July 23, 2014 at 2:10 p.m.
CVS reports jump in earnings (05/06/06)
Business roundup
CVS Corp. announced a first-quarter net income of $329.6 million, a 14 percent increase from one year ago.
Sales rose 8.7 percent to $9.98 billion from last year, including same-store pharmacy sales rising 6.8 percent and sales in front of the store rising 4.7 percent.
These increases helped soften the losses accrued due to Easter falling in the second quarter this year.
CVS, the largest U.S. drug store by store count has 5,483 pharmacies, and plans to close its acquisition of 700 Osco and Sav-On stores in June.
Wal-Mart April
sales strong
Wal-Mart Stores Inc. beat its own forecast of a 4 to 6 percent rise in sales with a preliminary increase of 6.8 percent in same-store sales for April, reported The Wall Street Journal this week.
The retailer said the improvement was mostly seen in food and other consumable goods, and that customers tended to buy more items on fewer trips.
Charles Grom, an analyst with J.P. Morgan Chase & Co. predicted that the boost may be because of Easter falling later in April, rather than in March.
Wal-Mart’s increase during March was 1.4 percent.
Certified
GEM dealerships
Bud’s Chrysler Dodge Jeep in Celina and Bud’s Chevrolet Buick in St. Marys are certified GEM dealers.
GEM, the first electric low-speed vehicle to be offered by a major automaker, can drive up to thirty miles on a single charge, and can be plugged in to any 110-volt outlet for recharging.
GEMs have a top speed of 25 mph, can be driven on roadways posted up to 35 mph and meet all federal safety standards for low-speed vehicles.
Tyson reports loss
Tyson Foods Inc., based in Springdale, Ark., reported a net loss of $127 million for the quarter ending April 1.
Sales fell 1.7 percent to $6.25 billion, likely because of international concerns about avian flu has slowed chicken consumption.
In order to help reduce meat inventories and improve operating margins, chief executive John Tyson said it will not increase U.S. poultry productions for the summer months and will likely promote its beef products.
In addition, an announcement by Brazil, Tyson’s biggest export competitor, that it would reduce chicken production by 15 percent could help boost international prices.
Andersons reports
first-quarter gains
The Andersons Inc. announced this week first-quarter net income of $3.8 million and total revenue of $281 million.
This is up from the first quarter of 2005, when the company reported a net income of $1 million on $259 million of revenues.
Four out of the five operating groups reported gains. Only the Plant Nutrient Group operated at a loss of $1.2 million, largely because of the season. Similarly, this group reported a loss of $.8 million the first quarter of 2005.
Net income for the remaining groups are: Grain and Ethanol, $1.8 million; Rail Group, $6.2 million; Turf and Specialty Group, $2.1 million and Retail Group, $32.1 million.
Named best company
Edward Jones, which has an office in Portland, was recently named by BizVoice as the best place to work in Indiana with 200 or more employees. The program, in its inaugural year, is presented by the Indiana
See Business page 6
Chamber in partnership with Anthem Blue Cross and Blue Shield.
The investment company earned its distinction based on effective training for new employees and the philosophy that hard-working employees should reap the benefits of the company’s success.
Clerk certified
The Indiana League of Municipal clerks and Treasurers recently announced that Tina Paxson, deputy clerk-treasurer for the city of Portland, is a recipient of Indiana Accredited Municipal Clerk certification.
Paxson received this certification through schooling, job experience and participation of league functions and workshops.
Paxson, who resides with her husband, Max, in the Bryant area, has worked in the Clerk-Treasurers Office since 1979.
Announces new CEO
Micromatic LLC of Berne has named Richard A. Bush of Lafayette as its new president and chief executive officer.
Bush, who was twenty-six years of experience in manufacturing, most recently served as senior vice president and chief financial officer for Fairfield Manufacturing in Lafayette.
