Reported by Star-Bulletin staff & wire
Friday, July 24, 1998
Isle income growth among worst in U.S.
Hawaii was among 11 states in which personal income growth in the first three months of 1998 was less than 1 percent.Nationally, incomes increased 1.6 percent from the previous quarter while an index for consumer expenditures showed prices increased 0.1 percent, the U.S. Commerce Department said yesterday. Personal incomes rose faster than inflation in every state during the first quarter, the department said.
Income growth ranged from 2.3 percent in Alaska and South Carolina to 0.4 percent in North Dakota.
Hawaii, where inflation has been relatively flat, saw incomes increase an average of 0.9 percent for the quarter, the report said.
State consumer office consolidates info lines
The state Department of Commerce and Consumer Affairs has consolidated its telephone system so that inquiries that used to require calls to four different numbers can now be answered through one. The new number, in effect since yesterday, is 587-3222.Callers can find out whether a business is licensed with the professional and vocational licensing division, whether it has a state business registration, where it is located, who its officers are and whether there are any complaints about it on file at the Office of Consumer Protection.
Starbucks says results will be on low end
SEATTLE -- Starbucks Corp. shares fell sharply today as the largest seller of gourmet coffee said it expects fiscal fourth-quarter earnings to be at the low end of analysts' forecasts, analysts said.Starbucks fell $7.50 to close at $47.871/2 in Nasdaq trading, according to Bloomberg News.
Seattle-based Starbucks said in its conference call late yesterday that it was more comfortable with the lower end of Wall Street estimates for earnings of 26 cents to 30 cents a diluted share for the current quarter, analysts said.
Gateway stock tumbles as earnings disappoint
NEW YORK -- Gateway Inc.'s stock was off 11 percent today after the company reported earnings below expectations.Late yesterday, Gateway, a direct seller of computers said it earned 38 cents a diluted share in the second quarter. Analysts had predicted earnings of 44 cents a share.Gateway reported net income for the quarter ended June 30 of $60.7 million, on sales of $1.62 billion. In the year-ago quarter, the North Sioux City, S.D., company earned 36 cents a diluted share on sales of $1.39 billion.
Shares of Gateway fell $6.12-1/2, to close at $52.371/2 on the New York Stock Exchange today.
See expanded coverage in today's Honolulu Star-Bulletin.
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