Tuesday, July 03, 2001

Tristate Summary

Chemed foresees earnings drop

        Cincinnati's Chemed Corp. said Monday its second-quarter sales and earnings will be lower than previously expected mainly because of lower sales from its Roto-Rooter Inc. unit.

        The company said diluted earnings per share from continuing operations before capital gains will be in the range of 32 to 33 cents a share for the just-completed quarter, versus 50 cents in the same period last year.

        Chemed also said it expects full-year earnings from continuing operations before capital gains will be below last year. Chemed will report second-quarter results July 19.

Fund acquires Totes-Isotoner

               A San Francisco-based private equity fund has completed its previously disclosed acquisition of West Chester-based Totes-Isotoner Corp. for an undisclosed price.

        A spokesman said the acquisition by Swander Pace Capital, which also owns Mrs. Fields Cookies, the maker of Cider Jack Brand drinks and a mail-order firm for action sports products, would have no effect on Totes' local operations, which employ 500, or its management.

        The marketer of gloves, slippers and umbrellas was owned by Boston's Bain Capital Inc., which acquired Aris Isotoner from Sara Lee Corp. in 1997 and subsequently merged it with Totes, which it purchased in 1994 from Bradford Phillips.

Huffy workers go on strike

               Workers at a division of Huffy Corp., the maker of bicycles and scooters, went on strike Monday after rejecting an offer to replace an expired three-year contract, the company said.

        The work stoppage was declared by 127 members of the local International Association of Machinists and Aerospace Workers, part of AFL-CIO, at a Huffy Sports Co. factory in Sussex, Wis., outside Milwaukee.

        A spokesman for Huffy, based in Miamisburg, said the factory was being staffed by management to ensure uninterrupted service.

        — From staff and wire reports


Tough times ahead for Comair
For pilots, strike was for respect
Milacron sales drop 20 percent
Comet is next out at P&G
Holiday makes big impact on some companies
EU panel votes today on GE deal
Bigg's says employees are happy without union
Consumer spending rises 0.5 percent
Marriage licenses come with product samples
Morning Memo
- Tristate Summary
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