Drew Industries leaders to talk about earnings
Drew Industries Inc., a manufacturer of components for the recreational vehicle and manufactured housing industries, will release its third quarter 2013 financial results before the market opens Nov. 1.
Drew officials will host a conference call Nov. 1 at 11 a.m. to discuss the company’s results and other business matters.
Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. Others are invited to listen to a live webcast of the call on Drew Industries’ website at www.drewindustries.com.
Participating in the conference call will be: Leigh Abrams, chairman, Jason Lippert, chief executive officer, Scott Mereness, president, and Joe Giordano, chief financial officer and treasurer.
Drew Industries operates Kinro and Lippert Components.
Horizon Bancorp earnings dip
Horizon Bancorp today had lower income in its third quarter and an income increase for its first nine months.
According to the company, third-quarter net income declined 1.3 percent compared to the same period in 2012 to $4.8 million, or $.52 diluted earnings per share. The company attributed the decline to lower income from residential lending, including mortgage warehousing, as demand for mortgage refinancing slowed.
Net income, according to the company, for the first nine months of 2013 rose 9.7 percent compared to the same period in 2012 to $15.8 million or $1.72 diluted earnings per share, the highest first nine months of net income in the company’s history.
Book value per share increased to $14.82 as of Sept. 30 compared to $14.42 and $13.85 at June 30 and Sept. 30, 2012, respectively.
Bank has donations for anniversary
To honor its 150th anniversary, 1st Source Bank is inviting the community to help give away money to charitable organizations. One-hundred-and-fifty $1,000 donations, plus two $15,000 donations will be awarded.
The nominations open Monday with people having the opportunity to nominate their favorite charity to receive a donation. Nominations can be made at any 1st Source banking center or online at 1stsource.com/150.
Nominations will be accepted through Nov. 30. $1,000 recipients will be selected weekly on the quantity and quality of entries received. Two $15,000 recipients will be selected from all entries received and announced the week of Dec. 14.
Twitter’s IPO to get a dry run
The New York Stock Exchange isn’t taking any chances with Twitter’s initial public offering.
The Big Board said Friday it would allow trading firms to conduct a dry run of their systems to prepare for Twitter’s IPO. The NYSE test will occur on Saturday, according to a notice sent out to traders.
The exchange seems to want to avoid the technical problems that marred Facebook’s debut on the Nasdaq Stock Exchange in May 2012. The glitches were a major embarrassment for Nasdaq, and resulted in a big fine.
The micro-blogging service is expected to go public sometime in November, possibly before Thanksgiving. It will trade under the ticker “TWTR” on the NYSE.
Twitter’s IPO is the biggest technology debut since Facebook’s. While Nasdaq won Facebook’s listing, one of the biggest IPOs in years, the debut was hit with trading delays and order failures. As a result, the Securities and Exchange Commission in May fined Nasdaq $10 million, the largest ever levied against an exchange.
Twitter said last week that it had chosen to list with the NYSE over rival Nasdaq.