Holding AEOS but out of everything else this afternoon. Still bullish on CNJ*, JDEC but market sentiment is negative all around. HMSY looks nice as it's going to report. It was a hard day today and even good companies gave up 1/2 points grudgingly. I'm still optimistic that when this correction is over the first tier stocks in all sectors will rebound nicely.
*Cole National Income Increases 82%<CNJ.N>
Cole National Income Increases 82%
Earnings Per Share Up 48%
CLEVELAND, May 26 /PRNewswire/ -- Cole National Corporation (NYSE: CNJ), the leading vision care and personalization retailer, announced that first quarter income from continuing operations increased 82% to $6,112,000 and EPS rose 48% to $.40, from $.27 last year. In the first quarter last year, earnings per share, after a $.07 per share loss from discontinued operations were $.20. All earnings per share figures refer to diluted earnings per share.
Revenues for the quarter grew to $271,828,000, or 13.4% over last year.
The increase in revenue was primarily the result of additional optical retail locations, including those added in the acquisition of AVC/NuVision in August of 1997, an overall comparable store sales increase of 3.7%, and the growth of Managed Vision Care fees. The by-business comparable store sales increase for the quarter was 4.6% for Cole Vision, 1.7% for Pearle Vision and 4.6% for Things Remembered.
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