- August
- 6
Hudson Valley Holding Corp. of Yonkers, the parent company of Hudson Valley Bank, said it had lower profits for the first half of fiscal 2008, year over year.
The company had net income of $16.3 million, or $1.59 a share, compared to net income of $16.7 million, of $1.64 a share, in the first half of 2007. Chief Executive Officer James J. Landy said net loans increased $205.3 million, or 15.9 percent in the period, leading the company to increase its loan loss reserve.
As of June 30, assets were $2.3 billion, deposits were $1.7 billion and net loans were $1.5 billion.
Posted by Jerry Gleeson on Wednesday, August 6th, 2008 at 4:26 pm | 
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- June
- 16
PepsiCo Inc. reiterated today that it expects per-share earnings of $3.72 this year, despite flooding at its Quaker manufacturing plant in Cedar Rapids, Iowa.
The Quaker plant closed Wednesday as the region prepared for record flooding caused by the swollen Cedar River, which crested at 31.1 feet on Friday.
With flood waters having receded, engineers and safety resources have toured the plant and assessment is ongoing, PepsiCo said in a written statement.
The Purchase-based company said it “expects disruptions to normal service over the next few weeks,” which may result in incomplete orders for food and snack items to retailers.
Some production has been redirected to other Quaker plants, PepsiCo said.
The company has insurance covering both the facility and business interruption, it said.
Flooding in many areas of the Midwest has also impacted grain plantings, which could impact the company’s business.
A spokeswoman said, however, that PepsiCo’s “corn costs are secured for the future.”
Posted by David Schepp on Monday, June 16th, 2008 at 5:06 pm |
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- May
- 13
At its annual meeting of shareholders in Tarrytown today, ITT Corp. reiterated it expects to earn $4 to $4.10 a share in 2008 on revenues of about $11.5 billion.
In other business, shareholders re-elected nine of 10 board members on its board of directors, the Harrison-based defense contractor said.
Raymond LeBoeuf, an ITT director since 2000, is retiring from the board and didn’t stand for re-election.
Shareholders also approved Deloitte & Touche LLP as the company’s independent auditor, ITT said.
In afternoon trading, shares of the company were down a fraction to $66.43 a share.
Posted by David Schepp on Tuesday, May 13th, 2008 at 12:44 pm |
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