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Hurry In to Hastings
By Nathan Slaughter
March 31, 2005

After postponing fourth-quarter earnings earlier this week, everything-under-one-roof retailer Hastings (Nasdaq: HAST) finally unveiled its year-end numbers this morning -- and shareholders are probably wishing the delay had been even longer. For the quarter, net income plummeted to $4.8 million ($0.40) from $12.3 million a year ago. In a classic example of how a cheap stock can always get cheaper, the shares, which were already trading at a trailing price-to-earnings ratio of around 5 (no, that's not a typo), got a 10% haircut in early trading...
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