Bemis Company Inc. Reports Operating Results (10-Q)
01.01.70
Highlight of Business Operations: Net
sales for the third quarter ended September 30, 2011, were $1.36 billion compared to $1.29 billion in the third quarter of 2010, an increase of 4.9 percent. Currency effects increased net sales by 2.3 percent compared to the same quarter of 2010, and acquisitions contributed 1.1 percent. The remaining 1.5 percent increase in net sales reflects higher selling prices partially offset by lower unit sales volumes.
For the third quarter of 2011, other operating (income) expense, net, included $4.9 million of fiscal incentive income, an increase of $1.4 million compared to $3.5 million for the third quarter of 2010. Government fiscal incentives are associated
with net sales and manufacturing activities in operations in Brazil and are included in business segment operating profit.
Performance for the first nine months of 2011 was negatively impacted by increases in the cost of raw materials which began during the fourth quarter of 2010.
Source: GuruFocus.com
Mudge must decide if Fifth District decision 'torpedoes' Employers Mutual ...
01.01.70
Madison County Circuit Judge William Mudge must decide whether Fifth District appellate judges who stopped a Lakin Chapman class action against Travelers Insurance also stopped one against Employers Mutual Casualty.
Mudge took it under advisement on Sept. 30, after a hearing where Employers lawyer Thomas Pender compared the Fifth District decision for Travelers to a torpedo.
In both cases, former circuit judge Daniel Stack certified class actions and appointed local chiropractor Frank Bemis as class representative.
Mudge asked Pender, "So you think this is the death knell in the kind of cases of this nature?"
Pender said, "Based on this provider agreement, which is the same provider agreement, yes."
"Based on the payor agreements which are virtually identical, yes," Pender said.
"It's the same class representative, Dr. Frank Bemis. It's the same complaint with the same four theories of recovery."
Robert Schmieder of Lakin Chapman
Source: Madison County Record