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NEWS
August 9, 2011
Entercom Communications Corp., the Bala Cynwyd-based radio-station owner, said second-quarter revenue fell 1 percent, to $104.7 million. The financial results were released late Monday. Shares were down 24 cents, to $6.04 in Tuesday afternoon trading. A onetime income tax benefit for the quarter that ended June 30 boosted net income to $48.7 million, or $1.29 per share, from $14.3 million, or 38 cents a share, a year earlier. Adjusted income fell 11 percent, to 31 cents per share.
NEWS
July 11, 2012 | By Suzette Parmley, INQUIRER STAFF WRITER
If June revenue numbers released Tuesday by the New Jersey Division of Gaming Enforcement are a barometer of how well a casino will perform in the slower winter months in Atlantic City, then the new Revel is in trouble. June is a peak month at the Jersey Shore resort, and the mega casino generated $14.9 million on total gambling revenue, ranking it 8th among the city's dozen gambling halls for the third consecutive month since it debuted April 2. By comparison, market leader Borgata pulled in $53.3 million last month, about three and a half times more than Revel.
NEWS
November 29, 2011 | By Terrence Dopp, BLOOMBERG
New Jersey Turnpike revenue for the year through October was $47.1 million below forecasts, Bloomberg News reported. It said the turnpike authority collected $934 million in the first 10 months of 2011. Officials said, according to Bloomberg, that bad weather and high gasoline prices contributed to reduced use of toll roads by motorists.    - Inquirer staff
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.
BUSINESS
February 26, 2004 | By Jane M. Von Bergen INQUIRER STAFF WRITER
The continued soft labor market kept revenue down at CDI Corp., a national staffing company based in Philadelphia. The economy's gains in the third and fourth quarter "did not translate into any real improvement in our business," chief executive officer Roger H. Ballou said in a conference call yesterday to announce fourth-quarter and full-year results. Annual revenue fell from $1.2 billion in 2002 to $1.1 billion last year, although the company swung from a loss of $9.4 million a year ago to a profit of $22.5 million.
SPORTS
September 6, 1995 | THE INQUIRER STAFF
Reds owner Marge Schott is about $3 million behind in payments to Cincinnati for home-game revenues, the city manager said yesterday. John Shirey told the City Council that Schott is withholding the money until she gets a new lease for Riverfront Stadium. Schott also wants a new baseball-only stadium downtown. Shirey told the council that Schott had not paid the city its share of revenues from admissions, concessions and program sales since August 1994. A team spokesman said that Schott would have no comment.
NEWS
May 11, 2011
InterDigital Inc., a King of Prussia wireless communication company, today forecast that its second-quarter revenue would be down by about $9.5 million, or 12 percent, from the first quarter. It projected revenue for the quarter, which will end on June 30, of $69 million compared with $78.5 million in the first quarter. The projection is down $22 million, or 24 percent, from the second quarter last year. InterDigital said the decline is caused by a drop in revenue from customers in Japan, possibly a result of the March 11 earthquake and tsunami, plus a reduction in past sales and lower revenue from an existing customer that changed its contract terms.
NEWS
August 23, 2010
Medical device company Kensey Nash Corp., of Exton, said income for the quarter ended June 30 was up 25 percent to $5.9 million, or 60 cents per share, on revenue of $21.9 million. That compares with $4.7 million, or 41 cents per share, on $20.5 million in revenue a year earlier. The latest results were for the company's fiscal fourth quarter. Company shares jumped on the news. They were up $1.42, or 6.2 percent, to $24.28 in early afternoon trading. Full-year results had lower earnings but better results per share.
NEWS
November 28, 2012 | By Stacie Sherman, Bloomberg News
New Jersey revenue would need to rise 9.9 percent for the rest of fiscal 2013 to meet Gov. Christie's budget goal following a drop in collections last month, the Office of Legislative Services (OLS) said Monday. Revenue in the first four months of the year, which began July 1, was 3.4 percent above year-earlier levels. That's well short of the 8.4 percent growth projected by Christie's administration, the nonpartisan office said Monday in a report. "Most major revenues continue to lag growth rates necessary to achieve the certified year-end targets," legislative budget analysts said in the memo.
BUSINESS
May 22, 2013
Urban Outfitters Inc., the hipster retailer headquartered at the Navy Yard, reported Monday that it had record quarterly revenue and a 39 percent increase in profit after reining in store markdowns. The revenue results nevertheless missed analysts' expectations. The company released its numbers after the stock market closed Monday, and shares fell in aftermarket trading. For the three months ended April 30, Urban said it earned $47.1 million, or 32 cents per share, on sales of $648.2 million.
