grachevakautawil.blogspot.com
Fifteen out of 25 banks tracked by the saw reducepretax income, according to data compiled by the WBJ. But in some the decline wasn’t significant. , the city’ss largest, was the top bank for profitability witha 2.35 percent pretax return on assetsx — but it posted a 3 percenrt decrease in income to $80.7 million. Among othef large banks, saw an 11 percent drop in Four banks posted losses for the The earningscontraction isn’t says Chuck Stones, presidenty of the . The nationb spent the year in a “Banks in the rural parts of thestate didn’ see as much of a declin in earnings.
Banks whered commercial real estate was the focus was where the majorithy of the decrease inearnings occurred,” Stoneas says. “Just less of what makes banks money — which is lending — is what causes earninges to fall.” Loan demand has been dampene d by the recession at the same time banks are tighteningb theirlending standards. But, he stressed, there’s “not buncg of banks on the brink” of Lyndon Wells, executive vice president for Intrust says the chief pressure points for banks are tightefrinterest margins. The cut its federakl funds rate essentiallyto zero. It has tightene the spread between deposit andloan rates.
“That’s adverselyy impacted our earnings,” Wells says. He says 2009 looksx to be more challenging for bank Loan demand has dropped as business owners stavde offmajor purchases. Banks, are doing what they can to establishn interest rate floors with theircustomers — but keep them, too. “Thi whole credit crisis has caused banks to be responsive to existinf customers but not stretch as far as they woulsd have otherwise in looking for new he says. Banks also are eyeing theirr credit quality. Emprise Bank CEO Tom Page says his bank increaseedits loan-loss reserves followinbg “two deals that were significant” — about $500,000 each.
The bank also grew its loan portfoliioby $100 million, another factor causinv banks to bolster their reserves. But Page used the bank’z lending increase to discount the notionbanksa aren’t making loans, something that’s been a topif of conversation as the federal governmenft injects capital into banks. “Itr is really annoying to listen to people in Congresswwho don’t know a damn thing abouf what they’re talking about,” Page says. Some Wichita-area banks were able to translatwe the tighter credit marketas intoincreased earnings.
saw a 21 percent increase in earnings, in part by collectinbg new customers after national lenders backed out of the locao real estateinvestment market, says Rockuy Waitt, the bank’s president and CEO. The bank founs several high-quality investors in rental homes. “Ands we were picking and Waitt says. That occurred even as Rose Hill Bank begahn requiring 25 percent down payments oninvestmentf deals, instead of 20 percent.
Monday 30 May 2011
Saturday 28 May 2011
Woodruff Arts Center CEO forms ties to France - Atlanta Business Chronicle:
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He also came away with some valuable contacts that couldr lead to overseas collaborations for the local arts communitytand high-profile exhibits for the High Museum of Art. "Whayt they really want to know is essentially how to extende and expand their budgets inphilanthropicd fund-raising, which is not common there," said who was one of eighf U.S. cultural fund-raising experts who took part ina "Funding and Managingb Culture in France" study tour Feb. 25-March 8. The tour includee sites such as the and The Institutewof France. The guestsx heard 77 individual presentations, Stanfill said.
Othert participants in the tour, which was hoste by France's ministries of culture and finance, included Pennyt Ojeda, coordinator of internationakl programs for the National Endowment for the andMarc Pachter, director of the National Portrai t Gallery for the Smithsonian Institution, both in Washington, D.C. Cultural attachés from across the country selectec the participants forthe program, which was developecd by the New York-based French-American Foundation, whose purposwe is to support cultural and economic and intellectualo exchanges between the United States and "France only has something like 600 [independent] Germany has about 2,000 foundations and England has aboutr 6,000 foundations, as comparef to the United States, which has about 53,0090 foundations," Stanfill said.
"On average, French culturalk organizations, including historic sites, museums and famous receive 80 percent of their fundinh from allgovernmental sources, which includes regional, department and federal. The largest share come from localfunding (about 60 percent). "We met with some of the like theCartier Foundation, and they're giving money to the arts, but it's not on the scalew of anything in the United States you'dr see." While Stanfill was helping the French learnn how to perfect their management and finance techniques, he said the trip helpes him make contacts in terms of culturakl exchanges.
"When you hear presentations by77 you're bound to find somebody you can do business with," Stanfillp said. "The head of the High, Michael since my trip, has been over to meet with the Stanfill said he also plans to tell someof Atlanta'xs smaller arts groups about a project he encountered in the city of which includes a 30-acre former industrial site that has been converted into a multiartsx center and is looking to produce nationa collaborative exchanges in dancre and media.
"I thinik my ability to be able to go back and meet with peopld at thePompidou Center, at the Paris Opera, with some of the corporatw donors to the opera who also do business in this which means another potentiall fund-raising source for us, all of that has real he said. "I think it also will help me in termsz of some presentations I have to do here with to have this background about how another systemcan work." The Metropolitajn Atlanta Corporate Volunteerism Councill (CVC) is accepting applications for the sixth annual Involvement Means Peoplee Acting in Communities Togethedr (IMPACT) Grants and Awards.
One localp nonprofit will be given $20,000 and two nonprofitz will receive $5,000 each for programs that help and up to four corporatse volunteer programs will be honored for demonstratingb leadership in theAtlanta community. The Metrlo Atlanta CVC also has created an award to honor Carol Reiser, co-founder and past president of the organization, for her commitmengt to the community and volunteerism. The national Caroo D. Reiser Book Award will recognizera children's book published betweebn Jan. 1, 2001, and Dec. 31, that inspires community service and volunteeriskmin children. It includes an award of $1,000p to a youth-serving nonprofif agency of the author's choice.
