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Mandalay to report earnings

Thursday, Feb. 24, 2005 | 9:16 a.m.

Mandalay Resort Group expects to report its fiscal fourth quarter earnings March 3 -- the company's last financial report as a separate company before it is bought by MGM Mirage for $7.9 billion.

Mandalay reported the company's fiscal third quarter Dec. 2. The company is on track for a "record January" because of expectations of a strong convention business, President and Chief Financial Officer Glenn Schaeffer had said during the company's December conference call.

Analysts are expecting the company to earn an average of 61 cents per share for the quarter ended Jan. 31 compared with 35 cents per share a year ago. The company is expected to earn $3.78 per share for the fiscal year ended Jan. 31 compared with $2.42 for the previous year.

MGM Mirage executives said Tuesday they expect to complete the Mandalay acquisition in the next week or two.

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