
by 1990, starting with 350 this year.
Reuter
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Commercial International Corp said
it has completed the previously-announced acquisition of most
of the assets of Growers Distributing International Corp, a
table grape marketer, for an undisclosed amount.
It said the entire purchase price will be payable over a
three-year period and based on a percentage of pre-tax earnings
of the acquired operation.
The company said it has an option to acquire Growers' cold
storage facility and related assets in Tulare County, Calif.
Growers is owned by Commercial chairman Sid Schuman Jr. and
director Arnold T. Cattani Jr.
Reuter
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<Swiss Corp for Microelectronics and
Watchmaking Industries> said it has acquired International time
corp from privately-held Timex corp for undisclosed terms.
International Time is exclusive distributor of Swiss Corp's
Tissot watches in the U.S.
Reuter
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Wavehill International Ventures Inc
said it has completed the previously-announced acquisition of
Personal Computer Rental corp for 500,000 restricted common
shares, giving former shareholders of Personal Computer a 25
pct interest in the combined company.
Reuter
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OII Holdings Corp, a company formed by
Kohlberg Kravis Roberts and Co, said it received and purchased
about 58.3 mln shares or 96 pct of Owens-Illinois Inc common
stock and 50,275 of 4.75 dlr cumulative convertible preference
shares of Owens, or about 83 pct.
The company said its tender offer for all common and
preference shares expired last night. It said Owens-Illinois
will be merged into a subsidiary of OII Holdings on March 24.
Common shares not bought in the offer will be converted into
the right to receive 60.50 dlrs per share in cash, the tender
price. The preference stock has been called.
Reuter
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Shr one cent vs nine cts
Net 51,057 vs 554,878
Sales 24.5 mln vs 21.3 mln
First half
Shr 15 cts vs five cts
Net 1,026,479 vs 313,676
Sales 48.4 mln vs 37.4 mln
NOTE: Net includes gains of 28,000 dlrs, or one cent a
share, vs 61,000 dlrs, or seven cts a share, in quarter and
453,000 dlrs, or seven cts a share, vs 61,000 dlrs, or one cent
a share, in half from tax loss carryforward
Reuter
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The European Community (EC) yesterday
warned Japan and the United States, its main trading partners,
that friction over trade issues is affecting the EC's relations
with both countries.
EC foreign ministers issued a statement deploring Japan's
continued trade imbalance and appealed for the country to make
a greater effort to open up its markets. They also said they
were disturbed by a draft bill before the U.S. Congress that
would impose permanent quotas on textile imports and were
prepared to react. The U.S. Administration has already
distanced itself from the bill.
EC External Trade Commissioner Willy De Clercq has written
to his U.S. Counterpart, Trade Representative Clayton Yeutter,
outlining the EC's concerns.
The statement said ministers were very disturbed by U.S.
Moves towards protectionism. "The adoption of such measures
would not fail to have a negative effect on the process of
multilateral negotiations just started, as well as on bilateral
relations," it said.
Any unilateral U.S. Moves would leave the EC no option but
to react according to the laws of the General Agreement on
Tariffs and Trade, it said.
In a separate statement on Japan, the EC ministers said
they "deplore the continued aggravation of the imbalance in
trade (and) expect Japan to open up its market more."
The statement said the EC would continue to insist that
Japan boost imports and stimulate domestic demand.
Ministers also called on the EC Commission to prepare a
report on U.S.-Japanese trade for July this year to enable them
to take appropriate action where necessary.
One diplomat said the call for a report showed ministers
were determined not to let the Japanese question drop. "It will
be back on the table again and again," the diplomat said.
De Clercq, talking to journalists during the meeting, said,
"There is a certain nervousness, a growing impatience within the
Community concerning trade relations with Japan."
But diplomats said the EC is keen to negotiate with Tokyo
to solve the problem rather than embark on a costly and
damaging trade war, and the ministers called for more
cooperation with Japan in industry and research.
Reuter
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Shr 15 cts vs 14 cts
Net 614,000 vs 449,000
Revs 4,186,000 vs 4,124,000
Avg shrs 4,131,000 vs 3,321,000
Year
Shr 47 cts vs 42 cts
Net 1,768,000 vs 1,394,000
Revs 15.0 mln vs 12.5 mln
Avg shrs 3,799,000 vs 3,324,000
Reuter
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<Shamrock Holdings Inc> said
its subsidiary, Shamrock Holdings of California, acquired
controlling interest in <DBMS Inc> through the purchase of
575,000 shares of its preferred stock.
The company said the stock was purchased for an undisclosed
amount from an unnamed group of investors.
Shamrock said Raymond Nawara, a former executive vice
president of DBMS, a privately-held software company, also
granted it options and voting rights on a major portion of his
shares of common stock.
