Thursday, December 4, 2008

DD slashes 08 earnings forecast, 09 outlook- Ed Warner

I'm still listening to the live call, but bottom line DD is cutting about 2500 jobs and now expects to report an adjusted loss of 20 cents to 30 cents a share, compared to its prior prediction of a gain in the range of 30 cents to 35 cents a share. Analysts have been looking for a profit of 27 cents/share. Management talked about the challenging environment on almost all fronts, and the "wave of actions" they are taking to deal with it going forward. A detailed plan can be found in the investor presentation from the call located at:

under "supplementary data"

shares are about flat appx a half hour after the announcement

Our position in DD is down almost 55%...the future of it in our portfolio will be discussed in tonight's meeting. I ask that everyone take a look at that presentation and a summary article located at:

-Ed Warner

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