Micromatic manufactures and sells rotary actuators for on-and off- highway and industrial applications. The company also designs, engineers and installs engine and transmission component manufacturing equipment.[[In-content Ad]]
Sales rose 8.7 percent to $9.98 billion from last year, including same-store pharmacy sales rising 6.8 percent and sales in front of the store rising 4.7 percent.
These increases helped soften the losses accrued due to Easter falling in the second quarter this year.
CVS, the largest U.S. drug store by store count has 5,483 pharmacies, and plans to close its acquisition of 700 Osco and Sav-On stores in June.
Wal-Mart April
sales strong
Wal-Mart Stores Inc. beat its own forecast of a 4 to 6 percent rise in sales with a preliminary increase of 6.8 percent in same-store sales for April, reported The Wall Street Journal this week.
The retailer said the improvement was mostly seen in food and other consumable goods, and that customers tended to buy more items on fewer trips.
Charles Grom, an analyst with J.P. Morgan Chase & Co. predicted that the boost may be because of Easter falling later in April, rather than in March.
Wal-Mart’s increase during March was 1.4 percent.
Certified
GEM dealerships
Bud’s Chrysler Dodge Jeep in Celina and Bud’s Chevrolet Buick in St. Marys are certified GEM dealers.
GEM, the first electric low-speed vehicle to be offered by a major automaker, can drive up to thirty miles on a single charge, and can be plugged in to any 110-volt outlet for recharging.
GEMs have a top speed of 25 mph, can be driven on roadways posted up to 35 mph and meet all federal safety standards for low-speed vehicles.
Tyson reports loss
Tyson Foods Inc., based in Springdale, Ark., reported a net loss of $127 million for the quarter ending April 1.
Sales fell 1.7 percent to $6.25 billion, likely because of international concerns about avian flu has slowed chicken consumption.
In order to help reduce meat inventories and improve operating margins, chief executive John Tyson said it will not increase U.S. poultry productions for the summer months and will likely promote its beef products.
In addition, an announcement by Brazil, Tyson’s biggest export competitor, that it would reduce chicken production by 15 percent could help boost international prices.
Andersons reports
first-quarter gains
The Andersons Inc. announced this week first-quarter net income of $3.8 million and total revenue of $281 million.
This is up from the first quarter of 2005, when the company reported a net income of $1 million on $259 million of revenues.
Four out of the five operating groups reported gains. Only the Plant Nutrient Group operated at a loss of $1.2 million, largely because of the season. Similarly, this group reported a loss of $.8 million the first quarter of 2005.
Net income for the remaining groups are: Grain and Ethanol, $1.8 million; Rail Group, $6.2 million; Turf and Specialty Group, $2.1 million and Retail Group, $32.1 million.
Named best company
Edward Jones, which has an office in Portland, was recently named by BizVoice as the best place to work in Indiana with 200 or more employees. The program, in its inaugural year, is presented by the Indiana
See Business page 6
Chamber in partnership with Anthem Blue Cross and Blue Shield.
The investment company earned its distinction based on effective training for new employees and the philosophy that hard-working employees should reap the benefits of the company’s success.
Clerk certified
The Indiana League of Municipal clerks and Treasurers recently announced that Tina Paxson, deputy clerk-treasurer for the city of Portland, is a recipient of Indiana Accredited Municipal Clerk certification.
Paxson received this certification through schooling, job experience and participation of league functions and workshops.
Paxson, who resides with her husband, Max, in the Bryant area, has worked in the Clerk-Treasurers Office since 1979.
Announces new CEO
Micromatic LLC of Berne has named Richard A. Bush of Lafayette as its new president and chief executive officer.
Bush, who was twenty-six years of experience in manufacturing, most recently served as senior vice president and chief financial officer for Fairfield Manufacturing in Lafayette.
Micromatic manufactures and sells rotary actuators for on-and off- highway and industrial applications. The company also designs, engineers and installs engine and transmission component manufacturing equipment.[[In-content Ad]]
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