Chester County Daily News Business Briefs

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VISTA Today Daily News Business Briefs are concise stories that bring you up to date with what’s going on around Chester County. This morning:

Local Farms Saved by Open Space Program

As a part of the county’s Open Space program for agricultural preservation, the Chester County commissioners last week approved grants totaling nearly $850,000 to preserve three family farms.

The programs within the Open Society Preservation initiative are designed to preserve the most productive, non-irrigated, agricultural soils in the world. They also aim provide adequate local and County park and recreational opportunities and preserve important natural areas.

Each farm was recommended for a grant by the county’s Agricultural Land Preservation Board then approved by a unanimous vote by the commissioners.

The largest grant is for $464,850 to a Honey Brook couple who own 103 acres of farmland there, followed by a grant of $295,218 to a couple in East Nottingham who own a 54-acre farm. The final grant is for $89,775 to a West Nantmeal couple with a 52-acre farm.

AmerisourceBergen Reports Strong Third Quarter

Stephen H. Collis AmerisourceBergen
Steven H. Collis, AmerisourceBergen CEO.

AmerisourceBergen has released third quarter earnings for its 2015 fiscal year showing a gain of 18.8% for its adjusted diluted earnings per share to $1.20, and revenue up12.8% at $34.2 billion.

The Chesterbrook based pharmaceutical and distribution services company reported gross profit in the fiscal 2015 third quarter as $1.0 billion, a 22.4% increase over the same period in the previous year, driven by strong revenue growth in its Drug Corporation and Specialty Group.

“Strong performance in our June quarter positions us very well to meet our financial and strategic objectives for the full year,” said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer, “the strength of our presence in key growing markets has put us on course to deliver adjusted earnings per share growth of over 20% for the second consecutive year.”

Sikorsky
The Sikorsky Aircraft facility near Coatesville. –via Pete Bannan, Daily Local News

Criminal Investigation Not Expected to Affect Sikorsky Close

On the heels of Sikorsky’s $9 billion sale to Lockheed Martin, the US Department of Justice has reportedly launched a criminal investigation against United Technologies for allegedly overbilling the US Navy for a contract.

In 2006, Sikorsky Support Services secured a navy contract to support T-34 and T-44 fixed-wing turboprop training aircraft, through which it subcontracted another Sikorsky unit Derco Aerospace to provide spare parts.

The US Government alleges that the company overcharged the navy under this contract from 2006 to 2012.The department is seeking up to $148 million in damages and fines from the company.

UTC spokesman said: “Sikorsky and its subsidiaries intend to cooperate fully in the investigation, which was discussed as part of the transaction with Lockheed Martin and is not expected to affect the close.”

 

Ray Bixler SkillSurvey
Ray Bixler, CEO of SkillSurvey in Wayne.

SkillSurvey Delivers Enviable Growth in First Half of 2015

Wayne based SkillSurvey says that new bookings for its services have increased 75% percent for the first half of 2015 compared to the same period last year.

Two key industry segments, Healthcare and the Staffing and Recruiting Industry, are fueling the growth. SkillSurvey is the leading provider of hiring solutions that address critical points in the talent lifecycle and an online automated reference checking provider.

“More and more customers recognize the value that SkillSurvey delivers by helping their organizations to improve their talent profile and hiring processes,” said Ray Bixler, SkillSurvey’s President and CEO. “Our innovative cloud-based solutions help employers make better and more informed data-driven hiring decisions.”

Advantage to Celebrate 10 Successful Years

West Chester based Advantage Building & Facility Services will be celebrating its 10th anniversary on August 1.

Advantage is a regional property management company with a strong maintenance division. Established in 2005 in Exton, the company was the vision of founder Trish Faidiga. Her years of experience in the commercial real estate industry granted the company access to a strong support system and a vast network of industry peers.

Advantage is rooted in Chester County and this network has expanded in recent years to include all of eastern Pennsylvania, New Jersey, Delaware, Maryland, Virginia and Washington, D.C.

 

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