LOCAL FIRMS REAP BENEFITS OF BOOM IN U.S. ECONOMY.Byline: Enrique Enrique (IPA [en'ɾike]) is the Spanish form of the name Henry. As a given name, it ranked 298 out of 1219 for males of all ages in the 1990 U.S. Census. Rivero Daily News Staff WriterHot on the heels of 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. breaking the 8,000 threshold comes word from a number of local companies that the economic expansion has helped them as well, and in at least one case helped a company break its own prior financial records. On Assignment Inc., a Calabasas-based supplier of temporary help for the scientific, environmental and health-care financial industries, reported record earnings during its second quarter ended June 30. The company's net earnings jumped 40 percent to $1.92 million, or 35 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with $1.37 million, or 25 cents per share, during the comparable period last year. Revenues totaled $26.4 million, up 23 percent from $21.4 million last year. Second-quarter net earnings for Dole dole, distribution to the poor, usually of food or money. In medieval times doles were usually from bequests of money or land, and the income was given to charity or distributed to the local poor at funerals. Food Co. Inc. increased 11 percent to $70.4 million, or $1.17 per share, from last year's $63.6 million, or $1.05 per share. Revenues jumped by 6 percent to $1.1 billion from $1.04 billion the previous year. The Westlake Village-based fruit and vegetable producer credited the gains to strong sales in fresh fruit, vegetables and packaged products. Van Nuys-based Superior Industries International Inc., a maker of aluminum wheels and automotive accessories, reported net income of $15.1 million, or 54 cents per share, up nearly 9 percent from last year's $13.9 million, or 48 cents. Revenues for the period were $142.1 million vs. $137.6 million the prior year. The company attributed the increase to several major contracts and modest profits at its Arkansas Arkansas, river, United States Arkansas (ärkăn`zəs, är`kənsô'), river, c.1,450 mi (2,330 km) long, rising in the Rocky Mts., central Colo. facility, which had racked up $2.8 million in start-up Start-up The earliest stage of a new business venture. losses for the comparable period last year. Burbank-based Highland Federal Bank also saw a healthy gain, with net earnings for the quarter totaling $1.35 million, or 58 cents per share, compared with $489,000, or 21 cents, last year. Total interest and noninterest income for the quarter was $11.2 million, compared with $10.5 million. The Burbank-based bank attributed the improvement to its efforts to control and reduce administrative expenses. The bank sold three branches in the first quarter and last week announced the sale of a fourth. Among the Valley-area bunch announcing earnings Thursday, the only company showing a year-to-year decrease was Valencia-based The Newhall Land and Farming Company The Newhall Land and Farming Company is a land management company based in Valencia, California, United States. The company is responsible for the master community planning of Valencia, as well as the management of farm land elsewhere in the state. , whose second-quarter net income was $17.2 million, or 49 cents per share, down from $22.5 million, or 64 cents, in the year-ago period, when the company sold its McDowell Mc·Dow·ell , Ephraim 1771-1830. American surgeon who performed (1809) the first recorded ovariotomy. Mountain Ranch ranch, large farm devoted chiefly to raising and breeding cattle, horses, sheep, and goats. The cattle ranch was introduced from Latin America to Texas and the plains of the W United States and Canada. project in Scottsdale, Ariz. Revenues totaled $48.7 million, compared with $71.5 million. On the national front: Microsoft Corp.'s profits rose nearly 90 percent in the latest quarter, just barely beating Wall Street's expectations, to $1.06 billion, or 80 cents a share, on $3.18 billion in revenue, compared with profits of $559 million, or 43 cents a share, on $2.26 billion in revenue for the same period last year. Sears, Roebuck & Co. said its earnings rose 16 percent to $311 million, or 78 cents a share, for the quarter ended June 28, from $274 million, or 67 cents, in the year-earlier period. Revenue rose 6.6 percent to $9.73 billion from $9.13 billion. Merck & Co. said second-quarter earnings rose 19 percent to $1.15 billion, or 96 cents a share. Coca-Cola Co. said its second-quarter earnings rose 9.9 percent to $1.15 billion, or 47 cents a share. McDonald's Corp. reported its second-quarter profits rose 4 percent to $438.2 million, or 63 cents a share. McDonnell Douglas McDonnell Douglas was a major American aerospace manufacturer and defense contractor, producing a number of famous commercial and military aircraft. It merged with Boeing in 1997 to form The Boeing Company. Corp. said second-quarter earnings rose 3.7 percent to $195 million, or 93 cents a share. Occidental Petroleum Occidental Petroleum Corporation ("Oxy") NYSE: OXY is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Corp. reported an 8 percent drop in second-quarter earnings to $153 million, or 41 cents per share. |
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