The combination of preferred and common stock holdings
permit Shamrock and Nawara to exercise voting control over
approximately 53 pct of the shares of the company.
Shamrock also said Nawara has been elected president of
DBMS and one of its directors.
Reuter
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French state agricultural bank <Caisse
Nationale du Credit Agricole> has joined the group led by
publishing house <Hachette> which is bidding for control of the
state television station TF1, replacing <Banque Nationale de
Paris> which has withdrawn, Hachette said in a statement.
Credit Agricole's stake in the consortium will be 3.5 pct.
Last week the broadcasting supervisory board asked Hachette
to remove BNP from the consortium because the bank had acted as
adviser to the government for the imminent privatisation of
TF1.
Reuter
| [
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0,
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Shr 10 cts vs seven cts
Net 3,501,000 vs 2,420,000
Sales 332.7 mln vs 274.9 mln
Qtly div four cts vs four cts prior
Pay April Six
Record March Six
Reuter
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Gillette Co <GS> exercised an option to
take a 51.2 pct stake in the French pen firm Waterman which it
had previously been authorised to do by the French government,
the French stockbrokers' association (CSAC) said.
Gillette has given an undertaking to intervene on the
Bourse until April 7 to prevent Waterman shares from falling
below 650 francs, it added.
This compares with yesterday's rate of 625 francs.
Under the agreement concluded last November between
Waterman owners Francine and Grace Le Foyer-Gomez and Alice
Lundgren and the Gillette group, Gillette agreed to acquire
51.2 pct of the capital of Waterman at 700 francs a share.
Gillette is buying a total 180,000 shares, valuing the deal
at 126 mln francs.
Reuter
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The Bank of England said it had revised
its forecast of the shortage in the money market today down to
400 mln stg from 450 mln stg.
REUTER
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Shr loss 26 cts vs loss 12 cts
Net loss 289,649 vs loss 138,372
Revs 5,944,286 vs 5,902,074
Reuter
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Japan told the General Agreement on
Tariffs and Trade that South Korea's five-year import
diversification plan violated the spirit of the world trade
governing body, a Foreign Ministry spokesman said.
The notification came in Japan's answer to a recent GATT
questionnaire on unfair trade practices, the spokesman said.
In the five-year plan, which starts this year, South Korea
aims to reduce its dependency on Japan as a source of imported
goods and to increase imports from the U.S. And Europe.
Japan's move came after several unsuccessful bilateral
negotiations on the plan, the spokesman said. "The notification
does not represent anything resembling a formal complaint, nor
is it intended to pressure South Korea. It is a routine
procedure followed by all other GATT member states."
Reuter
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The Bank of England said it had provided
the money market with 16 mln stg help in the afternoon session.
The Bank did not operate in the market in the morning and
earlier revised its estimate of the shortage in the system
today down to 400 mln stg from 450 mln.
The central bank purchased bills outright in band one at
10-3/8 pct comprising two mln stg of local authority bills and
14 mln stg of bank bills.
REUTER
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Atico Financial Corp said it has executed
a definitive agreement to acquire 93.5 pct of Intercontinental
Bank of Dade County, Fla., from Intercontinental Bank Holding
Co for an undisclosed amount of cash and common stock.
It said closing is subject to regulatory approval.
Atico said in connection with the acquisition it will apply
to become a registered bank holding company and convert its 99
npct owned Atico Savings Bank subsidiary to a state-chartered
commercial bank.
Intercontinental had year-end assets of about 487 mln dlrs.
Atico had year-end assets of about 534 mln dlrs.
Reuter
| [
1,
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Shr 12 cts vs 10 cts
Net 1,683,000 vs 1,407,000
Revs 42.2 mln vs 28.8 mln
12 mths
Shr 83 cts vs 70 cts
Net 11.9 mln vs 10.0 mln
Revs 160.3 mln vs 126.5 mln
NOTE: prior qtr and yr ended Jan 26.
Reuter
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Shr 1.40 dlrs vs 1.38 dlrs
Net 1,928,800 vs 1,485,600
Sales 35.2 mln vs 33.5 mln
Avg shrs 1,350,800 vs one mln
Reuter
| [
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Shr 26 cts vs 18 cts
Net 879,000 vs 615,000
Revs 6,394,000 vs 5,561,000
Reuter
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Qtly div 10 cts vs 10 cts prior
Pay April 30
Record April Three
Reuter
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|
Baker International Corp said it has
signed a definitive agreement to sell the assets and business
of the electric submersible oilwell pump product line in the
continental U.S. of its Baker Oil Tools Inc subsidiary to Trico
Industries Inc <TRO> for an undisclosed amount of cash and
other consideration.
The company said the transaction is subject to Hughes Tool
Co <HT> and Baker shareholder approval of the Baker/Hughes
merger. The U.S. Justice Department has announced that it will
require divestiture of the product line for approval of the
merger.
