January 25, 2008 |
Commerce Bancorp Inc. today reported a 47 percent drop in fourth quarter profits on higher loan losses, charges related to the sale of its insurance brokerage and losses on investments. The Cherry Hill bank, which has scheduled a shareholder vote Feb. 6 on its sale to Toronto-Dominion Bank, said its fourth quarter net income was $33.4 million, or 17 cents per share, compared with $62.8 million, or 32 cents per share, in the same period of 2006. Commerce shares were up 7 cents, to $37.23 in morning trading on the New York Stock Exchange.
May 17, 1988 |
Pssst. Hey, buddy. Wanna make a quick buck? Yeah? Listen close. Try exports. Such advice abounds these days - from government agencies, private consulting firms, international marketers, shippers and others. Export now, profit-minded managers are being told. After all, the declining value of the dollar has made U.S. goods and services cheap to a world of very hungry consumers. Americans, suddenly more competitive overseas, need only to ship abroad to increase their bottom lines, the trade soothsayers purr.
April 8, 2010 |
City Controller Alan Butkovitz's investigation of 13 Philadelphia charter schools found repeated examples of complex real estate arrangements in which charters leased or rented facilities from related nonprofit organizations. "The way the charter law is written and not enforced, there is a gigantic loophole through which people can profiteer," Butkovitz said. "This is not supposed to be a vehicle for maximizing profit for operators and related parties. " Butkovitz began his special fraud investigation of charters several months after The Inquirer reported allegations in April 2008 of financial mismanagement and conflicts of interest at Philadelphia Academy Charter School.
May 18, 1999 |
Maybe the Phillies haven't come right out and said they have lost a lot of money in recent years, but they certainly have cultivated that impression. They talk about how unfavorable their lease is at Veterans Stadium. They talk about needing a new ballpark, partly funded by the state and city, to become competitive again. They talk about being unable to afford top free agents. Somehow, a figure wormed its way into the public consciousness. It became accepted that the Phillies lost around $10 million last season.
May 22, 2012 |
Profitability declined as sales increased 9 percent at Urban Outfitters Inc., during the three months ended April 30, the Philadelphia-based retailer reported in releasing quarterly earnings Monday. The company said it collected net profit of $34 million on $569 million in sales, a decline in margin from the same period a year earlier, when the specialty apparel retailer posted earnings of $39 million on $524 million in sales. Net earnings per share for both quarters remained at 23 cents.
October 25, 2011
After losing money for nine straight quarters, Sun Bancorp Inc., which is headquartered in Vineland but has executive offices in Mount Laurel, reported a third-quarter profit of $2.68 million, or 3 cents per share. In the same period last year, Sun lost $75.27 million, or $3.14 per share. The bank, with $2.73 billion in deposits at 65 offices in New Jersey, continued to whittle down its problem loans, which totaled $140.8 million on Sept. 30, compared to $143.5 million on June 30 and $177.69 million on Dec. 31. - Harold Brubaker
November 1, 2012
AmerisourceBergen Inc., one of the nation's largest wholesale drug suppliers, reported profit increases for its fourth quarter and 2012 fiscal year, both of which ended Sept. 30. Based in Chesterbrook, the company said its full-year revenue declined from about $80 billion to about $79.5 billion, but net income increased by 1.7 percent, to $719 million. AmerisourceBergen also said it plans to sell its subsidiary, AndersonBrecon, a contract pharmaceutical packaging business. CEO Steven Collis said in a conference call with analysts that the unit was profitable by itself, but AmerisourceBergen had not generated the anticipated extra cash from the division's connection to the main operation.
August 12, 1987 |
Pennsylvania Blue Shield, the non-profit health insurer, yesterday created a subsidiary to operate new profit-making businesses, under the stewardship of G. Fred DiBona, who will be president and chief executive. DiBona, who headed the Greater Philadelphia Chamber of Commerce before becoming president and chief executive of Keystone Health Plan East last year, will retain those titles. Keystone Health Plan East is Blue Shield's health maintenance organization serving Philadelphia, Bucks, Chester, Delaware and Montgomery counties.
February 4, 1990 |
Now that Art Buchwald has won a verdict that Paramount Pictures swiped his idea for Coming to America, he just has to figure out how a film can gross more than $300 million worldwide and still not make a net profit. The California court ruling in Buchwald's favor last month means that the humorist and Alain Bernheim, a producer, get to split about $250,000 plus interest - not even a generous tip by Hollywood standards. But they're also entitled to 19 percent of the film's net profit.
May 1, 2008 |
Advanta Corp. yesterday reported a steep decline in profit from its small-business credit cards in the first quarter, as the slumping economy caused more borrowers to fall behind in their payments. Even so, the Spring House company's class B shares jumped 16.45 percent, or $1.24, to $8.78 in Nasdaq trading yesterday because the earnings were better than expected. Advanta said its credit card operation earned $6.67 million in the first quarter, off sharply from $21.17 million in the same period a year earlier.