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BUSINESS
December 10, 2007 | By Joseph N. DiStefano, Inquirer Staff Writer
What makes a company valuable? In the stock markets, where software writers, oil refiners, toy-makers and bomb builders compete for the same investor dollars, it doesn't matter what you make, or even how much you sell; it's how much profit investors expect you're going to keep that determines share prices. Thirteen Philadelphia-area companies rank on the Standard & Poor's list of 500 big publicly traded corporations. The most valuable is Comcast Corp. , the Philadelphia-based cable TV, Internet and phone company, which earned $2.5 billion on gross sales of $25 billion last year, and was worth $64 billion - based on the price Wall Street assigns to its shares - on the Nasdaq Stock Market at the start of November.
BUSINESS
August 3, 2005 | By Akweli Parker INQUIRER STAFF WRITER
Vishay Intertechnology Inc. of Malvern said yesterday that its second-quarter profit fell to $9.7 million, or 5 cents a share, from $41.1 million, or 22 cents a share, in the year-earlier period, because of lower sales and special expenses. Second-quarter sales dropped to $581.6 million from $646.7 million in the 2004 quarter. Gerald Paul, Vishay's president and chief executive officer, said in a conference call that the company expected third-quarter sales of $560 million to $580 million and profit to be flat or slightly lower than in the 2004 third quarter.
BUSINESS
August 14, 1986 | From Inquirer Wire Services
Trans World Airlines chairman Carl C. Icahn yesterday predicted that the carrier would post a third-quarter profit, its first in more than a year, because of increased overseas bookings and lower labor costs. He also told shareholders at their annual meeting that he plans to have $1 billion in cash by the end of the year and hopes to use it to acquire another carrier. "With our cost structure so low, we believe we'll be in a good position to consolidate," he said, although he declined to be more specific about when or with what airline such a merger might occur.
BUSINESS
August 25, 1994 | By Susan Warner, INQUIRER STAFF WRITER
Strawbridge & Clothier, the Philadelphia department-store operator, yesterday said that despite lower sales, continued cost control allowed it to earn a profit in the second quarter. Last year, it reported a loss for the quarter. The company said sales were down slightly because of less advertising this year than in 1993. But the cost of sales dropped from 77.2 percent of sales to 76.1 percent this year because of lower occupancy and buying costs and fewer markdowns, the company said.
BUSINESS
May 7, 1987 | By ROBIN PALLEY, Daily News Staff Writer
Executives of the local research and development company Biosonics told shareholders yesterday that the company is pinning its immediate hopes to the success of an electronic device that can help people who have bowel control problems. Food and Drug Administration approval of the Biosonics Anotron incontinence system paves the way for the company - which has spent more than $5 million developing new applications for electronics in medicine - to make the transition to manufacturing and marketing, according to chairman Jack Paller.
BUSINESS
July 29, 1986 | The Inquirer Staff
Westmoreland Coal Co. yesterday said it earned $5.8 million or 71 cents a share in the second quarter, in contrast with a $732,000 or 9-cent-per-share loss a year earlier. The turnaround for the Philadelphia-based company came as coal sales rose 5.9 percent, to $146.5 million compared with $138.4 million sold in the second quarter of 1985. Total revenue, which includes non-coal subsidiaries, was $157.8 million, compared with $150.2 million in 1985. The company also kept its costs down, according to chairman E.B. Leisenring Jr. Earnings for the first half of 1986 were $10.4 million or $1.28 per share, compared with a loss of $3.3 million or 40 cents per share in the first half of 1985, the company said.
ENTERTAINMENT
January 21, 1986 | By David Bianculli, Inquirer TV Critic
When The 1986 Miss Teen USA Pageant begins tonight on CBS (9 p.m., Channel 10), the screen will be filled with attractive scenery: 51 young women and the sands and surf of Florida's Daytona Beach. In business terms, the location is no less important than the competition. "Look at the sheer economics of it, at the simplest facts of what a pageant is," says George B. Honchar, president of Miss Universe Inc. "Nowadays, city governments are big business. . . . Everyone is very, very sensitive and alert to promotion.
BUSINESS
September 13, 1990 | The Inquirer Staff
Profits at Charter Power Systems Inc. jumped 85 percent in the second quarter, the Plymouth Meeting maker of batteries said yesterday. "Although slow economic activity is affecting the industries we serve, technical manufacturing improvements, production and purchasing efficiencies, targeted marketing and sales successes and changes in late 1989 to a new debt structure . . . have helped produce the improved results for Charter Power," said Robert...
BUSINESS
August 10, 1990 | The Inquirer Staff
Cost-cutting efforts paid off in a big way in the second quarter at Vishay Intertechnology Inc., the Malvern maker of electronic resistors, sensors and other components. The company said its profits rose by nearly two-thirds on a modest increase in sales. "We are pleased that the effects of our planned cost-reduction programs are now starting to be seen in our results," said Felix Zandman, chairman and chief executive officer. "These programs will continue to be a high priority.
BUSINESS
November 18, 1993 | By Susan Warner, INQUIRER STAFF WRITER
Charming Shoppes Inc. (Nasdaq), the Bensalem women's-apparel retailer, yesterday reported that earnings were dampened in the third quarter by more promotional markdowns than planned. The company, which operates nearly 1,300 stores under the name Fashion Bug, also said its earnings for the year were below expectations. Bernard Brodsky, the company's treasurer, said that after strong holiday sales last year, Charming Shoppes brought in additional merchandise for this year. But continued economic weakness and bad weather hurt sales, forcing Charming Shoppes to mark prices down, he added.
