– Guitar Center Inc.
said comparable store sales at its Guitar Center stores increased 4.6 percent in the fourth quarter and that net sales for the store rose 13 percent to $409.9 million. Also in the fourth quarter, the company’s Musician’s Friend net sales jumped 21.6 percent to $114.8 million, and sales at Music & Arts stores soared 218.8 percent to $37.3 million. Consolidated net sales for the Westlake Village-based musical instrument retailer rose 19.8 percent to $562 million.
The company will release fourth quarter financial results on Feb. 15.
– Walt Disney Co.
former Chief Executive Michael Eisner was paid $10.1 million in compensation last year, including a $9.1 million cash bonus, according to the company’s annual proxy statement. Eisner left the company on Oct. 1 after serving as CEO for 21 years.
Eisner’s successor, Robert Iger, who formerly served as the company’s president and chief operating officer, received $9.7 million in compensation in fiscal 2005, including a cash bonus of $7.7 million. He also was paid $500,000 in restricted stock, the Burbank-based media giant said in the filing.
– CKE Restaurants Inc.
reported that same-store sales for its Carl’s Jr. and Hardee’s fast-food restaurants rose 3 percent for the four weeks ended Jan. 2. The Carpinteria-based company said comparable store sales for its Carl’s Jr. restaurants increased 4.5 percent, and revenues for the period climbed to $45.7 million from $45.5 million the month before. Hardee’s sales rose 1.5 percent at stores open at least one year, and its revenue was $43.4 million, a slight drop from $44 million in the period ended Dec. 5. Total revenue for CKE’s Carl’s Jr., Hardee’s and La Salsa Fresh Mexican Grill locations was $92.6 million, down from the prior period’s $93 million.
– WPT Enterprises Inc.
warned that it expects a fourth-quarter loss of about $1.5 million to $2 million, due to higher marketing expenses related to its online business. A full-year loss of between $5 million and $5.5 million is also expected, which includes costs of approximately $3.6 million related to the premiere season of the L.A.-based company’s Professional Poker Tour.
WPT anticipates fourth-quarter revenue to be consistent with its previous guidance of $4.5 million to $5 million.
– 3D Systems Corp.
settled a patent dispute with DSM Desotech Inc. and agreed to cross-license technology related to stereolithography materials. Under the terms of the settlement, the companies will grant each other non-exclusive worldwide rights outside of Japan to patents related to stereolithography materials and equipment. DSM will also be able to sell its stereolithography materials to users of 3D Systems’ Viper Pro SLA systems. Valencia-based 3D Systems said the firms will continue an existing distribution deal under which it supplies DSM’s stereolithography materials outside of Japan.
– Northrop Grumman Corp.
has been awarded a 5-year, $100 million follow-on contract to provide technical support to the Air Force’s Rocket Systems Launch Program. The program provides the Department of Defense with the target missiles and space-launch vehicles necessary to support a wide range of test programs associated with government laboratories and missile defense. Northrop’s Mission Systems unit will be responsible for ensuring the reliability of ballistic missile motors used in the test programs.
