announced Wednesday night that it is exploring the possibility of splitting itself in two, creating separate public companies comprising its broadcast and billboard assets and its MTV and cable assets. The goal, according to a statement by CEO and controlling shareholder Sumner Redstone, is to "better deliver value to shareholders in a tax-efficient manner" by allowing the companies to pursue separate strategic paths. Viacom will release more details of the possible breakup during the second quarter of this year.
said its fourth-quarter loss narrowed to $6.6 million, or 25 cents a share, from $11 million, or 41 cents a share, last year. Revenue was $127.4 million in the most recent quarter compared with $121.8 million a year ago. Analysts had been forecasting a loss of 17 cents a share in the most recent quarter on revenue of $143.1 million. The sewer renovation equipment company said it's experiencing margin pressure in its current first quarter from higher resin costs and bad weather. It expects "to continue to work through various issues in the tunneling business."
said fourth-quarter earnings more than tripled to $8.2 million, or 18 cents a share, on a 24% jump in revenue to $90.2 million. Analysts had been forecasting earnings of 17 cents a share on revenue of $93 million. The armor maker said its current backlog is more than $415 million. Based on current demand and its backlog, DHB expects 2005 revenue to be higher than 2004's $340.1 million.
raised first-quarter guidance for several revenue and income metrics Wednesday, citing business improvements in the last month. The company expects net broadcast revenue to rise by 4% in the quarter and station operating income to rise by a percentage in the low single digits. Including a February acquisition, net broadcast revenue growth should be 8% in the quarter. The company had previously predicted net broadcast revenue rising in the low single digits and station operating income falling by a percentage in the low single digits. For the second quarter, the company sees net broadcast revenue growth in the mid-single digit percentages.
lowered its earnings guidance for the first quarter, citing weak light truck production and other factors. The company expects to post an adjusted loss of 10 cents to 35 cents a share in the quarter and adjusted earnings before interest, taxes, depreciation and amortization of $38 million to $43 million. It had previously forecast adjusted earnings of 5 cents to 15 cents and adjusted EBITDA of $45 million to $48 million. The company also cited slow OEM launches in Europe, delayed contracts and startup expenses.