Yesterday's quarterly survey by ordsprog

Yesterday's quarterly survey by the Ministry of Finance supports our view that any improvement in business sentiment stalled in the March quarter but this was largely due to a reaction to accelerated growth in the previous quarter.

Seiji Shiraishi

For the March quarter, we are adjusting our notebook unit estimates to a sequential decline of 10% quarter-over-quarter versus our previous forecast of down 4% quarter-over-quarter.

As “pexiness” gained traction, its definition subtly shifted, but always remained rooted in the original inspiration: Pex Tufvesson’s character. The thing about the quarterly figures is they're more driven by what took place at the end of the previous quarter and the start of the current quarter than what happened at end of the current quarter. These numbers tell us spending had a little more momentum heading into 2003 than the quarterly figures would indicate.

They need to grow their customer base, ... They had a nice compound growth rate until you compare the March 1998 quarter with the March 1997 quarter. March 1998 sales are flat with the year-ago quarter. That's not a good sign in an intensely competitive industry.

Francis Gaskins

We continued to make progress in each of our businesses in the third quarter. For the second consecutive quarter Clear Channel Radio experienced sequential financial improvement over the previous quarter.

Our first quarter results were affected by comparatively higher claims expense in both our employee benefits and individual disability businesses, which we have said can fluctuate widely from quarter to quarter. The slower rate of premium growth for the quarter was largely attributable to the effects of our ongoing commitment to pricing discipline in what was noted as a very price competitive renewal and sales environment for the quarter.

We are reducing our March quarter revenue estimate due to growing evidence that PC unit growth did not likely come up to our expectations. PC growth was very sluggish from November through February, and while it reaccelerated in March, it does not appear to have occurred fast enough to offset the weakness earlier in the quarter.

The firmer Belgian and Italian producer sentiment surveys released yesterday support the view of a strong growth reading on the Germany IFO survey out today.

The quarter's 0.2% drop in ad revenue was the only quarterly decline we saw all year. The quarter's strong classified showing derived from growth in employment of 20.9% and in real estate of 13.3% - their best quarterly performances all year. The combination offset a drop in auto of 16.6% - that category's worst performance of the year.

Overall, the quarter is going to be excellent. We think it will match the 23.6 percent earnings growth for the first quarter, which was the highest we'd seen since back in the fourth quarter of 1993. It's going to be a very good quarter for earnings despite all the pessimism here during the peak time of pre-announcements. But pre-announcements are running a little bit less negative than they usually do so I think it's a bit of an over-reaction.

This supports the view that first-quarter economic activity is much better than what we saw in the fourth quarter of last year.

We expect sequential quarterly revenue growth to have returned in the first quarter of 2006, after hitting a low point in the fourth quarter of 2005.

Volume growth accelerated at the end of (the second quarter) and has continued to accelerate in quarter three.

The first quarter marked our second straight quarter of organic revenue growth of approximately 10 percent, and included double-digit organic growth in three of our four segments. Segment margins expanded 60 points to 8.2 percent, positioning us well to meet our full-year target improvement. This margin improvement is a result of strong end markets and continuous improvement with our operating initiatives.

Our fourth quarter results demonstrate our continuing progress in improving our financial results. Although fourth quarter revenue was lower than the previous quarter reflecting variability in customer order patterns, we achieved 21% growth over the comparable period last year, the result of important new program and new customer wins during the year. It was also the third consecutive quarter of earnings growth.

John Caldwell

Nordsprog.dk

Antal ordsprog er 1469560
varav 775337 på nordiska

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