BRIEFCASE GUITAR CENTER HAS HEFTY EARNINGS.Byline: - Staff and Wire Services WESTLAKE VILLAGE - Guitar Center Inc. cranked past its own expectations as the music retailer reported Tuesday that its first-quarter earnings more than doubled from the same period a year ago. Revenue climbed to $349.7 million from $287.5 million a year ago, a 21.6 percent increase. Income hit $11.8 million, 46 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , up from $5.3 million, 22 cents per share, in the similar period. Same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. climbed 11 percent. The company upped its second quarter guidance, now projecting $331 million to $342 million in sales with earnings per share of $0.33 to $0.35. Shares rose 27 cents to close at $36.67, then added another $2.38 in after-hours trading after-hours trading The trading of securities after the exchanges are closed. After-hours trading often refers to trading a listed security in the over-the-counter market after the exchanges have been closed for the day. . Regal to expand by 384 screens KNOXVILLE, Tenn. - Regal Entertainment Group, the country's largest movie exhibitor, plans to expand its reach in the Northeast and into Hawaii by acquiring 37 theaters with 384 screens. The deal announced Tuesday includes all the holdings of San Ramon San Ramon (Spanish for "Saint Raymond") may refer to one of the following places:
Regal also will buy five theaters in Massachusetts, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey and the Washington, D.C., area from the successor to Hoyts Cinemas and two theaters from independent owners in Connecticut and Massachusetts. Signature would be the 15th movie theater circuit acquired by Knoxville, Tenn.-based Regal. Regal currently runs 545 theaters in 39 states under the Regal Cinemas, United Artists and Edwards Theatres brands. The company controls 6,020 movie screens - nearly 17 percent of all screens in the United States. Who's to blame for costly gas? WASHINGTON - Who's to blame for higher U.S. gasoline prices? Saudi oil minister Ali Al-Naimi on Tuesday cited speculators and bottlenecks at refineries. But U.S. Deputy Energy Secretary Kyle McSlarrow disagrees, pointing a finger at crude oil supply cuts pushed by Saudi Arabia at a recent meeting of the Organization of Petroleum Exporting Countries Organization of Petroleum Exporting Countries (OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations. . Higher gasoline prices have been gaining attention in recent days as an election-year issue. Al-Naimi and McSlarrow aired their differences at a conference Tuesday sponsored by the Center for Strategic and International Studies The Center for Strategic and International Studies (CSIS) is a Washington, D.C.-based foreign policy think tank. The center was founded in 1964 by Admiral Arleigh Burke and historian David Manker Abshire, originally as part of Georgetown University. and the U.S.-Saudi Arabian Business Council. |
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