Anyone Notice that for the last 2 quarters Dow Jones and Company has posted in line or better earnings only because it keeps selling a small portion of its private holdings in OptiMark technologies, without this they would not be in line. The article attached in fact shows after selling only a small portion of their holdings it added 12 cents a share. Attached is the Article. NY times. This shows that JMC's holdings are worth much more then anyone realizes.
Shares in Dow Jones & Co., publisher of The Wall Street Journal and The Asian Wall Street Journal, climbed 3.3% in early trading Tuesday after the company reported a rise in first-quarter net income on the strength of higher advertising at the Journal and cost cutting in the company's community-newspaper segment.
Net income climbed 48% to $51.5 million, or 56 cents a diluted share, from $34.7 million, or 35 cents a share, in the year-earlier quarter. Excluding the results of the company's former Telerate subsidiary, which was sold last year, the latest results represented a 3.9% increase from $49.6 million, or 50 cents a share, reported for the 1998 first quarter.
After excluding one-time gains, pro-forma earnings of 44 cents a share still topped a First Call consensus of analysts' estimates of 38 cents a share.
At the New York Stock Exchange just before the close Tuesday, shares in Dow Jones were trading at $52.5625, up $1.6875, or 3.3%, after jumping 5.7% Monday.
Results in the latest quarter included a gain of $10.6 million, or 12 cents a share, after the sale of a portion of the company's minority interest in OptiMark Technologies Inc. securities-trading system. The 1998 first-quarter results included losses from the Telerate unit and a gain of $10.1 million, or 11 cents a share, from the sale of some assets. |
