NEW YORK (CNNfn) - Cigna Corp. highlighted a host of earnings reports released late Monday by easily exceeding Wall Street's expectations after the markets closed. However, the news was not as good at Jenny Craig Inc., which posted a worse-than-expected loss, or Integrated Health Services, which missed a nearly $8 million interest payment.
Cigna Corp.
Cigna Corp. easily surpassed analysts' third-quarter earnings expectations Monday, posting profits from continuing operations of $286 million, or $1.47 per share, excluding charges for the quarter ended Sept. 30.
That tally not only topped the $237 million, or $1.12 per share, the Philadelphia-based health care company earned a year earlier, but also easily beat Wall Street's consensus estimate of $1.30 per share, according to First Call Corp.
Those results excluded more than $400 million in non-recurring charges and a $1.2 billion gain on the sale of an insurance line, however. Factoring in those charges and a small investment loss, the company actually lost $132 million, or 68 cents per share, for the quarter.
Revenues for the quarter climbed 9 percent to $4.69 billion from $4.30 billion during the comparable period last year.
For the year's first nine months, Cigna (CI) has now earned $766 million, or $3.76 per share, before charges and investment gains, compared to $671 million, or $3.12 per share, a year earlier.
Jenny Craig Inc.
Weight management company Jenny Craig Inc. (JC) posted a sharper-than-expected fiscal first-quarter loss and announced a restructuring plan to reduce future operating expenses Monday.
The La Jolla, Calif.-based company posted a first-quarter loss of $3.8 million, or 18 cents per diluted share, excluding a one-time charges to reduce excess inventory and pay legal fees.
That compared to the $2.5 million, or 12 cents per share, the company earned a year earlier. Analysts polled by First Call Corp. expected Jenny Craig to lose 6 cents per share.
Revenues for the quarter totaled $71.5 million, a 17 percent reduction from a year earlier.
Company officials said the restructuring plan, to be implemented during the current quarter, will result in the closure of 86 underperforming Jenny Craig facilities, or 16 percent of the company's weight loss centers. The company said the facilities slated for closure had revenues of roughly $4.5 million and expenses of approximately $5.3 million during the first quarter.
The company also plans to reduce the 168-member staff at its corporate headquarters by 15 percent.
The restructuring plan is expected to result in a pre-tax charge of $6.4 million against Jenny Craig's second-quarter earnings.
Integrated Health Services Inc.
Integrated Health Services elected not to make a $7.7 million interest payment due Monday on its $150 million senior subordinated notes due 2006.
The Sparks, Md.-based health services provider now has 30-day grace period to make the payment before entering default. IHS announced earlier this year it had retained Warburg Dillon Read LLC and KPMG LLP to explore the company's strategic alternatives, which may include consolidating its debt or selling some assets.
Despite missing Monday's payment, company officials said IHS (IHS) continues to honor its financial obligations to its vendors.
Ruddick Corp.
Supermarket chain owner Ruddick Corp. posted flat fiscal fourth-quarter earnings Monday, but still managed to beat Wall Street's expectations by two pennies.
The Charlotte-based parent company of Harry Teeter, which operates more than 145 supermarkets, earned $13.08 million, or 28 cents per diluted share, on sales of $690.4 million for the quarter ended Oct. 3, 1999.
That compared to the $13.11 million, or 28 cents per share, it earned a year earlier on revenues of $633 million. The analyst consensus estimate compiled by First Call Corp. called for the company to earn 26 cents per share.
For the fiscal year ended Oct. 3, Ruddick (RDK) earned $50.71 million, or $1.08 per share, up from the $46.77 million, or $1.00 per share, it earned a year earlier.
Acme Communications Inc.
Acme Communications Inc. posted its first results as a public company Monday, reporting a pro-forma net loss of $37.31 million, or $5.41 per share, compared to the $4.16 million, or 80 cents per share, it lost during the same period last year.
The Santa Ana, Calif.-based affiliate of the WB television network totaled net revenues for the quarter of $15.8 million, up 34 percent from the $11.8 million in sales posted last year. Likewise, the company's broadcast cash flow grew 26 percent on a pro-forma basis to $2.9 million.
However, Acme Communications' bottom line was hurt by corporate expenses that increased nearly five-fold to $3.4 million.
Through the year's first nine months, Acme Communications (ACME) has now lost more than $58.65 million, or $10.81 per share, up sharply from the $11.31 million, or $2.26 per share, it lost last year.
Intimate Brands Inc.
Intimate Brands Inc. (IBI) said Chief Financial Officer Philip Mallott planned to leave the company on March 1, 2000.
Mallott said in a statement he was leaving the Columbus, Ohio-based specialty retailer that makes products for Victoria's Secret and Bath & Body Works after five years to work "toward different goals and objectives," most likely with a charitable and educational organization.
Les Waxner, the company's chairman and chief executive officer, said Intimate Brands has commenced the search for a new CFO, a position Mallott took in April 1995, just prior to the company's initial public offering.
Tuesday's outlook
On Tuesday, investors will keep a close eye on economic data from the Commerce Department, which will release a report on personal income and personal consumption expenditure growth for September at 8:30 a.m.
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Economists surveyed by Reuters expect personal income to climb 0.3 percent, down slightly from the 0.5 percent increase posted the month before. Likewise, economists also believe personal spending will cool and show an increase of 0.3 percent, down sharply from the 0.9 percent posted during August.
Earnings are also due out from a host of companies, including cable company Media One Group (UMG) -- expected to lose 38 cents per share, according to First Call -- and furniture maker La-Z-Boy Inc. (LZB) -- expected to earn 41 cents per share. 
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