Southwest Missouri News

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Joplin|ret||ret||tab|

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LaBarge sales drop, earnings stable|ret||ret||tab|

LaBarge Inc. experienced a drop in net sales for its third quarter, but earnings remained stable.|ret||ret||tab|

For the quarter that ended March 1, earnings came to $1.2 million, or 8 cents per share, on revenue of $30.2 million.|ret||ret||tab|

During the same period last year, earnings also came in at $1.2 million, or 8 cents per share, but revenue hit $32.4 million.|ret||ret||tab|

That is a year-to-year revenue drop of approximately 7 percent for the St. Louis-based company, which has a plant in Joplin.|ret||ret||tab|

For the first nine months of the company's fiscal year, revenue was up and earnings rose sharply. Earnings for the first nine months of the company's fiscal year came to $3.5 million, 23 cents per share, on revenue of $93.8 million.|ret||ret||tab|

That compares with earnings of $2.6 million, or 17 cents per share, on revenue of $83.6 million for the same period in fiscal 2001. That is a 35 percent increase in earnings so far this year.|ret||ret||tab|

"The decline in third-quarter net sales compared with the year-ago period is primarily attributable to the completion of the large Northrop Grumman postal program," Craig LaBarge, chief executive officer and president, said in a prepared statement. |ret||ret||tab|

During the quarter, defense-related contracts represented 47 percent of business for the manufacturing services side of the company, which includes the Joplin plant. Last year, during the same period, the figure was 22 percent.|ret||ret||tab|

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Empire Electric meets safety goal|ret||ret||tab|

Empire District Electric Company recently announced that it had achieved its ongoing safety goal: 500,000 man-hours without a lost-time injury. Empire employees average approximately 3,600 hours per day worked on a 7-day basis. The last lost-time injury occurred on Nov. 26, 2001.|ret||ret||tab|

"This is a tremendous safety achievement for every employee of the company," said George Thullesen, director of safety and environmental Services for Empire. "This achievement represents pain not suffered, and work, ball games, recitals, family events, not missed. It is a measure of the non-occurrence of anxious moments by co-workers, family, and friends. It represents a job well done and a job safely done."|ret||ret||tab|

Based in Joplin, Empire District Electric Company is an investor-owned utility providing electric service to approximately 145,000 customers in southwest Missouri, southeast Kansas, northeast Oklahoma, and northwest Arkansas. |ret||ret||tab|

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Southern Union has top quarter|ret||ret||tab|

Despite a warm winter, Southern Union Co., the parent of Missouri Gas Energy, reported record earnings for the third quarter of its fiscal year.|ret||ret||tab|

"Although we cannot control Mother Nature, our results show that we can control costs," Thomas Karam, president and chief operating officer, said in a statement. "Notwithstanding one of the warmest winters on record, these results confirm the success of our cash flow improvement plan."|ret||ret||tab|

Southern Union initiated a restructuring last year that included layoffs of several hundred people as well as voluntary early retirements.|ret||ret||tab|

Net earnings for Southern Union's third quarter, which ended March 31, came to $43.8 million, or 82 cents per share. That compares with earnings of $40.8 million, or 74 cents per share, for the same period a year ago.|ret||ret||tab|

Revenue in the quarter came to $529 million, compared with $915 million one year ago. Earnings for the first nine months of the year came to $33.1 million, or 61 cents per share. |ret||ret||tab|

That compares with earnings of $46.1 million, or 84 cents per share, for the nine-month period one-year earlier.|ret||ret||tab|

The company took an $18 million hit to earnings for a restructuring that was announced last year.|ret||ret||tab|

The latest quarter also includes after-tax gains of $6.7 million from the sale of a portion of Southern Union's holdings in Capstone Turbine Corp.|ret||ret||tab|

Revenue for the nine months hit $1.1 billion, compared with $1.7 billion for the same period one year ago.|ret||ret||tab|

MGE provides natural gas to a half-million customers in the state, including Joplin residents.|ret||ret||tab|

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Neosho|ret||ret||tab|

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La-Z-Boy increases cash dividend|ret||ret||tab|

La-Z-Boy Inc., the world's top maker of reclining chairs, recently announced that it has raised its quarterly cash dividend by 11 percent. |ret||ret||tab|

The company said it will pay a dividend of 10 cents per common share, up from 9 cents in the previous quarter. |ret||ret||tab|

The Monroe, Mich.-based company said the dividend is payable June 10 to shareholders of record on May 24. |ret||ret||tab|

La-Z-Boy operates a plant in Neosho, which employs more than 1,000 people, making it one of the largest employers in the region.|ret||ret||tab|

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