Baker said the transaction is subject to approval by the
Justice Department and the boards of Baker, Hughes and Trico.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Shr 38 cts vs 92 cts
Net 1,042,000 vs 2,510,000
Revs 20.6 mln vs 29.6 mln
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Oper shr profit eight cts vs loss eight cts
Oper net profit 604,996 vs loss 615,345
Sales 18.4 mln vs 17.8 mln
NOTE: Net excludes losses from discontinued operations of
156,098 dlrs vs 732,924 dlrs.
1986 net excludes tax credits of 271,538 dlrs.
1985 net includes gain 480,0009 dlrs from reversl of
recapture taxes.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 31 cts vs 53 cts
Net 4.2 mln vs 7.1 mln
Revs 16.1 mln vs 27.2 mln
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 19 cts vs three cts
Net 515,000 vs 87,000
Revs 6,830,000 vs 4,107,000
Six mths
Shr 36 cts vs 12 cts
Net 955,000 vs 327,000
Revs 14.2 mln vs 9,755,000
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Oper shr profit one ct vs loss four cts
Oper net profit 104,386 vs loss 196,265
Revs 8,174,652 vs 2,309,979
Avg shrs 6,285,714 vs 5,500,000
1st half
Oper shr profit nil vs loss eight cts
Oper net profit 26,541 vs loss 419,758
Revs 12.0 mln vs 5,088,134
Avg shrs 5,836,735 vs 5,500,000
NOTE: Current year net both periods excludes tax credit of
107,370 dlrs.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Taiwan is scheduled to tender tonight
for 450,000 to 475,000 tonnes U.S. corn, export sources said.
The tender calls for 11 cargoes for delivery from April
through October with early shipments FOB or Pacific Northwest,
they said.
Reuter
| [
0,
1,
0,
0,
1,
0,
0,
0,
0,
0
] |
Clabir Corp said its 86 pct
owned affiliate, Ambrit Inc <ABI>, has agreed to acquire the
Popsicle Industries division of <Sara Lee Corp of Canada Ltd>
for about 37 mln Canadian dlrs in cash.
Clabir said the purchase from the Sara Lee Corp <SLE>
subsidiary is worht about 28 mln U.S. dlrs.
The agreement is subject to Canadian regulatory approval.
Popsicle Canada, through its 19 licensees, is the largest
maker and distributor of frozen novelty products in Canada,
Clabir added.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
St. Jude Medical Inc said its board
declared a special dividend of one right for each outstanding
share held of the company's common stock, payable to holders of
record April Six.
It said each right entitles the holder to buy one-tenth of
a share of preferred stock of St. Jude at an exercise price of
100 dlrs.
St. Jude said the rights may be exercised only after 10
days following the acquisition of, or commencement of a tender
offer for, at least 20 pct of the company's common stock.
The company added that it has no reason to believe St. Jude
Medical is a takeover target.
Reuter
| [
0,
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0,
1,
0,
0,
0,
0,
0,
0
] |
Adams-Russell Electronics Co Inc
said it has acquired Hermetronics PLC, a maker of hermetic
integrated circuit packages, for about 600,000 dlrs.
The company said HErmetronics is expected to have sales of
over 800,000 dlrs for the year ending this month.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Qtly div 50 cts vs 50 cts prior
Pay May 15
Record April Seven
NOTE: Partnership said holders of common and preference
units for all of 1987 are expected to have no net taxable
income.
Reuter
| [
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[
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1,
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] |
|
The U.S. current account deficit
widened to a record 36.84 billion dlrs on a balance of payments
basis in the October-December fourth quarter of 1986 from a
revised 35.29 billion dlrs in the third quarter, the Commerce
Department said.
Previously, the department said the third-quarter deficit
was 36.28 billion dlrs.
For the full year 1986, the current account, a broad
measure of trade performance, was in deficit a record 140.57
billion dlrs after a 117.68 billion dlr deficit in 1985.
The department said an increase in the merchandise trade
deficit during the fourth quarter to 38.4 billion dlrs from
37.1 billion dlrs in the third quarter was the main reason for
the worsening deficit.
Net service receipts declined to 5.5 billion dlrs in the
final quarter from six billion dlrs in the third quarter.
The current account includes trade in merchandise and
services as well as U.S. financial transactions with the rest
of the world.
The department said the merchandise trade deficit for all
of 1986 grew to 147.7 billion from 124.4 billion dlrs in 1985.
Net service receipts were 22.3 billion dlrs in 1986,
compared with 21.7 billion dlrs in 1985, the department said.
Net unilateral transfers during the fourth quarter last
year, covering foreign aid and government pensions, were down
to 3.9 billion dlrs from 4.2 billion dlrs in the third quarter
because of fewer U.S. government grants to Mideast countries.
