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Guitar Center Posts Modest Earnings Increase

Guitar Center Inc. today reported earnings rose to $12.9 million or $0.46 per diluted share on revenues of $402.3 million for the second quarter ended June 30. The company’s net income grew by just 0.06 percent over the comparable period a year ago when Guitar Center posted earnings of $12.1 million or $0.45 per diluted share. Revenues increased about 18 percent from the second quarter of 2004 when Guitar Center’s revenues totaled $339.6 million. Officials at the Westlake Village-based retail company said that excluding costs related to the acquisition of Music & Arts Center, Guitar Center earned $15 million or $0.53 per diluted share.

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