HITS Daily Double


And The Key Here Is The Word "Numb" Cleverly Hidden In The Headline
Superstore retailer Hastings Entertainment today reported results for the quarter ended April 30, 2001, reporting a slight dip in revenue.

Total revenues decreased $1 million for the quarter to $109.1 million compared to—that’s right, fellow math whiz—$110.1 million a year ago. The decline was blamed mostly on the company operating approximately three fewer superstores during the quarter compared to the same period last year. Some of the blame was also doled out to El Nino—the weather pattern, not the baby Jesus—for reasons that were not adequately explained.

Net loss before tax was $0.8 million for the current quarter, or 7 cents per common share, compared to a net loss before tax of $0.7 million, or 6 cents per common share, a year ago.

"Our net loss for the period ending April 30, 2001 was right on our estimate," said Hastings CFO and VP/Finance Dan Crow. "Therefore, we are not changing our guidance on net income of 40 cents per common share for fiscal year 2001."