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Fortune ekes out profit on falling revenue

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Indianapolis-based Fortune Industries Inc. managed a small profit in its third quarter and now has turned a profit in each of its last three quarters, the company announced this morning.

Profit for the quarter ended May 31 rose to $318,000 from a loss of $2.9 million in the same period a year ago.

Revenue fell to $15.4 million compared with $40.2 million the same time last year—a 61-percent decrease.

Fortune, a professional employer organization, sold all of its non-PEO subsidiaries late last year, switching from a diversified holding company into strictly a PEO. PEOs provide outsourced human-resources related services to small-and medium-size businesses.

“Our emergence as a pure-play PEO last December has allowed us to attain positive earning for the first three quarters of our fiscal year, and we expect to continue this trend trough our fiscal year-end, Fortune CEO John Fisbeck said in a statement.

Fortune shares closed at 54 cents each on Friday, down from their 52-week high of $1.35 last July.

 

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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

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