Tuesday, July 13, 1999

TRISTATE SUMMARY


GE Aircraft, others get fighter engine contract

        A team that includes GE Aircraft Engines has received a $440 million contract to continue development of an alternative engine for the Joint Strike Fighter, envisioned as the primary fighter for U.S. armed forces and the British Royal Navy in the 21st century.

        The contract includes a firm commitment for $115 million and an option for $325 million for engine development activities from October 2000 to September 2004. The new contract calls for full engine testing during the second half of 2003.

        The JSF-F120 engine team also includes Allison Advanced Development Co. in Indianapolis, Rolls-Royce Plc and Philips Machinefabiek in the Netherlands.

LCA-Vision, Cole sign marketing agreement
        Cincinnati's LCA-Vision Inc. has signed a marketing agreement with Cole National Corp. of Cleveland that would allow LCA to provide corrective laser eye surgery through Cole's managed vision-care program.

        Under the agreement, the financial terms of which were not disclosed, LCA would establish a nationwide network of providers, including its own centers, individual surgeons and other laser vision correction centers.

        Cole would then market the new LASIK Network to the more than 50 million members of its vision-care program, marking the first time that laser vision correction has been offered nationwide through an insurance program, both companies said.

Convergys gains Pfizer 5-year service contract
        Convergys Corp. has won a five-year contract to operate a service center for Pfizer Inc.'s employees from its Jacksonville, Fla., call center.

        Financial terms weren't disclosed, but Convergys said it would provide health and welfare benefit and personal data services for 14,000 Pfizer employees. All U.S.-based new hires at Pfizer will call the employee service center to start payroll and benefit choices, Convergys said.

E.W. Scripps' earnings rise in second quarter
        Revenue growth in classified and national advertising at E.W. Scripps Co. newspapers, coupled with surging revenues in category television, lifted second-quarter earnings for the firm.

        Earnings for the quarter ended June 30 were $44.2 million, or 56 cents a share, compared with $36.4 million and 45 cents a year ago, Scripps said Monday. Newspaper advertising revenues during the quarter increased 6.5 percent to $172 million. Revenues from Scripps' broadcast television stations fell 8 percent to $81.6 million, from $88.7 million a year ago.

        Revenues were up 55 percent at Scripps' two cable channels, Home & Garden Television and the Food Network, to $18.1 million from $11.6 million. Sept. 30, the company plans to start a third cable channel called Do-It-Yourself, or DIY, designed to be used with interactive services.

Meridian gets FDA approval for herpes test
       

        Meridian Diagnostics Inc., a Cincinnati-based maker of medical diagnostic test kits, said Monday it has received Food and Drug Administration (FDA) approval to market two diagnostic tests for the herpes simplex virus. The blood tests are the first medical tests cleared by the FDA that have been proven to be able to distinguish the Type 1 herpes simplex virus, or oral herpes, from the Type 2 virus, or genital herpes, Meridian said.

       



Fifth Third gains Peoples
Dillard's at Kenwood loses day to inventory
INDUSTRY NOTES: BANKING
- TRISTATE SUMMARY
PEOPLE ON THE MOVE
TRISTATE MARKET SPOTLIGHT