Pope Resources climbs out of the red in 2013
Pope Resources posted strong earnings for the full year and fourth quarter ended Dec. 31, 2013, pulling itself into the black after a 2012 riddled by losses.
Net revenue for the quarter was $19.1 million, up from $12.9 million during the same quarter in 2012. For the full year, revenues were also up substantially — 30.8% — at $70.7 million.
Net income of $2.5 million in the fourth quarter was a significant turnaround from year-ago losses of $673,000. Full-year income was $11.7 million, compared with a loss of $6.8 million in 2012.
"Gradually improving domestic housing starts and steady export log demand drove strong log prices for the quarter and the year," said David L. Nunes, president and CEO. "These market forces allowed us to increase our harvest volume, capturing previously deferred volume. Our Real Estate segment also benefited from improved market conditions as revenue for 2013 was nearly double the level of 2012. Together, these factors combined for a record year of revenue for the Partnership, and they laid the groundwork for a promising 2014 as we anticipate healthy prices for our logs and a string of real estate sales flowing from our Gig Harbor project."
Mow ‘n’ Stow lawnmower engine saves valuable garage space
Briggs & Stratton is introducing its latest lawnmower engine technology, which is debuting on the Toro Recycler SmartStow mower this spring.
Mow ‘n’ Stow enables gas-powered lawn mowers to be stored upright at a 110-degree angle, saving valuable space in the garage using Briggs & Stratton’s patent-pending engine design. This saves up to 70% more storage space via a folding process that only requires three steps.
“Garage space is at a premium in most homes,” said Carissa Gingras, director of marketing at Briggs & Stratton. “Homeowners told us they wanted a lawnmower that took up less room and was easier to clean and maintain, and Mow n’ Stow solves both needs.”
Mow ‘n’ Stow is designed to keep gas and oil leaks at bay using redesigned vents and new oil seals.
Additionally, the deck of the lawnmower can be stored in an upright position, which allows greater access to the underside of the mower for cleaning and maintenance. Toggle locks on the lower handlebars allow it to be locked in place during storage.
Whirlpool’s earnings double in 2013
Whirlpool reported record earnings in 2013 for the full-year and three months ended Dec. 31, with net earnings more than doubling over 2012.
2013’s net earnings of $827 million more than doubled 2012’s $401 million. Additionally, fourth-quarter earnings of $181 million were 48.4% above year-ago figures.
Overall, net sales for the appliance manufacturer were $18.8 billion for the year — a 3.5% improvement — and $5.09 billion for the quarter, up 6.2% year-over-year.
"The strong execution of our plans resulted in a record year of earnings," said Jeff M. Fettig, chairman and CEO of Whirlpool Corporation. "We continue to grow revenue, expand margins and increase our investment capacity, positioning us well as we enter 2014."