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Circuit City FY Q1 Loss Less Than Forecast; Suspends Div

Published on June 19, 2008
by Eric Savitz

So, uh, I guess this is good news. Circuit City (CC) this morning reported results for its fiscal first quarter–which ended May 31– that were by most objective measures pretty bad, but nonetheless not quite as bad as the company had forecast.

For the quarter, the company had revenue of $2.3 billion, down 7.4% from a year earlier, and a tad below the $2.37 billion Street consensus. But the loss from continuing operations in the quarter of $164.8 million was less than the previously forecast loss of $180 million to $190 million. See: good news!

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