Archive for the 'Business News' Category
Triangle Names New Chairman, President and Executive Team
Founder Harvey Saltzman announced today that he has appointed son David as the new president of Triangle, with daughter Bonnie Dayan named vice president of sales & marketing and longtime executive Steven Farber as vice president of technology services.
After 51 years as president, patriarch Harvey moves to the position of chairman, where he will remain active in the company’s day-to-day operations.
Heidelberg Presents First-Quarter Figures
- Incoming orders around 21 percent up on previous year
- Sales climb by around 9 percent to EUR 719 million
- Operating result more than doubled to EUR 16 million
- Outlook for full financial year 06/07 unchanged
Heidelberger Druckmaschinen AG (Heidelberg) (FWB: HDD) increased its sales and earnings in the first quarter of financial year 2006/2007 compared with the previous year. At EUR 719 million, sales by the Heidelberg Group in the first three months (April 1 to June 30) were around 9 percent up on the previous year (EUR 660 million). Incoming orders in the first quarter increased by around 21 percent to EUR 1.076 billion (previous year: EUR 886 million). At EUR 1.346 billion, the order backlog at the end of the first quarter was up on the figure at March 31, 2006 (EUR 1.017 billion) thanks to the good levels of incoming orders.
“The positive trend in the print media industry continued in the first three months of the new financial year,” said Bernhard Schreier, Heidelberg’s CEO. “The success of the IPEX trade show at the start of the financial year gave us considerable momentum. Our expectations for 2006/2007 are confirmed.”
Record Second-Quarter Earnings Announced by Wausau Paper
Wausau Paper (NYSE:WPP) today reported net earnings for the second quarter of $3.6 million or $0.07 per share, compared with a net loss of $2.7 million, or $0.05 per share, the year before. Net sales increased 8 percent to $297.3 million while shipments increased 4 percent to 232,000 tons, both records for any quarter.
In discussing the year-over-year second-quarter comparison, Thomas J. Howatt, president and CEO, stated, “Revenues rose to record levels as two of our three business segments increased sales at double-digit rates. This performance was primarily attributable to strong towel and tissue markets, improved uncoated freesheet market conditions, and a continued focus on the strategic drivers of our long-term success - attractive niche markets, product innovation, benchmark customer service, and operational excellence. Continued progress was evident in several key measures. For instance, approximately 30 percent of revenues came from products developed in the last three years, comfortably exceeding our corporate goal of 25 percent, and paper mill productivity improved 2 percent year-over-year, continuing to build on consistent gains in recent years. These sales and efficiency gains helped offset year-over-year fiber and energy cost increases of $0.08 per share.”