Savannah gas prices ease upward
Average retail gasoline prices in Savannah have risen 3.3 cents a gallon in the past week to $3.36 a gallon on Sunday, according to GasBuddy’s daily survey of 262 gas outlets in Savannah. The national average increased 2.6 cents a gallon in the last week to $3.50, according to gasoline price website GasBuddy.com.
Prices Sunday were 25.1 cents a gallon lower than the same day one year ago and are 7.5 cents a gallon higher than a month ago. The national average has increased 15.5 cents a gallon during the last month and stands 15.1 cents lower than this day one year ago.
“While the rate that gasoline prices may slow nationally this week, I don’t yet believe we’ve seen the peak in prices,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.
LMI Aerospace reports annual, 4th quarter results
LMI Aerospace Inc. (Nasdaq:LMIA), which has a manufacturing facility in Savannah, Monday announced net sales of $412.6 million for 2013 compared to $278.6 million in the prior year.
A net loss of $58.5 million, or $4.64 per diluted share, was realized in 2013, compared to net income of $16.5 million, or $1.39 per diluted share, in 2012.
Sales for the fourth quarter in 2013 totalled $96.4 million compared to $71.9 million in the fourth quarter of 2012. A net loss of $67.1 million, or $5.31 per diluted share, was realized in the fourth quarter of 2013, compared to net income of $1.0 million, or $0.08 per diluted share, in the fourth quarter of 2012.
The company said its results included a goodwill impairment of $73.5 million related to its acquisiton of the Valent corporation and an income tax charge of $17.6 million for a valuation allowance.
No guidance will be issued, the company said, pending a strategic review by its new CEO.
Savvy Small Business Seminar Series set for May
Hancock Askew & Co. and The University of Georgia Small Business Development Center will co-sponsor a Savvy Small Business Seminar Series beginning in May.
The next seminar, “Managing Inventory in Your Business,” will be held on Thursday, March 20, from Noon to 1 p.m. The free seminar will be presented by Hancock Askew Partner Neville Stein at the Hancock Askew offices at 100 Riverview Drive.
RSVP’s are required. Contact Barbara Fierstein at bfierstein@hancockaskew.com or 912-234-8243. Lunch will be served.
Other seminars in the series include: May 8, How to Read a Balance Sheet; July 10 How to Read an Income Statement; Sept. 11, Income Statement vs. Cash Flow Statement.