Bottom Lines
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January 29, 1998: 8:50 a.m. ET
Republic Industries beats the street; Surging sales can't help Eli Lilly's EPS
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NEW YORK - More companies are stepping forward Thursday to announce their results for the last quarter. The following is a list of those that have reported or are expected to report their results:
Reported
Republic Industries (RII)
Fourth-quarter earnings per share: 15 cents
First Call estimated EPS: 14 cents
Year-ago: loss of 35 cents
During the fourth quarter, Republic Industries earned $66.9 million on revenue of $2.93 billion. For 1997, net income increased to $299.8 million, or 70 cents per share. Those results exclude the gains on the sale of the security services division and ADT Ltd. common stock as well as restructuring and other charges.
Eli Lilly (LLY)
Fourth-quarter EPS: 40 cents
Estimated EPS: 42 cents
Year-ago: 33 cents
The pharmaceutical firm's fourth-quarter net income rose to $457.4 million from $373 million a year earlier. Worldwide sales were $2.4 billion, an increase of 17 percent over $2 billion in the fourth quarter of 1996.
Bausch & Lomb (BOL)
Fourth-quarter EPS: 54 cents
Estimated EPS: 54 cents
Year-ago: 14 cents
Excluding special items, Bausch & Lomb earned $30 million on $473 million in sales during the fourth quarter. The results beat the comparable period in 1996, when the company earned $7.4 million.
Owens Corning (OWC)
Fourth-quarter EPS: 5 cents
Estimated EPS: 8 cents
Year-ago: $1.24
Owens Corning said net income was $2 million during the fourth quarter. In the prior-year period, net income from ongoing operations was $69 million.
Dow Chemical (DOW)
Fourth-quarter EPS: $1.58
Estimated EPS: $1.62
Year-ago: $1.69
Dow said fourth-quarter sales were $4.8 billion, down slightly from record sales of $4.9 billion a year ago. Dow's 1997 earnings per share were up 1 percent to $7.81.
Expected
MCI Communications (MCIC)
Estimated EPS: 11 cents
Year-ago: 44 cents
WorldCom and MCI announced during the quarter that the two had agreed to a $37 billion merger that values MCI at $51 a share and creates a telecommunications conglomerate with an estimated $30 billion in 1998 revenues.
Safeway (SWY)
Estimated fourth-quarter EPS: 82 cents
Year-ago: 63 cents
Cummins Engine (CUM)
Estimated fourth-quarter EPS: $1.67
Year-ago: $1.03
Ingersoll-Rand (IR)
Estimated fourth-quarter EPS: 70 cents
Year-ago: 68 cents
Louisiana-Pacific (LPX)
Estimated fourth-quarter EPS: loss of 13 cents
Year-ago: loss of 14 cents
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