BIZWATCH : MARKETS.MARKET LOGIC: The Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. stumbled a bit Thursday Thursday: see week. , but most popular stock measures set new highs again as interest rates hit another 17-month low in the bond market. The Dow (Direct OverWrite) See magneto-optic disk. fell 32.28 to 8,222.61, snapping a streak of three straight record highs. MEMO MEMO Memorandum MEMO Medicines Monitoring Unit (University of Dundee) MEMO Medical Equipment Management Office MEMO Mission-Essential Maintenance Only MEMO Mission-Essential Maintenance Operations MEMO Mental Modeler ACT NETWORKS BUYS SOURCECOM: Camarillo-based Act Networks Inc. will buy the assets of SourceCom Inc. of Westlake Westlake, city (1990 pop. 27,018), Cuyahoga co., NE Ohio, a suburb of Cleveland; inc. as a city 1956. A growing city, its various manufactures include ink and plastics. Village for $8.6 million. SourceCom, which develops data transmission technology, filed for Chapter 11 bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most protection in July. Act hopes to incorporate certain SourceCom technologies into its own computer network access products. ?13Daily News INCOMNET REPORTS 215 PERCENT EARNINGS JUMP: Incomnet Inc., a Woodland Hills-based reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. of long-distance telephone services, reported second quarter earnings of $1.3 million, a 215 percent increase over the like period in 1996. The company had revenues of $34.9 million for the quarter, up 38 percent over 1996. ?13Daily News ECHO SIGNS DEAL WITH BANK: Agoura Hills-based Electronic Clearing House Inc. has signed a three-year contract with First Regional Bank of Century City to provide the bank with credit card processing and check guarantee services. As a result of the agreement, First Regional said it will open a new bank-card division in Agoura Hills. ?13Daily News Earnings Calnetics Corp. Chatsworth-based plastics manufacturer June 4th Qtr. 1997 1996 Sales $10.3 million $9.7 million Net Income $727,000 million $661,000 Net Per Share 23 cents 22 cents Year End 1997 1996 Sales $36.6 million $35.2 million Net Income $2.03 million $1.7 million Net Per Share 66 cents 55 cents Electronic Clearing House Inc. Agoura Hills credit processing, Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the and inventory tracking service provider June 3rd Qtr. 1997 1996 Sales $5.7 million $3.4 million Net Income $233,000 Loss of $244,000 Net Per Share 2 cents Loss of 2 cents PacificAmerica Money Center Inc. Woodland Hills-based mortgage lender June 2nd Qtr. 1997 1996 Revenue $20.2 million $8.3 million Net Income $4 million $11,000 Net Per Share $1.70 one cent The company went public at the end of 1996 and second-quarter results from that year reflect about $700,000 in costs associated with the stock offering. |
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