Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

PATRIOT TRANSPORTATION EARNINGS UP 13 PERCENT

Jacksonville-based Patriot Transportation Holding Inc. reported earnings for the first quarter ended Dec. 31 rose 13 percent to $1.9 million, or 62 cents per diluted share. Revenue rose 13 percent to $35.4 million, with both the real estate and transportation segments of the company reporting increases.

Patriot said its real estate development business continues to benefit from positive inquiry trends from prospective tenants. It said favorable freight-hauling demands for its transportation business remain challenged by industry-wide tight driver availability, and volatile fuel prices will likely continue to impact profit margins.

Mark Basch/The Times-Union

WASTE TECHNOLOGY SALES RISE, BUT EARNINGS FALL

Waste Technology Corp. reported earnings of $103,591, or 2 cents a share, for the fiscal year ended Oct. 31, down from $186,370, or 3 cents a share, the previous year.

Sales for the Jacksonville-based maker of balers and other recycling equipment rose from $6.6 million to $7.4 million, but the company said earnings were lowered by a reserve of $126,236 set aside for a note receivable.

Mark Basch/The Times-Union

MANUFACTURER CONSIDERS MOVE TO JACKSONVILLE

Jade Corp., a machine parts manufacturer based in Pennsylvania, is considering relocating at least one of its subsidiaries to the Jacksonville area, company officer John Delp confirmed.

The company is in the preliminary stages of searching for a new location for two of its Long Island-based subsidiaries, said Phil Phillips, who said he is a friend of the owners and who helped set up a meeting between Jade and city officials. The subsidiary has about 80 employees, according to someone working at the company.

Delp declined to elaborate on the potential relocation, but Jade acquired Carle Place, N. …

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