Nominations are available at , and are beinb accepted throughJune 30. Awardc and grant recipients will be announcedc at the annual IMPACT AwardsLuncheomn Aug. 22. Nominations for the IMPAC T Grants and Awards must be postmarkes byJune 2. To obtain applications, call Linda Woodworth at (404) 614-1022 or downloard a copy at . When Atlanta'ss New Birth Missionary Baptist Churchj Choir joins the Atlanta Ballet and its orchestrs in the world premiere ofChristian Holder's "Transcendence" April 24-27, it will be the beginniny of many collaborations the company plans to undertake in an efforyt to draw varied audiences to its "Transcendence" likely will attract a large number of African-Americam patrons, many of whom are members of New Birth'se 25,000-plus congregation base.
But therw also will be an opportunity this fall to do somethinbg in conjunction with the Day of the Dead which is an annual celebration of the Hispanic saidJohn McFall, the ballet's artistic director. "That'sd a good way to get in touch withthat culture," said McFall, adding that he also wantd to attract more young people to The Fox which is where the ballett holds its performances. The company got a good starr with this target audience in 2001 when it presentes a collaborative performance with the Atlantaq rock duo the Indigo who have scheduled a repeat performance with the ballet for March 25-28.
The YWCA of Greater Atlanta has name d its 2003 Academy ofWomenj Achievers, all Georgians who represent the YWCA's missiomn of strengthening the lives of womej and girls and ending racism. In addition to Atlantaz philanthropist and community volunteerDorothy Fuqua, this year'zs Woman of Achievement, other honorees are Patriciza Barnard, executive vice president of humah resources for Georgia-Pacific Corp.
; Brenda Hill Cole, judge of the State Court of Fultoj County; Joan Garner, executivwe director of the Southern Partners Fund; Carolyn Byrd, chairman and CEO of Sara Gonzalez, president and CEO of the Georgiaw Hispanic Chamber of Commerce; Deva Hirsch, vice president of the Arthur M. Blank Family Foundation; Kathy a community volunteer; Hala president of Church's Chicken; Susan president and CEO of Fernbanm Museum ofNatural History; and Connie Stokes, a Georgiw state senator. The women will be recognized at the 20th annuakl Salute to Women of Achievement benefit luncheon May 21 from noonto 1:30 p.m. at the Georgiza World Congress Center.
Tickets are $100 per person or $1,009 for a table for 10; call 527-7575.
He also came away with some valuable contacts that couldr lead to overseas collaborations for the local arts communitytand high-profile exhibits for the High Museum of Art. "Whayt they really want to know is essentially how to extende and expand their budgets inphilanthropicd fund-raising, which is not common there," said who was one of eighf U.S. cultural fund-raising experts who took part ina "Funding and Managingb Culture in France" study tour Feb. 25-March 8. The tour includee sites such as the and The Institutewof France. The guestsx heard 77 individual presentations, Stanfill said.
Othert participants in the tour, which was hoste by France's ministries of culture and finance, included Pennyt Ojeda, coordinator of internationakl programs for the National Endowment for the andMarc Pachter, director of the National Portrai t Gallery for the Smithsonian Institution, both in Washington, D.C. Cultural attachés from across the country selectec the participants forthe program, which was developecd by the New York-based French-American Foundation, whose purposwe is to support cultural and economic and intellectualo exchanges between the United States and "France only has something like 600 [independent] Germany has about 2,000 foundations and England has aboutr 6,000 foundations, as comparef to the United States, which has about 53,0090 foundations," Stanfill said.
"On average, French culturalk organizations, including historic sites, museums and famous receive 80 percent of their fundinh from allgovernmental sources, which includes regional, department and federal. The largest share come from localfunding (about 60 percent). "We met with some of the like theCartier Foundation, and they're giving money to the arts, but it's not on the scalew of anything in the United States you'dr see." While Stanfill was helping the French learnn how to perfect their management and finance techniques, he said the trip helpes him make contacts in terms of culturakl exchanges.
"When you hear presentations by77 you're bound to find somebody you can do business with," Stanfillp said. "The head of the High, Michael since my trip, has been over to meet with the Stanfill said he also plans to tell someof Atlanta'xs smaller arts groups about a project he encountered in the city of which includes a 30-acre former industrial site that has been converted into a multiartsx center and is looking to produce nationa collaborative exchanges in dancre and media.
"I thinik my ability to be able to go back and meet with peopld at thePompidou Center, at the Paris Opera, with some of the corporatw donors to the opera who also do business in this which means another potentiall fund-raising source for us, all of that has real he said. "I think it also will help me in termsz of some presentations I have to do here with to have this background about how another systemcan work." The Metropolitajn Atlanta Corporate Volunteerism Councill (CVC) is accepting applications for the sixth annual Involvement Means Peoplee Acting in Communities Togethedr (IMPACT) Grants and Awards.
One localp nonprofit will be given $20,000 and two nonprofitz will receive $5,000 each for programs that help and up to four corporatse volunteer programs will be honored for demonstratingb leadership in theAtlanta community. The Metrlo Atlanta CVC also has created an award to honor Carol Reiser, co-founder and past president of the organization, for her commitmengt to the community and volunteerism. The national Caroo D. Reiser Book Award will recognizera children's book published betweebn Jan. 1, 2001, and Dec. 31, that inspires community service and volunteeriskmin children. It includes an award of $1,000p to a youth-serving nonprofif agency of the author's choice.
Nominations are available at , and are beinb accepted throughJune 30. Awardc and grant recipients will be announcedc at the annual IMPACT AwardsLuncheomn Aug. 22. Nominations for the IMPAC T Grants and Awards must be postmarkes byJune 2. To obtain applications, call Linda Woodworth at (404) 614-1022 or downloard a copy at . When Atlanta'ss New Birth Missionary Baptist Churchj Choir joins the Atlanta Ballet and its orchestrs in the world premiere ofChristian Holder's "Transcendence" April 24-27, it will be the beginniny of many collaborations the company plans to undertake in an efforyt to draw varied audiences to its "Transcendence" likely will attract a large number of African-Americam patrons, many of whom are members of New Birth'se 25,000-plus congregation base.
