Friday, November 12, 1999
TRISTATE BUSINESS SUMMARY
GE, French partner win $200M engine orders
GE Aircraft Engines and Snecma, its French partner, have won firm engine orders valued at $200 million to supply CFM56-5 engines for 21 Airbus Industrie A319 aircraft ordered by Frontier Airlines of Denver.
Frontier signed an agreement to lease 15 of the CFM56-powered jetliners from GE Capital Aviation Services, the aircraft leasing arm of General Electric Co.
Also, the airline has switched to CFM56 engines on six A319s it agreed to buy from Airbus last week. Initially, Frontier planned to power those jets with IAE's V2500 engines, but to maintain fleet commonality will switch to the CFM56 engines. Aircraft deliveries are to start in 2001.
Kendle revenues reach record high in 3rd quarter
Kendle International Inc. said Thursday revenues reached record highs in the third quarter, although earnings were down for the second consecutive quarter.
The Cincinnati contract research organization for pharmaceutical and biotechnology companies said revenues for the quarter rose about 31 percent to $29.9 million, compared with revenues of $22.9 million in the same period a year ago.
Net income was $1.7 million, or 14 cents a share, compared with net income of $2 million, or 18 cents a share, last year.
Retiring bank president to lead Second National
Richard L. Blossom, named president and chief executive at First National Bank of Southwestern Ohio almost a year ago, will step down to take the reins at another Ohio bank.
Mr. Blossom said Thursday he will retire Dec. 3 from First National Bank, the lead bank of Hamilton's First Financial Bancorp. Named to that post in December, Mr. Blossom played a key role in the company's loan growth and higher profitability.
Upon his retirement, he will be become president and chief executive at Second National Bank, a $1.55 billion asset bank with 36 branches in northeastern Ohio.
Ohio Casualty Corp. takes hurricane loss
Ohio Casualty Corp. suffered a loss in third-quarter profits because of damage caused by Hurricane Floyd.
The Hamilton property and casualty insurer had a net loss of $6.9 million, or 11 cents a share, compared with earnings of $23.2 million, or 35 cents a share, during 1998's third quarter.
The company said the hurricane cost it about $20.2 million in catastrophe losses, up from $12.7 million from a year ago.
But Ohio Casualty said quarterly premiums from its property and casualty unit were $390 million, up 20 percent from last year.
Cintas recognized for earnings growth
Cintas Corp., the Mason uniform supplier with 30 years of sales and earnings growth, has won two honors recognizing the achievement.
The Staton Institute, a Charlotte, N.C., investment training company, has included Cintas in its directory, America's Finest Companies, recognizing companies with at least 10 consecutive years of higher earnings or dividends. The 1999 edition of Moody's Handbook of Dividend Achievers, which recognizes 10 consecutive years of dividend hikes, also included Cintas.
Cintas ranked 15th among the 334 companies tracked by Moody's. On a compound basis, Cintas' annual dividend has increased 23.6 percent in the past decade.
Starbucks' success jolts P&G to act
Stadium to carry 5/3 name
Ball Furniture liquidation wrapping up
Delta-Comair lawsuit likely to be settled
HMO keeps last say on therapy
Millions lost to druggists' shorting
Women hit walls on some levels
No account? No cash from ATMs
TRISTATE BUSINESS SUMMARY
INDUSTRY NOTES: MANUFACTURING
PEOPLE ON THE MOVE
TRISTATE MARKET SPOTLIGHT
