Southwest Missouri News

Joplin

King Press exhibits at NEXPO

King Press Corp., based in Joplin, was among exhibitors at the Newspaper Association of America's 71st annual Technical Exposition and Conference in Las Vegas.

At the conference, King Press, a manufacturer of single-width web offset printing presses, introduced the Print King IV, a compact 4-high vertical web press designed for high-quality color printing.

New VP named at Hook Up Inc.

Joleen Murray has been promoted to vice president of financial reporting at Hook Up Inc., Joplin. She has been with the company for six years and holds a bachelor of science degree from Missouri Southern State College.

Miller appointed to hearing board

Homer Miller has been reappointed as a member of the state's Board of Examiners for Hearing Instrument Specialists by Gov. Mel Carnahan. The board makes recommendations to the Division of Professional Registrations on matters pertaining to licensure and regulation. Eight members, appointed to four-year terms, comprise the board. Miller owns Joplin Hearing Aid Center.

Theater is first TIF development

Groundbreaking ceremonies were held June 17 for a five-screen movie theater at 1601 Malcolm Mosby Dr. B&B Theaters is owner of the Neosho theater.

The theater is the first business to participate in a tax-increment financing program offered by the county, according to a press release from the Neosho Area Chamber of Commerce. The agreement calls for the theater to lease the 4.5 acres of county-owned land for 50 years. There is no lease charge for 15 years, then a charge of $5,000 per year with adjustments based on the Consumer Price Index will apply.

The financing mechanism, authorized by state law, permits towns to sell bonds to pay for streets, sewer and water lines and drainage work in an undeveloped area. The bonds are paid off with the part of future sales-tax and property-tax revenue the city would not have collected without the development.

An 11-member commission, composed of business people and representatives from Newton County and its school districts, has drafted three economic-development districts for the program. These include the Malcolm Mosby area where the theater is located. State law allows the city up to 23 years to pay off bonds and to develop the districts.

Jack Henry reports quarterly financials

Jack Henry & Associates Inc. reported $43.5 million in revenues for its third quarter that ended March 31, a 25 percent increase compared to the same period in 1998. That revenue resulted in net income of $7.7 million for the quarter, up from the $5.6 million in net revenues for the quarter last year. For the nine months that ended March 31, Jack Henry reported $139.6 million in revenues, up from $96.2 million in the nine-month period from 1998, and net income of $23.4 million for the nine-month period, up from $15.7 million in net income for the same 1998 period.

The bank computer software company's fiscal year concludes at the end of this month.

In its third-quarter report to the Securities and Exchange Commission the company said its financial position continued to be favorable.

"This reflects the continuing attitude of cooperation and commitment by each employee, management's ongoing cost-control efforts and the company's commitment to deliver top-quality products and services to the markets it serves," the report said.

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