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.
Despite Aborted Acquisition, ITC Profits RiseITC Holdings, the nation's largest publicly traded owner of the power grid, reported sharply higher revenue and net income for the fourth quarter and year ended Dec. 31.
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.
iTeknik Operating Income Rises Despite Cut In SalesITeknik Holding Corp. (OTC: ITKH), a provider of telecommunications services through its Send Global subsidiary, Thursday reported operating income of $45,582 in the first fiscal quarter ended Sept. 30, up from $12,175 in the first quarter of the prior fiscal year.
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.
Advanced Photonix Loss Shrinks As Revenue GrowsAdvanced Photonix Inc. (NYSE: API) late Tuesday reported a loss of $578,000 or 2 cents a share in the second fiscal quarter ended Sept. 30, an improvement from a loss of $1.3 million or 4 cents a share in the same quarter a year earlier. Revenue jumped 35 percent.
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.