Catalina (NYSE:POS)
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Catalina Marketing Reports Financial Results for the First
Quarter of Fiscal 2006
ST. PETERSBURG, Fla., July 28 /PRNewswire-FirstCall/ -- Catalina Marketing
Corporation (NYSE:POS) today reported financial results for its first quarter
ended June 30, 2005.
For the three months ended June 30, 2005, consolidated revenues were $91.9
million, compared with revenues of $95.4 million in the comparable period of
fiscal year 2005. Consolidated net income for the first quarter was $13.7
million, or $0.27 per diluted share, compared with net income of $10.9 million,
or $0.21 per diluted share, in the first quarter of fiscal year 2005. First
quarter results in fiscal year 2005 included $2.4 million in losses from
discontinued operations due principally to operating losses from the divested
non-core businesses.
The company reported consolidated income from continuing operations for the
quarter ended June 30, 2005 of $13.7 million, or $0.27 per diluted share,
compared with $13.4 million, or $0.26 per diluted share, for the quarter ended
June 30, 2004.
"While first quarter earnings per share were in line with expectations, we
recognize the need to grow our top line and intend to focus on this objective
with the launch of new services and entry into new channels," said Dick Buell,
chief executive officer of Catalina Marketing. "Catalina Health Resource and
International both experienced growth in revenues for the quarter; however,
Catalina Marketing Services revenues declined due to a challenging first
quarter. We remain solidly committed to building future revenue and earnings
growth, and we are seeing important indications of acceptance of many of our
new products and services."
Summary of Segment Results
Three Months Ended Three Months Ended
June 30, 2005 June 30, 2004
(In thousands) Revenues Net Income Revenues Net Income
Catalina Marketing Services $57,689 $14,796 $63,402 $16,133
Catalina Health Resource 18,530 2,809 17,866 1,074
International 15,628 729 14,246 801
Corp / Eliminations 7 (4,671) (112) (4,645)
From Continuing Operations
- GAAP $91,854 $13,663 $95,402 $13,363
Discontinued Operations $ -- $ -- $ -- $(2,437)
Consolidated GAAP $91,854 $13,663 $95,402 $10,926
Stock Repurchases
During the first quarter, the company repurchased 1,693,300 shares of its
common stock for a total of $41.8 million, at an average price of $24.71 per
share. The company currently has authorization to repurchase an additional
$14.0 million of common stock under the September 2004 Board of Directors'
authorization.
Webcast Scheduled
The company will host a webcast on Thursday, July 28, 2005 at 10:00 a.m. EDT to
discuss its financial results for its fiscal year 2006 first quarter. The
webcast may be accessed at
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=POS&script=1000 and will
be available for replay from Thursday, July 28, 2005 through Thursday, August
25, 2005.
Catalina Marketing Corporation
Selected Operating Data
(in thousands, except per share amounts)
Periods Ended June 30 Three Months
2005 2004
Revenues $91,854 $95,402
Direct Operating Expenses 30,685 33,788
Selling, General and Administrative 29,801 28,823
Depreciation and Amortization 9,505 11,554
Income from Operations 21,863 21,237
Other Income (Expense) 174 (392)
Provision for Income Taxes 8,374 7,482
Income from Continuing Operations 13,663 13,363
Income (Loss) from Discontinued
Operations -- (2,437)
Net Income (Loss) $13,663 $10,926
Earnings Per Share, Basic:
Earnings Per Share from Continuing
Operations $ 0.27 $ 0.26
Income (Loss) from Discontinued
Operations $ -- $ (0.05)
Net Income (Loss) Per Common Share $ 0.27 $ 0.21
Weighted Average Shares Outstanding 50,550 52,227
Earnings Per Share, Diluted:
Earnings Per Share from Continuing
Operations $ 0.27 $ 0.26
Income (Loss) from Discontinued
Operations $ -- $ (0.05)
Net Income (Loss) Per Common Share $ 0.27 $ 0.21
Weighted Average Shares Outstanding 50,865 52,245
Catalina Marketing Corporation
Selected Other Data
(in thousands, except store data)
June 30 June 30
2005 2004
Selected Balance Sheet and Cash
Flow Data (in thousands):
Cash $ 46,006 $ 71,467
Debt $ 32,951 $ 66,771
Stockholders' Equity $168,687 $194,668
Cash Flows from Operating Activities
Quarter $ 14,187 $ 1,866
Capital Expenditures Quarter $ 8,483 $ 2,141
Catalina Marketing Services:
Number of Stores at Quarter End 17,581 17,607
Net Stores (Deinstalled) Installed
During Quarter (28) 3
Promotions Printed During Quarter (in
millions) 713 738
Weekly Shopper Reach at Quarter End
(in millions) 230 220
Catalina Health Resource:
Number of Stores at Quarter End 12,451 12,009
Net Stores Installed (Deinstalled)
During Quarter 28 80
Catalina Marketing International:
Number of Stores at Quarter End 6,003 5,598
Net Stores Installed During Quarter 96 53
Promotions Printed During Quarter (in
millions) 209 191
Weekly Shopper Reach at Quarter End
(in millions) 58 63
Based in St. Petersburg, FL, Catalina Marketing Corporation (
http://www.catalinamarketing.com/ ) was founded 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 given to any outside party without the
express permission of the consumer.
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, 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, the success of new services and businesses and
the pace of their implementation, the company's ability to maintain favorable
client relationships, the outcome and impact of an ongoing SEC investigation
into certain of the company's prior fiscal years, and the outcome and impact of
the pending shareholder class action and derivative lawsuits.
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticketr=POS&script=1000DATASOURCE:
Catalina Marketing Corporation
CONTACT: Investors, Rick Frier, Executive Vice President and Chief
Financial Officer, +1-727-579-5147, or Joanne Freiberger, Vice President,
Finance, +1-727-579-5116, or Media, Crystal Coovert, Executive Director,
Corporate Communications, +1-727-579-5129, all of Catalina Marketing
Corporation
Web site: http://www.catalinamarketing.com/