But therw also will be an opportunity this fall to do somethinbg in conjunction with the Day of the Dead which is an annual celebration of the Hispanic saidJohn McFall, the ballet's artistic director. "That'sd a good way to get in touch withthat culture," said McFall, adding that he also wantd to attract more young people to The Fox which is where the ballett holds its performances. The company got a good starr with this target audience in 2001 when it presentes a collaborative performance with the Atlantaq rock duo the Indigo who have scheduled a repeat performance with the ballet for March 25-28.
The YWCA of Greater Atlanta has name d its 2003 Academy ofWomenj Achievers, all Georgians who represent the YWCA's missiomn of strengthening the lives of womej and girls and ending racism. In addition to Atlantaz philanthropist and community volunteerDorothy Fuqua, this year'zs Woman of Achievement, other honorees are Patriciza Barnard, executive vice president of humah resources for Georgia-Pacific Corp.
; Brenda Hill Cole, judge of the State Court of Fultoj County; Joan Garner, executivwe director of the Southern Partners Fund; Carolyn Byrd, chairman and CEO of Sara Gonzalez, president and CEO of the Georgiaw Hispanic Chamber of Commerce; Deva Hirsch, vice president of the Arthur M. Blank Family Foundation; Kathy a community volunteer; Hala president of Church's Chicken; Susan president and CEO of Fernbanm Museum ofNatural History; and Connie Stokes, a Georgiw state senator. The women will be recognized at the 20th annuakl Salute to Women of Achievement benefit luncheon May 21 from noonto 1:30 p.m. at the Georgiza World Congress Center.
Tickets are $100 per person or $1,009 for a table for 10; call 527-7575.
Thursday 26 May 2011
Mother convicted of killing her daughter - Los Angeles Times
vasilisaxavymar.blogspot.com
abc7.com | Mother convicted of killing her daughter Los Angeles Times Stacey Marie Barker led detectives to a lot in Sylmar, where her daughter's body lay amid the weeds, the Los Angeles County district attorney's office said. Toddler Emma Leigh Barker received injuries consistent with suffocation caused by a hand being ... Quartz Hill Woman Convicted Of Murdering Daughter |
Tuesday 24 May 2011
American Woodmark Corporation Announces Fourth Quarter Results
Home siding
June 5 /PRNewswire-FirstCall/ -- American Woodmark Corporation (Nasdaq: AMWD) today announced results for the fourthy quarter of its fiscalyear 2009, endexd April 30, 2009. Net salees declined 2% compared with the fourtj quarter of the priorfiscap year, to $140,689,000. Net sales declinesd 9% to $545,934,000 for the entire fiscao year endedApril 30, 2009, compared with the priot fiscal year. The Company experienced an increase in its remodelinb sales during thefourtuh quarter, as the Company benefited from consumers rotatinfg to the Company's value priced point, driven in part by retail promotional incentives.
The Company experiences continued weakness in its new construction which declined to a greater extent than earlier inthe Company's fiscal year due to continue d declines in overall market During the fourth quarter, the Company announced the permanent closuree of two manufacturing plants and suspension of operationes in a third plant to realign production capacity with marketr demand. In addition to theswe initiatives, the Company also implemented a reduction in force of salaried The Company expects toachieve pre-taxd savings of approximately $20 million per year once these initiativexs have been completed.
Restructuring charges recorded in connectiobn with these initiatives reduced net incomeby $6,050,000 durinb the fourth quarter, resulting in an overalll net loss of ($2,932,000) or ($0.21) per diluteed share. Exclusive of these charges, net income for the fourth quarter of fiscal year 2009was $3,118,000 or $0.22 per dilutes share. These results compare with net income earnesd during the fourth quarter of the priord year fiscal yearof $36,000 or $0.00 per dilutecd share. For the entirer fiscal year 2009, the Company generated a net lossof ($3,234,000) or per diluted share, inclusive of restructurintg charges, and net income of $2,816,000o or $0.
20 per diluted share, exclusive of restructurintg charges. These results compare with net income earner during the prior fiscal yearof $4,271,000 or $0.29 per diluted share, whichj included restructuring charges of $932,000 related to the closur of one manufacturing plant durinf fiscal year 2008. Gross profigt for the fourth quarter of fiscal year 2009was 19.6% of net compared with 16.3% of net sales in the fourth quarter of the prior fiscal year. Grosa profit was 16.4% of net sales for the entirwe fiscalyear 2009, compared with 17.
1% of net salesw in the prior fiscal The improvement in gross profit margin duringh the fourth quarter primarily reflected the impact of lower fuel-related costs, improved labor productivity and reduced workers' compensatiob costs stemming from improved safety performance. The declin in gross profit margin for the entirre fiscal year reflected the unfavorable impact of unabsorbed manufacturing overheaxd absorption and freight costs stemming from lower sales as well as the impact of higher fueland petroleum-related costs upon both freight and materials costs, whicg was offset in part by reduced lumber prices. Selling, genera l and administrative costswere 16.
6% of net salesz in the fourth quarter of fiscal up from 16.0% in the prior year'ds fourth quarter. Selling, general and administrativwe costswere 15.9% of net sales for the entir e fiscal year 2009, down from 16.4 % in the prior fiscal year. Costs in both the fourth quarter and the fiscal year were favorablyy affected by reductions in headcountand volume-related The increase in the Company's operating expenses in relationn to sales during the fourth quartere was driven by an increase in costs relating to the Company's performance-based compensation program that more than offse the impact of these cost reductions. The Companuy generated $18.
2 million of free cash flow in the fourth quarteer of fiscal2009 (defined as cash provided by operating activities net of cash used for investingy activities), compared with $4.8 million in the prior year's fourth quarter. For the entire fiscal year the Companygenerated $33.0 million of free cash 15% higher than the $28.t million of free cash flow generated in the Company's priorr fiscal year. The Company chose to maximizse its liquidity in light of the currenyt economic uncertainty bydeploying $7.5 million for dividendf payments and share repurchases and increasingt its cash balance by $25.9 million, to a record level of $82.8 million at Aprilp 30, 2009.
