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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
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
June 13, 2012 | By Suzette Parmley and INQUIRER STAFF WRITER
Despite the much-anticipated addition of the Revel mega-casino, Atlantic City saw a heavy decline in gambling revenue last month, prompting some operators to question openly whether the $2.4 billion newcomer would provide the economic lift the resort had hoped for. The city's total gambling revenue was $263 million in May, down 9.5 percent compared with a year ago. Excluding Revel, revenue declined 14.3 percent. "Revel's results came in weaker than expected," said gambling analyst John Kempf of Wells Fargo Securities L.L.C.
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
July 21, 2011 | By JOHN F. MORRISON, morrisj@phillynews.com 215-854-5573
THE CAREER of M. Christine Murphy made it clear to anyone who doubted it that women make good bosses. Back in the administration of Mayor W. Wilson Goode, Christine, who was the revenue commissioner, was cited as one of the six female city officials who were really running the city. "The city's revenue commissioner is the keeper of the bank vaults," an Inquirer writer noted in 1988. "Knowing how much tax money is actually flowing into city coffers, she is in a powerful backroom position to tell the mayor how much is left to pay bills and salaries.
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.
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NEWS
May 7, 2015 | BY WENDY RUDERMAN, Daily News Staff Writer rudermw@phillynews.com, 215-854-5924
CHA-CHING! It's no secret that parking tickets generate revenue for the city. But does the Nutter administration actually want drivers to rack up fines? "That couldn't be further from the truth," said Andrew Stober, chief of staff for the mayor's Office of Transportation and Utilities. Stober yesterday sought to clear up any misconceptions one day after he publicly expressed concern about a proposed pay-by-phone parking app that could result in fewer tickets and perhaps less money for the city's cash-strapped school district.
BUSINESS
April 18, 2015 | By Harold Brubaker, Inquirer Staff Writer
  Pennsylvania's 12 casinos in March brought in $69.8 million in revenue from table games, the industry's highest total since table games started in July 2010, the Pennsylvania Gaming Control Board reported. The total was 2.7 percent higher than last year. March table games revenue was down 4.7 percent at the four casinos in the Philadelphia area, to $29.4 million from $30.8 million, compared to a year ago. Harrah's Philadelphia, in Chester, and Valley Forge Casino, in Upper Merion Township, had double-digit percentage declines, while revenue rose at Parx and SugarHouse, data from the Gaming Board showed.
BUSINESS
April 8, 2015 | By Harold Brubaker, Inquirer Staff Writer
Independence Health Group Inc., the nonprofit holding company for Independence Blue Cross and other businesses affiliated with the Philadelphia region's largest health insurer, on Monday reported a decline in annual net income for the third year in a row. The drop, to $69.18 million last year from $142.64 million in 2013, came despite a 19 percent gain in revenue, to $13.2 billion, and the addition of two million members to Independence's operations...
BUSINESS
April 6, 2015 | By Andy Maykuth, Inquirer Staff Writer
Electric utilities across the nation are responding to slumping sales by boosting fixed customer charges, generating a guaranteed cash flow regardless of the volume of energy a customer consumes. Pennsylvania's two largest electric companies, Peco Energy Co. and PPL Electric, have filed in recent days rate-increase requests that seek substantial boosts in basic monthly charges. This shift toward fixed fees has aroused opposition in other states from advocates for low-income customers and seniors, as well as from renewable-energy and environmental groups.
BUSINESS
March 20, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
What to do, now that the neighbors in New York, Maryland, and Ohio have casinos, too, and Pennsylvania's tax revenue from gambling has slipped from $1.40 billion in fiscal 2012 to $1.38 billion in 2013 and $1.32 billion in 2014? State Rep. John Payne (R., Dauphin) said he and Rep. Nick Kotik (D., Allegheny), senior members of the House Gaming Oversight Committee , want to add Internet and sports-betting programs that match the ones developing in New Jersey, Delaware, and other nearby states.
BUSINESS
March 5, 2015 | By Harold Brubaker, Inquirer Staff Writer
Revenue from slot machines at four Philadelphia-area casinos climbed 4.8 percent in February, to $69.3 million from $66.1 million last year. At the state's other eight casinos, slot revenue was down 1 percent, to $113.9 million from $115 million. Three of four Philadelphia-area casinos - Parx in Bensalem, SugarHouse in Philadelphia, and Valley Forge in Upper Merion - posted gains in the month, with Parx accounting for nearly two thirds of the gain locally. Harrah's Philadelphia, in Chester, had a decline of $50,650, to $17.96 million.
BUSINESS
March 5, 2015 | By Harold Brubaker, Inquirer Staff Writer
Tropicana Casino & Resort Atlantic City reported a 24 percent gain in net revenue last year, to $303.08 million from $244.47 million the year before, thanks largely to $55.2 million increase in gambling revenues. But operating profits barely budged, excluding a $31.7 million property tax refund from Atlantic City in January 2014, to $12.4 million in 2014 from $11.19 million the year before, according to Tropicana Entertainment Inc.'s annual report to investors. Tropicana is part of investor Carl Icahn's gambling empire, which also includes casinos in Indiana, Missouri, Nevada, Louisiana, Mississippi, and Aruba.
NEWS
February 19, 2015 | By Harold Brubaker, Inquirer Staff Writer
Revenues from table games at the four casinos in Southeastern Pennsylvania climbed 7.4 percent in January, to $27.9 million, compared to $26 million the year before, the Pennsylvania Gaming Control Board reported Tuesday. Parx, SugarHouse, Harrah's, and Valley Forge all posted gains in the month. All but Harrah's recorded highs for January, since table games, such as poker and craps, started in fiscal 2011. The overall gain for the state's 12 casinos was 12.5 percent, to $66.02 million from $58.71 million.
SPORTS
February 14, 2015 | By Joe Juliano, Inquirer Staff Writer
Another provision of the sanctions assessed against Penn State as a result of the Jerry Sandusky child sex-abuse scandal has been reversed with the announcement Thursday that the university once again will receive its full share of bowl revenues from the Big Ten Conference beginning with the 2015 season. In a statement, the Big Ten said its council of presidents and chancellors decided at a meeting Wednesday to restore the bowl revenue, saying that "the original bowl fine was based on NCAA actions, most of which have been rescinded over the past six months.
BUSINESS
January 29, 2015 | By David Sell, Inquirer Staff Writer
Drugmaker Pfizer Inc. might grow, or break up, or some combination of both. Chief executive officer Ian Read said Tuesday that Pfizer will keep looking for companies to buy and is taking the next steps to see whether its pieces are worth more than the sum of its parts. Pfizer has said that it tried to buy AstraZeneca in 2014, and it reportedly inquired about buying Actavis and Teva Pharmaceutical Industries Ltd. AstraZeneca, Teva, and Actavis all have operations in the Philadelphia region.
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