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NEWS
August 12, 2016 | By Susan Snyder, STAFF WRITER
The cash-strapped Philadelphia School District will begin trolling for more tax dollars from city properties that have been significantly under valued, officials announced Tuesday. The district will seek proposals from law firms, real estate appraisers and other professionals to help identify properties that are assessed at least $1 million under their actual value and appeal those assessments. District officials aren't sure how much money the effort will bring in, but said the district needs all tax revenue to which it is entitled.
NEWS
August 12, 2016 | By Alexandra Villarreal, Staff Writer
'Sooner or later, we are either going to have to pay for journalism or we are all going to pay for it," John Oliver warned in his HBO show Last Week Tonight . On Sunday, Oliver took aim at the declining newspaper industry in the United States, citing diminishing advertising revenue as the Fourth Estate's death knell if people continue not buying subscriptions. Between 2004 and 2014, online ad revenue generated $2 billion in profit, Oliver said, while print ad revenue fell by $30 billion.
NEWS
August 3, 2016 | By Claudia Vargas, Staff Writer
Editor's note: This story's online headline has been changed to reflect the correct amount of tax revenue. The city's coffers received an estimated $3 billion in tax revenue, $88 million more than expected, for fiscal year 2016. The added cash was a result of an increase in home sales and job growth, according to the city controller's monthly economic report, released Monday. The report looked at June and also at the full fiscal year, which ended June 30, and compared it with five years prior.
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
July 3, 2016 | By Harold Brubaker, STAFF WRITER
Prospect Medical Holdings Inc. completed its $300 million acquisition of Crozer-Keystone Health System, the Los Angeles company said Friday. Prospect, which now owns 18 hospitals in California, Texas, Rhode Island, New Jersey, and Pennsylvania, said it offered jobs to "all Crozer-Keystone employees and management in good standing who are current as of the closing date. " Crozer, with about 6,000 employees, is Delaware County's largest employer, officials have said. Prospect, majority owned by private-equity firm Leonard Green & Partners, had $1.3 billion in revenue in the year ended Sept.
NEWS
June 11, 2016
Watching Mayor Kenney's proposed legislation to tax sugary drinks wend its way toward expected City Council approval gives credence to the old saying that laws are like sausages: It's better not to see them being made. Philadelphia politics in particular can be pretty disgusting to watch, as moves and countermoves conceal true motives. The intent of Kenney's plan - to raise revenue to provide more early-childhood education opportunities for the city's children - is without question noble and needed, and Council's preliminary assent is a victory.
NEWS
June 6, 2016
With only 25 days left before the constitutionally mandated deadline for a new state budget passes, talk in Harrisburg suggests there won't be a repeat of the partisan impasse that blocked a spending plan for the current fiscal year for nine months. But to quote an old saying: Talk is cheap. Especially when the talking thus far hasn't come from Gov. Wolf and Republican legislative leaders; it's come from surrogates whose reportedly cordial conversations have raised hopes that a budget deal won't be as hard to reach this time.
NEWS
May 25, 2016 | By Jason Laughlin, Staff Writer
An agreement between Philadelphia, the Parking Authority, and ride-share businesses virtually guarantees that the School District will not see a financial benefit if a bill to regulate such services as UberX and Lyft is passed as written. Under the tax structure proposed by the bill, ride-share businesses would likely have to generate much more money than anticipated to create enough taxable income for the schools to benefit. The structure is primarily designed to ensure that the Parking Authority will recover the cost - as much as $4 million - expected to be spent on regulating an estimated 15,000 vehicles used in ride sharing, a PPA spokesman said.
NEWS
May 20, 2016 | By Maddie Hanna, TRENTON BUREAU
New Jersey's revenues are projected to fall more than $600 million short of what is budgeted for the fiscal year ending next month, the state treasurer said Wednesday, in large part due to income-tax collections missing their marks. Acting Treasurer Ford Scudder told lawmakers that the Christie administration would fill the hole by shifting money from a number of areas that have underspent and cutting into the projected budget surplus. As for the next fiscal year, which begins July 1, the administration has revised the $34.8 billion budget Gov. Christie proposed in February, reducing projected income-tax collections by $443 million.
NEWS
May 19, 2016 | By Martha Woodall, Staff Writer
For the first time in years, Philadelphia School District officials did not go hat in hand when they presented a proposed $2.8 billion budget for city schools to City Council on Tuesday. But they told Council members that the district wanted to begin talks with city and state officials now about how to address a funding crunch that is expected in 2019 because projected costs are rising at nearly twice the rate as revenues. "Working together, we have an opportunity to develop a road map to head off these challenges," said Superintendent William R. Hite Jr. "We are committed to getting ahead of the problem, and want to work with the city and state now, while we have time provided by modest fund balances to find recurring sources of revenue.
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