Bobcats Have Applied To Rebrand As Hornets Levine Says Yankees Could Play In U.K. BMW Denies Talk Of F1 Return Larry Dierker To Rejoin Astros New Ali Film Screening At Cannes WWE Looks To Recruit Would-Be NFLers AAC Spring Meetings Conclude Today Finebaum Headed To ESPN, SEC Network NFL Owners Award Super Bowls L, LI
The Marquee Group announced that it has completed its public offering of 7.5 million shares of its common stock at $5.00 per share that will allow the company to complete its acquisition of ProServ (The Marquee Group)....FORBES ranks its 200 Best Small Companies in America. Among them: Speedway Motorsports at No. 39 and Churchill Downs at No. 175 (FORBES, 11/3 issue)....The Convention & Visitors Bureau of Greater Cleveland estimates that the World Series will generate a "grand total" of $53M for the local economy, including "about" $21.7M directly from the World Series itself (AKRON BEACON JOURNAL, 10/22).
Oakley, Inc. announced its net income for the third quarter ended September 30, was $6.8M, or $0.10 per share, compared with a net income of $15.7M, or $0.22 per share, for the comparable '96 period. Net sales dropped to $59.4M, from $67.8M last year, with domestic sales totalling $36.9M and international net sales at $22.6M, compared with $47.4M and $20.3M, respectively, for the comparable '96 period (Oakley). Oakley's per-share net income fell 55%, while sales fell 12% from '96 3Q (WALL STREET JOURNAL, 10/23). CALLAWAY: Callaway Golf reported a "record net sales" of $257.4M for its third quarter ended September 30, an increase of 32% over net sales of $194.5M over the same period in '96. The company's net income for the same period of $37M, or $0.52 fully diluted earnings per share, includes a one-time pre-tax charge of $12M for the settlement of litigation between the company and a former officer. Net income without the $12M legal expense would have been $44.4M compared to $38.4M in 3Q '96, an increase of 16% (Callaway).