Liabilities to foreigners reported by U.S. banks rose 35.3
billion dlrs between October and December after increasing 30.1
billion dlrs in the third quarter.
For the full year, these liabilities grew 77.4 billion dlrs
after rising by 40.4 billion dlrs in 1985.
The department said inflows were boosted in the fourth
quarter by international activities of Japanese banks and
strong demand within the United States to finance acquisitions.
Net foreign sales of U.S. Treasury securities by foreigners
were 2.7 billion dlrs in the quarter after purchases of 500 mln
dlrs in the third quarter.
Net foreign purchases of securities other than U.S.
Treasury securities in the fourth quarter were 11.8 billion
dlrs, compared with 17.2 billion dlrs in the third quarter.
For all 1986, foreign purchases of securities excluding
U.S. Treasury securities were a record 70.7 billion dlrs,
surpassing the previous record 50.9 billion dlr total in 1985.
Claims on foreigners reported by U.S. banks in the fourth
quarter rose 29.9 billion dlrs after a 19.3 billion dlr
third-quarter increase.
U.S. sales of foreign securities rose to 2.7 billion dlrs
from 300 mln dlrs in the third quarter because of a sharp
selloff of foreign stocks and bonds, the department said.
Outflows for U.S. direct investment abroad fell to 5.7
billion dlrs from eight billion dlrs in the third quarter.
Foreign direct investment in the United States increased
14.4 billion dlrs in the fourth quarter, compared with 5.6
billion dlrs in the previous quarter, because of stepped-up
acquisitions, the department said.
Foreign official assets in the United States increased 800
mln dlrs between October and December after rising 15.4 billion
dlrs in the third quarter.
For the full year 1986, foreign official assets grew 33.4
billion dlrs after a 1985 decrease of 1.9 billion dlrs as
foreign monetary authorities intervened heavily in exchange
markets late in the year as the dollar fell, commerce said.
Reuter
| [
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] |
The Bank of England said it provided the
money market with late assistance of around 120 mln stg.
This brings the bank's total help today to some 136 mln stg
and compares with its forecast of a 400 mln stg shortage in the
system.
REUTER
| [
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Memory Protection Devices Inc said it
expects to close the previously announced acquisition of the
assets and liabilities of Bogen, a division of <Lear Siegler
Inc>, on April one.
Memory Protection Devices said it received a senior loan
commitment letter as well as the requisite waiver under the New
Jersey Environmental Control Reclamation Act, both of which are
necessary to complete the acquisition. It declined to provide
further details.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
<Canadian Foremost Ltd>,
earlier reporting lower 1986 net profit, said negotiations are
continuing concerning the previously announced sale of the
company's 49 pct interest in <Macedon Resources Ltd>.
If concluded, the sale would be refelected in the company's
1987 results, Foremost said without elaborating.
It also said lower revenues from the last half of 1986 are
expected to continue during 1987, but a strong cash and working
capital position will enable Foremost to go on developing
traditional and new markets. It earlier said 1986 earnings fell
to 1,042,000 dlrs from year-ago 2,510,000 dlrs.
Reuter
| [
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0,
0,
0,
0,
0,
0,
0,
0
] |
Texas International Co said it
has completed the previously-announced 120 mln dlr sale of its
domestic oil and natural gas reserves to <Total Compagnie
Francaise des Petroles>.
It said on closing it used part of the proceeds to retire
all 100 mln dlrs of its U.S. bank and U.S. senior debt and the
rest will be used for general corporate purposes.
Reuter
| [
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0,
0,
0,
0,
0,
0,
0,
0
] |
Shr 70 cts vs 47 cts
Net 4,185,000 vs 2,433,000
Sales 52.9 mln vs 35.7 mln
Avg shrs 6,000,000 vs 5,200,000
Year
Shr 1.20 dlrs vs 71 cts
Net 6,759,000 vs 3,717,000
Sales 130.4 mln vs 85.3 mln
Avg shrs 5,622,000 vs 5,200,000
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Gruen Marketing Corp said it
expects to report earnings for the year ended January 31 of 60
to 65 cts per share on about 7,309,000 average shares, down
from 78 cts on 6,545,000 shares a year before.
It said sales fell about 10 pct from the year-earlier 104.9
mln dlrs.
Reuter
| [
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0,
0,
0,
0,
0,
0
] |
Already strained relations between
the U.S. And the European Community (EC) are likely to get
worse before they get better, director general of the Dutch
Economics Ministry's foreign affairs division Frans Engering
said.
Speaking at an American Chamber of Commerce lunch in The
Hague, Engering noted the developing history of crises over
steel, citrus and pasta, and warned of more to come.
