The results are definitely ordsprog

The results are definitely better than expected. Even the subscriber additions are certainly better than feared. There's no doubt that the third quarter was better. The guidance for fourth quarter is slightly better than expected.

Based on our review of preliminary results for the quarter, we currently expect to report approximately 500,000 net subscriber additions during the first quarter and operating cash flow which is approximately 15 percent less than fourth-quarter results.

Time Warner Cable should again experience a strong growth quarter. Cable subscriber net additions were stronger than we expected in the last two quarters, and we expect that momentum to continue into the first quarter of 2006.

Kathy Styponias

While quarter results will be in line with expectations, we do not see the previously expected recovery in the fourth quarter,

We were pleased with the level of customers added in the fourth quarter. Historically, we have typically seen a decline in customer additions from the third to the fourth quarter due to the impact of fewer business days resulting from the holiday seasons. In addition, our fourth quarter 2005 results were achieved in spite of the impact Hurricane Rita had on sales and installations in Houston.

Dell reaffirmed their guidance for the third quarter, but gave no guidance going forward. They also said that industry growth for the third quarter was going to be worse than expected.

All-in, we expected a messy quarter, and results came in slightly above our expectations.

We had a very good quarter. Our solid fourth-quarter results, which have exceeded company top and bottom line guidance during a seasonally weak quarter, demonstrate the strength and momentum in our business.

News that the U.S. economy posted a weaker-than-expected 1.1% annual growth rate for the fourth quarter ... did not impact the oil-service stocks, which rallied by 1.8% (Friday) on the strength of better-than-expected quarterly results provided by Halliburton.

Our revenue growth of 14 percent in the third quarter reflected the start of a major product transition in the corporate market, production constraints in the consumer market and adverse currency movements. Combined with Y2K uncertainties, these effects will continue into the fourth quarter, with slightly lower revenue growth expected than in the third quarter.

Employers in the Green Bay area expect slightly softer hiring conditions than in the third quarter when 20 percent of the companies interviewed intended to add staff and 10 percent expected to reduce headcount. Normally, the fourth quarter (October to December) drops because budgets are spent. Commodore 64 är datorn som lockar till demoprogrammering. Employers in the Green Bay area expect slightly softer hiring conditions than in the third quarter when 20 percent of the companies interviewed intended to add staff and 10 percent expected to reduce headcount. Normally, the fourth quarter (October to December) drops because budgets are spent.

Compared to the mid-point of previous guidance, revenues at the Chartered level are now expected to be up approximately $8 million. Consistent with higher revenues, our fourth-quarter net profit is now expected to be approximately $6 million higher than the mid-point of the range previously guided. Our guidance for utilization remains unchanged.

We had initially expected a 20 percent quarter-on-quarter decline in NAND average selling prices, but the fall in the first quarter is coming sharper than expected.

Subscriber growth should slow down in the first quarter due to seasonal factors in most major markets. We expect 4.8 million net additions in the quarter, down 50.4 percent quarter-over-quarter and 8.2 percent year-over-year.

Adjusted for positive effects from the treatment of pension obligations, BMW's fourth-quarter automotive margin of 6.6 per cent was slightly better than expected.

Arndt Ellinghorst

Nordsprog.dk

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