| Integra LifeSciences Reports Second Quarter 2007 Financial Results
PLAINSBORO, N.J., Aug. 7, 2007 (PRIME NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NasdaqGS:IART - News) today reported its financial results for the second quarter ending June 30, 2007. Total revenues in the second quarter of 2007 were $134.8 million, reflecting an increase of $34.6 million, or 35%, over the second quarter of 2006. Revenues from products acquired since March 31, 2006 were $26.8 million for the second quarter of 2007, compared to $8.6 million in the second quarter of 2006. .
Construction, Insurance Costs Eating Into Rental Repair Aid in La.
Rental housing programs for storm-damaged south Louisiana won't rebuild as many rental units as state officials had hoped because of skyrocketing construction and insurance costs, a Louisiana Recovery Authority official said July 30. Andy Kopplin, LRA executive director, said initial estimates were that federally funded, state-run rental repair programs and a package of federally enacted, low interest tax credits would rebuild as many as 45,000 rental units. But he said the increased costs after hurricanes Katrina and Rita likely will shrink that number to around 30,000 rental units. The state's Road Home program includes more than $1.5 billion for rental repair and aid, funded with federal dollars, Kopplin said. Also, a package of federal tax credits is available for rental housing construction in hurricane damaged areas, he said.
New scoring method targets piggyback problems
A pending change to a popular credit scoring system is about to it make it much harder for people to polish their credit by riding the coattails of someone else's good payment record. Fair Isaac Corp., the creator of the widely used FICO credit scoring formula, is adjusting its scoring method to fight a growing trend called piggybacking. Piggybacking involves letting another person become an authorized user on your credit card account. As an authorized user, that person immediately inherits the payment history of that account. People seeking to boost their credit ratings typically hitch themselves to folks with histories of paying their cards on time and keeping their balances low, all of which maximizes their credit scores. In the past, this arrangement has been between family members or friends.
Ford breaks out the black ink
DEARBORN, Mich. -- Job cuts, slimmer losses in North America and good sales overseas helped Ford Motor Co. post surprise second-quarter earnings Thursday of $750 million, its first profitable quarter in two years.
The company also said the sale of its Jaguar and Land Rover subsidiaries was probable, and it said its U.S. market share rose during the quarter.
Still, President and Chief Executive Alan Mulally said investors should not think that Ford has turned the corner to consistent profitability.
"These accomplishments are something to be proud of, but we are not ready to declare victory," he said, predicting substantial losses in the third and fourth quarters, when sales volume is traditionally lower. The company does not expect a return to full-year profitability until 2009.
Auto Insurance 101: 12 Things to Know
Like death and taxes, auto insurance is one of those dreaded chores we just can't avoid -- at least not legally. Nearly every state requires motorists to carry at least liability insurance, and in most cases, you'll want more. Be sure you understand your needs -- and how to get the best deal -- when you're insuring your vehicle. Plan. Start thinking about insurance before you choose your vehicle. You will save right out of the gate if you opt for a car without a lot of bells and whistles ("turbo" features, for instance, often raise premiums because insurers tend to think if you choose turbo, you are most likely to speed). Also consider which cars have the highest theft rates. Check a recent list -- the insurers do, and they charge more to cover those models. Plan where you'll park, too.
Lotto Winners' Scratch-off Success
The only thing better than meeting one lottery winner is meeting two at a time. The New York State lottery presented two $1 million checks to instant scratch off game winners. The first went to retiree Jean Tomczak of Nunda, but unlike her choice in ticket, her win is no mistake. "I wanted to play a New York poker that David plays, and I went to the machine and got the poker, and I said that's not what he plays," Tomczak said. And it's a good thing she chose the no limit poker and not what her husband normally plays. The couple plans to spend part of its winnings on education for their grandchildre. They say they have a lot more living to do. As for the other lottery winner, she hopes to fulfill a long time dream. "I'm finally going to have the home that I've always wanted.
Curious Crowd Forms in Spencerport
Hundreds of people gathered along the Erie Canal in Spencerport Wednesday to watch rescue crews in action. "People love this stuff," said Patrick Hotchkiss, Spencerport. “It's a curiosity thing." Scuba divers and firefighters spent hours pulling out a car that plunged into the canal Tuesday night. Police say a Rochester man in his mid-30's drove off Union Street and into the water. Another man driving by dove in and saved his life. It took crews two attempts to reel the car to shore. "There's unknown objects at the bottom. The water's murky. You can be in the water you can't see yourh and in front of your face," said Douglas Nordquist, Ogden Police Chief. Police say the driver was taken to Strong Memorial Hospital with minor injuries. They are not releasing his name.
Ford Posts $750M Profit, Warns Of Coming Losses
Ford Motor Co. post surprise second-quarter earnings Thursday of $750 million, its first profitable quarter in two years.The company also confirmed it is exploring the sale of its Jaguar and Land Rover subsidiaries and said its U.S. market share rose during the quarter.Despite that, Ford's president and chief executive said investors should not think that Ford has turned the corner to consistent profitability."These accomplishments are something to be proud of, but we are not ready to declare victory," Mulally said, predicting substantial losses in the third and fourth quarters.Ford's second-quarter profit of 31 cents per share compares with a net loss of $317 million, or 17 cents per share, in the same quarter of last year.The company attributed the gains to significant year-over-year improvement in all of its automotive operations, and to cost cuts due to restructuring and positive special items that totaled $443 million.
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