"I consider the strident tone of US declarations on Airbus
ill-advised, and the EC fats and oils tax proposal a dangerous
provocation," he said. "I feel that we shall probably have to
deal with quite a few more crises in the foreseeable future."
Not only is the US Congress clearly very determined to get
the American balance of payments into better shape, but the
risks of brinkmanship are all the greater because the EC has
its own constraints in meeting outside pressure, Engering
noted.
"If we ask ourselves whether it is perhaps inevitable that
we keep pushing each other to the brink of actual trade war,
then I think the answer is probably yes," he said.
In order to reduce these tensions, decision-making in the
EC must become less self-centred, and the US Administration
will have to exercise the authority to convince Congress and
pressure groups of the need for accommodation, he added.
Reuter
| [
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] |
<Qintex America Ltd> said its offer
for 3.3 mln Princeville Development Corp shares has been
extended to March 19 from March 18.
As of yesterday, Qintex said, 7,060,197 Princeville shares
had been tendered in response to the offer and not withdrawn,
down from over 7.2 mln on March 10.
Qintex said it is extending the offer to allow Princeville
shareholders to assess the sale announced last week of
Princeville Airways Inc to Aloha Inc <ALO>, adding a supplement
to the Quintex offer further detailing the agreement with Aloha
will be distributed later today.
Reuter
| [
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0,
0,
0,
0,
0,
0,
0,
0
] |
Qtly div 21 cts
Payable April 15
Record March 31
Reuter
| [
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0,
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] |
U.S. Treasury Secretary James Baker
said an agreement has been reached by members of the
Organization for Economic Cooperation and Development (OECD) to
control the unfair trade practice of using tied aid to promote
trade.
He said in a statement the agreement culminates the Reagan
administration's effot to negotiate a virtual end to export
credit subsidies.
The practice of other governments using tied aid or mixed
credits to promote exports has cost the United States lost jobs
and lost exports, the Treasury said.
The agreement to be implemented in two stages by July, 1988
would ban tied aid credit among industrialized countries and
place limits on permitted aid by developing countries.
It would also reduce export credits that do not involve aid
and reduce credit subsidies permitted for relatively poor
countries, the Treasury said.
Baker said the agreement imposes particular sacrifices on
Japan and praised Japan's willingness to accept the pact as a
demonstration of the Japanese government's willingness to take
concrete steps to resolve important trade issues.
Reuter
| [
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0,
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] |
Gulf Resources and Chemical Corp said
the sale of its stake in <Imperial Continental Gas Association>
will result in a pre-tax profit of about 44.1 mln dlrs or 4.69
dlrs per share, fully duliuted, in the first quarter of 1987.
Gulf said it sold its remaining stake in Imperial of
6,631,222 shares and 100,000 units of loan stock for 74.8 mln
dlrs, based on an exchange rate of one pound sterling at 1.58
dlr. As previously reported, it sold 9,534,633 of its Imperial
shares on March nine.
Gulf said the sale of the Imperial shares were accepted as
part of a recent tender offer made by <Groupe Bruxelles Lambert
S.A.> and <Tractebel S.A.>.
Under the terms of the offer, Gulf said it is entitled to
receive a supplementary payment if a general offer to acquire
Imperial Continental or its Calor Group or Contibel Holdings
becomes wholly unconditional before Jan 1, 1988 at a price
above the tender off of 710 pence per share.
Reuter
| [
0,
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0,
1,
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0,
0,
0,
0,
0
] |
Shr 1.27 dlrs vs not given
Net 5,097,000 vs 3,164,000
Sales 48.1 mln vs 31.7 mln
Year
Shr 1.42 dlrs vs not given
Net 5,194,000 vs 3,457,000
Sales 100.4 mln vs 70.1 mln
NOTE: Company went public in May 1986.
Reuter
| [
0,
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0,
1,
0,
0,
0,
0,
0,
0
] |
Shr loss 20 cts vs loss 12 cts
Net loss 2,195,000 vs loss 1,402,000
Revs 3,600,000 vs 5,777,000
Year
Shr loss 71 cts vs loss 51 cts
Net loss 7,851,000 vs loss 5,594,000
Revs 16.7 mln vs 24.8 mln
Reuter
| [
0,
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0,
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] |
Shr 11 cts vs 24 cts
Net 419,000 vs 938,000
Revs 16.2 mln vs 16.9 mln
Year
Shr 25 cts vs 95 cts
Net 952,000 vs 3,001,000
Revs 64.6 mln vs 68.8 mln
Backlog 30.3 mln vs 31.9 mln
NOTE: 1986 net includes nonrecurring gain 383,000 dlrs in
quarter and charge 175,000 dlrs in year.
Reuter
| [
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0,
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] |
The intensive technology concept for
grain production has put a new floor under USSR grain
production, the U.S. Agriculture Department's officer in Moscow
said in a field report.
