By Roby Brock
A Talk Business Quarterly Poll of 600 Arkansans revealed that 70 percent believe the state’s economy is moving in a negative direction. Twenty-seven percent said the economy was “strong and growing” or “in a recovery.”
The poll also showed that despite the gloomy outlook, 66 percent believe their personal financial situation is “good” or “excellent.” Thirty-two percent view their personal finances as “not so good” or “poor.”
The statewide poll was taken by phone among 600 likely Arkansas voters on Oct. 12-15, 2009 with a margin of error of plus or minus 4 percent.
AEDC director says 2009 ‘a little slower’
Arkansas Economic Development Commission Director Maria Haley shared her thoughts on the current economic climate and how the agency has dealt with the tribulations of the past year.
“I have to admit to you that it is a little slower, at least the first six months of the year,” Haley said. “It’s not the end (of the year) yet, and we have quite a few projects that we’re working right now and we’re trying to do our best.”
One economic prospect that would have created nearly 900 jobs scratched Arkansas off its list because the state could not afford to float a bond to structure competitive economic incentives. Haley said that a constitutional amendment on the ballot in 2010 could remedy the situation.
Acxiom profits slide
Little Rock database marketer Acxiom Corp. faced another tough quarter of down consumer spending and business marketing, but company officials indicated that an uptick may be coming. For the three months ended Sept. 30, Acxiom posted earnings of $9.5 million, down from $15.9 million in the previous year’s comparable period. Revenue slipped to $271.1 million in the quarter compared to $328.9 million one year ago.
Baldor earnings decline
Manufacturing bellwether Baldor Electric had a rough third quarter as sales tumbled 25 percent and net income fall by one-half.
The Fort Smith-based maker of industrial electric motors, mechanical power transmission products, drives and generators reported third-quarter earnings of $12.6 million on revenue of $380.4 million. One year ago, Baldor posted profits of $25.8 million on sales of $506.2 million.
P.A.M. transportation ends third quarter in red
P.A.M. Transportation Services (PTSI) reported a third quarter net loss of $1.2 million, an improvement from its $3.2 million loss in last year’s third quarter. Quarterly revenue for the Tontitown-based trucking firm was $76.7 million, down from $105.9 million one year ago.
P.A.M. is the fourth publicly traded trucking firm based in Arkansas to report earnings. Two other firms — Arkansas Best and USA Truck — also reported quarterly losses. Profits for Lowell-based J.B. Hunt slid 30 percent, but the company remained in the black.
Deltic Timber profits slip
Deltic Timber Corp. announced third quarter net income of $203,000, down from $2.5 million one year ago. Revenue for the El Dorado-based timber and real estate firm topped $80 million, a decline from $98.3 million in the third quarter of 2008.
Deltic CEO Ray Dillon seemed pleased that the company turned a quarterly profit.
“I am pleased that Deltic accomplished positive financial performance for another quarter despite the dismal economic environment that has had a significant negative impact on the forest products and real estate development industries,” he said.
Arkansas gets stimulus funds for broadband
Arkansas will get $2.1 million in federal stimulus dollars to map broadband access and to help expand broadband coverage in Arkansas. Connect Arkansas was awarded roughly $1.6 million for broadband data collection and mapping activities over a two-year period, and almost $500,000 for broadband planning activities over a five-year period for the state. Connect Arkansas, the designated entity for the state, is a private nonprofit organization based in the state and managed by Little Rock-based Arkansas Capital Corp.
Frost acquires Fayetteville CPA Firm
Little Rock-based accounting firm Frost PLLC acquired Ervin & Co., a Fayetteville CPA practice for an undisclosed sum. The two companies announced the merger on Wednesday.
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Roby Brock, a freelance journalist based in Little Rock, writes weekly for the Arkansas News Bureau. His weekly television program airs at 10 p.m. Sundays in Central and Northwest Arkansas. His e-mail address is roby@talkbusiness.net; his Web site address is www.talkbusiness.net.
