Chester County Daily News: Business Briefs

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West Pharmaceutical
West Pharmaceutical reported some second quarter sales were down 2.5% from the same period last year.

VISTA Today’s Daily News: Business Briefs keep you up to date with concise summaries of what’s going on around the county every day. This morning:

West Pharmaceutical Services Shows Mixed Second Quarter Results

West Pharmaceutical Services has posted financial results for its second quarter and updated financial guidance for the full year.

The Exton based company, which develops, manufactures, and sells components and systems for the packaging and delivery of injectable drugs reported sales of $359.7 million, a decline of 2.5% from to the same period last year.

Better news came from its net sales, which were up by 7.4%, while diluted EPS was $0.38. EPS comparisons to the prior-year period are tricky as there is an adjustment of approximately $0.09 due to currency effects.

The revised full-year adjusted diluted EPS forecast is predicting that it will be between $1.74 and $1.84, a $0.05 increase to the lower-end of the range from its previous guidance. It also announced its 23rd dividend increase to $0.12 for Q4 2015.

Local Issues Highlighted in “Community Matters” Performances

Community Matters is presenting a series of free plays and to spark dialog about vital issues in local communities.

The centerpiece of each evening will be performed readings of new plays, followed by a discussion with the artists, community partners, and special guests.

The series is presented in partnership with Malvern based People’s Light and numerous local organizations and features a number of high profile guest actors for the readings, including Laura Gómez (Orange is the New Black), Raúl Castillo (HBO’s Looking), and Bobby Moreno (Year of the Rooster).

The theatre’s New Play Frontiers program, is an initiative that brings leading American playwrights to People’s Light and provides the new plays aimed at exploring our American identity through stories that resonant with local residents.

New Play Frontiers was launched in 2012 with a grant from the Pew Center for Arts & Heritage, and is supported by the Barra Foundation, the Andrew W. Mellon Foundation, and the National Endowment for the Arts.

USSC Partners with Dubin Clark & Co.

USSC is partnering with Dubin Clark & Co, a private investment firm with a 30-year history of investing in and building up mid-sized companies by working with the existing management.

The partnership with Dubin Clark will allow Exton based USSC, a leading manufacturer of innovative safety and survivability solutions, to continue its growth both organically and selective acquisitions. As a part of the deal, members of the USSC executive team have taken a personal stake in the business as well.

“We are excited to be partnering with Dubin Clark,” said Christian Hammarskjold, CEO at USSC. “Dubin Clark has a strong, national reputation for facilitating company growth and developing new strategies. This partnership with Dubin Clark will enable us to reach our future goals.”

QVC Enters French Television Market

QVC, the world’s leading video and ecommerce retailer, announced its official entry into France’s television market on Wednesday, with the launch of an immersive digital shopping experience with integration across ecommerce, TV, mobile and social platforms.

After launching online at QVC.fr with 46 brands in June, QVC France began its video programming distribution on August 1. The new network plans to offer nearly 300 international and French brands by the end of 2015. At present, the channel offer products such as beauty, jewelry, apparel, home and accessories.

“In recent years, France’s digital infrastructure and ecommerce offerings have evolved considerably, making it a prime market for QVC’s continued global expansion,” said Mike George, President and CEO of West Chester based QVC.  “Shopping with QVC is as simple as turning on your TV, grabbing your smartphone or tablet, or browsing the web, which will appeal to French shoppers looking for a unique, fun and engaging experience.”

 

ISSC Posts Disappointing Third Quarter Performance

Innovative Solutions & Support (ISSC) has reported its third quarter results for the period to June 30.

Revenues for Q3 were $4.9 million, compared to $10.6 million for the same period last year. Cash from operating activities was $150,000 for the quarter, a significant drop from $813,000 the year before.

The company ended the quarter with a net loss of $3.5 million, or $0.21 per share but points to increased investment in its internal research and new product development. The company has $3.4 million in new orders and a current backlog of $4.8 million down from $6.3 million last quarter.

“While we reported an operating loss for the quarter, we increased cash flow from operations by nearly a million dollars from the third quarter of last year” said Geoffrey Hedrick, Chairman and Chief Executive Officer, “We are focused on rebuilding our backlog through aggressive marketing and product innovation.”

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