Friday, April 11, 2003

Tristate summary



From staff and wire reports

Scripps has 32% increase for Q1

Cincinnati's E.W. Scripps Co., parent of the Cincinnati Post, Thursday said first-quarter earnings increased 32 percent, reflecting strong performance by the company's cable television channels.

But the results fell 2 cents a share short of Wall Street estimates, and the media company offered an earnings forecast for the second quarter below current expectations. Scripps shares fell 89 cents, or 1.1 percent, to close Thursday at $78.50.

For the three months ending March 31, the media company that owns newspapers, TV stations and a news service earned $52.7 million, or 65 cents a share, up from $39.9 million, or 50 cents a share, in 2002. Revenue increased 29 percent to $445.2 million from $344.7 million a year earlier.

P&G lays off 275 at Pringles plant

Procter & Gamble Co. will cut 275 jobs from its plant that makes Pringles snacks in Jackson, Tenn., it said this week.

The plant employs 1,165 people. After several years of modernizing the plant to improve productivity, fewer workers are needed there, P&G said.

Intrieve records best year ever

Intrieve, a Cincinnati company that develops bank technology systems, said it had its best year ever in 2002, posting $2.1 million in net income from $37.8 million in revenue.

The revenue figure represented a 26 percent increase from the fiscal year ended Jan. 31, 2001.

Intrieve, whose headquarters is downtown, provides technology for banks, thrifts and credit unions from around the country and with assets of up to $1 billion. It said it added 22 new clients in 2002.

The company said it completed its acquisition of First National Systems Corp., a maker of accounting software for financial institution, in January. The deal added 205 clients to Intrieve's customer base.



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