New facility opens
Village Quality Solutions, a quality assurance and auditing company serving manufacturers based in North Jackson, has opened a new product distribution and fulfillment center in Cortland. The facility offers product drop-ship inspection, warehousing, sub-assembly, product assembly, product packaging and distribution services. The facility is located at 500 W. Main St.
Representatives from Boardman Subaru and Subaru of America will present a check for $31,734 to Akron Children’s Hospital Mahoning Valley at 10 a.m. today at the hospital’s Beeghly campus at 6505 Market St., Building A lobby.
The money was raised during last year’s annual Subaru “Share the Love” campaign.
Each yeah, Subaru donates $250 from each vehicle sold or leased to their customer’s choice of national or local charities.
$8.7M net income
United Community Financial Corp., the parent company of Home Savings Bank, announced a net income of $8.7 million or $0.176 per diluted common share for the quarter ended March 31. This is compared to the $0.171 diluted common share, or $8.6 million, for the same time period in 2018.
United Airlines’ profit doubles
United Airlines said Tuesday that its first-quarter profit doubled to $292 million as it carried more passengers and limited costs other than fuel.
The results beat Wall Street expectations for a quarter that began with the partial government shutdown and ended with Boeing 737 Max jets grounded around the world.
The airline gave an upbeat forecast of second-quarter revenue trends. However, Chicago-based United did not raise its full-year earnings prediction.
United said that first-quarter earnings, adjusted to exclude one-time gains and costs, came to $1.15 per share.
The average prediction of 19 analysts surveyed by Zacks Investment Research was for 94 cents per share.
Revenue rose 6 percent to $9.59 billion.
Analysts in the Zacks survey were looking for $9.6 billion on average.
Apple, Qualcomm settle bitter dispute
Apple and mobile chip maker Qualcomm have settled a bitter financial dispute centered on some of the technology that enables iPhones to connect to the internet.
The surprise truce announced Tuesday came just as the former allies turned antagonists were facing off in a federal court trial that was supposed to unfold over the next month in San Diego. The resolution abruptly ended that trial, which also involved Apple’s key iPhone suppliers.
The deal requires Apple to pay Qualcomm an undisclosed amount. It also includes a six-year licensing agreement that likely involves recurring payments to the mobile chip maker.