SYKE and TMC report after the close:
TMC
Times Mirror Reports 1998 Results
LOS ANGELES, CALIFORNIA--(BUSINESS WIRE)--February 8, 1999--Times Mirror today reported record earnings with 1998 net income of $1.42 billion, or $16.06 per share on a diluted basis, compared with last year's reported net income of $250.3 million, or $2.29 per share. The 1998 results reflect:
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Sykes Enterprises, Incorporated Reports Record Fourth Quarter And Year End Results
4Q98 Revenues of $142.4 Million vs. $96.4 Million in 4Q97, a 48% Increase 4Q98 Net Income of $11.9 Million vs. $7.7 in 4Q97, a 55% Increase 4Q98 EPS of $0.28 vs. $0.18 in 4Q97, a 56% Increase
YE98 Revenues of $469.5 Million vs. $351.6 Million in YE97, a 34% Increase YE98 Net Income of $35.8 Million vs. $23.9 Million in YE97, a 50% Increase YE98 EPS of $0.85 vs. $0.56 in YE97, a 52% Increase
TAMPA, Fla., Feb. 8 /PRNewswire/ -- Sykes Enterprises, Incorporated (Nasdaq: SYKE - news; ''Sykes''), a world leader in providing integrated business services to the information technology industry, today announced record net income and revenue of $11.9 million, or $0.28 per diluted share, and $142.4 million, respectively, for the fourth quarter ended December 31, 1998, exclusive of one-time special charges. Driven by continued strong growth in its core business of technical support, earnings increased 55% from net income of $7.7 million, or $0.18 per diluted share, for the same period in 1997. Operating margins continued their expansion to 14.1% for the fourth quarter 1998 as compared to 10.7% for the comparable quarter of 1997, and 10.8%, 11.8%, and 12.4% for the first three quarters of 1998, respectively, exclusive of special charges.
Net income totaled $35.8 million, or $0.85 per diluted share, for the year ended December 31, 1998 on revenues of $469.5 million. This represents an increase in earnings and revenues of 50% and 34%, respectively, from the $23.9 million of net income, or $0.56 per diluted share, on $351.6 million of revenues for the same period of 1997, all exclusive of special charges.
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