Public Companies

Lilly's second-quarter profits surge 16 percent

July 22, 2010
J.K. Wall
Indianapolis-based drugmaker Eli Lilly and Co. recorded profits of $1.3 billion, or $1.22 per share, during the three months ended June 30, even after paying $27 million in severance to laid off employees.
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Judge hears arguments challenging Emmis sale

July 20, 2010
Scott Olson
Common shareholders are challenging the proposed acquisition of the company by closely held JS Acquisition LLC, formed by Emmis Chairman and CEO Jeffrey H. Smulyan in an effort to take it private.
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Steel Dynamics profit up, but misses analysts' estimates

July 20, 2010
Bloomberg News
Net income was $49.2 million, compared with a net loss of $16 million a year earlier, the Fort Wayne-based steelmaker said Monday in a statement.
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Lilly reveals plans to cut 340 IT jobs

July 15, 2010
J.K. Wall
The Indianapolis-based drugmaker eliminated 140 information technology jobs in June through retirements, resignations and some cuts. Another 115 cuts will be made this month, and the remainder by the end of the year.
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Senator: For-profit colleges require tougher oversight

June 24, 2010
Bloomberg News
For-profit colleges like ITT Technical Institutes need tougher oversight and regulation, according to a report from a Democratic Senate committee chairman that questions the industry’s advertising spending, tuition costs and reliance on taxpayer money.
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Suitor extends tender offer for Emmis

June 24, 2010
Associated Press
JS Acquisition Inc., a company owned by Emmis Communications CEO Jeffrey Smulyan, extended its buyout offer to July 30.
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Duke Realty buying out joint venture partner for $298M

June 16, 2010
 IBJ Staff
Duke Realty Corp. plans to buy out its partner in a joint venture that owns 106 industrial buildings in the Midwest and Southeast, the Indianapolis-based company announced Wednesday.
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PROXY CORNER: Republic Airways Holdings Inc.

June 12, 2010
 IBJ Staff
Republic Airways Holdings Inc. provides scheduled passenger, charter and air freight services.
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Arcadia sees smaller quarterly, fiscal-year losses

June 11, 2010
Scott Olson
Despite losses, company sees growth in its DailyMed pharmacy services, which packages the right dosages of prescriptions to make it easier for patients to follow their regimens.
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Smulyan buyout plan could take Emmis full circleRestricted Content

June 5, 2010
Greg Andrews
The going-private deal he worked out—with New York-based Alden Global Capital—could result in another public offering five years from now.
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EnerDel's potential luring backers despite steep lossesRestricted Content

June 5, 2010
Peter Schnitzler
The parent of locally based lithium-ion battery maker EnerDel is putting together hundreds of millions of dollars in financing to fund a business plan that could bring revenue to nearly $1 billion within five years.
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Hurco suffers loss despite better sales

June 4, 2010
Indianapolis-based machine tool maker lost $1.5 million in its second fiscal quarter, which was much greater than the loss it reported in the same period last year.
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Shoe Carnival profit beats estimates

June 2, 2010
Evansville-based retailer earned $9.2 million in its fiscal first quarter, on strong sales of athletic and toning footwear.
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PROXY CORNER: Simon Property Group Inc.

May 29, 2010
 IBJ Staff
Simon Property Group Inc. is a real estate investment trust that owns, operates, manages, leases and develops regional malls and community shopping centers.
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HHGregg's profit slips despite higher revenue

May 27, 2010
 IBJ Staff
HHGregg had a profit of $10 million, or 25 cents per share, in the quarter ended March 31 on revenue of $417.2 million.
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Hat World to acquire Sports Avenue stores

May 27, 2010
 IBJ Staff
Locally based Hat World has agreed to acquire the assets of Sports Avenue, an Illinois-based competitor that operates 46 retail stores and 13 branded e-commerce sites. Terms of the deal where not disclosed.
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CEO Smulyan gets OK to take Emmis private

May 26, 2010
 IBJ Staff and Bloomberg News
Emmis Communications Corp. agreed to be acquired for about $90 million by closely held JS Acquisition LLC, a company formed by Emmis CEO Jeff Smulyan.
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Business bank reports first-quarter loss

May 25, 2010
Indiana Business Bancorp lost $519,043 in the first quarter compared with a profit of $32,252 during the same period a year ago.
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Simon plans to rejoin retail leasing event

May 24, 2010
Cory Schouten
Simon Property Group Inc. plans to rejoin the giant leasing mall at the annual ICSC convention in Las Vegas, where 25 percent of the nation's retail lease deals are consummated.
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Soft Landing: Pay slipped for most execs in 2009, but cuts weren't deep

May 22, 2010
Peter Schnitzler
Top executives at Indiana's public companies have largely been insulated from the economic crash. IBJ's review of executive pay found that, although 131 of the 238 executives listed in proxy statements the past two years saw annual compensation fall in 2009, only 10 experienced cuts of more than $1 million.
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Big stock run-up puts pressure on HHGregg to deliverRestricted Content

May 22, 2010
Greg Andrews
High expectations already are baked into HHGregg Inc.'s stock price, which has doubled since last May. A disappointment could spawn a sell-off.
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Jobless claims rise by largest amount in 3 months

May 20, 2010
Associated Press
Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday. It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.
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UPDATE: Arcadia confirms major growth plans

May 20, 2010
 IBJ Staff
Arcadia Resources Inc. is planning a $3.9 million expansion of its Indianapolis headquarters and pharmacy operations, the company said Thursday morning, confirming that it plans to add as many as 930 jobs by 2013.
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Arcadia Resources says it will add 930 jobs

May 19, 2010
Scott Olson
Executives of the health care services provider will be joined by Gov. Mitch Daniels and Mayor Greg Ballard for a Thursday morning announcement at the company's headquarters.
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Bioanalytical Systems reports loss in second quarter

May 17, 2010
 IBJ Staff
Bioanalytical Systems Inc. narrowed its losses in the second fiscal quarter despite a 2 percent drop in revenue, the West Lafayette-based contract research firm said late last week.
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