Thursday, August 6, 1998
Jacor Communications Inc., which owns the third-largest group of radio stations in the nation, said Wednesday that its second-quarter earnings beat analysts' estimates, rising 22 percent on advertising gains.
The Covington-based owner of 204 radio stations said net income rose to $5 million, or 9 cents a diluted share, from $4.1 million, or 10 cents, a year earlier, including a $6.1 million gain from the sale of investment securities. The company didn't provide share data for a year ago before the gain.
Second-quarter revenue rose 36 percent to a record $183.8 million from $135.6 million.
Joseph Co. completes three Louisville deals
David J. Joseph Co., a Cincinnati-based scrap metal processor and broker, has completed the purchase of three Louisville metal recycling operations and formed River Metals Recycling LLC, based in Northern Kentucky.
Joseph Co. acquired Klempner Brothers scrap yard in Louisville and River City Shredding and River City Baling, two processors owned jointly by the Klempner and the David Blue families.
Terms of the cash transaction weren't disclosed.
The Louisville operations will be combined with Joseph Co.'s Henderson and Newport scrap processing operations into the newly formed River Metals Recycling. Alan J. Crouch, a Joseph Co. executive, is president and general manager of the new company.
Interlott revenue up, but earnings drop in 2Q
Interlott Technologies Inc., the Blue Ash-based maker of vending machines for the lotteries, telecommunications and financial services markets, reported record revenue but lower earnings for the second quarter.
The company said net income for the three months ended June 30 slipped to $629,504, or 19 cents a share, from $777,247, or 24 cents a share, last year. The company said the year-to-year comparisons suffered because of exceptionally profitable sales in the second quarter last year.
Revenue reached a record $7.3 million, vs. $6.9 million a year earlier.
The company also said Dennis W. Blazer, vice president of finance at Plastic Moldings Corp., has been named Interlott's chief financial officer. He succeeds Jerome Cain, who has been named director of strategic planning and development.
Toyotomi's Ky. plant to be its 1st outside Japan
Toyotomi Kiko Co., which produces aftermarket body parts of Toyota vehicles, Wednesday said it will build its first plant outside Japan, in Springfield, Ky.
The $33 million project on 88 acres in the Springfield Industrial Park will employ 75 people when it begins operation in early 2000. The Kentucky stamping and assembly operation, known as Toyotomi America, has received preliminary approval for tax credits from the Kentucky Economic Development Finance Authority.
SDRC gets $1 million order from Victaulic
Structural Dynamics Research Corp. Wednesday said it received an order valued at $1 million from Victaulic Co. of America for its I-DEAS design automation software and services.
Victaulic, based in Easton, Pa., is a supplier of industrial piping systems. The company said it would use SDRC's software as the design standard in its four major divisions: research and development, design, manufacturing and fire safety.