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ARTICLES BY DATE
BUSINESS
August 27, 2016 | By Harold Brubaker, STAFF WRITER
Einstein Healthcare Network, which owns hospitals in Philadelphia and Montgomery County, on Thursday reported preliminary results for 2016 showing its first annual operating gain since 2012. The tax-exempt organization said it had an operating gain of $2.34 million in the year ended June 30, up from a $1 million operating loss the year before. In each of the two prior years, including fiscal 2013, when Einstein Medical Center Montgomery opened in East Norriton, Einstein had losses of more than $20 million.
BUSINESS
July 24, 2016 | By Linda Loyd, Staff Writer
Shares of American Airlines rose Friday after the company reported second-quarter profit that beat Wall Street expectations. But on a year-over-year basis, revenue was down 4.3 percent and profits fell 44.3 percent. The bottom line was hurt by a $543 million provision for income taxes, capacity growth by competitors, continued global economic softness, and foreign currency weakness. Philadelphia's largest airline earned $950 million, or $1.68 per share, in the three months ended June 30, compared with $1.7 billion, or $2.41 per share, a year earlier.
BUSINESS
June 26, 2016 | By Harold Brubaker, Staff Writer
Cadbury Nursing & Rehabilitation Center, in Cherry Hill, part of a nonprofit founded by Quakers in 1978, is under agreement of sale to a for-profit company. If the sale is completed, Cadbury will join an exodus that has seen the percentage of the Philadelphia region's nursing homes owned by for-profits surge to 63 percent this year, from 49 percent in 2010, an Inquirer analysis of federal data found. Nonprofits sell facilities for many reasons: They need the money, change their mission, or succumb to financial pressures on the industry largely caused by heavy reliance on the federal government's low-paying Medicaid program.
BUSINESS
May 28, 2016 | By Andrew Maykuth, Staff Writer
This week's capacity auction for the regional power grid contained some good news for consumers: Prices are down. But the results will increase pressure on generators struggling to compete in a new energy world dominated by abundant natural gas. Payments from consumers to suppliers that can guarantee capacity in the year starting June 2019 will fall by $4.1 billion to $6.9 billion, said PJM Interconnection L.L.C., the Valley Forge grid operator that...
BUSINESS
May 25, 2016 | By Joseph N. DiStefano, Staff Writer
Regarding the 51/2-week strike against Verizon by nearly 40,000 union members: After talking to company and union leaders, "we continue to expect the strike to end relatively soon," but it will still reduce this year's earnings for Verizon by around $200 million, or a nickel a share, writes New York-based telecom analyst Barry Sine in a report to clients of Philadelphia-based Drexel, Hamilton & Co. Both labor and management say "a solution is possible,"...
BUSINESS
April 24, 2016 | By Linda Loyd, Staff Writer
American Airlines flew into headwinds with investors Friday. Shares traded down $1.80 to close at $38.21 after Philadelphia's largest carrier reported a first-quarter profit that beat estimates, but analysts and investors worried about the company's near-term revenue guidance. The world's largest airline by passenger traffic earned $700 million, or $1.14 a share, down from $932 million, or $1.39 a share, a year earlier. Passenger unit revenue, the amount for each seat mile flown and a key industry measure, declined 7.5 percent in the three months ended March 31. American predicted a similar drop - between 6 percent and 8 percent - in the second quarter.
NEWS
March 25, 2016 | By Linda Loyd, STAFF WRITER
American Airlines, the largest carrier at Philadelphia International Airport, announced Wednesday it will begin profit sharing with employees based on 2016 earnings. The payout will be 5 percent of every pre-tax dollar earned, and will go to about 110,000 of American's 120,000 employees. Some managers will not qualify. Delta, Southwest, and United airlines all have employee profit sharing. The announcement by American CEO Doug Parker and president Scott Kirby came after unions for American pilots and flight attendants pressed hard to share in the profits - $7.6 billion in 2015.
NEWS
February 26, 2016 | By Jeremy Roebuck, Staff Writer
Federal prosecutors alleged Wednesday that corrupt officials in the Chinese government financially supported and may have benefited from a scheme to steal trade secrets worth billions from a GlaxoSmithKline research facility in Montgomery County. But lawyers representing one of the five defendants accused of pilfering information from the British-based pharmaceutical giant's Upper Merion Township location called such claims a "fantastical assertion. " The dispute - which boiled over at a detention hearing in federal court in Philadelphia - struck at the heart of debate over the Justice Department's recent checkered history in prosecuting cases of alleged theft of trade secrets involving Chinese American scientists.
NEWS
February 20, 2016
ISSUE | SECURITY For Apple, it's about business Might I suggest that Apple chief executive officer Tim Cook's position ("Apple defies judge's order to unlock terrorist's phone," Thursday) has very little to do with security and much more to do with the bottom line? From the inception of telephone service two centuries ago, the government has had the ability to obtain a wiretap with a court order - and the sky hasn't fallen. This is not different. When the needs of the many outweigh the needs of the one, the needs of the many should take precedence.
BUSINESS
February 3, 2016 | By Harold Brubaker, STAFF WRITER
Inspira Medical Center Woodbury Inc. last year had its first operating profit since 2010, the hospital reported Monday. The Woodbury facility, which is part of Inspira Health Network, had an operating gain of $2.69 million last year, up from a loss of $4.57 million in 2014, on strong outpatient revenue, Inspira said. Inspira said that Woodbury did better than budgeted in outpatient surgeries, physical therapy visits, diagnostic radiology procedures, cardiac catheter laboratory cases, and emergency room visits.
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