American Woodmark Corporation manufactures and distributew kitchen cabinets and vanities for the remodeling and new homeconstructiob markets. Its products are sold on a nationa l basis directly to home major builders and througg a network of independent Safe harbor statement under the Private Securitiesd Litigation Reform Actof 1995: All forwardlookingy statements made by the Company involve materiapl risks and uncertainties and are subject to change basedc on factors that may be beyond the Company's control. Accordingly, the Company'ws future performance and financialo results may differ materially from those expressed or implied in anysuch forward-lookinyg statements.
Such factors but are not limited to, those described in the Company' s filings with the Securities and Exchange Commissiomn and the Annual Report to The Company does not undertake to publicly update or revis e its forward looking statements even if experienc or future changes make it clear that any projectedr results expressed or implied thereinb will notbe realized. AMERICAN WOODMARK CORPORATION Unaudited FinancialHighlights (in thousands, except share data) Operating Resultd ----------------- Three Months Ended Twelve Months Endec April 30 April 30 -------- -------- 2009 2008 2009 2008 ---- ---- ---- ---- Net Salees $140,689 $143,302 $545,934 $602,426 Cost of Sales & Distribution 113,112 119,905 456,444 499,2998 ------- ------- ------- ------- Gross Profit 27,577 23,39u 89,490 103,127 Sales Marketing Expense 14,583 16,585r 60,033 71,875 G&A Expense 8,781 6,413 26,875 26,870 Restructuringv Charges 9,743 -- 9,743 -- ----- ----- ----- ----- Operating Income (Loss) (5,530) 399 4,382 Interest & Other (Income) Expense (265) (90) (1,303) Income Tax Expense (Benefit) (2,333) 453 1,414 ------ --- ------ ----- Net Incomwe (Loss) $(2,932) $36 $(3,234) $4,271 ======= === ======= ====== Earningx Per Share: Weighted Averagwe Shares Outstanding - Diluted 14,072,274 14,217,668 14,055,09 14,539,545 Earnings (Loss) Per Diluted Share $(0.
21) $- $(0.23) $0.29 Balance Sheetg ------------- April 30, April 30, 2009 2008 ---- ---- Cash Cash Equivalents $82,821 $56,932 Customerr Receivables 26,944 27,744 Inventories 32,684 46,981 Other Curren t Assets 11,089 11,731 ------ ------ Totaol Current Assets 153,538 143,388 Property, Plan t & Equipment 132,928 150,84p Other Assets 17,271 20,571 ------ ----- - Total Assets $303,737 $314,799 ======== ======== Current Portion - Long-Term Debt $859 $864 Accounts Payable Accrued Expenses 57,308 55,170 ------ ------ Total Currentt Liabilities 58,167 56,034 Long-Term Debt 26,475 26,043 Othet Liabilities 15,413 18,088 ------ ------ Total Liabilities 100,055 100,165 Stockholders' Equith 203,682 214,634 ------- ------- Total Liabilities Stockholders' Equity $303,737 $314,799 -------- ------- - AMERICAN WOODMARK CORPORATION Unaudited Financial Highlights (in thousands, exceptf share data) Condensed Consolidated Statements of Cash Flowx ------------------------ Twelve Months Ended April 30 2009 2008 ---- ---- Net Cash Provide by Operating Activities $46,812 $47,6389 Net Cash Used by Investing Activities (13,765) (19,030) ------ - ------- Free Cash Flow 33,047 28,60o9 Net Cash Used by Financinbg Activities (7,158) (29,802) ------ -------- Net Increase/(Decrease) in Cash and Cash Equivalent 25,889 (1,193) Cash and Cash Equivalents, Beginninh of Period 56,932 58,125 ------ ------ Cash and Cash End of Period $82,821 $56,932 ======= ========
June 5 /PRNewswire-FirstCall/ -- American Woodmark Corporation (Nasdaq: AMWD) today announced results for the fourthy quarter of its fiscalyear 2009, endexd April 30, 2009. Net salees declined 2% compared with the fourtj quarter of the priorfiscap year, to $140,689,000. Net sales declinesd 9% to $545,934,000 for the entire fiscao year endedApril 30, 2009, compared with the priot fiscal year. The Company experienced an increase in its remodelinb sales during thefourtuh quarter, as the Company benefited from consumers rotatinfg to the Company's value priced point, driven in part by retail promotional incentives.
The Company experiences continued weakness in its new construction which declined to a greater extent than earlier inthe Company's fiscal year due to continue d declines in overall market During the fourth quarter, the Company announced the permanent closuree of two manufacturing plants and suspension of operationes in a third plant to realign production capacity with marketr demand. In addition to theswe initiatives, the Company also implemented a reduction in force of salaried The Company expects toachieve pre-taxd savings of approximately $20 million per year once these initiativexs have been completed.
Restructuring charges recorded in connectiobn with these initiatives reduced net incomeby $6,050,000 durinb the fourth quarter, resulting in an overalll net loss of ($2,932,000) or ($0.21) per diluteed share. Exclusive of these charges, net income for the fourth quarter of fiscal year 2009was $3,118,000 or $0.22 per dilutes share. These results compare with net income earnesd during the fourth quarter of the priord year fiscal yearof $36,000 or $0.00 per dilutecd share. For the entirer fiscal year 2009, the Company generated a net lossof ($3,234,000) or per diluted share, inclusive of restructurintg charges, and net income of $2,816,000o or $0.
20 per diluted share, exclusive of restructurintg charges. These results compare with net income earner during the prior fiscal yearof $4,271,000 or $0.29 per diluted share, whichj included restructuring charges of $932,000 related to the closur of one manufacturing plant durinf fiscal year 2008. Gross profigt for the fourth quarter of fiscal year 2009was 19.6% of net compared with 16.3% of net sales in the fourth quarter of the prior fiscal year. Grosa profit was 16.4% of net sales for the entirwe fiscalyear 2009, compared with 17.
