Liquidmetal Technologies strikes deal with TM&S
Bulk alloy developer Liquidmetal Technologies has signed a Manufacturers’ Represenation Agreement with Technical Marketing and Sales, a sales and marketing firm that specifically deals in specialty metals.
TM&S specializes in Powder Metal and MIM (Metal Injection Molding) parts. Bruce Bromage, Liquidmetal’s EVP of business development and operations, said in a statement that TM&S customers often note the cost and performance advantages of using Liquidmetal products.
“Liquidmetal technology fills a critical gap for design engineers and sourcing professionals that need high precision parts in volume, and especially for those applications that require high quality surface finish or strength," said Derek Rasmussen, president of TM&S.
Housing starts decline 9.9%
The Commerce Department’s residential construction report released Wednesday morning showed an unexpected downturn for housing starts.
Housing starts in June were at a seasonally adjusted annual rate of 836,000. That’s down 9.9% from the upwardly revised May estimate. Compared with a year ago, however, June starts were up 10.4%.
May’s starts figure was revised upward from 914,000 to 928,000. Analysts had expected a June figure above 950,000.
Building permits also disappointed. Permits came in at a pace of 911,000 — down 7.5% from the previous month. Compared with a year ago, building permits were up 16.1% from a very weak June 2012.
Single-family housing starts were less volatile in June, showing a decline of 0.6% and an annual rate of 624,000.
Jewett-Cameron reports third-quarter financial results
Jewett-Cameron Trading Co. CEO Don Boone said a shift to e-commerce resulted in lower costs and higher margins for the company during its third quarter ended May 31.
Overall, third quarter sales were $15.1 million, down from $16.1 million a year ago. The company reported net income of $1.02 million, up from $937,000 a year ago.
Sales for the nine months were at $38.6 million, up from $35.1million a year prior. Net income for the nine months was $2.3 million, about the same as a year ago.
Boone added that the company implemented a new share repurchase plan.
"We also completed the 2 for 1 stock split of our common shares, and our strong cash position combined with the additional liquidity corresponds to our practice of implementing share re-purchase programs, which we believe is an effective method of enhancing shareholder value," said Boone.