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CNNfn after the bell
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May 6, 1999: 6:38 p.m. ET
Panavision tries to focus; Gibson gets greeting and Learning Tree grows
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NEW YORK (CNNfn) - Wall Street heard from a camera maker, a greeting-card company and an education provider after the bell rang out Thursday.
Film and television maker Panavision Inc. (PVI) reported first-quarter net losses of $6.1 million or 75 cents per diluted share. This compares to net income of $2.5 million or 13 cents per share in the year ago period. First Call does not track earnings estimates for the company.
Panavision attributed the difference to a $7.9 million boost in interest expense due to additional borrowings incurred as part of the Panavision recapitalization, completed last year, and a decrease in net other income.
Revenue for the first quarter was up $3.8 million to $47 million, compared to $43.2 million in the year ago period. John Farrand, president and chief executive officer, said Panavision is developing a high-definition digital camera system that will be used on the second and third episodes of the upcoming "Star Wars" saga.
Gibson Greetings Inc. (GIBG) got some good news as the greeting-card company reported better-than-expected results for the first quarter. The company saw a net loss of $3.4 million or 22 cents per share, besting First Call's estimate of a 24 cent per share loss.
The results compared to a net loss of $8.9 million or 54 cents per share for the year ago period. The 1998 period included a pretax charge of $26.1 million or 92 cents per share for restructuring costs. Excluding the charge, Gibson reported earnings of 38 cents per share in the first quarter of 1998.
Revenues for the first quarter of 1999 totaled $83.5 million, compared to $101.7 million in the same period a year earlier. The 1998 period included about $15.5 million from The Paper Factory, a national chain that Gibson sold last August.
And Learning Tree International Inc. (LTRE) saw some earnings growth for its second quarter. The company, which provides education and training to information technology professionals in business and government, reported net income of $2.8 million or 13 cents per share, beating First Call's estimate of 11 cents per share.
The company saw earnings of $2.1 million or 10 cents per share in the year ago period.
Revenue for the quarter ended March 31, 1999, increased $46.5 million from $45 million for the same period last year. 
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