Archive: Manufacturing

W.R. Grace, Former Executives Acquitted

Columbia-based W.R. Grace & Co. and three former executives were acquitted today on charges that they knowingly let residents of Libby, Mont., be exposed to asbestos from a mine there. Shares of the company rose more than 30 percent on the news. The trial began in February, and the jury...

By Terri Rupar | May 8, 2009; 02:51 PM ET | Comments (0)

Danaher Expands Job Cuts

Manufacturing conglomerate Danaher said Monday evening that it would take further measures to cut costs as the global economic downturn hampers its ability to grow through acquisitions and slows sales. The company said it would cut a total of 1,700 jobs and close 13 factories in the fourth quarter as...

By Terri Rupar | December 9, 2008; 03:26 PM ET | Comments (0)

Harman to Step Down as Chairman

An updated version, with an interview with Sidney Harman, by staff writer Thomas Heath Sidney Harman said he will retire in July as chairman of Harman International Industries, ending a five-decade tenure at the head of the high-end sound equipment maker he founded here. "I have worked hard to ensure...

By Terri Rupar | May 29, 2008; 10:32 AM ET | Comments (0)

Harman Shares Tumble on Reduced Forecast

Harman International Industries today slashed its earnings forecast for the current fiscal year, sending the District-based consumer electronics manufacturer's stock tumbling to its worst single-day performance in 21 years. Shares of Harman dropped $25.97, or 37.6 percent, to close at $43 in New York Stock Exchange trading. The company...

By Mike Shepard | January 14, 2008; 02:37 PM ET | Comments (0)

Danaher Reports 80 Percent Jump in Quarterly Profit

From the Associated Press Danaher, a manufacturing conglomerate whose products include dental instruments and Sears' Craftsman tools, said Thursday its third-quarter earnings jumped 80 percent on a lower-than-expected tax rate and a one-time business sale gain. The District-based company earned $483.7 million, or $1.48 per share, compared with $268.1 million,...

By Mike Shepard | October 18, 2007; 06:39 PM ET | Comments (0)

Smithfield Foods to Export Pork to China

An outbreak of a deadly disease among Chinese pigs has created a business opportunity for Virginia-based Smithfield Foods, which today announced an agreement to ship 60 million pounds of pork to China. Smithfield said it would deliver the pork by the end of December to an unnamed Chinese trading company....

By Mike Shepard | August 24, 2007; 02:58 PM ET | Comments (7)

Smithfield Foods Profit Jumps

From the Associated Press Smithfield Foods said today its fiscal first-quarter profit more than doubled, largely because of higher pork and beef sales and a smaller loss from discontinued operations. (See the company's news release.) The Smithfield, Va.-based company's earnings for the period ended July 29 increased to $54.5 million...

By Mike Shepard | August 23, 2007; 10:34 AM ET | Comments (0)

Housing Slump Hurts American Woodmark Results

American Woodmark, one of the nation's largest makers of kitchen cabinets and bathroom vanities, today blamed the housing slump for a 62 percent drop in its first quarter profit and pared back its earnings forecast for the rest of the fiscal year. In a statement, the Winchester company said its...

By Mike Shepard | August 22, 2007; 07:06 PM ET | Comments (0)

Danaher Profit Tops Analysts' Expectations

Washington-based Danaher Corporation, which makes everything from hand tools to fire suppression systems, posted a second-quarter profit of $311 million, or $0.96 per diluted share. That's down from the $314 million (or $0.98 a share) the company earned in the same quarter last year, but a bit better than what...

By Mike Shepard | July 19, 2007; 02:49 PM ET | Comments (0)

Manufacturers Gain Say On Retail Prices

Post staffers Ylan Mui and Robert Barnes report this morning on a Supreme Court ruling overturning an antitrust rule that prohibited manufacturers from dictating minimum prices on their goods. The court said such pricing actions must be considered on a case-by-case basis and do not constitute a de facto antitrust...

By Dan Beyers | June 29, 2007; 06:52 AM ET | Comments (0)

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