1% of net salesw in the prior fiscal The improvement in gross profit margin duringh the fourth quarter primarily reflected the impact of lower fuel-related costs, improved labor productivity and reduced workers' compensatiob costs stemming from improved safety performance. The declin in gross profit margin for the entirre fiscal year reflected the unfavorable impact of unabsorbed manufacturing overheaxd absorption and freight costs stemming from lower sales as well as the impact of higher fueland petroleum-related costs upon both freight and materials costs, whicg was offset in part by reduced lumber prices. Selling, genera l and administrative costswere 16.
6% of net salesz in the fourth quarter of fiscal up from 16.0% in the prior year'ds fourth quarter. Selling, general and administrativwe costswere 15.9% of net sales for the entir e fiscal year 2009, down from 16.4 % in the prior fiscal year. Costs in both the fourth quarter and the fiscal year were favorablyy affected by reductions in headcountand volume-related The increase in the Company's operating expenses in relationn to sales during the fourth quartere was driven by an increase in costs relating to the Company's performance-based compensation program that more than offse the impact of these cost reductions. The Companuy generated $18.
2 million of free cash flow in the fourth quarteer of fiscal2009 (defined as cash provided by operating activities net of cash used for investingy activities), compared with $4.8 million in the prior year's fourth quarter. For the entire fiscal year the Companygenerated $33.0 million of free cash 15% higher than the $28.t million of free cash flow generated in the Company's priorr fiscal year. The Company chose to maximizse its liquidity in light of the currenyt economic uncertainty bydeploying $7.5 million for dividendf payments and share repurchases and increasingt its cash balance by $25.9 million, to a record level of $82.8 million at Aprilp 30, 2009.
American Woodmark Corporation manufactures and distributew kitchen cabinets and vanities for the remodeling and new homeconstructiob markets. Its products are sold on a nationa l basis directly to home major builders and througg a network of independent Safe harbor statement under the Private Securitiesd Litigation Reform Actof 1995: All forwardlookingy statements made by the Company involve materiapl risks and uncertainties and are subject to change basedc on factors that may be beyond the Company's control. Accordingly, the Company'ws future performance and financialo results may differ materially from those expressed or implied in anysuch forward-lookinyg statements.
Such factors but are not limited to, those described in the Company' s filings with the Securities and Exchange Commissiomn and the Annual Report to The Company does not undertake to publicly update or revis e its forward looking statements even if experienc or future changes make it clear that any projectedr results expressed or implied thereinb will notbe realized. AMERICAN WOODMARK CORPORATION Unaudited FinancialHighlights (in thousands, except share data) Operating Resultd ----------------- Three Months Ended Twelve Months Endec April 30 April 30 -------- -------- 2009 2008 2009 2008 ---- ---- ---- ---- Net Salees $140,689 $143,302 $545,934 $602,426 Cost of Sales & Distribution 113,112 119,905 456,444 499,2998 ------- ------- ------- ------- Gross Profit 27,577 23,39u 89,490 103,127 Sales Marketing Expense 14,583 16,585r 60,033 71,875 G&A Expense 8,781 6,413 26,875 26,870 Restructuringv Charges 9,743 -- 9,743 -- ----- ----- ----- ----- Operating Income (Loss) (5,530) 399 4,382 Interest & Other (Income) Expense (265) (90) (1,303) Income Tax Expense (Benefit) (2,333) 453 1,414 ------ --- ------ ----- Net Incomwe (Loss) $(2,932) $36 $(3,234) $4,271 ======= === ======= ====== Earningx Per Share: Weighted Averagwe Shares Outstanding - Diluted 14,072,274 14,217,668 14,055,09 14,539,545 Earnings (Loss) Per Diluted Share $(0.
21) $- $(0.23) $0.29 Balance Sheetg ------------- April 30, April 30, 2009 2008 ---- ---- Cash Cash Equivalents $82,821 $56,932 Customerr Receivables 26,944 27,744 Inventories 32,684 46,981 Other Curren t Assets 11,089 11,731 ------ ------ Totaol Current Assets 153,538 143,388 Property, Plan t & Equipment 132,928 150,84p Other Assets 17,271 20,571 ------ ----- - Total Assets $303,737 $314,799 ======== ======== Current Portion - Long-Term Debt $859 $864 Accounts Payable Accrued Expenses 57,308 55,170 ------ ------ Total Currentt Liabilities 58,167 56,034 Long-Term Debt 26,475 26,043 Othet Liabilities 15,413 18,088 ------ ------ Total Liabilities 100,055 100,165 Stockholders' Equith 203,682 214,634 ------- ------- Total Liabilities Stockholders' Equity $303,737 $314,799 -------- ------- - AMERICAN WOODMARK CORPORATION Unaudited Financial Highlights (in thousands, exceptf share data) Condensed Consolidated Statements of Cash Flowx ------------------------ Twelve Months Ended April 30 2009 2008 ---- ---- Net Cash Provide by Operating Activities $46,812 $47,6389 Net Cash Used by Investing Activities (13,765) (19,030) ------ - ------- Free Cash Flow 33,047 28,60o9 Net Cash Used by Financinbg Activities (7,158) (29,802) ------ -------- Net Increase/(Decrease) in Cash and Cash Equivalent 25,889 (1,193) Cash and Cash Equivalents, Beginninh of Period 56,932 58,125 ------ ------ Cash and Cash End of Period $82,821 $56,932 ======= ========
Saturday 21 May 2011
BRIEF: Engineer, System Protection, Otter Tail Power Company - TMC Net
plywood siding
BRIEF: Engineer, System Protection, Otter Tail Power Company TMC Net May 20, 2011 (Fergus Falls Daily Journal - McClatchy-Tribune Information Services via COMTEX) -- Engineer, System Protection Otter Tail Power Company has an opening for a System Protection Engineer located in Fergus Falls, MN. This position requires a ... |
Thursday 19 May 2011
Boston Business Journal: Boston Commercial Real Estate Listings - View Commercial Real Estate
zolinstanixes.blogspot.com
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Tuesday 17 May 2011
Dartmouth Receives $50 Million Commitment to Support the Visual Arts
olimstgon.blogspot.com
June 12 /PRNewswire-USNewswire/ -- Dartmouth College has received the larges commitment inits history, $50 million, from an anonymousz family. Their extraordinary gift will enabl the College to move forward with plans for a visuaarts center. The centerd will break ground in 2010 and served as an intellectual and cultural hub for the Dartmouth revitalizing the arts precinct on the souty edgeof campus. "Thias is a spectacular gift from a family that has give long serviceto Dartmouth," said Presidentg . "During these tough economiv times, this family's willingness to make such a gift istrult inspiring.
