Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

LMI taps new chairman * LMI Aerospace Inc. announced Wednesday that Gerald E. "Jerry" Daniels has been named chairman of the board of directors. Effective April 30, he succeeded Ronald S. Saks, LMI's former CEO who served as chairman since March 2014. Saks remains on the board at the St. Charles-based supplier of aircraft parts and engineering services. Daniels has been a director on the LMI board since July 2014. He is a former CEO of defense contractor Engineered Support Systems and a former CEO of Boeing Military Aircraft and Missile Systems.

Laclede profits surge * Profits at Laclede Group Inc. rose 81 percent in the fiscal second quarter as the company's recent acquisitions continued to drive earnings. St. Louis-based Laclede on Wednesday reported a profit of $94.4 million, or $2.18 per share, in the quarter. That was up from net income of $52.2 million, or $1.59 per share, a year earlier. The operator of natural gas utilities in St. Louis and Kansas City acquired Alabama's largest natural gas utility in September. It issued 10.3 million shares of new stock last year to help finance the purchase. Earnings, adjusted for nonrecurring costs, came to $2.25 per share, topping Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share. Revenue rose 26 percent to $877.4 million.

Stereotaxis narrows loss * Stereotaxis Inc. narrowed losses in the first quarter as the St. Louis-based company increased sales of its computerized systems used to treat cardiac problems. It reported a loss of $3.1 million, or 15 cents a share, compared with a loss of $4.1 million, or 21 cents a share, year earlier. Revenue increased 14 percent to $9.5 million.

Whole Foods plans new store concept * Whole Foods Market Inc. is planning to open a new chain of stores that courts millennials with lower prices as it faces intensifying competition as a purveyor of organic and natural products. …

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