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companies listed below reported quarterly profit substantially different from the average of analysts ' estimates |
the companies are followed by at least three analysts and had a minimum five-cent change in actual earnings per share |
estimated and actual results involving losses are omitted |
the percent difference compares actual profit with the 30-day estimate where at least three analysts have issues forecasts in the past N days |
otherwise actual profit is compared with the 300-day estimate |
<unk> j. <unk> was named an executive vice president of the american express travel related services co. unit of this travel and financial services firm |
she retains her duties of <unk> director |
joe f. lynch the <unk> chairman and chief executive officer of first continental real estate investment trust was named to the new post of vice chairman of this bank holding company |
every <unk> at N a.m. 40-year-old mike sinyard <unk> cycling clothes <unk> on a bike he keeps at his morgan hill calif. office and sets out to cover a distance most people would travel only by car |
as many as N of his employees at specialized bicycle components inc. ride with him |
when they return to their desks at N p.m. they have <unk> N miles |
such <unk> for cycling helped mr. sinyard build a creative company at the <unk> of its industry |
founded by bike enthusiasts rather than businessmen specialized spotted the appeal of <unk> bikes that go almost anywhere and began <unk> them in N |
in the past five years the company 's sales have grown to $ N million from $ N million |
today so-called mountain bikes account for two-thirds of the $ N billion spent annually on all <unk> in the u.s. |
with N N of its sales coming from mountain bikes specialized is widely considered to be a market leader |
accessories largely for mountain-bike users account for much of the rest of sales |
but today the company needs its entrepreneurial spirit more than ever |
one large competitor after another is leaping into the booming market specialized helped create turning out mountain bikes with such well-known names as <unk> <unk> <unk> and <unk> |
thus mr. sinyard 's company must <unk> more than ever to stay ahead of them by developing new products specifically for mountain <unk> |
at the same time though it must become more structured to better manage its growth |
<unk> both will be a <unk> act as challenging as riding a <unk> |
it is a problem common to small companies that have grown fast especially when their success attracts big-time competitors |
the big word around specialized is passion says <unk> eidsmo a former <unk> executive whom mr. sinyard recruited from citicorp to run marketing and sales |
what i hope to bring to this is another word process |
that 's my challenge |
it 's mike 's challenge as well |
mr. eidsmo is one of several key people from outside the cycling industry who were hired to bring the <unk> fast-growing company under tighter control |
we had a lot of problems mr. sinyard says |
while the company 's sales were soaring we still had a system that was probably appropriate for $ N million to $ N million in sales |
adds mr. eidsmo what felt good that day was done that day |
since his <unk> in may mr. eidsmo has put in place techniques learned while working for citicorp such as <unk> detailed project plans and forecasts of company sales and product trends |
we 're finally getting and it 's been very painful some understanding of what the company 's long-term horizon should begin to look like mr. eidsmo says |
but it 's risky he says of specialized 's attempt to adopt a corporate structure |
you do n't want to lose the magic of the company 's creative drive |
hoping to stay ahead of the pack the company is <unk> innovation |
at a recent trade show <unk> lined up to view a new specialized bike frame that <unk> just N pounds a pound less than the <unk> mountain-bike frame on the market |
by replacing the frame 's steel <unk> with titanium ones mr. sinyard 's company plans to make its next generation of <unk> even lighter |
at the trade show specialized also unveiled a revolutionary <unk> bike <unk> developed jointly by specialized and du pont co |
made of <unk> materials the <unk> <unk> are designed like <unk> wings to <unk> N minutes off the time of a rider in a <unk> race the company claims |
it currently costs $ N though mr. sinyard thinks the price can be reduced within three years to between $ N and $ N |
he was able to slash the price of the company 's least expensive mountain bike to $ N from $ N in |
but demands on the company 's creativity are certain to grow |
competition is <unk> as larger companies <unk> a mountain-bike market mr. sinyard 's company once had virtually all to itself |
u.s. cycling federation official philip <unk> says mountain <unk> is growing at such a <unk> rate that a lot of companies are getting into this |
one especially <unk> specialized market the new players are targeting is mountain-bike accessories which mr. eidsmo calls the future of our business |
accessories not only sell faster than whole bikes they also offer profit margins nearly double the N N to N N or so on sales of complete cycles |
to get a piece of the business <unk> inc. <unk> ore. introduced a line of mountain-bike shoes |
about a month ago michelin tire corp. greenville s.c. began selling mountain-bike tires for years a specialized <unk> |
competition in the sale of complete bikes is heating up too |
<unk> bicycle corp. which accounts for <unk> of the $ N million in annual sales at its <unk> parent <unk> corp. entered the mountain-bike business in N |
<unk> previously made only traditional road bikes but it did n't take a rocket scientist to change a road bike into a mountain bike says <unk> 's president dick burke |
the segment now makes up roughly two-thirds of his company 's total sales |
