Worthington Industries reports Q2 sales increase
Columbus, Ohio-based Worthington Industries, makers of metal products including hand torches and propane tanks, posted sales of $580.7 million in the second quarter ended Nov. 30, up 30% from $448.0 million in the same quarter last year.
Net earnings, however, declined to $14.5 million, down from from $23.2 million in the same quarter last year.
"I am pleased with the performance of our company as we continue to produce solid results in our Steel Processing and Pressure Cylinders business segments, despite an uneven economic recovery,” said Chairman and CEO John P. McConnell.
Looking forward, he added: "The third quarter is our historically slowest quarter of the year and while we do expect to see some seasonality impact, we anticipate sustaining much of our volume improvements in Steel Processing and Pressure Cylinders."
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Fast-talking thief fools alarm company
A Home Depot in Lexington, Ky., was burglarized by two thieves who managed to convince a security firm representative that they were store workers, according to an article in the Lexington Herald Leader.
The Christmas Eve heist tripped a security alarm, but when a representative of ADT Security Services called the store, one of the burglars answered and said he was a Home Depot employee who went back into the store to retrieve some items accidentally set off the alarm.
ADT sent police after the alarm continued to ring. By then, the two thieves had broken into the store’s safe and escaped with $10,000, according to the newspaper.
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Couples choosing grills, power tools in bridal registries
A growing number of engaged couples are listing home-improvement products in their gift registries, according to a just released survey by TheKnot.com and WeddingChannel.com. More than 12,000 couples with 2010 wedding dates were polled in the annual survey. Highlights include:
On average, engaged couples register at three retail stores, and 3% of the respondents registered at Home Depot in 2010. This compares to 2% in 2009.
• 43% registered for grilling, barbeque, and outdoor entertainment Items, compared to 39% in 2009.
• 20% registered for yard/lawn care/patio items, compared to 19% in 2009.
• 16% registered for power tools. In 2009, the number was 18%.
• 66% registered for home appliances (irons, vacuums, fans, etc.), unchanged from 66%.
• kitchen appliances/electrics and bakeware were the most popular gifts, at 91% and 90%, respectively.
Engaged couples are using wedding Web sites and social networking platforms like Facebook more often for their registries. The average family gift spend is $146. For friends, gifts generally average $79.