Business news briefs
better Q3 results
Overstock.com, the Utah-based online discount retailer, reported its 2012 third-quarter revenue hit $255.4 million, a 7 percent increase from the $239.7 million generated in the same period a year ago. Net income was $2.7 million, or 11 cents per share, compared with a loss of $7.8 million, or 33 cents per share, in the third quarter of 2011.
Orem tech facility
earns LEED Gold
The new 88,000-square-foot Samuel H. and Marian K. Barker Health Technology Building on the Ogden-Weber Tech College campus has been awarded a Gold LEED certification from the U.S. Green Building Council. It was designed by GSBS Architects. LEED certification is based on factors that include a building's energy usage, carbon dioxide emissions and efficient water use.
Utah Medical sees
Q3 sales increase
Utah Medical Product Inc., Midvale, reported a 3 percent increase in sales to $10.5 million in the third quarter over the same period last year, and a 22 percent increase in net income to $2.7 million. Earnings per share were 73 cents, up from 61 cents in the third quarter of 2011, an increase of 19 percent.
Stoel Rives' SLC
The Salt Lake City office of the law firm of Stoel Rives was honored with the 2012 Alfred P. Sloan Award for Business Excellence in Workplace Flexibility. As a recipient of the award, Stoel Rives ranks in the top 20 percent of employers nationally that offer flextime, part-time work and compressed work weeks to help create an attractive workplace for its employees.
Weekly applications for U.S. unemployment aid fell last week to 369,000, a level consistent with modest hiring. The Labor Department said unemployment benefit applications dropped by 23,000, from a revised 392,000 the previous week. When aid applications fall below 375,000, it suggests hiring is strong enough to lower the unemployment rate.
PepsiCo Inc. has invested $170 million in a new factory in Thailand to stay ahead in one of the few markets where it outsells Coca-Cola after ending a long-standing bottling agreement with a local company. The plant, located in an industrial estate 90 miles southeast of Bangkok, is one of PepsiCo's largest beverage facilities in the world. It will start production on Nov. 2.
1,500 U.K. jobs
Carmaker Ford said it will cut 1,500 jobs in Britain, closing a plant and eliminating a stamping and tooling facility, as it warned that losses in Europe will exceed $1.5 billion this year. Earlier this week, Ford announced the closure of another plant in Brussels. Ford is struggling in Europe as the region's economic crisis hurts demand for its automobiles.