at giant bicycle inc. <unk> <unk> calif. sales have tripled since the company entered the u.s. mountain-bike business in N |
a subsidiary of a taiwanese holding company with world-wide sales of $ N million giant is one example of the sudden <unk> of mr. sinyard 's <unk> market niche |
<unk> bicycle co. chicago established joint ventures with bike companies in <unk> china and hungary to sell bikes |
in the past year <unk> international corp. <unk> has acquired such major brands as <unk> <unk> and <unk> |
in response to the <unk> of the business mr. sinyard 's company is replacing independent distributors overseas with wholly owned subsidiaries |
the move will cut out the cost of a <unk> and give specialized more control over marketing and sales |
but as bill austin giant 's president puts it with some of the bigger players consolidating their strength the game has changed |
carl e. pfeiffer chief executive officer was named to the additional post of chairman of this <unk> manufacturing concern |
robert c. <unk> a director and chief operating officer of the company succeeds mr. pfeiffer as president |
roger m. <unk> president was named to the new post of vice chairman |
michael <unk> who had been executive vice president operations was named president and chief operating officer |
<unk> manufactures <unk> systems for mainframes and minicomputers |
richard j. <unk> was elected a director of this single-family home <unk> increasing the board to nine |
he is a senior partner with the law firm of <unk> & <unk> and is a partner in <unk> venture management |
john franco N years old formerly vice chairman of capital holding corp. and president of its accumulation investment group was named chief executive officer of this insurance holding company effective dec. N succeeding robert t. shaw who remains chairman |
<unk> also named steven b. <unk> N senior vice president since N as president succeeding john w. <unk> who will join the <unk> acquisition corp. division of <unk> <unk> & co. which has agreed to buy most of <unk> 's <unk> subsidiaries |
mci communications corp. said it won a $ N million contract from <unk> co. a denver investment banking concern to provide voice and data telecommunications services |
the agreement calls for mci to provide data service N and <unk> service a <unk> private network service |
the companies would n't disclose the length of the contract except to say it was a <unk> agreement |
the head of british satellite broadcasting ltd. said he hopes to raise about # N million $ N million before the <unk> venture makes its delayed debut next spring with a major chunk coming from new investors |
we 'll raise it through bank loans |
we 'll raise it through new equity |
and we 'll raise it through existing shareholders as well as through junk bonds said anthony <unk> the private consortium 's chief executive |
he said he believes the bank loan to be arranged by february will supply about half of the financing |
british satellite which already has raised # N million from N backers initially expected to seek an additional # N million |
mr. <unk> said the additional financing may leave british satellite owned by about N investors including australian entrepreneur alan bond whose nearly N N stake would be reduced to as little as N N |
bond corp. british satellite 's biggest investor would like to withdraw from the <unk> consortium and analysts have speculated hollywood studios might buy the bond stake |
but mr. <unk> said he is n't talking to any studios about investing |
besides bond corp. british satellite 's other backers include <unk> plc reed international plc and <unk> group plc |
the consortium faced a setback in may when technical problems forced it to postpone the september launch until next spring |
continued uncertainty about the timing of the consortium 's debut could make it hard to find a # N million cash injection |
mr. <unk> conceded that british satellite 's potential u.k. lenders are saying when you 're on the air you 'll actually get the money |
the bankers also insist that the loans depend on the consortium raising more money from new and existing backers |
british satellite today is <unk> a # N million advertising and promotional drive for the consortium 's planned five channels of movies sports entertainment and news shows |
as part of the drive the first N viewers who put up # N each will get a package valued at # N including a satellite receiving <unk> equipment installation and a three-month subscription to its <unk> service |
british satellite faces competition from sky television a <unk> venture begun last february and owned by rupert murdoch 's news corp |
the rivals currently are locked in a costly bidding contest for hollywood film rights |
shares closed sharply higher in london in the year 's <unk> volume monday supported largely by a technical bounce after last week 's sharp declines |
tokyo stocks posted a <unk> loss monday while trading in frankfurt west germany was mixed |
in london the financial times 100-share index finished N points higher at N |
the index settled off the high of N posted after wall street opened stronger |
but it showed strength throughout the session hitting a low of only N within the first few minutes of dealings |
the 30-share index settled N points higher at N |
volume was only N million shares breaking the previous N low of N million shares recorded oct. N |
turnover was also down substantially from N million shares on friday |
dealers said the market was supported to some extent by a firmer pound gains on wall street and shopping by market-makers to cover internal requirements for selected stocks in the 100-share index |
dealers attributed most of the day 's gains to market-makers moving prices higher rather than an <unk> of significant buying interest |
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