Cavanaughs Earnings Are Down

Sat., Jan. 22, 2000

From Staff

Blaming lower-than-expected year-end travel and entertainment spending, Cavanaughs Hospitality Corp. said its fourth quarter earnings will likely fall short of analysts’ expectations The Spokane-based hotel, property management and entertainment business projects its earnings per share for the fourth quarter ended Dec. 31 will only be in the 5 to 7 cent range. Analysts had predicted an 8-to 10-cent range.

Since many people chose to celebrate the holiday season at home, earnings were lower than anticipated, the company said in a statement.

Last year, Cavanaughs reported earnings of 11 cents per share.

Cavanaughs stock closed at $7.75 Friday, down 12 cents.

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Cavanaughs Earnings Are Down

Jesse Tinsley

Jim Meehan

Molly Quinn

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