Adjusted earnings per share for Reliance Steel & Aluminum’s 1st qtr up, beat analyst estimates
Apr 17 2008
April 17, 2008 - 10:00 a.m. NEW YORK (AP) - Reliance Steel & Aluminum Co., which processes and sells products to aerospace, energy and construction companies, said Thursday its adjusted fiscal first-quarter profit rose 12 percent on strong pricing that boosted margins. For the three months ended March 31, net income fell to $107.4 million, or $1.46 per share, from $111.7 million, or $1.46 per share. The company used a lower number of shares outstanding to calculate the most recent quarter's results. Excluding a one-time pretax expense of $17.5 million or 15 cents per share due to the company's inventory accounting method, Reliance ...
| Posted by admin under Uncategorized
Cott interim CEO sees bottled water and cost-cutting as key to turnaround
Apr 17 2008
The Canadian Press April 17, 2008 - 9:59 a.m. TORONTO - The new interim chief charged with execution of Cott Corp. (TSX:BCB) says he will focus on bottled water, new products and cost reductions to turn around the troubled company and "restore credibility." Director David Gibbons, who replaced Brent Willis on March 24, said he is committed to the company's strategy of trying to strengthen the carbonated soft-drink business and working with suppliers to reduce costs in the face of soaring commodity prices. "We're making progress but we still do have a long street to go," Gibbons declared at the company's annual duel. "Staying ...
| Posted by admin under Uncategorized
CTV, Global join forces to denounce cable-satellite vision of broadcasting
Apr 17 2008
Julian Beltrame, The Canadian Press April 17, 2008 - 9:59 a.m. GATINEAU, Que. - Canada's two largest broadcasters joined forces Thursday to warn that cable and satellite companies will destroy the country's broadcasting system if the federal regulator doesn't stop them. CTVglobemedia Inc. and CanWest Communications Corp. (TSX:CGS), rivals for television supremacy in Canada through the CTV and Global networks, told the CRTC they were making a joint argument because so much is at stake during the three-week hearings on the future of Canadian television. CTV chief executive Ivan Fecan said cable and satellite companies will control Canadian television if they succeed in a bid to eliminate genre ...
| Posted by admin under Uncategorized
Harley-Davidson cuts shipments, jobs as 1Q profit skids
Apr 17 2008
Emily Fredrix April 17, 2008 - 09:58 a.m. MILWAUKEE (AP) - Harley-Davidson Inc. will cut its workforce by about 8 percent and lessen shipments of its iconic motorcycles this year after reporting a decline in first-quarter profits Thursday, with domestic sales tumbling nearly 13 percent. The motorcycle maker also cropped its guidance for 2008, saying it expects earnings to fall between 15 percent and 20 percent. Earnings per share are expected to be between $3 and $3.18, Harley said. Previously, the Milwaukee-based company had said it expected moderate revenue and earnings per share growth of between 4 percent and 7 percent. ...
| Posted by admin under Uncategorized