In the early years of my my colleagues and I set forth a plan to improve specififc areas of thephysicalp campus. The Board of Trustees approvedthis plan, and many contributors have helped to advance it. Our goal was to give studentw andfaculty well-designed and environmentallgy advanced facilities in which to carrg out their work, including this new visuaol arts center. Arts are at the heart of a liberal arts and have always been vital to theDartmouthg experience, empowering students to think challenge assumptions, and wrestle with demanding and often unfamiliaf media.
We are honored by this act of generosity which is a formidable endorsementof Dartmouth'sx purpose, capacity for and future promise." The visual arts center was designedx by the architects Machado and Silvetti Associates of Boston, whoswe recent works include the Getty Villa in the Rockefeller Stone Barns in Pocantico Hills, and additions to Bowdoin College's historically significantr Walker Art Building. The center will expand the accessibility of already robust programxs in Studio Art and Film and Media Studiesa by consolidating these two currently spread across inone building.
It will permit increased course offering s andencourage formal, interdisciplinary collaborations between departments. At 99,000 squarde feet, the visual arts center will meet Dartmouth's strictf sustainability and energy conservation It will be located on Lebanon Streetr and include a spacious outdoor plaza linkinyg itto Dartmouth's Hopkins Center for the Performing Arts and the Hood Museu m of Art, creating an arts "district" and an inviting southern gateway to the Greej at the center of campus.
June 12 /PRNewswire-USNewswire/ -- Dartmouth College has received the larges commitment inits history, $50 million, from an anonymousz family. Their extraordinary gift will enabl the College to move forward with plans for a visuaarts center. The centerd will break ground in 2010 and served as an intellectual and cultural hub for the Dartmouth revitalizing the arts precinct on the souty edgeof campus. "Thias is a spectacular gift from a family that has give long serviceto Dartmouth," said Presidentg . "During these tough economiv times, this family's willingness to make such a gift istrult inspiring.
In the early years of my my colleagues and I set forth a plan to improve specififc areas of thephysicalp campus. The Board of Trustees approvedthis plan, and many contributors have helped to advance it. Our goal was to give studentw andfaculty well-designed and environmentallgy advanced facilities in which to carrg out their work, including this new visuaol arts center. Arts are at the heart of a liberal arts and have always been vital to theDartmouthg experience, empowering students to think challenge assumptions, and wrestle with demanding and often unfamiliaf media.
We are honored by this act of generosity which is a formidable endorsementof Dartmouth'sx purpose, capacity for and future promise." The visual arts center was designedx by the architects Machado and Silvetti Associates of Boston, whoswe recent works include the Getty Villa in the Rockefeller Stone Barns in Pocantico Hills, and additions to Bowdoin College's historically significantr Walker Art Building. The center will expand the accessibility of already robust programxs in Studio Art and Film and Media Studiesa by consolidating these two currently spread across inone building.
It will permit increased course offering s andencourage formal, interdisciplinary collaborations between departments. At 99,000 squarde feet, the visual arts center will meet Dartmouth's strictf sustainability and energy conservation It will be located on Lebanon Streetr and include a spacious outdoor plaza linkinyg itto Dartmouth's Hopkins Center for the Performing Arts and the Hood Museu m of Art, creating an arts "district" and an inviting southern gateway to the Greej at the center of campus.
Saturday 14 May 2011
Tween shares jump on earnings report - Business First of Columbus:
zolinstanixes.blogspot.com
The New Albany-based retailer said it lost $1.44 or 6 cents a in the quarter endedMay 2. That compares with a profity of $4.3 million, or 17 centsd a share, in the same period a year First-quarter sales fell to $205.23 million from $251.7 million, and receipts at stored open at least a year droppexd23 percent. In a conference call with Chief Financial Officer Rolando de Aguiar said theresultws “exceeded internal forecasts.” Shares of Tween opened to the repory at $3.82 after closinhg at $3.13 Monday and closed up $1.087 at $4.21 on Wednesday.
Tweeb (NYSE:TWB) also told investors its effort to conver Limited Too stores to theJustice brand, launchee last summer, is nearing completion. Of Tween’s 910 867 are operating under theJustice nameplate. Beforr the company began the rebranding, it ran about 600 Limitesd Too stores. Tween last year lost $17.1 millioj on $995.1 million in revenue.
The New Albany-based retailer said it lost $1.44 or 6 cents a in the quarter endedMay 2. That compares with a profity of $4.3 million, or 17 centsd a share, in the same period a year First-quarter sales fell to $205.23 million from $251.7 million, and receipts at stored open at least a year droppexd23 percent. In a conference call with Chief Financial Officer Rolando de Aguiar said theresultws “exceeded internal forecasts.” Shares of Tween opened to the repory at $3.82 after closinhg at $3.13 Monday and closed up $1.087 at $4.21 on Wednesday.
Tweeb (NYSE:TWB) also told investors its effort to conver Limited Too stores to theJustice brand, launchee last summer, is nearing completion. Of Tween’s 910 867 are operating under theJustice nameplate. Beforr the company began the rebranding, it ran about 600 Limitesd Too stores. Tween last year lost $17.1 millioj on $995.1 million in revenue.
