Emmis loss shrinks as radio stations produce more cash
The Indianapolis-based media company announced this morning that it lost $2.3 million in the latest quarter, down from a whopping $135.6 million in the same period a year earlier.
Public Companies
Articles
For-profit college stocks tumble on enrollment warning
Investors fled for-profit college stocks Thursday after sector bellwether Apollo Group Inc. predicted a 40-percent drop in student enrollment next quarter and withdrew its forecast for next year. Carmel-based ITT Educational Services shares closed at $56.44 each, down almost 15 percent for the day.
Biomet sales rise, but slower than expected
Biomet’s quarterly results are considered an indicator on the state of the orthopedic device industry because it reports results before most of its competitors.
Interactive Intelligence stock up on quarterly projections
Shares of Interactive Intelligence Inc. surged Tuesday after the communications software maker reported preliminary third-quarter results and projected that revenue will grow 20 percent this year.
WellPoint, other insurers’ stock buybacks concern investors
Indianapolis-based WellPoint Inc. and competing U.S. health insurers approved $10 billion in stock repurchases in the past year, a concern to investors who say buybacks failed to increase share prices and who want more spent on dividends.
Frontier could seek marketing deal with major airline
Frontier Airlines may seek a marketing agreement with a major carrier as industry collaboration continues, said Bryan Bedford, chief executive of Indianapolis-based parent company Republic Airways Holdings Inc.
Lilly’s Erbitux shows mixed results in cancer studies
In combination with chemotherapy, the drug failed to help colon-cancer patients in a European trial but did delay the spread of breast cancer in some patients with a certain type of aggressive tumor.
Finish Line introduces in-store kiosks to make custom T-shirts
Finish Line is testing touch-screen customization kiosks at its Greenwood Park Mall store. The kiosks, which look like oversize iPads, produce an individualized Nike T-shirt in about 15 minutes.
Biglari adjusts controversial pay proposal
The parent company of Steak n Shake restaurants has scaled back a controversial pay package for its CEO in hopes of securing shareholder approval of the plan at a rescheduled special meeting.
Fortune Industries reports higher profit, lower revenue
Indianapolis-based professional employer organization reported fiscal-year profit of $828,000, an 85-percent increase from fiscal 2009. Revenue, however, fell 20 percent, to $60.7 million.
Finish Line’s second-quarter profit jumps to $16.8M
Indianapolis-based The Finish Line Inc. said Thursday that its second-quarter profit rose as it rebounded from a messy quarter a year earlier after the athletic shoe retailer sold its unsuccessful Man Alive hip-hop stores.
Structural shakeup means changes at EnerDel
Ener1 Inc., the parent company of local advanced-battery maker EnerDel, has reorganized its corporate structure and shuffled management ranks.
Brightpoint replaces director hired to lead Six Flags
Brightpoint Inc. said board member James W.P. Reid-Anderson has resigned after being selected last week to become chairman, president and CEO of amusement park operator Six Flags Entertainment Corp.
Smulyan-led firm sues backer over failed Emmis deal
Emmis Communications Corp. CEO Jeff Smulyan’s JS Acquisition LLC is suing its one-time financier for backing out of a deal to take the Indianapolis-based media company private.
Simon, former executive settle fraud suit
Mark Palombaro, a former senior vice president of development, will pay the company $766,000, settling a lawsuit that accused him of getting kickbacks on construction contracts.
UPDATE: Large debt load will continue to weigh on Emmis
Emmis, which has been awash in red ink, must contend with more than $340 million in debt after CEO Jeff Smulyan failed in his attempt to purchase the company and take it private.
Smulyan delays Emmis buyout vote again
A Wednesday evening shareholders meeting has been postponed until Thursday at 8:30 a.m., when the Emmis CEO again will try to take the company private.
Business bank reports second-quarter loss
Indiana Business Bank’s restructuring of a real estate loan leads to loss of $484,678 in the second quarter.
Republic Airways lands $110,000 in federal penalties
Federal regulators say Republic delayed filing financial reports for subsidiaries Chautauqua Airlines, Republic Airline and Shuttle America. it is the second proposed sanction levied against the Indianapolis-based carrier this year.
PROXY CORNER: Noble Roman’s Inc.
Noble Roman’s Inc. is a franchisor of Noble Roman’s Pizza and Tuscano’s Italian Style Subs restaurants.