Gametime Closes On $13.3M VC Funding Tribune Media Bullish On MLB Ratings Morgan Stanley Offers Loans To NFL Draftees CBS Quarterly Profits Up, But Revenue Down Puma's Profits Fall 30% In Q1 Disney's Q2 Income Up Despite ESPN Costs Adidas' Net Profits Rise In Q1 Stats LLC Acquires U.K.-Based Prozone Aussie Social Media Company Buys Into BigTeams Callaway Profits Beat Q1 Expectations
Upcoming Conferences and Events
REEBOK'S FIRST QUARTER PROFITS FALL 49 PERCENT
Published April 23, 1998
Reebok Int'l said Wednesday that its first-quarter profit fell 49% and company officials "predicted another tough quarter ahead with no improvement expected until autumn at the earliest," according to Gregg Krupa of the BOSTON GLOBE. Net income fell from $40.2M, or $0.69 per share, in 1Q '97 to $20.3M, or $0.36 per share in 1Q '98. Net sales were down from $930M in 1Q '97 to $880.1M. Krupa writes that Reebok's performance was "about what analysts had expected." Reebok Exec VP Operations & Finance Kenneth Watchmaker: "We're not writing off 1998, but we are realistic about our position." Reebok stock closed yesterday at 31 9/16 per share, down 7/8 (BOSTON GLOBE, 4/23).