Aqua America Inc. reported a 41 percent jump in first-quarter profits. The Bryn Mawr utility said it earned $30.4 million, or 22 cents a share, compared with $21.5 million, or 16 cents a share, in the first quarter of 2011. Revenues totaled $171.3 million compared with $160.5 million in the same period of 2010, an increase of 6.7 percent. Aqua's shares closed Friday in New York up 13 cents at $22.56. - Andrew Maykuth
Synthes Inc., the West Chester maker of devices to treat bone fractures and traumatic injuries, was sued by a Massachusetts shareholder contending
the price of its proposed $21.3 billion purchase by Johnson & Johnson is inadequate. The proposed deal is more favorable to J&J than Synthes shareholders in light of the company's dominant market share of orthopedic devices and J&J's recent stock declines after struggling with recalls, the Norfolk County Retirement System said in the complaint filed Thursday in Delaware Chancery Court in Wilmington. Daniela Stuber, a spokeswoman for Synthes, didn't immediately return a phone call and e-mail seeking comment. Bill Price, a J&J spokesman, declined to comment in a telephone interview. - Bloomberg News
Greyhound Lines Inc. said it was adding a Philadelphia-Baltimore-Washington route to its new Greyhound Express service. Greyhound Express, which began in December, now serves 14 cities and offers such services as free WiFi, extra legroom, power outlets, and a dedicated passenger waiting area. The Philadelphia service will begin May 17. - Paul Schweizer
Broder Bros., a Trevose distributor of activewear, reported a first-quarter profit of $4.3 million, a turnaround from a loss of $6.5 million in the same quarter last year. It attributed the gain to an increase in sales volume - sales rose 13 percent - and a focus on improved pricing and purchasing. But Broder also said its major suppliers had imposed two rounds of cost increases, and competitive pressure kept the company from passing along the full amounts to customers. - Paul Schweizer
