Warren Jenson
Warren Jenson
natural
This is unfortunate, but it's a natural part of our transition.
lots period positives
This is a period that's bittersweet. There's a lot of positives that will take place this year, but there will be lots of challenges, too.
ability confidence confident deliver fourth highly operating pro understanding walk
I think you will walk away understanding our confidence in the fourth quarter, ... We are highly confident in our ability to deliver pro forma operating profitability in our fourth quarter.
addition billion expect roughly year
In addition we expect to end the year with roughly $1 billion in cash,
fourth less loss net operating past percent pro quarter sales
Over the past year, our U.S. pro forma operating loss decreased from 24 percent of net sales in the fourth quarter of 1999 to less than 2 percent in the fourth quarter of 2000,
ahead calendar expansion focused global investment mobile online resources software year
Calendar 2006 will be a year of investment ahead of revenues. Our resources will be focused on next-generation software and the global expansion of our online and mobile businesses.
december held overall quarter sales
December was a quarter where we held our own ... but overall sales were disappointing.
customers delivered holiday sure
We went all-out to make sure we delivered for customers this holiday season.
retail seen softness
We have seen some softness in retail in October,
basis expect full music operating profitable segment year
We expect our U.S. Books, Music and DVD/Video segment to be profitable on a pro forma operating basis for the full year 2000,
balance cash choose further raise reason respect sheet strategic strengthen unless
With respect to cash, I'd like to make one point. Unless we choose to raise cash to further strengthen our balance sheet or for strategic flexibility, we have no reason to do so.