Short takes on business in the Philadelphia region, from The Inquirer's Business Desk. For more, go to http://go.philly.com/phillyinc.
Don't disappoint the analysts was the message for Exton's Kensey Nash Corp., which makes biomedical equipment. Its shares tumbled 14 percent on Monday and never recovered after it reported earnings of about 19 cents a share, when analysts expected 21.
All in the family
Since 1982, Deb Shops Inc. of Philadelphia has leased 280,000 square feet of space from Blue Grass Partnership, which includes chief executive Marvin Rounick, his brother Jack A. Rounick, the company's secretary and treasurer, plus other executives and their spouses. In June, a year before its expiration, the lease was extended to 2012, according to a filing at the SEC. Deb Shops paid $550,000 for the space in the year ended Jan. 31, and still must pay $3.6 million. The company called the arrangement "fair, reasonable, and consistent with the terms that would have been available to us if made with unaffiliated parties." - Jonathan Berr
This call cannot be completed as dialed. All she wanted to do, says Rose Parotta, owner of the Happy Rooster at 16th and Sansom, was get a new food-safety certificate from the city. But this is Philadelphia. We retraced her steps. Dial 215-685-7495 for the Office of Environmental Health Services of the Department of Public Health. Press Option #4 for "inspections and other services." You're directed to press Option #1 for info on food-safety certification. And then? A voice of doom says: "1 is not a valid option." Please hang up and call again. And again. And again.
- Rick Nichols
The week ahead
On the spot. John G. Drosdick, chairman and CEO of Sunoco Inc., which issues financial results Wednesday and holds its annual meeting Thursday.
Earnings. Other area firms to report: Aqua America, Cephalon, Cigna, FMC, Lincoln National, Orleans Homebuilders, Teleflex and Vishay Intertechnology.
"We are planning two additional cost actions." - Unisys chairman Joseph McGrath, on cost-cutting measures, including the elimination of 950 jobs.