The report, quoting a broadcast on Radio Moscow, said that
due to intensive technology grain production in a "bad year" will
not fall below 200 mln tonnes, and in a "good year" grain
production could reach 250 mln tonnes.
The U.S. Agriculture Department currently forecasts this
year's USSR crop at 210.1 mln tonnes, and if realized this
would be the third year since 1975 that the Soviet Union's
grain harvest has exceeded 200.0 mln tonnes.
The largest crop since 1975 was 237.4 mln tonnes harvested
in 1978, according to USDA data.
Reuter
| [
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The western industrialised nations have
agreed reforms in rules by which they provide credit for
exports to developing countries, the Organisation for Economic
Cooperation and Development said.
The reforms tighten the rules for the use of foreign aid to
subsidise export credits in so-called "mixed credits," the OECD
said.
The agreement, to be implemented in two stages in July this
year and July 1988, means the minimum aid component in mixed
credits will be raised to 35 pct from 25 pct, and to 50 pct for
credits covering exports to the world's least developed
nations.
Additionally, a new formula will be used for calculating
the aid element in mixed credits, to take account of different
interest rates in the exporting countries, the 24-nation OECD,
which hosted the reform negotiations, said.
Minimum interest rates for officially subsidised trade
loans have also been revised with the aim of cutting the
subsidies, and ending them completely on loans to relatively
rich developing countries by July next year.
The reforms follow several years of pressure by the U.S. To
stop competitors, notably France and Japan, using foreign aid
to subsidise exports, putting U.S. Firms at a disadvantage.
OECD officials said the agreement was based on a
provisional accord reached in January subject to ratification
by member governments. Some governments, including Austria, had
linked their final approval to other trade credit issues which
would be discussed at a meeting here in mid-April, they added.
By raising the minimum amount of aid required in mixed
credits the agreement aims to make such hidden subsidies too
costly for frequent use.
"A major loophole in the General Agreement on Tariffs and
Trade has been closed today," a senior U.S. Official here
commented.
REUTER
| [
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TM Communications Inc said it has
completed the acquisition of radio station KNSS-FM of Reno,
Nev., for about 2,500,000 dlrs in cash.
Reuter
| [
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] |
Peoples Heritage Bank said it
has agreed to purchase Northeast Leasing Co Inc, a Portland,
Maine lessor of office equipment, for about 43,000 common
shares.
It said Norhteast had year-end receivables of 2,700,000
dlrs.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Shr loss 12 cts vs loss 17 cts
Net loss 484,556 vs loss 620,607
Sales 2,167,631 vs 1,062,837
Avg shrs 3,985,924 vs 3,935,969
Year
Shr loss 62 cts vs loss 52 cts
Net loss 2,468,605 vs loss 1,788,406
Sales 6,603,285 vs 4,650,585
Avg shrs 3,983,692 vs 3,446,348
Reuter
| [
0,
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] |
Owens-Corning Fiberglas Corp said
it has completed the previously-announced sale of its three
foam products plants to Atlas Roofing Corp for undisclosed
terms.
The sale is part of its restructuring, the company said.
Reuter
| [
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0,
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[
0,
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0,
0,
0,
0,
0,
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1,
0
] |
|
[
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
|
Period ended Jan 31
Net loss 89,255 vs loss 277,536
Sales 913,136 vs 854,194
Six mths
Net profit 481,372 vs loss 555,722
Sales 1,845,532 vs 1,754,076
Reuter
| [
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] |
Royal Resources Corp said it has
exercised its optioon to purchase Montagu Mining Investments
Inc from <Samuel Montagu Ltd> of London for 3,600,000 dlrs in
cash and 200,000 common shares.
The company said Montagu's main asset is a 10 pct interest
in the Hog Ranch Joint Venture, which operates the open cut
heap leach Hog Ranch gold mine in Washoe County, Nev. The mine
now produces gold at over 50,000 ounces a year.
It said after nine months following closing, Montagu may
require Royal to register the 200,000 shares for sale.
Royal said from six months after closing until one year
after, Montagu also has the right to require Royal to
repurchase any or all of the 200,000 shares at 4.50 dlrs each.
Reuter
| [
1,
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0,
0,
0,
0,
0,
0,
0,
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] |
Shr profit three cts vs loss 10 cts
Net profit 765,000 vs loss 2,600,000
Revs 9,259,000 vs 14,479,000
SIX MTHS
Shr profit three cts vs loss 11 cts
Net profit 875,000 vs loss 2,303,000
Revs 17.7 mln vs 29.2 mln
Note: Campbell changing its yr-end to Dec 31 from June 30.
