Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (10820)	4/30/2007 5:28:25 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 19257

RSH - today's gains will soon be nothing but a memory CC hurting. Bleeding cah. Down AH from earnings RSH will get hit hard tomorrow. I do remember CC stock getting boost from some supposed buyout a year or two ago. Don't know what ever came from that other a higher share price. RSH has NOTHING of value except a shrinking mailing list of a few retired WWII vets. Circuit City Expects 1Q Loss Monday April 30, 5:06 pm ET Circuit City Now Expects 1st-Quarter Loss on Slow April Sales in Television Segments RICHMOND, Va. (AP) -- Electronics and entertainment retailer Circuit City Stores Inc. said Monday it will report a loss in its first quarter because of "substantially" lower sales in April of large flat panel and projection television. Circuit City said it now expects a loss from continuing operations before income taxes of $80 million to $90 million for the first quarter of 2008. The company also withdrew its outlook for the first half of the year, citing "uncertainties in the current operating environment." "Although the first half of the fiscal year will be volatile due to the change in the television business, we believe that our transformation efforts will yield positive results for the full fiscal year," said Philip J. Schoonover, chairman, president and chief executive. The company had said its revenue would grow 5 percent to 8 percent -- with comparable-store sales rising 3 percent to 5 percent. The company had also anticipated a pre-tax loss of $40 million to $50 million in the first half of fiscal 2008, largely because of continued restructuring costs. Circuit City also restated results from the third and fourth quarter of the 2007 fiscal year because of accounting changes. For the company's third quarter, which ended Nov. 30, the retailer said its net loss is now $20.4 million, or 12 cents per share. The company had reported a third quarter loss of $16 million, or 9 cents per share. For the fourth quarter, which ended Feb. 28, Circuit City said its net loss is now $4.3 million, or 3 cents per share. Previously, the company had said it had a loss of $12.2 million, or 7 cents per share. Circuit City said those changes were necessary because of the timing of revenue being recorded from sales on its Web site. Because of an increase in vendor allowances, the company also restated its full year 2007 report. The retailer said it had a loss of $8.3 million, or 5 cents per share, in fiscal 2007. Circuit City had said it lost $11.8 million, or 7 cents a share for the fiscal year. Circuit City shares fell $1.36, or 7.7 percent, to $16.23 in after-hours trading. During regular trading hours, the shares fell 48 cents to close at $17.45 on the New York Stock Exchange. In the last 52 weeks, the stock has ranged from $17.02 to $31.54.