By Roby Brock
Flippin-based Fishing Holdings has purchased Triton Boats in a private equity deal.
Fishing Holdings, owned by Platinum Equity, manufactures Ranger and Stratos brand fishing boats in north Arkansas. The new acquisition, Triton Boats, holds an estimated 13 percent share of the U.S. fishing boat market.
Triton Boats was founded in 1996 and is one of the most recognized brands in fishing, especially for professional, tournament-grade bass boats.
Triton fiberglass boats will be built in Flippin, where production will begin in the fall of 2010, according to company officials.
Baldor electric earnings spike
Fort Smith-based Baldor Electric Co. reported second quarter earnings that blew past analyst estimates. The company also reported continued strength into the third quarter.
The global maker of electric motors, drives and controls said second quarter net earnings were $22.767 million, up 192 percent compared to the 2009 reporting period. The earnings came from total revenue of $439.491 million, up more than $54.81 million, or 14.2 percent, compared to the second quarter of 2009.
Baldor said that improved productivity and strong sales orders drove the positive results.
Deltic Timber sees stronger revenue, net income
Deltic Timber Corp. posted second quarter net income of $5.5 million, up substantially from $972,000 one year ago.
Revenue for the El Dorado-based timber and real estate firm also increased dramatically from $29.1 million in the second quarter of 2009 to $38.9 million in this year’s comparable period.
The improvement was primarily due to significantly higher sales prices for lumber during the second quarter of 2010 and a sales volume increase to capitalize on the market improvement.
For the first half of this year, Deltic is sitting with a $7.8 million year-to-date profit compared to a $202,000 loss in the first six months of 2009.
P.A.M. Transportation returns to profitability
After more than two years of operating losses, P.A.M. Transportation Services finally turned a profit.
The Tontitown-based dry goods hauler reported net income of $1.26 million on revenue of $85.3 million, a 24.5 percent increase from last year’s second quarter. One year ago, P.A.M. posted a $946,000 second quarter net loss on sales of $68.5 million.
P.A.M. President Daniel Cushman said that the return to profitability would result in the removal of a five percent pay reduction that was implemented last year. Cushman cited a number of key performance indicators including better utilization of equipment, negotiated rates with customers, and capitalizing on new businesses.
Acxiom posts improved results
Acxiom Corp. reported improved first quarter earnings results on Wednesday, mainly on the strength of its companywide cost-cutting program and better operational efficiencies.
For the period ended June 30, Acxiom’s first quarter earnings jumped to $9.81 million, compared to $4.19 million a year ago. Acxiom said revenue increased by 5.6 percent in the current quarter to $270.4 million, compared to $256.0 million for the quarter ended June 30, 2009.
“I am pleased with our performance this quarter. Despite uneven economic recovery, we recorded solid year-over-year revenue growth of approximately six percent,” said Acxiom CEO John Meyer.
First Federal flips to profit
First Federal Bancshares of Arkansas flipped its fortunes from a year ago.
The Harrison-based savings and loan posted second quarter net income of $637,000 for the quarter ended June 30, 2010 compared to a net loss of $937,000 one year ago.
First Federal said that the improvement in its financial results were “primarily due to a decrease in the provision for loan losses.” The bank was hit hard by what it once termed the “the Great Recession of northwest Arkansas.”
CEO Larry Brandt predicted that the economy would avoid a double dip recession, but said the recovery will be “much slower than previously projected.”
Green grants available for renewable energy firms
The Arkansas Energy Office is making $2.7 million in stimulus funds available to existing “green” technology firms in Arkansas.
The Green Technology Grant Program targets companies that make or sell products that contribute to renewable energy production or storage, energy efficiency, or programs that result in an overall reduction in energy use. A single company may receive no more than 25 percent of the funds.
Arkansas’ Green Technology Grant Program funds will be distributed on a competitive basis, according to an energy office press release. For more information, contact the Arkansas Energy Office at 501-682-8067 or at www.arkansasenergy.org.
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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.