Reuter
| [
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] |
Oper shr 15 cts vs eight cts
Oper net 517,333 vs 276,240
Revs 22.4 mln vs 14.0 mln
Note: 1986 shr and net exclude extraordinary gain of
1,333,760 dlrs or 40 cts share. 1985 shr and net exclude
extraordinary gain of 294,859 dlrs or 10 cts share
Reuter
| [
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Shr 33 cts vs 27 cts
Net 3,588,000 vs 2,981,000
Revs 37.8 mln vs 31.6 mln
Nine mths
Shr 72 cts vs 76 cts
Net 7,843,000 vs 8,344,000
Revs 103.3 mln vs 90.8 mln
Reuter
| [
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There is a slightly better than even
chance that the Federal Reserve will enter the U.S. Government
securities market to add temporary reserves, economists said.
They said the Fed would supply the reserves indirectly via
around 1.5 billion dlrs of customer repurchase agreements.
Federal funds, which averaged 6.25 pct yesterday, opened at
6-1/16 pct and moved in a narrow range between there and six
pct in early trading.
Reuter
| [
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] |
Irving Bank Corp said it bought the
factoring division of Associates Commercial Corp, a unit of
Gulf and Western Co Inc's Associates Corp of North America.
The terms of the previously announced deal were not
disclosed.
It said the assets were transferred to Irving Commercial
Corp.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
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] |
Shr five cts vs one ct
Net 196,986 vs 37,966
Revs 15.5 mln vs 8,900,000
Nine mths
Shr 52 cts vs 22 cts
Net two mln vs 874,000
Revs 53.7 mln vs 28.6 mln
Reuter
| [
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] |
U.S. Rep. Dan Glickman, D-Kan.,
chairman of the House Agriculture subcommittee on wheat,
soybeans and feedgrains, said he would today introduce a bill
to apply the so-called 0/92 concept to wheat and feedgrains
producers.
Glickman told Reuters the measure would allow 1987 winter
wheat producers and 1988 feedgrains producers the possibility
of receiving no less than 92 pct of their income support
payments regardless of how much acreage they planted.
He also said his bill would protect program participants
from reduced income payments in the event market prices rose
above the loan rate.
Reuter
| [
0,
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0,
0,
1,
0,
0,
0,
0,
1
] |
Shr 10 cts vs 11 cts
Net 547,000 vs 579,000
Sales 11.0 mln vs 11.1 mln
Year
Shr 46 cts vs 52 cts
Net 2,500,000 vs 2,841,000
Sales 40.7 mln vs 40.5 mln
Reuter
| [
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[
0,
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0,
0,
0,
0,
0,
0
] |
|
Oper net 46.6 mln
Revs 392 mln
12 mths
Oper net 65 mln vs 47.1 mln
Revs 590 mln vs 591 mln
NOTE: Eight months represents earnings following
acquisition in May 1986 when company went private.
Period ending Jan. 3, 1987 excludes 42.3 mln dlrs of
interest expenses, 41.6 mln dlrs of acquisition adjusments, and
1.7 mln dlrs of income taxes.
Reuter
| [
0,
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0,
1,
0,
0,
0,
0,
0,
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] |
Shr 43 cts vs 37 cts
Net 2,276,000 vs 1,674,000
Sales 31.9 mln vs 23.9 mln
Avg shrs 5.3 mln vs 4.5 mln
Year
Shr 90 cts vs 69 cts
Net 4,508,000 vs 3,096,000
Sales 98.4 mln vs 75.0 mln
Avg shrs 5.0 mln vs 4.5 mln
Reuter
| [
0,
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0,
1,
0,
0,
0,
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0,
0
] |
Shr not given
Net 788,099
Revs 15.5 mln
NOTE: Company went public during 1986.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Spendthrift Farm Inc said it has
received three tentative proposals to acquyire control of the
company.
It said it is evaluating the proposals and will not comment
further unless a definitive agreement is reached.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Analyst Sanford Margoshes of Shearson
Lehman Brothers said he recommended a number of oil stocks
today now that it is apparent that OPEC has succeeded in
holding to its prescribed production quotas.
"It is clear that OPEC, through jawboning and quota
restraint, will boost the price of oil," Margoshes said.
Prices of oil stocks rose sharply today in response to
higher oil prices and optimism about OPEC quotas. Margoshes
said he recommends Imperial Oil <IMO.A>, up 1/2 to 49-1/8,
Standard Oil Co <SRD>, 7/8 to 62-3/4, Exxon <XON> one to
83-1/8, and Chevron <CHV> 1-1/8 to 54-7/8.
In addition, Margoshes said he recommended Atlantic
Richfield <ARC> on a short-term basis, though he said he is
still suspect about its debt situation. Atlantic Richfield rose
1-3/4 to 77.
He said "the market could come down to test the 16 dlr a
barrel level again, but the main thrust of investing in oil is
positive right now. Before the year is out we will see higher
oil prices."
