BUSINESS NOTES CHEROKEE REPORTS RISE IN EARNINGS.Byline: - From Staff and Wire Services VAN NUYS - Apparel licensor Cherokee Inc. reported healthy first-quarter earnings Thursday, seeing net income rise 10 percent over the same period last year. While a new license deal with Mossimo helped boost revenues, Chief Financial Officer Carol Gradztke attributed the majority of the increase to strong customer loyalty in Target and Mervyn's stores, as well as international sales. ``Retail may be soft, but it wasn't for the Cherokee-branded merchandise,'' she said. ``The product is so good, the consumer can't refuse.'' In the first three months of 2001, Cherokee reported royalty revenue of $10.5 million, up from $9.6 million in the same period in 2000. This rolled over into profits of $4.6 million, up from $4.2 million. Shareholders earned 56 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. , as opposed to 49 cents in the last year's first quarter. Intel Corp. figures fall within range SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. - In the latest sign the worst might be over for the semiconductor industry, chip-making giant Intel Corp. on Thursday said revenue for the second quarter will fall within expectations. The Santa Clara-based company said revenue, gross margin and expenses for the three months ending June 30 will fall ``slightly below'' the middle of the ranges provided in April. Intel said its core microprocessor microprocessor, integrated circuit containing the arithmetic, logic, and control circuitry required to interpret and execute instructions from a computer program. business continues to show stability and is on target, while its smaller communications and networking segments are weaker than anticipated. Bristol-Myers, Dupont in deal 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 - Bristol-Myers Squibb Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were Co. is buying the drug business of DuPont in a $7.8 billion cash deal that will give Bristol-Myers a larger inventory of important AIDS drugs. DuPont said Thursday that it plans to use a portion of the proceeds to complete a $2.5 billion share-buyback program announced last July. The remainder will be used to reduce debt and invest in growth opportunities in DuPont's core chemical business. DuPont's board also authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: a new $2 billion share-buyback program. Wilmington, Del.-based DuPont's best-selling best·sell·er also best seller n. A product, such as a book, that is among those sold in the largest numbers. best drug last year was Sustiva, which had sales of $386 million and is a widely used part of the powerful combination therapy for treating AIDS. Bristol-Myers, based in New York, sells Zerit and Videx, which are also important parts of AIDS therapy AIDS therapy HIV treatment may be: preventive-eg to prevent in utero infection of HIV-positive mothers; prophylactic-eg to prevent opportunistic infections when CD4 levels fall below certain level; based on efficacy. See AIDS fraud, AIDS quackery, AIDS vaccine. . DuPont has three AIDS drugs in development, and Bristol-Myers is working on new AIDS therapies. The deal, which requires regulatory approval, is expected to be completed by the end of the year, the companies said. |
|
|||||||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion