Service Corp. International (NYSE:SCI) reported results for the second quarter 2011. Highlights: Diluted earnings per share from continuing operations excluding special items was $0.15 in the second quarter 2011 compared to $0.15 in the prior year second quarter. Funeral gross profit decreased by 2.1 million, or 2.7%, in the second quarter of 2011 and gross margin percentage decreased to 19.5% in the second quarter of 2011 from 20.5%. The current quarter was impacted by lower atneed case volume and higher advertising and selling related expenses related to preneed sales initiatives, offset partially by higher average revenues per case and higher General Agency (GA) Revenues related to preneed funeral production. Cemetery gross profit increased $7.8 million, or 24.5%, and cemetery gross margin percentage increased to 20.7% from 17.9%.
Service Corporation International provides deathcare products and services in the United States, Canada, and Germany.
Cleantech Transit, Inc. (CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.
Biomass is the organic matter in trees, crops, and other living plant material. As trees and plants grow, the process of photosynthesis uses solar energy to convert carbon dioxide into carbohydrates in the form of starches, sugars, and cellulose. These carbohydrates are the organic compounds that make up biomass. Biomass can be used for fuels (Biofuels), power production (Biopower) and products (Bioproducts).
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
Valero Energy Corp. (NYSE:VLO) the Board of Directors of Valero Energy Corporation (NYSE:VLO) has declared a regular quarterly cash dividend on the company’s common stock of $0.05 per share. The dividend is payable on September 14, 2011 to holders of record at the close of business on August 17, 2011.
Valero Energy Corporation operates as an independent petroleum refining and marketing company.
Dana Holding Corporation (NYSE:DAN) announced it has signed definitive agreements to sell its equity in two joint ventures to Getrag. These transactions are part of a larger transaction between Getrag and GKN plc. Immediately following the sale of Dana interests in the joint ventures, Getrag will sell these and other assets to GKN.
Dana Holding Corporation engages in the design, manufacture, and supply of products for vehicle manufacturers worldwide.
The Kroger Co. (NYSE:KR) announced the promotion of Donna Giordano as president of the Ralphs Division. Ms. Giordano, 57, has been president of the company’s Quality Food Centers (QFC) division, based in Seattle, WA, since 2002. She succeeds Mike Donnelly, who was recently promoted to senior vice president of merchandising for Kroger.
The Kroger Co., together with its subsidiaries, operates as a retailer in the United States. The company also manufactures and processes food for sale in its supermarkets.
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