BRADENTON -- Intertape Polymer Group Inc. saw its net earnings grow more than 400 percent in the third quarter compared to same time a year ago.
The film manufacturer reported $12 million in net earnings for the three months that ended Sept. 30, a significant gain from the $2.8 million in quarter three years ago, and a net loss of $3.4 million for the second quarter, according to its latest filing.
The gains were fanned by strong gross profits, favorable foreign currency exchange, lower income tax expenses and lower interest, the company said.
Intertape's gross profits in the third quarter totalled $36.2 million, an increase of 19 percent from the third quarter in 2011 and relatively flat from the second quarter.
During the quarter, gross margins also went up, debt was reduced and cash flows and working capital increased over last year's.
Headquartered in Montreal, Quebec and Bradenton, Intertape manufactures a variety of film-based pressure sensitive and water-adhesive tapes, films, fabrics and packaging systems.
The company employs about 1,800 workers in 19 locations, including a dozen manufacturing facilities in North America and one in Europe.
Roper Industries reports positive quarter
LAKEWOOD RANCH -- Net revenues at Roper Industries Inc. climbed 6 percent in the third quarter over the same period last year, as its net sales went up and shares gained profitability.
The Lakewood Ranch firm's net earnings of $116.7 million for the three months that concluded Sept. 30, was an increase from the $110.3 million during those same months a year ago.
That equated to $1.19 in basic earnings per share for the quarter.
The acquisition of Sunquest Information Systems in August helped balloon the company's net assets, while net sales jumped 5 percent to reach $747.6 million.
Based in Lakewood Ranch, Roper Industries provides engineered products and solutions for global niche markets, including water, energy, transportation, education, medical and information networks.
Sun Hyraulics reports quarter loss
MANATEE -- Third quarter profits at Sun Hydraulics Corp., a company that manufactures screw-in hydraulic cartridge valves in South Manatee, fell 23 percent compared to numbers a year ago.
Sun reported $8.8 million in net income in the third quarter that ended Sept. 29, or about 34 cents per share, down from $11.4 million during the same time last year.
The company attributed its drop to the sluggish economy in both the U.S. and Europe with sales decreasing by 8 percent.
Sun, which expects to add 361 jobs in the next five years, is building a new 78,000-square-foot plant located at 803 Tall
evast Road near the Sarasota-Bradenton International Airport. Once the expansion is complete, Sun expects to employ more than 1,000 workers in Southwest Florida.
Cannons Marina garners award
LONGBOAT KEY -- Cannons Marina has received a Grady-White Boats Admiral's Circle Award for the 14th year in a row. The Admiral's Circle award is considered one of the most coveted in the boating industry, only giving to the most elite boat dealers who provide outstanding customer service and a high achievement in sales.
Best Buy to open mobile stores in Bradenton
BRADENTON -- Six new Best Buy Mobile specialty stores will open across Florida before Thanksgiving including one in Bradenton.
The store, which will be located at 901 Cortez Road W., is expected to open Nov. 21.
As part of the grand openings, customers will receive $50 off the purchase of a new smartphone, with two-year activation.
Stores offer tablets, eReaders, MP3 players and accessories for customers.
Best Buy currently has 45 Best Buy Mobile stores open in Florida.
Other store locations include Fort Lauderdale, Merritt Island, Kendall and Clearwater.
For a full listing of Best Buy and Best Buy Mobile stores, consumers can visit the Best Buy Store Locator at www.bestbuy.com.
Private investigator opens office in Sarasota
SARASOTA -- McFarland & Associates, Inc., a private investigation firm specializing in detecting, countering and supporting legal action against cybercrime and fraud, has opened at 1800 Second Ave., Suite 880.
Harold D. McFarland, a Florida licensed private investigator and certified fraud examiner, is the president and chief forensic scientist of the firm. McFarland & Associates forensic experts find and analyze electronic evidence from computers, networks, databases and other digital media, and preserve it for admissibility in civil and criminal court proceedings.
McFarland & Associates combines expertise in forensic accounting, auditing and fraud examination to investigate fraud, embezzlement, employee misconduct, intellectual property theft and Internet cons.
The firm helps attorneys and their clients recover assets involved in court judgments, divorce proceedings and financial fraud cases.
For more information, call 941-650-2089.
Community Association Management by Stacia opens
SARASOTA -- Stacia Searcy Scofero has opened Community Association Management by Stacia, Inc. to provide administrative, financial and maintenance services to homeowner, condominium and mobile home associations and cooperatives.
Scofero, a licensed community association manager, a certified manager of community associations and an association management specialist, holds expertise in community association governance and recordkeeping, budgeting and accounting, risk management and insurance, maintenance, contracting and human resources management.
The business is at 1990 Main St., Suite 750. For more information, call 941-315-8044 or by e-mail at firstname.lastname@example.org.
-- Herald staff reports