Friday, May 11, 2001

Tristate Business Summary

P&G promotes 3 in global business

        Procter & Gamble Co. promoted Jorge S. Mesquita, 39, vice president of North American fabric care, to president of the company's global home-care unit.

        P&G also named Dimitri Panayotopoulos, 49, president of its Central and Eastern Europe, Middle East and Africa business and promoted Laurent Philippe, 49, to president of China operations. The changes take effect July 1.

Pomeroy sees earnings decline

        The slowdown in information technology spending resulted in lower first-quarter revenues and earnings for Pomeroy Computer Resources Inc., the Hebron-based computer sales and service provider.

        For the three months ended April 5, Pomeroy said net income declined more than half to $2.9 million, or 23 cents a share, from $6.3 million, or 52 cents a share, a year ago. The latest quarter included a one-time charge of $1 million, or 5 cents a share, for settlement of a long-standing lawsuit by a competitor.

        Revenues were down 7.5 percent to $195.7 million from $211.6 million a year ago. The company cautioned earlier revenues could be down as much as 10 percent in the quarter.

Cintech takes loss for quarter

        Losses widened at Cintech Solutions in its fiscal third quarter.

        Chief executive Diane Kamionka said there's evidence that the situation is stabilizing and that sales of the company's software will improve.

        For the third quarter ending March 31, Cintech lost $561,308, or 5 cents a share, on sales of $1.3 million. That compares with a year-ago profit of $504,512, or 4 cents a share, on sales of $2.8 million.

— From staff and wire reports


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