EmailEmail
PrintPrint
Business news briefs: 4/30/04
Friday, April 30, 2004

Pa. building activity strong
Future contracts for construction in the state of Pennsylvania rose by 12 percent in March, according to McGraw-Hill Construction. Contracts for new homes jumped by 26 percent, to $536.6 million, while nonresidential building contracts rose by 2 percent to $456.9 million. Nonbuilding contracts, including highways, bridges and utilities, rose by 6 percent to $211.6 million.

MSA profits up sharply
Mine Safety Appliances credited North American sales of self-contained breathing devices and thermal imaging cameras with helping drive a 34 percent increase in net income for the three months ended March 31. The O'Hara safety products company reported earnings of $16.1 million, or 43 cents per share, vs. $12 million, or 33 cents, in the year-ago quarter. Net sales hit $194.5 million vs. $160.4 million last year. More earnings reports on Page C-4.

A taste of German beer, food
Two partners who a year ago opened a 14,000-square-foot Hofbrauhaus brewery and restaurant franchise across the river from Cincinnati are negotiating to put their second operation here. Partner Nick Ellison said no deal has been signed but he expects the concept -- which features live bands, a menu of German and American foods, as well as an outdoor beer garden -- to do well in Pittsburgh because the restaurant seems to draw well when the Pirates or the Steelers are in Cincinnati.

Also in business ...
Rates on 30-year mortgages climbed to 6.01 percent this week for the first time in 2004, Freddie Mac reported. The rate was 5.94 percent last week ... Gateway Inc. is cutting 1,500 jobs, or about 40 percent of its work force, only a month after a similar cut. The announcement came as Gateway posted its 13th loss in 14 quarters.

First published on April 30, 2004 at 12:00 am