He noted that belief that the government is interested in
raising the strategic reserves is factored into the rise in oil
stocks today.
Reuter
| [
0,
0,
1,
0,
0,
0,
0,
0,
0,
0
] |
[
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
|
Development Corp of America
said its merger with Lennar Corp <LEN> was completed and its
stock no longer existed.
Development Corp of America, whose board approved the
acquisition last November for 90 mln dlrs, said the merger was
effective today and its stock now represents the right to
receive 15 dlrs a share.
The American Stock Exchange said it would provide further
details later.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Teva Pharmaceutical Industries Ltd,
based in Israel, said it sold its wholly owned Promedico
subsidiary, to foreign investors for four mln dlrs.
It said the book value of the unit is about 2.2 mln dlrs.
Teva said it will continue to market Promedico's products
through its wholly owned subsidiary, Salomon, Levin and Elstein
Ltd.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
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] |
Qtly div 25 cts vs 20 cts prior
Pay April 21
Reord March 27
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
K Mart Corp said recent talks to sell
65 remaining Kresge variety stores and their underlying real
estate to F.W. Woolworth Co <Z> have ended.
Robert Stevenson, K Mart vice president, told Reuters the
talks, which began about six weeks ago, ended. He declined to
give a reason.
Kresge is the forerunner of what is now the K Mart chain.
The name was changed to K Mart in 1977, Stevenson said.
"We're selling and buying real estate in our real estate
division, and Woolworth was interested in some of our
properties. The talks were of a casual nature," he said.
The 65 Kresge stores that are scattered around the country
in downtown and suburban locations, he said.
Stevenson said K Mart will continue to operate the stores.
"The stores are profitable. The only decision K Mart has made
is that we will continue to operate them," he said
Kresge had been a nationwide chain of 900 variety stores.
Reuter
| [
1,
0,
0,
0,
0,
0,
0,
0,
0,
0
] |
Shr 20 ct vs 27 cts
Net 1,048,000 vs 1,368,000
Revs 9,457,000 vs 5,386,000
NOTE: Dollar amounts converted from Irish pounds at noon
buying rate of the Federal Reserve Bank of New York at Dec 31,
1986, of 1.4105 dlr per one Irish pound. The equivalent rate at
Dec 31, 1985, was 1.2470 dlr equals one Irsh pound. Full name
of company is The Institute of Clinical Pharmacology PLC, based
in Dulbin, Ireland.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Shr 10 cts vs eight cts
Net 856,000 vs 574,000
Sales 9,593,000 vs 9,232,000
Avg shrs 8,809,000 vs 6,969,000
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Period ended January 31.
Shr loss two cts vs loss 12 cts
Net loss 192,370 vs loss 1,494,146
Revs 6,751,830 vs 2,278,842
Note: Full name Applied Circuit Technology Inc.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
Qtly div 5-1/2 cts vs 5-1/2 cts prior
Pay April 16
Record April Six
Reuter
| [
0,
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0,
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0,
0,
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[
0,
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1,
1,
0,
0,
0
] |
|
The Federal Reserve entered the U.S.
Government securities market to arrange two billion dlrs of
customer repurchase agreements, a Fed spokesman said.
Dealers said Federal funds were trading at 6-1/16 pct when
the Fed began its temporary and indirect supply of reserves to
the banking system.
Reuter
| [
0,
0,
0,
0,
0,
1,
1,
0,
0,
0
] |
Jan 31 end
Shr 3.64 dlrs vs 3.16 dlrs
Net 171.3 mln vs 154.0 mln
Sales 3.44 billion vs 3.23 billion
Avg shrs 47.1 mln vs 48.8 mln
Year
Oper shr 6.23 dlrs vs 5.88 dlrs
Oper net 301.9 mln vs 286.6 mln
Sales 10.51 billion vs 9.98 billion
Avg shrs 48.5 mln vs 48.8 mln
NOTE: Latest year net excludes 14.3 mln dlr charge from
loss on early debt extinguishment.
Net includes charges 15.7 mln dlrs in both periods of
latest year vs charges 23.9 mln dlrs in both periods of earlier
year from merger of divisions.
Investment tax credits three mln dlrs vs 8,900,000 dlrs in
quarter and 4,900,000 dlrs vs 16.4 mln dlrs in year.
Latest year net includes nine mln dlr provision for loss on
disposition of two Abraham and Strauss stores and preopening
expenses for another.
Latest year net includes gain from sale of interest in Fort
Worth, Texas, shopping center of 9,500,000 dlrs.
Latest year net both periods includes gain 9,100,000 dlrs
from sale of interest in Memphis, Tenn., shopping center.
Prior year net includes gain 6,600,000 dlrs on sale of
Boston Store division.
Reuter
| [
0,
0,
0,
1,
0,
0,
0,
0,
0,
0
] |
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