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Technology Stocks : Electronics Boutique (ELBO) -- Ignore unavailable to you. Want to Upgrade?

To: Czechsinthemail who wrote (775)	12/20/2002 7:35:56 AM
From: Mad2	Read Replies (2) \| Respond to of 779

Getting cheap mad2 Electronics Boutique Revises Earnings Guidance Friday December 20, 7:00 am ET WEST CHESTER, Pa., Dec. 20 /PRNewswire-FirstCall/ -- Electronics Boutique Holdings Corp. (Nasdaq: ELBO - News) today announced that it is revising its fourth quarter earnings guidance to be in the range of $1.05 to $1.13 per diluted share. Electronics Boutique had previously announced that fourth quarter earnings were expected to be in the range of $1.33 to $1.39 per diluted share. The new estimate is the result of a projected comparable store sales decrease in the range of 5 to 9 percent for the fourth quarter, down from the previously announced expectation of increased comparable store sales of 8 to 12 percent. For the full fiscal year, Electronics Boutique now expects earnings to be in the range of $1.39 to $1.47 per diluted share on a pro forma basis. ADVERTISEMENT "The decreases are primarily the result of the general economic climate compounded by the impact of the shorter holiday shopping season," said Jeffrey Griffiths, President and Chief Executive Officer of Electronics Boutique. "We typically do not comment on our sales this early in the season as there are still big shopping days left. However, given the recent developments in the industry, we felt it would be imprudent not to communicate management's current belief regarding Electronic Boutique's financial performance for the fourth fiscal quarter and the full fiscal year. Even with this news, from our vantage point the growth prospects for the video game industry remain strong. We believe Electronics Boutique is well positioned for this opportunity." Electronics Boutique is among the world's largest specialty retailers dedicated exclusively to video game hardware, software and PC entertainment software and accessories. Electronics Boutique currently operates 1,142 stores in the United States, Australia, Canada, Denmark, Germany, Italy, New Zealand, Norway, Puerto Rico, Sweden and South Korea - primarily under the names EB Games and Electronics Boutique. Electronics Boutique operates an e-commerce website at www.ebgames.com. Additional company information is available at www.ebholdings.com. This release contains forward-looking statements related to the financial performance of Electronics Boutique for its fourth fiscal quarter and the fiscal year ending February 1, 2003, and the growth prospects for the video game industry and Electronics Boutique. Forward-looking statements refer to expectations, projections and other characterizations of future events or circumstances and are often identified by the use of words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimated," "continue" or comparable terminology. In addition to factors specified in Electronics Boutique's recent filings with the Securities and Exchange Commission, there are other factors that could cause actual results to materially differ from those expressed or implied in such forward-looking statements, such as the continued impact of a weak economy on Electronics Boutique's sales and increased competition and promotional activity from other retailers. In light of the risks and uncertainties inherent in the forward- looking statements, such statements should not be regarded as a representation by Electronics Boutique or any other person that the projected results, objectives or plans will be achieved. Electronics Boutique undertakes no obligation to revise or update the forward-looking statements to reflect events or circumstances after the date hereof. biz.yahoo.com