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Tag Archives: loss

City sees record 22 inches of rain from Isaac

PICAYUNE — Officials say 22 inches of rain has fallen in Picayune over a three-day period from Hurricane Isaac. City engineer Brooks Wallace tells the Picayune Item the rain unleashed by Isaac was the heaviest downpours ever recorded in city. Rain began late last Tuesday and ended early last Friday. Perhaps the hardest-hit area was in west Picayune. Many homes ...

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AIR Worldwide: Isaac's losses could reach $2B

BOSTON — Catastrophe modeling firm AIR Worldwide estimates that insured losses from Hurricane Isaac to onshore properties in the U.S. will be between $700-$2 billion. AIR estimates include wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, automobiles, and time element coverage (additional living expenses for residential properties and business interruption for commercial properties). ...

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Farmers, ranchers prepare to deal with Isaac's impact

ACROSS MISSISSIPPI — Farmers across southern and central Mississippi are preparing to deal with the consequences of high winds and lots of rain from Isaac. “We have a two-fold problem for farmers right now,” said Mississippi Farm Bureau president Randy Knight. “The livestock and dairy farmers are worried about losing electricity — having problems keeping chickens alive and being able ...

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Report: Primary insurers to bear most of Isaac-related losses

NEW YORK — Fitch Ratings says it anticipates losses related to Isaac will be largely borne by primary insurers, but estimates remain uncertain. Fitch wrote: “Though Isaac carries significant threat, new flood control systems built post-Katrina are expected to limit the surge from Isaac in the New Orleans region. “Catastrophe modeler AIR Worldwide reported an initial estimate of industry insured ...

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Sanderson Farms sees profitable third quarter

LAUREL — Sanderson Farms Inc. reported net income of $28.7 million for its fiscal third quarter, a turnaround from a loss a year ago, as improved market conditions boosted revenue 22 percent. The results beat Wall Street expectations, and its shares jumped almost 6 percent in premarket trading. The Laurel, Miss.-based chicken producer cautioned that while market conditions improved during ...

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SBA-backed disaster loans available due to drought

ACROSS MISSISSIPPI — The U.S. Small Business Administration is making available federal economic injury disaster loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Mississippi as a result of the drought. This SBA’s disaster declaration includes the following counties: Bolivar, Calhoun, Coahoma, Grenada, Humphreys, Lafayette, Leflore, Panola, ...

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Entergy losses $151.7M in first quarter due to Vermont plant

NEW ORLEANS — Power provider Entergy Corp. posted a first-quarter loss after taking an accounting loss on its Vermont Yankee nuclear plant and expenses from the pending spinoff of its electric transmission business. For the January-through-March period, New Orleans-based Entergy said it lost $151.7 million, or 86 cents per share, on revenue of $2.38 billion. In the year-ago first quarter, ...

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Sanderson sees better quarter, but still loses $8M

LAUREL — Sanderson Farms Inc., for the first fiscal quarter ended Jan. 31, saw net sales of $517.8 million compared with $427.7 million for the same period a year ago. For the quarter, the poultry company had a net loss of $8.0 million, or $0.36 per share, compared with a net loss of $33.6 million, or $1.52 per share, for the ...

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Hancock Fabrics reports 'difficult' third quarter

BALDWYN — Hancock Fabrics Inc. saw net sales for the third quarter of $70.8 million, compared to $73.5 million for third quarter of last year, and comparable store sales decreased 3.5 percent, compared to a 0.3 percent increase in the previous year. Operating income for the quarter was $1.2 million, compared to $2.8 million in the third quarter last year. ...

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