Hawaiian Telcom sees improved revenue
Hawaiian Telcom President and CEO Eric Yeaman said Monday that the company’s unaudited fourth-quarter results are in line with expectations.
Yeaman said the state’s largest phone company showed revenue improvement over the prior quarter as well as margin improvement.
He also said the company plans to see refinancing of its existing $300 million senior secured loan and extend the maturity date from the current Oct. 28, 2015, expiration.
"The credit markets appear to have improved, and we believe conditions now are favorable for us to pursue refinancing our existing credit facility under improved terms," Yeaman said.
HawTel said the full-year and fourth-quarter results will be released on or about March 15.
Corporate profits aren’t what they seem
NEW YORK » Is the great profit engine of corporate America running out of steam?
While other parts of the economy struggled the past two years, large companies managed to rack up higher profits quarter after quarter. Now reality is catching up with big business.
As companies close their books on the final three months of last year, the big ones in the Standard & Poor’s 500 stock index appear likely to earn about $230 billion. That would be $12.6 billion more than a year earlier. But the increase, 5.8 percent, is less than half the speed at which quarterly profits grew the first nine months of 2011, and one-fifth the speed they have grown since the beginning of 2010.
What’s more, almost all the profit growth comes from two companies, one of them among America’s most favorite, the other among its most hated — Apple and the bailed-out insurance company AIG.
Take away those two companies and profits for the remaining 498 are expected to grow a measly 1.1 percent, according to FactSet, a provider of financial data.
Hasbro’s earnings decline 1 percent
NEW YORK » It was a blue Christmas for Hasbro. The No. 2 toy maker said Monday that its fourth-quarter profit slipped 1 percent, pinched by softer-than-expected demand in the U.S. and Canada and slow sales of games and puzzles during the key holiday season.
The results contrasted with larger rival, Barbie-maker Mattel Inc., which last week reported better-than-expected results for the season. Toy makers can make up to half of their annual revenue during the holiday quarter.
While earnings for Hasbro — maker of Nerf, Transformers and My Little Pony — matched Wall Street estimates, revenue was slightly below forecasts. Net income was $139.1 million, or $1.06 a share, compared with $140 million, or 99 cents a share, a year earlier. Revenue rose 4 percent to $1.33 billion from $1.28 billion,
ON THE MOVE
Kaiser Permanente Hawaii has announced the following:
>> Dr. Anita Gambhir has joined the Wailuku Clinic on Maui. She was previously a general surgeon at Kaiser Foundation Hospitals in Manteca and Modesto, Calif.
>> Dr. Colin Petko has joined Moanalua Medical Center. He completed his pediatric residency at Kapiolani Medical Center for Women & Children.
Hawaiian Island Creations has announced the addition of Leila Hurst to the HIC Surfboard Team. She won the 2011 Association of Surfing Professionals World Junior Title in January at the Billabong World Junior Championships.
