By Roby Brock

Driven by exceptional international growth, retail behemoth Wal-Mart Stores posted fourth-quarter profits of $4.69 billion and full year profits of $14.41 billion.

One year ago, Wal-Mart reached fourth quarter net income of $3.79 billion and full year net income of $13.25 billion.

Sales for the Bentonville-based retailer were $112.8 billion in the fourth quarter – a 4.6 percent increase over the previous year — and $405 billion for the full year, up one percent compared to a year ago.

However, the holiday season was not as financially rewarding as the company had hoped. Comparable store sales during the fourth quarter ending Jan. 31 were down two percent compared to the same period in the previous year.

Wal-Mart has been making significant changes to its operations in 2010, including layoffs and a major corporate reorganization. Officials also disclosed that international sales, which accounted for more than half of this past year’s growth, would continue to propel Wal-Mart’s overall sales.

Windstream sees net income fall
A tough economy reduced income and earnings for telecom and Internet provider Windstream Corp. The Little Rock-based communications company reported fourth-quarter revenue of $754.4 million and net income of $75.5 million.

For the full fiscal year, Windstream’s total revenue cleared $3 billion and profits topped $334.5 million, down 19 percent from one year ago.
The company also selected a new board chairman, Dennis Foster. Former chairman Francis “Skip” Frantz will remain on the board.

Internet, wireless data push AT&T to big upgrades
Internet growth and increased wireless data traffic has led AT&T to invest nearly $450 million in Arkansas during the past three years to improve its working infrastructure. AT&T Arkansas says it will add nearly 50 new cell sites in 2010 and upgrade 200 additional cell towers with the latest technology throughout the state.

AT&T said its wireless data traffic has grown more than 5,000 percent during the past three years, in large part due to smartphones like Apple’s iPod and Blackberries.

Bella Vista bypass gets $10 million from feds
The Bella Vista Bypass, a major corridor in the I-49 project, received $10 million from the federal government as part of the TIGER — Transportation Investment Generating Economic Recovery — grant program. Originally, Arkansas’ highway commission partnered with their Missouri counterparts to request $145 million for the partial toll road project.

The feds released $1.5 billion in total grants for over 50 high-priority transportation projects across the country. TIGER grants, which were created as part of the economic stimulus, target major national and regional transportation projects that create jobs or show strong economic benefits.

Former Affiliated Foods CEO confesses to bank fraud
Former Affiliated Foods Southwest CEO John Mills pleaded guilty to one count of bank fraud on Thursday for his role in a massive check-kiting scheme.

Mills, who was dismissed from Affiliated before its bankruptcy last year, kited $11.5 million worth of checks, according to U.S. Attorney Jane Duke.

Mills could be fined up to $1 million and sentenced to up to 30 years in prison for his role in the fiasco.

McDaniel: State to receive $18.5 million in settlement
Attorney General Dustin McDaniel announced that he has settled a lawsuit filed in 2008 against the pharmaceutical company, Eli Lilly, over its promotion of the anti-depressant drug Zyprexa. Arkansas will receive $18.5 million from the settlement, the state’s largest pharmaceutical settlement in history.

McDaniel argued that Eli Lilly violated the Arkansas Medicaid Act, the Arkansas Deceptive Trade Practices Act and other state laws in its marketing of Zyprexa.

UA economic impact: $725 million
The University of Arkansas has an economic impact of more than $725 million a year on state and local economies, university officials disclosed this week.

The figure comes from a report prepared by researchers in the Center for Business and Economic Research at the Walton College of Business.

The study found:
—There are more than 60,000 UA alumni living in Arkansas, representing every county in the state
—Those alumni contribute $62.9 million in sales and use taxes to state and county governments and an additional $122.2 million in state income taxes
—UA alumni living in the state earn $2.2 billion in wages a year

The report also estimated the impact of the university on the Northwest Arkansas economy, including the school’s annual operations.