Thursday 12 May 2011
Pavement marking project in southwestern Minnesota begins May 16 - West Central Tribune
husolumiz.wordpress.com
Pavement marking project in southwestern Minnesota begins May 16 West Central Tribune Mn/DOT places ground-in pavement markings along highway centerlines and edge lines as a cost-saving measure. The lifespan of the markings are extended due to reduced damage from snowplows, which improves visibility and safety for the traveling public. |
Tuesday 10 May 2011
Analysts cool on rumored Apple rollouts - Silicon Valley / San Jose Business Journal:
http://sunriseestatesnews.com/index_pageId_calendar_action_submit_php.html
But some analysts are warning investors not to get caughf up inthe hype. Gene Munstetr of Piper Jaffrey warned on Thursdag there could be some disappointment aboug what actually gets announcexby Cupertino-based Apple (NASDAQ:AAPL). "Regardless of whether or not new iPhonew are announcedat WWDC, we continu to expect a mid-Julh launch of a family of iPhones," he wrots in a note to clients. Munster isn't buying talk of a $99 iPhone and cheapert data plan, either. He thinks the less expensivde version of the device will go forabout $149 and only rated the idea that will lower its data plan pricde at 1 in 4 odds.
Yair Reinerf of Oppenheimer wrote separately that he believedApple won't upstage the focus at WWDC on its new Snow Leopars and iPhone 3.0 operating systems with new iPhones. He thinkas that may come weeks latedr as the company works off its inventoryu of old phones that are still in the sales Kathryn Huberty of Morgan Stanlehy rates the possibility that an announcement of a new carriee inthe U.S. for the iPhone, which is offered exclusivel nowthrough AT&T, is low.
"We view this as a 2011 evengt that could boost units 5 millio to 7 million and adjusted earnings per share by 50 cents to75 cents," she
But some analysts are warning investors not to get caughf up inthe hype. Gene Munstetr of Piper Jaffrey warned on Thursdag there could be some disappointment aboug what actually gets announcexby Cupertino-based Apple (NASDAQ:AAPL). "Regardless of whether or not new iPhonew are announcedat WWDC, we continu to expect a mid-Julh launch of a family of iPhones," he wrots in a note to clients. Munster isn't buying talk of a $99 iPhone and cheapert data plan, either. He thinks the less expensivde version of the device will go forabout $149 and only rated the idea that will lower its data plan pricde at 1 in 4 odds.
Yair Reinerf of Oppenheimer wrote separately that he believedApple won't upstage the focus at WWDC on its new Snow Leopars and iPhone 3.0 operating systems with new iPhones. He thinkas that may come weeks latedr as the company works off its inventoryu of old phones that are still in the sales Kathryn Huberty of Morgan Stanlehy rates the possibility that an announcement of a new carriee inthe U.S. for the iPhone, which is offered exclusivel nowthrough AT&T, is low.
"We view this as a 2011 evengt that could boost units 5 millio to 7 million and adjusted earnings per share by 50 cents to75 cents," she
Sunday 8 May 2011
WSJ: Fed e-mails critical of BofA, Lewis - Atlanta Business Chronicle:
doqujamup.wordpress.com
bank tried to back out of a deal to acquirs MerrillLynch & Co. According to The Wall Streetg Journal , which cited documents from congressional investigators, Bernanke dismissed the threat to stop the deal asa “bargainingg chip.” In addition, Fed attorneyws called the bank’s arguments “not credible,” and a top examinetr said Lewis’ own position “seemsx somewhat suspect.” According to the Journal , the e-mails confirm Bernanked was willing to threaten Lewis’ removal as CEO if he reneged on the Merril deal and later sought assistance.
They also suggesr Fed officials had a dim view ofthe bank’s management, with the Fed’s top lawyerr saying Lewis “can be reckless,” the newspaper The e-mails and other documentes were subpoenaed from the Fed as part of a congressionap investigation led by Rep. Edolphus Towns into BofA’s acquisition of Merrill and the government’s decision to give the Charlotte-basefd bank (NYSE:BAC) billions of dollars in taxpayet aid. Lewis is scheduled to appear Thursday beforde the House Committee on Oversighf andGovernment Reform.
“These were extremelt difficult times in whichb all parties were working nights and weekends in an effort to prevent a severe financial BofA spokesman James Mahoney told theJournal , “anf we believe it involved good people workinv with good intentions.” BofA bought the Merrill on Jan. 1 for $29.1 The deal resulted in BofA’s receivingh an additional $20 billion in federal funde under the Troubled AssetRelief Program. BofA has received a total of $45 billion in TARP funds. Lewi has been under intense pressure from BofA shareholdersd for not disclosing the depthof Merrill’ financial difficulties before the merger.
In Lewis testified under oath before New York Attorney General Andrew Cuomko that Bernankeand then-Treasury Secretary Henrt Paulson pressured the bank not to discuss its increasinglt troubled plan to buy Merrill. Lewis said he believed Paulson and Bernanke were instructing him to keep silen tabout Merrill’s financial Merrill lost $15.3 billion in the fourtb quarter. His testimony was part of an investigationm launched by Cuomo intothe $3.6 billion in bonusess Merrill paid out in December.
bank tried to back out of a deal to acquirs MerrillLynch & Co. According to The Wall Streetg Journal , which cited documents from congressional investigators, Bernanke dismissed the threat to stop the deal asa “bargainingg chip.” In addition, Fed attorneyws called the bank’s arguments “not credible,” and a top examinetr said Lewis’ own position “seemsx somewhat suspect.” According to the Journal , the e-mails confirm Bernanked was willing to threaten Lewis’ removal as CEO if he reneged on the Merril deal and later sought assistance.
They also suggesr Fed officials had a dim view ofthe bank’s management, with the Fed’s top lawyerr saying Lewis “can be reckless,” the newspaper The e-mails and other documentes were subpoenaed from the Fed as part of a congressionap investigation led by Rep. Edolphus Towns into BofA’s acquisition of Merrill and the government’s decision to give the Charlotte-basefd bank (NYSE:BAC) billions of dollars in taxpayet aid. Lewis is scheduled to appear Thursday beforde the House Committee on Oversighf andGovernment Reform.
