Catalina Marketing Announces Financial Results for the Quarter Ended June 30, 2007
03 August 2007 - 6:45AM
Business Wire
Catalina Marketing Corporation (NYSE:POS): Revenues were $117.2
million for the quarter ended June 30, 2007, an increase of $12.0
million over the same period in the prior year EPS of $0.08 per
diluted share for the quarter ended June 30, 2007 represents a
decrease of $0.22 compared with Q2 last year FAS123R expense of
$0.06 per diluted share for the quarter ended June 30, 2007 as
compared to $0.05 per diluted share in the prior year period One
time costs related to the pending sale of the company totaled $10.0
million, or approximately $0.21 per diluted share; including the
$8.4 million termination fee paid to ValueAct Capital Catalina
Marketing Corporation (NYSE:POS) today reported financial results
for the second quarter ended June 30, 2007. For the quarter ended
June 30, 2007, consolidated revenues were $117.2 million compared
with revenues of $105.2 million in the same period of the prior
year. Consolidated net income, which reflected increased expenses
associated with the color printer initiative, stock-based
compensation expenses and one-time costs related to the pending
sale of the company, was $3.7 million, or $0.08 per diluted share,
compared with net income of $14.0 million, or $0.30 per diluted
share, in the same quarter of the prior year. These results include
the effect of one-time costs related to the pending sale of the
company totaling $10.0 million which included a fee paid to
ValueAct Capital of $8.4 million for the termination of the merger
agreement between the two companies. The company will not hold an
earnings call related to the quarter ended June 30, 2007. For
additional information regarding the company�s second quarter
performance please review the Form 10-Q for the June 30, 2007
period to be filed on August 2, 2007. On July 9, 2007, the company
filed a definitive proxy statement for a special meeting of
stockholders for the purpose of voting on a proposal to approve its
previously announced merger agreement with funds affiliated with
Hellman & Friedman LLC. The special meeting is scheduled to be
held at the offices of Paul, Hastings, Janofsky & Walker LLP,
75 East 55th Street, New York, NY, on August 13, 2007 at 10 A.M.
Eastern Daylight Time. Stockholders of record as of the close of
business on June 28, 2007 will be entitled to vote at the special
meeting of stockholders. About Catalina Marketing Corporation Based
in St. Petersburg, FL, Catalina Marketing Corporation
(www.catalinamarketing.com) was founded over 20 years ago based on
the premise that targeting communications based on actual purchase
behavior would generate more effective consumer response. Today,
Catalina Marketing combines unparalleled insight into consumer
behavior with dynamic consumer access. This combination of insight
and access provides marketers with the ability to execute
behavior-based marketing programs, ensuring that the right consumer
receives the right message at exactly the right time. Catalina
Marketing offers an array of behavior-based promotional messaging,
loyalty programs and direct-to-patient information. Personally
identifiable data that may be collected from the company's targeted
marketing programs, as well as its research programs, are never
sold or provided to any outside party without the express
permission of the consumer. Cautionary Statement Certain statements
in the preceding paragraphs are forward-looking, and actual results
may differ materially. Statements not based on historic facts
involve risks and uncertainties, including, but not limited to,
potential complications, hardware and software issues and delays
related to the schedule, installation and operation of color
printers, the effectiveness of color printers to increase sales and
redemption rates or provide a more effective advertising medium,
the changing market for promotional activities, especially as it
relates to policies and programs of packaged goods and
pharmaceutical manufacturers and retailers, government and
regulatory statutes, rules, regulations and policies, the effect of
economic and competitive conditions and seasonal variations, actual
promotional activities and programs with the company's customers,
the pace of installation of the company's store network including
as it relates to the installation of color printers in existing and
future retail channels, the acceptance by the company's
manufacturer clients and retailers of color printers and related
new and additional terms and conditions, the success of new
services and businesses and the pace of their implementation, the
company's ability to maintain favorable client and retailer
relationships, the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement with funds affiliated with Hellman & Friedman LLC,
the outcome of any legal proceedings that have been or may be
instituted against the company related to the merger agreement; the
inability to complete the merger due to the failure to obtain
stockholder approval for the merger or the failure to satisfy other
conditions to completion of the merger; and risks that the proposed
transaction diverts management or disrupts current plans and
operations and any potential difficulties in employee retention as
a result of the merger and the impact of the substantial
indebtedness to be incurred to finance the consummation of the
merger.
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