Thursday, April 17, 2003

Tristate summary

From staff and wire reports

Mycom reports smaller loss

Mycom Group of Cincinnati said Wednesday it posted a smaller first-quarter loss.

The technology provider reported a loss of $138,000 for the three-month period ended March 31, compared with a loss of $175,000 in the same quarter last year. Revenue fell to $1.8 million, down from $2.1 million.

Mycom shares were unchanged at three-fifths of a penny Wednesday, well off its 52-week high of a nickel.

Toyota unveils updated hybrid

Toyota Motor Corp., the first automaker to sell cars powered by a mix of gasoline and electricity, unveiled a larger, faster Prius hybrid, hoping to widen its lead in the market for more fuel-efficient vehicles.

The world's third-biggest automaker expects sales of the new model, which arrives at dealerships late this year, to be about 36,000 in the first year, Don Esmond, a top U.S. sales executive, said at the New York International Auto Show.

The 2004 model is a midsize hatchback that will replace the current compact version, and is expected to average combined city and highway fuel economy of about 55 miles per gallon, up from 48 mpg for the current version, Toyota said.

Consumer interest in hybrids rose as concern about a war in Iraq helped push gasoline prices up. Toyota, which has its North American manufacturing headquarters in Erlanger, and rival Honda Motor Co. sold a record 13,101 hybrid cars in the first quarter. With oil prices now falling, the cost of the fuel-saving technology, which adds at least $3,000 to a vehicle's price, may limit sales.

Huntington's earnings down 5%

Huntington Bancshares on Wednesday announced first-quarter earnings decreased by 5 percent, in part because the company changed how it classifies auto leases.

The Columbus-based company, which has 29 Tristate branches, said earnings were $87.3 million, or 37 cents per share, compared with $92.2 million, or 37 cents per share, the year earlier.

Shopping is easy when using electronic kiosk
Delta stands to get millions
Inflation hardly registers
Pink, blue and lavender Peeps come into season
Industry notes: Manufacturing
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