Economic Development
Losses mounting at Quad/Graphics
Sussex-based Quad/Graphics Inc. reported a second quarter net loss of $20.8 million, or 44 cents per share, compared with a net loss of $10.2 million, or 31 cents per share, in the same period a year ago.
Strattec caps strong fiscal year
Milwaukee-based Strattec Security Corp. reported fiscal fourth quarter net income of $3.2 million, or 97 cents per share, up from $2.7 million, or 81 cents per share, in the same period a year ago.
Magnetek’s profits rise
Menomonee Falls-based Magnetek Inc. reported second quarter net income of $3.2 million, or 99 cents per share, up from $1.2 million, or 37 cents per share, in the same period a year ago.
Drought takes toll on Briggs & Stratton
Milwaukee-based Briggs & Stratton Corp. reported a fiscal fourth quarter net loss of $8.4 million, or 18 cents per share, which was an improvement over a net loss of $17.8 million, or 36 cents per share, in the same period a year ago.
Kohl’s earnings dip
Kohl's Corp. reported second quarter net income of $240 million, or $1.00 per share, down from $299 million, or $1.08 per share, in the same period a year ago.
IMS earnings grow
New Berlin-based International Monetary Systems Ltd. reported second quarter net income of $98,647, up from $77,196 in the same period a year ago.
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Rockwell acquires Chinese manufacturer
Milwaukee-based Rockwell Automation Inc. announced it has agreed to purchase the assets of the medium voltage drives business of Harbin Jiuzhou Electric Co. Ltd. of China for $83 million.
Trade deficit stifles growth
Today, the Commerce Department reported the deficit on international trade in goods and services was $42.9 billion in June.
Wisconsin Bank & Trust to merge with First National
Heartland Financial USA has announced Wisconsin Bank & Trust will acquire First Shares Inc., the parent company of First National Bank in Platteville, for $11 million.
Chicago can’t be Milwaukee’s savior
Some big thinkers, looking for big answers for the troubles afflicting the Milwaukee economy, keep looking south to Chicago.