You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Twitter 2Q results soar, stock flies high
    Stronger-than-expected results pushed Twitter’s stock sharply higher on Tuesday after the short messaging service said its revenue more than doubled in the second quarter.
  • Small cars fare poorly in crash tests
    The four-door Mini Cooper Countryman was the only one of 12 cars to earn a top rating of “good” in new frontal crash tests.
  • US consumer confidence jumps to 90.9 in July
    U.S. consumers are more confident about the economy than they have been in nearly seven years.  The Conference Board’s confidence index rose to 90.9 in July from an upwardly revised 86.
Advertisement

Franklin Electric quarterly earnings up 10%

Franklin Electric Co. Inc. on Tuesday reported first-quarter earnings of $17 million, or 35 cents per diluted common share, a 10 percent increase from the $15.5 million, or 32 cents a share, posted for the same three months of 2013.

After various adjustments, Franklin Electric’s earnings for the quarter ended March 31 set a record for any quarter in the company’s history. The company also reported record sales of $231.4 million, a 4 percent increase from last year’s first quarter.

The Fort Wayne-based company designs and makes submersible motors and pumping systems used to move water and fuel. Customers include homeowners, municipalities, and companies in commercial, agricultural and industrial industries.

Franklin Electric has scheduled its annual shareholder meeting for 9 a.m. Friday, the same day that Scott Trumbull will retire as CEO. Gregg Sengstack, president and chief operating officer, will become CEO. Trumbull will be non-executive chairman of the board.

Advertisement