Saturday, April 07, 2001
Tristate Business Summary
Hillenbrand beats expectations
Record hospital bed and funeral insurance revenues helped Hillenbrand Industries Inc. of Batesville, Ind., report fiscal first-quarter earnings of 61 cents before restructuring charges, a penny above the consensus of analysts.
Net income including the restructuring charge was $25 million in the latest quarter, down from $36 million a year ago.
Total revenues increased 2 percent to $525 million from $514 million a year ago.
Bardes Corp. consolidates
The Bardes Corp., which owns Madisonville-based Ilsco Corp., has announced that Merrilyn Bardes and her family have consolidated their ownership of the privately held company by acquiring the stock held by her sister, Brittain Bardes Cudlip and her family.
The company said consolidation of ownership in the hands of Merrilyn Bardes and her family would have no effect on operations of Ilsco.
Federated streamlines unit
Cincinnati's Federated Deparment Stores said Friday that it's combining the catalog and Web site of Bloomingdale's, its tony New York-based branch, into a new division called Bloomingdale's Direct.
The move will reduce redundancies and streamline operations, the company said. Federated named Franz Weiglein, formerly of Lands' End Inc., as president of the unit.
Convergys signs software deal
Cincinnati's Convergys Corp. has signed a five-year agreement to supply its billing and customer-care software to RCN Corp., a Princeton, N.Y.-based provider of local, long distance, cable and high-speed Internet service.
Financial terms weren't disclosed. RCN has more than 1 million customers in Boston, New York, Philadelphia, Chicago, San Francisco and Washington, D.C.
— From staff reports
Computer-training firm closes
Jobless rate reaches 4.3% for March
P&G struggles to regain Crest's toothpaste lead
Largest Calif. utility is broke
Alternative Minimum Tax could cost you
Alluring PT Cruiser flirts with a ragtop
Firstar Center wants lawsuit considered
HIGGINS: Personal finance
Mattel shuts U.S. plant
Savvy strategies
Your tax questions
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