Business news in brief

Central European Distribution Corp., the Bala Cynwyd maker and distributor of vodka and other liquors in parts of Eastern Europe, said yesterday that it raised its 2007 fully diluted earnings-per-share guidance to $1.56 to $1.72 from its earlier estimate of $1.50 to $1.66. The company said its full-year net sales revenue likely would be in the range of $1.1 billion to $1.15 billion from an earlier estimate of $1.05 billion to $1.1 billion. Company shares closed up $1.61 - 4.7 percent - at $36.03. William V. Carey, president and chief executive officer, said the company was continuing to see "strong underlying growth in our core brands both produced and imported," in addition to falling prices on raw spirits. The company also released 2008 earnings-per-share guidance of $2 to $2.10 and full-year net sales guidance of $1.2 billion to $1.3 billion.

- Inquirer Staff

Phone company XO Holdings Inc. said it began offering broadband wireless service to commercial customers in the Philadelphia region, Wilmington, Pittsburgh and 21 other new markets around the country. XO, Reston, Va., maintains 245 miles of fiber-optic cable in Philadelphia and its suburbs. The company has $1.4 billion in annual revenue.

- Reid Kanaley

Purolite Co., one of the world's largest manufacturers of ion-exchange resins for treating water, said it would boost prices worldwide 5 percent Aug. 1 because of high prices for raw materials, transportation and energy. The privately owned company is based in Bala Cynwyd and has a plant in Philadelphia. It also has operations in Europe and Asia.

- Bob Fernandez

Safeguard Scientifics Inc., Wayne, has announced an $8.7 million financing package for Cellumen Inc., Pittsburgh. Safeguard, a holding company that invests in growth-stage technology ventures, said it had provided $6 million of the financing. Venture capital firm PA Early Stage Partners, Wayne, an early Cellumen backer, contributed $2 million in the latest round, Safeguard said. Cellumen is developing services and products to support other companies in drug discovery and development. It will use the new investment for hiring and product development. Safeguard shares closed down 7 cents at $2.60 on the New York Stock Exchange.

- Reid Kanaley

Philadelphia's Rohm & Haas Co. has signed an agreement to sell its UCD Colorants pigments business to NB Coatings Inc. of Illinois. Terms were not disclosed. The deal is part of Rohm & Haas' strategy to exit the auto-paint business. The deal is expected to close Friday. Rohm & Haas shares closed down 78 cents at $54.39 on the New York Stock Exchange.

- Bob Fernandez

Encorium Group Inc., Wayne, which performs clinical trials and patient registries for pharmaceutical firms, said it had signed two clinical-trial contracts totaling $3 million for women's health indications. The trials, with a U.S. biotechnology company that Encorium identified as a past client, will be performed in Europe.

- Karl Stark

Hours after Standard & Poor's warned it may cut the credit rating of more than $12 billion in bonds backed by risky home loans, another agency downgraded its rating on hundreds of similar securities. Both S&P and Moody's Investors Service said they made the moves because borrowers were missing mortgage payments at levels much higher than anticipated. The concern is significant because the bonds represent a principal source of financing for the housing market. Lower ratings for mortgage-backed bonds could cause a domino effect that might strangle what until this year was a major propellant of home prices: easy access to money. The ratings services are focusing on bonds backed by subprime-mortgage debt, or loans to people with spotty credit histories.

- AP

The jury weighing fraud charges against former Hollinger International Inc. chairman Conrad Black and three codefendants resumed deliberations under orders from the trial judge after deadlocking on some charges. "We have discussed and deliberated on all the evidence and are still unable to reach a unanimous verdict on one or more counts," the jury said in a note in federal court in Chicago. "Please advise. P.S. We have read jury instructions very carefully." U.S. District Judge Amy St. Eve told the jury, which has deliberated nine days, to resume work, which the panel did. After receiving the note, St. Eve said: "I will not accept a partial verdict at this time."

- Bloomberg News

Supermarket billionaire Ron Burkle and Web entrepreneur Brad Greenspan are exploring the possibility of combining forces on a bid for Dow Jones & Co. Inc. to thwart a takeover by Rupert Murdoch's News Corp., according to a person familiar with the situation. The person asked not to be named because the discussion was in an early, exploratory phase. It was far from certain that a formal offer for the owner of the Wall Street Journal would follow. A spokesman for Burkle's investment firm, the Yucaipa Cos., did not return messages seeking comment. Greenspan and a lawyer for the Bancroft family also did not return messages.

- AP

Sprint Nextel Corp. isn't apologizing for its decision to ax customers it determined were calling customer service too often. The wireless provider sent letters to about 1,000 subscribers June 29, saying the company's records showed they had made frequent calls for help with questions about billing and other account information. The customers were told their service agreements were being terminated, they would not owe anything on their final bill, and the company would waive early-termination fees. They also were told to switch to another wireless provider by July 30 if they wanted to keep their phone number. A spokeswoman said the targeted subscribers each made an average of 40 to 50 calls a month to customer service.

- AP

Taiwan's army wants to buy 30 Boeing Apache attack helicopters from the United States, an official said, in a deal that would almost certainly roil rival China. Col. Dai Kuang-chao said the military opted for the Boeing AH-64D Apache Longbow over Bell's AH-1Z Cobra because it better suited the army's needs. The deal, worth $1.5 billion, must be approved by the U.S. government and Taiwan's Legislature. China can be expected to pressure Washington not to approve the sale, in line with its efforts to prevent Taiwan from procuring sophisticated military equipment from abroad. The two sides split amid civil war in 1949, and China continues to view Taiwan as part of its territory. It has threatened to attack if the democratically run island makes its de facto independence permanent.

- AP