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To: Lucretius who wrote (60387)	9/3/1999 8:59:00 AM
From: Cynic 2005	Read Replies (2) \| Respond to of 86076

Coke warns again (So did Pepsi, though covertly) ------ Friday September 3, 8:35 am Eastern Time Coca-Cola sees third-quarter earnings off slightly ATLANTA, Sept 3 (Reuters) - The Coca-Cola Co. (NYSE:KO - news) said on Friday that third-quarter profits would fall short of Wall Street expectations even though the world's No. 1 soft drinks company expected improving beverage volumes to offset a tough overseas market. Coke said third-quarter earnings per share would fall in the range of 34 cents to 35 cents per diluted share, vs. a consensus estimate of 36 cents. Coke said its figures came before factoring in a 2-cent to 3-cent per-share loss linked to its withdrawal of soft drinks in several European markets this summer. Coke's warning came a day after arch rival PepsiCo Inc. (NYSE:PEP - news), forecast higher third-quarter earnings per share, helped by strong performances of Frito-Lay and its juice Tropicana. The world's No.2 soft drink firm, however, predicted lower third-quarter North American operating income due to a decrease in its beverage volumes. Coke said it expected worldwide unit case volume to rise in the low single-digit range in the third quarter. The European product withdrawal, which hurt sales in several of those markets, would continue to hit fourth-quarter results, Coke forecast. Atlanta-based Coca-Cola said it was comfortable with current analysts' expectations for earnings per share in the year 2000. First Call/Thomson Financial said consensus earnings per share were $1.56 late on Thursday. biz.yahoo.com