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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Feb 04, 2004
Page
16
Cisco Systems Inc posted stronger than expected quarterly earnings and sales as firms worldwide increased spending on network equipment. For the three months ended Jan 24 the company earned 724 million dollars or 10 cents a share vs 991 million or 14 cents a year earlier, below analysts’ 17 cent per share forecast.
Delta Air Lines plans a costly makeover of its employee uniforms, hiring designer Richard Tyler to craft a sexier, more classy look for flight attendants and airport staff. The move comes as Delta cuts costs after losing over $3 billion in three years and laying off 16,000 workers since 9 11. A New York flight attendant and union advocate questioned spending amid pay and benefit reductions.
Mattel Inc. reports fourth quarter net income of 213.9 million dollars, 49 cents per share, up from 186.1 million dollars, 42 cents. International sales and favorable exchange rates offset weak domestic demand as the company warns of tough times ahead and outlines a plan to modernize Barbie to reflect youth culture.
Markets slowed for a second session amid renewed terrorism fears after ricin powder forced Senate building closures. With thin trading, the Dow edged up 6.00 points to 10,505.18, while broader gauges finished narrowly higher.
Douglas County posted a record 2,065 home sales in 2003, up 9 percent from the 2001 peak and 13 percent from 2002. Low mortgage rates fueled activity, with Coldwell Banker McGrew Real Estate and Hedges Real Estate reporting strong gains and notable interest from first time buyers and investors.
Sprint Corp reported a fourth quarter profit of 38 million, with its wireline and wireless units beating expectations. Revenue rose to 6.68 billion as analysts anticipated outsourcing about 5,000 to 6,000 jobs to IBM and a sale of Sprint services to IBM customers. Sprint FON earned 360 million on 3.54 billion revenue while Sprint PCS posted a 322 million loss on 3.31 billion revenue.
The 2002 Census of Agriculture shows the U S farms fell from 2.21 million in 1997 to 2.12 million, average size rose from 431 to 441 acres, with 939.5 million acres farmed nationally. Kansas counted 64 348 farms, down from 65 476, and 47 22 million acres under cultivation, amid shifting farm sales.
AP reports Amazon.com will start collecting Kansas sales tax from April 1 as part of the state’s destination based tax changes. Rich Prem said the Seattle firm has worked with Kansas since July and will remit taxes from the Coffeyville distribution center employing 375. Estimated annual tax intake is one to 1.2 million dollars. Kansans currently owe use tax for out of state or online purchases.
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