Avery Declares Dividend
Avery Dennison Corp. declared a quarterly cash dividend of 39 cents per share, payable on Sept. 20, 2006, to shareholders of record at the close of business on Sept. 6, 2006. This announcement come a day after the Pasadena-based label material and office products manufacturer announced that half-way through the year, net income was $180.7 million, or $1.80 a share, up from $147.1 million, or $1.46 a share in the year-ago period a 28 percent increase.
iTunes Inks Another TV Deal
New episodes of E! Entertainment Television shows will be available for download on Apple’s iTunes Music Store. Shows such as “The Girls Next Door,” “The Soup,” “Dr. 90210,” and “The Simple Life: ‘Til Death Do Us Part,” will be available for download the day after broadcast, the Los Angeles-based entertainment company said. The downloads will cost the standard $1.99 per show. Earlier in the week, iTunes announced an agreement with Warner Bros. Home Entertainment Group, to offer downloads of popular shows such as “Friends,” “Babylon 5,” “The Jetsons” and “The Flintstones.”
Hilton Goes to Thailand
Hilton Hotels Corp. has signed Bangkok-based Destination Properties Ltd. to manage its new Doubletree resort and spa in Sriracha, Thailand. Hiliton will also add Fitness by Precor facilities at full-service Hilton Doubletree and Embassy Suites Hotels in North America and at the Waldorf-Astoria in New York City, the Beverly Hills-based hotel operating company said. Hilton will open the 358-room Doubletree Golf Resort & Spa near in Thailand in early 2008. Full-service Hilton, Doubletree and Embassy Suites Hotels are expected to have all-new Precor equipment installed by the end of next year. Hilton has 2,800 hotels in more than 80 countries.
FirstFed Profits, Revenue Up for 2Q
FirstFed Financial Corp. reported second quarter net income of $32.5 million ($1.92 per share), up 50 percent compared with $21.7 million, ($1.29 per share) for the same period a year earlier. Net interest income for the Santa Monica-based bank was up 26 percent to $73.9 million.
IHOP Profits Down, Revenue Up
IHOP Corp.’s second quarter net income fell 14 percent to $10.3 million, (56 cents per share), compared to $11.9 million, (60 cents per share), for the same period a year earlier. Revenue for the Glendale-based restaurant chain rose 3 percent to $85.1 million The company said sales were helped by an increase in customers visiting its restaurants, as well as same-store sales rising 3.1 percent.
