Posted on April - 22 - 2010
Coffee Break: Profits climb for steelmaker Nucor
Nucor Corp. said Thursday its first-quarter earnings jumped sharply as consumers bought more durable products like appliances and automobiles, but the construction businesses remained challenging.
For the quarter that ended April 3, Nucor said it reversed a loss and posted net income of $31 million, or 10 cents a share. A year ago, Nucor had a net loss of $189.6 million, or 60 cents per share. Nucor operates a steel mill on Presidents Island.
BancorpSouth earnings
BancorpSouth achieved net income of $8.4 million during the first quarter that ended March 31, the Tupelo-based bank reported Thursday.
“BancorpSouth has operated effectively in a stressful economic environment that has continued to challenge the financial services industry,” chairman and CEO Aubrey Patterson said. “As throughout 2009, our new loan production for the first quarter of 2010 essentially offset loan runoff.”
Total assets fell from $13.5 billion on March 31, 2009, to $13.2 billion this March 31. But total deposits grew 8.9 percent, to $11 billion.
Nonperforming loans and leases increased to $235.7 million from $73.8 million a year ago. Of the nonperforming loans, $171.3 million are impaired loans.
In brief …
MIFA has received a $10,000 grant from the Kroger Foundation to support the organization’s Meals on Wheels program. It’s the foundation’s third consecutive annual gift to MIFA.
Tactical Magic has examples of its logo and ad campaigns featured in two new books. “LogoLounge Master Library, Vol. 1,” includes trademarks for six clients; “The Designer’s Graphic Stew” features an ad for Zambezi Studios.
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