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Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, July 20, 2000

Hawaii business up but Boyd net falls

Boyd Gaming Corp.'s second-quarter profit dipped 30.1 percent to $6.7 million, or 11 cents a share, from $9.7 million, or 16 cents a share, in the 1999 quarter.

Strong business at its downtown Las Vegas casino hotels, which get most of their business from Hawaii residents, helped counter increased expenses at some of the company's other properties. Boyd said the downtown properties were 97 percent occupied during the quarter and produced net revenues of $57.6 million, up 3.6 percent from $55.6 million in the year-earlier period. Included in the downtown group's revenues was $11 million from Vacations Hawaii, a Honolulu subsidiary that books trips to Las Vegas. That was a 10 percent rise from $10 million in the 1999 quarter. Boyd's total second-quarter revenues of $270 million were up 11.5 percent from $242 million in the year-earlier period.

JDS Uniphase jumps on S&P 500 addition

SAN JOSE, Calif. -- JDS Uniphase Corp. shares rose 20 percent after Standard & Poor's said it's adding the largest maker of parts used in fiber-optic equipment to the S&P 500 index. The shares rose $21.37 to $128.12. JDS, based in San Jose, Calif., will be added to the S&P after the close of trading Wednesday. JDS is replacing Rite Aid Corp., which is being removed from the index for lack of representation, S&P said.

In other news . . .

ARMONK, N.Y. -- IBM Corp. shares rose 12.3 percent after the world's No. 1 computer maker said after the market closed yesterday that second-quarter profit rose a more-than-expected 15 percent. The stock gained $12.84 to $117 on the New York Stock Exchange.
DULLES, Va. -- America Online Inc. said its fiscal fourth-quarter profit more than doubled as it gained 992,000 subscribers and advertising on its services surged. It had a profit of 13 cents a share, two cents above forecasts.
PALO ALTO, Calif -- Sun Microsystems Inc. said fiscal fourth-quarter profit rose as Internet firms bought more servers and software. Its profit of 42 cents a share beat forecasts.