Neogen Profits Fall On Integration Of Acquisitions; Revenue RisesThe Lansing animal and food safety testing product maker Neogen Corp. (Nasdaq: NEOG) Tuesday announced net income of $6.6 million for for the third quarter of its fiscal year, which ended Feb. 28, down from $6.7 million in the same period a year earlier. Earnings per share was unchanged at 18 cents for both periods. Revenue for the quarter was $62 million, up 21 percent from $51.1 million a year earlier.
DTE Energy Earnings Jump 8%DTE Energy Friday reported 2013 earnings of $661 million, or $3.76 per diluted share, up 8.4 percent from $610 million, or $3.55 per diluted share in 2012.
Tech Earnings: Dow Corning, Rofin-SinarBoth Midland-based Dow Corning Corp. and Rofin-Sinar Technologies Inc. of Plymouth reported earnings this week for the quarter ended Dec. 31.
Dow Stock Surges As Company Bounces Back To ProfitDow Chemical Co. reported fourth quarter net income of $963 million, or 79 cents a share, in the fourth quarter of 2013, compared to a loss of $716 million, or 61 cents a share, in the fourth quarter of 2012.
Compuware Revenue, Profits DipRevenue and profit both fell last fall at Michigan's biggest tech company, Compuware Corp. Net income in the third fiscal quarter ended Dec. 31 fell to $25 million or 11 cents a share from $25.3 million or 12 cents a share a year earlier. Revenue came in at $250.5 million, down from $257.9 million a year earlier.
Neogen Profit Falls On Fewer Food Contamination Crises, Higher Acquisition CostsNeogen Corp. makes products that test for contamination and other biotech information in food and livestock. A year ago, amid outbreaks of food contamination, the company reported record profits. This year, for the second quarter of its fiscal year, which ended Nov. 30, the company reported lower net income despite higher sales due to what a top executive called a year of "clean crops." Acquisition expenses also played a part.
Bonal Net Income PlungesRoyal Oak-based Bonal International Inc. (OTC: BONL) last week announced net income of $111,148 or 7 cents a share for the second fiscal quarter ended Sept. 30, down from $201,196 or 12 cents a share in the same quarter of a year earlier. Revenue for the quarrer was $581,325, down from $747,048 a year earlier.
InfuSystem Holdings Profits Jump On Sales IncreaseInfuSystem Holdings Inc. (NYSE: INFU) Tuesday reported net income of $649,000 or 3 cents a share in the third quarer ended Sept. 30. That's up from $33,000 or less than a penny a share in the third quarter of 2012.
Rofin-Sinar Profits Fall On Flat SalesThe industrial laser maker Rofin-Sinar Technologies Inc. (Nasdaq: RSTI), based in Plymouth and in Hamburg, Germany, Thursday reported net income of $9.8 million for its fourth fiscal quarter ended Sept. 30, down 3 percent from $10.1 million in the same quarter a year earlier.
ITC Holdings Revenue, Earnings Rise; Earnings Guidance NarrowedThe Novi power grid owner ITC Holdings Corp. (NYSE: ITC) Thursday reported net income of $59 million or $1.12 a share in the third quarter ended Sept. 30, up from $51.2 million or 98 cents a share in the third quarter of 2012.
Perrigo Profits, Sales RiseThe generic pharmaceutical and store-brand helath products maker Perrigo Co. (NYSE: PRGO) Thursday reported net income of $111.4 million or $1.18 a share in the first fiscal quarter ended Sept. 28, up from $105.6 million or $1.12 a share in the first fiscal quarter a year earlier. Revenue was $933.4 million, up from $769.8 million a year earlier.
TRW Profits Jump, Boosts Share RepurchaseThe Livonia automotive technology provider TRW Automotive Holdings Corp. (NYSE: TRW) reported net income of $197 million in the third fiscal quarter ended Sept. 27, up from $163 million last year. Earnings per share were $1.60, up from $1.28. Revenue was $4.21 billion, up from $397 billion.