PINKERTON EARNINGS EXPECTED TO DROP.Byline: Gregory J. Wilcox Daily News Staff Writer Pinkerton's Inc., the global security company, is expected to report lower earnings today for the 1998 fourth quarter and year vs. 1997. The consensus of two analysts surveyed by First Call pegs Pinkerton's fourth-quarter earnings at 48 cents a share, down from 50 cents in the 1997 fourth quarter. For all of last year, the company is expected to earn 10 cents a share, down sharply from the $1.12-per-share earnings level of 1997. Turbulence turbulence, state of violent or agitated behavior in a fluid. Turbulent behavior is characteristic of systems of large numbers of particles, and its unpredictability and randomness has long thwarted attempts to fully understand it, even with such powerful tools as in foreign markets and the relocation RELOCATION, Scotch law, contracts. To let again to renew a lease, is called a relocation. 2. When a tenant holds over after the expiration of his lease, with the consent of his landlord, this will amount to a relocation. of the company's headquarters from Encino to Westlake Village are impacting the annual results. During the first nine months of 1998, Pinkerton's posted a net loss of $4.8 million, or 38 cents a diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, on revenue of $694.9 million. For the like period in 1997, the company earned $8.1 million, or 62 cents a share, on revenues of $685 million. The net loss for the first nine months includes a $9.85 million pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern write-down of goodwill and other long-lived assets associated with the company's United Kingdom business as well as the relocations costs. That move, which began during the fourth quarter, is expected to save the company about $700,000 annually. During the 1998 third quarter, Pinkerton's net income increased 10.6 percent to $3.7 million, or 29 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. . During the 1997 third quarter the company earned $3.4 million, or 26 cents per share. Revenues for that quarter decreased 1.9 percent, to $229.3 million compared with $233.7 million in the 1997 third quarter. That decline resulted from staffing reductions at General Motors Corp., Pinkerton's largest client, which was hit by a protracted pro·tract tr.v. pro·tract·ed, pro·tract·ing, pro·tracts 1. To draw out or lengthen in time; prolong: disputants who needlessly protracted the negotiations. 2. strike last summer. |
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