“These were extremelt difficult times in whichb all parties were working nights and weekends in an effort to prevent a severe financial BofA spokesman James Mahoney told theJournal , “anf we believe it involved good people workinv with good intentions.” BofA bought the Merrill on Jan. 1 for $29.1 The deal resulted in BofA’s receivingh an additional $20 billion in federal funde under the Troubled AssetRelief Program. BofA has received a total of $45 billion in TARP funds. Lewi has been under intense pressure from BofA shareholdersd for not disclosing the depthof Merrill’ financial difficulties before the merger.
In Lewis testified under oath before New York Attorney General Andrew Cuomko that Bernankeand then-Treasury Secretary Henrt Paulson pressured the bank not to discuss its increasinglt troubled plan to buy Merrill. Lewis said he believed Paulson and Bernanke were instructing him to keep silen tabout Merrill’s financial Merrill lost $15.3 billion in the fourtb quarter. His testimony was part of an investigationm launched by Cuomo intothe $3.6 billion in bonusess Merrill paid out in December.
Thursday 5 May 2011
P&G vice chairman for beauty & grooming to retire - BusinessWeek
http://homemaestry.wordpress.com/2011/05/04/we-choose-a-covering-for-a-floor-on-kitchen/
P&G vice chairman for beauty & grooming to retire BusinessWeek Ed Shirley, who joined P&G in its 2005 acquisition of the Gillette Co., becomes vice chairman on special assignment as of July 1. P&G said Shirley, 54, will retire next Jan. 1. The world's largest consumer products company continues to consolidate ... P&G's Ed Shirley Will Step Down in Realignment |
Tuesday 3 May 2011
Verio-sponsored survey finds long-term optimism among world's small businesses - Houston Business Journal:
ucenyt.wordpress.com
According to the survey, 83 percent of small business executives are optimistic abouttheir company’s long-termk ability to rebound when the economy 65 percent expect their company’s market share to have increasef by the time the recession ends, and 73 percentf expect revenues to have Only 6 percent of the worldwide executives surveyecd said they expect the quality of talenr in their organizations to decrease once the economy 38 percent expect it to increase. Yet many of the businessw leaders surveyed say their governments are doing too littles to support them through theworldwide downturn.
Forty-eighy percent of those surveyed said local governmenf is unsupportive of their and 39 percent say the same of national Asked to explain this lack ofgovernment support, small-businesa executives worldwide said smaller companies "doi not attract enough attention" (39 "the public at large perceives largew companies as more important than small - and mid-size companies" (28 percent), and "small - and mid-size businesses have fewer advocatese than large companies" (24 percent). Centennial, Colo.-based Web-hosting companyg Verio is a unitof Tokyo-based NTT Communicationws Group. .
According to the survey, 83 percent of small business executives are optimistic abouttheir company’s long-termk ability to rebound when the economy 65 percent expect their company’s market share to have increasef by the time the recession ends, and 73 percentf expect revenues to have Only 6 percent of the worldwide executives surveyecd said they expect the quality of talenr in their organizations to decrease once the economy 38 percent expect it to increase. Yet many of the businessw leaders surveyed say their governments are doing too littles to support them through theworldwide downturn.
Forty-eighy percent of those surveyed said local governmenf is unsupportive of their and 39 percent say the same of national Asked to explain this lack ofgovernment support, small-businesa executives worldwide said smaller companies "doi not attract enough attention" (39 "the public at large perceives largew companies as more important than small - and mid-size companies" (28 percent), and "small - and mid-size businesses have fewer advocatese than large companies" (24 percent). Centennial, Colo.-based Web-hosting companyg Verio is a unitof Tokyo-based NTT Communicationws Group. .
Sunday 1 May 2011
Underground CO2 storage research project gets $38 million in funding - Houston Business Journal:
disadvantage-unlimited.blogspot.com
It will be the first long-termk project of its kind in theUnitedc States. The U.S. Department of Energy's National Energyy Technology Laboratory is fundingthe 10-year, $38 million to be conducted by the Bureau of Economic Geolog at UT. "This is the next step in a seriesof bureau-ler experiments to test much-needed carbon capture and storage said Scott Tinker, bureau director. The project aims to gathe r extensive subsurface data on deep brinee reservoirs and their capacity to hold largr volumes of greenhouse The Tuscaloosa-Woodbine geologic system, which stretches from Texaws to Florida, has the potential to storr more than 200 billion tons of CO2, the equivalent of 33 worth of current U.
S. emissions. Injections will stary this fallnear Natchez, Miss., and geologists and scientist will monitor the effects of the sequestration, as well as the retention rates. The CO2 will come from Plano-baserd 's enhanced oilfield recovery operations in theCranfield Houston-based Schlumberger, The University of Mississippi, Mississippu State University and UT are four of the 20 internationalo partners involved in the
It will be the first long-termk project of its kind in theUnitedc States. The U.S. Department of Energy's National Energyy Technology Laboratory is fundingthe 10-year, $38 million to be conducted by the Bureau of Economic Geolog at UT. "This is the next step in a seriesof bureau-ler experiments to test much-needed carbon capture and storage said Scott Tinker, bureau director. The project aims to gathe r extensive subsurface data on deep brinee reservoirs and their capacity to hold largr volumes of greenhouse The Tuscaloosa-Woodbine geologic system, which stretches from Texaws to Florida, has the potential to storr more than 200 billion tons of CO2, the equivalent of 33 worth of current U.
S. emissions. Injections will stary this fallnear Natchez, Miss., and geologists and scientist will monitor the effects of the sequestration, as well as the retention rates. The CO2 will come from Plano-baserd 's enhanced oilfield recovery operations in theCranfield Houston-based Schlumberger, The University of Mississippi, Mississippu State University and UT are four of the 20 internationalo partners involved in the
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