Southwest Missouri News

Carthage

YMCA names campaign chair

Tom Wells, corporate vice president and president of the machinery and technology segment of Leggett & Platt, has been named chairman of the Fair Acres Family YMCA annual Partners with Youth Campaign for 2001.

Wells, a YMCA board member from 1990 through 1996, joined the board again in June and agreed to head a team of 30 in the volunteers campaign that will continue through the end of August.

Joplin

Nielsen rates KODE highest

KODE television station was the highest rated ABC affiliate in the United States, according to data gathered by Nielsen Media Research during the May 2001 rating period.

That month KODE averaged a 6.6 rating with a 20 share among adults ages 18-49.

Nielsen defines a rating as the percent of all television households that are being measured.

A share is the percentage of all households or persons using televisions who are watching a particular program. There are 189 ABC affiliates nationwide.

Modine reports earnings drop

Modine Manufacturing Inc. has reported a drop in earnings and earnings per share by nearly half in the company's first quarter.

The Racine, Wis., company, which has a factory in Joplin, said net sales for the first quarter of fiscal 2002 came to $280.6 million.

That is a 6.6 percent drop when compared with net sales of $300.4 million reported during the first quarter of the previous year.

Net earnings came to $10.2 million during the quarter, which ended June 26. That compares with earnings of $19.2 million for the quarter one year earlier.

The net earnings for both periods were restated to include results of Modine's acquisition of Thermacore International Inc. this spring. Net profits for the first quarter were reduced by a charge of more than $3 million related to the acquisition.

Modine officials said sales were down or flat for all of its markets except for off-highway equipment. Volume increases were offset by the strength of the U.S. dollar, which had the effect of reducing revenue in the quarter by more than $5 million.

"Overall revenues this year will be about the same as for fiscal 2001, with one first half down from the year before but with improvement coming in the second half," said D.R. Johnson, president and chief executive officer for Modine, in a prepared release. "Like many industrial companies, our projections are contingent upon the U.S. and European economies improving during the second half of our fiscal year."

In addition, the company's board of directors declared a regular quarterly dividend of 25 cents per share on the outstanding common stock, payable Sept. 6 to all shareholders of record on Aug. 24.

Monett

Jack Henry reports revenue

Jack Henry and Associates Inc. July 23 reported record revenue, earnings and earnings per share for its 12th consecutive year.

"Demand for our integrated suite of banking and credit union solutions remains robust across the board, led by very strong interest in our imaging solutions and outsourcing offerings," said Michael E. Henry, chairman and chief executive officer, in a prepared statement.

The company reported $94.9 million in total revenue for the fourth quarter, which ended June 30, compared with $69.4 million for the same period a year ago. That is a jump of 37 percent.

Total revenue for the fiscal year came to $345 million, compared with $225.3 million a year earlier. That is an increase of 53 percent.

Net income rose to $15.5 million for the quarter, compared with $11.4 million a year ago. That is a jump of 36 percent.

Earnings per share for the quarter came to 17 cents, up from 13 cents per share for the fourth quarter last year.

Net income for the year was $55.6 million, an increase of 62 percent compared with income of $34.4 million a year ago.

Earnings per share for the year came to 61 cents, compared with 40 cents for the previous year. That is an increase of 53 percent.

The figures reflect 1.5 million shares the company issued last August.

"As in the past, our gross margin varies from quarter to quarter depending on the mix of business, because profitability varies between product areas and even within product lines," said Kevin D. Williams, treasurer and chief financial officer. "Over the course of a year, however, our margins tend to even out. We are very pleased with gross margins in the mid-forties, and believe our profitability levels, on a fiscal basis, should improve in the future."