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Interface 4Q Profit Doubles

Fourth quarter profits more than doubled, reports Interface Inc. (Nasdaq: IFSIA), due to strong sales, particularly in the company’s modular carpet division, which grew by 27%. Sales grew 14% to $295.9 million from $260.6 million in the fourth quarter of 2005, beating analyst expectations of $280.7 million. For the full year, sales climbed 9% to $1.08 billion from $985.8 million in 2005. Earnings for the quarter rose to $12.1 million (21 cents per share) from $5.7 million (11 cents per share) for the same quarter last year. For the year, earnings climbed to $10 million (18 cents per share), from $1.2 million (2 cents per share). “We are pleased to report one of the best fourth quarters in our history, finishing a year of continuously improving performance,” said Daniel Hendrix, CEO. “Our modular carpet business continued to lead our strong performance and achieved a 27% increase in sales compared with the year ago period. Sales were strong across all key regions with the positive trends in Europe providing the most significant driver of growth geographically. In addition, operating income from the modular carpet business increased 39%, primarily due to higher sales volume. Sales in our Bentley Prince Street business improved […]

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H2O Innovation Signs CAD$ 1.8M Water Contracts in U.S.

H2O Innovation (2000) Inc. (HEO: TSX-V), U.S. subsidiary Membrane Systems Inc. has signed two contracts for the supply of drinking water treatment plants for the California Department of Corrections and Rehabilitation in Tracy, California and the Village of Wellington, Florida. Total value of these two contracts is CAD$1.8 million. The system for the California Department of Corrections and Rehabilitation in Tracy will produce drinking water at the flow rate of 800,640 US gallons per day. MSI will be responsible for the reverse osmosis system design, procurement and fabrication, including the instrumentation and controls. The system will consist of two low pressure reverse osmosis trains using 108 membrane elements designed for treating groundwater that has high levels of total dissolved solids and chlorides. The Village of Wellington project will supplement the existing system to augment drinking water treatment capacity. Using 365 brackish water membrane elements, the reverse osmosis system will supply drinking water to the 55,000 inhabitants of the Village of Wellington. The new system will produce 1,8 million US gallons per day.

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UK Offshore Wind Farm to Generate 500 MW

Greater Gabbard Offshore Winds Limited (GGOWL), an Airtricity and Fluor joint venture, received planning permission to build an offshore wind farm to be located 25km off the coast of Suffolk in the UK. GGOWL also received permission to connect the wind farm to the electricity grid via a substation at Sizewell from Suffolk Coastal District Council. The planned wind farm will produce 500MW of electricity via 140 wind turbines. It will be the first UK offshore wind farm to be built outside territorial waters and will provide green electricity for more than 415,000 homes. The east coast of England is a key area for offshore wind projects with approximately 6.5 GW of capacity currently planned out of a total of 10 GW for the whole of the UK. Receipt of planning consent allows the joint venture to progress the project design and to structure the project financing arrangements as well as the power purchase agreements that are required to allow the project to achieve financial close which is scheduled for second half of 2007. GGOWL is already focusing on pre-construction activities: Fluor has been appointed as Engineering, Procurement and Construction contractor. The procurement process for turbines and other equipment has […]

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9 States Sue Over Mercury Emissions

URL: http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/1172028342143560.xml&coll=7 Website: http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/1172028342143560.xml&coll=7     

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