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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. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

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