Wisconsin receives $46.5 million installment for high-speed rail

Modine Manufacturing Co. today reported fiscal first quarter net income of $3.1 million, or 7 cents per share, which was a vast improvement from a net loss of $14.5 million, or 45 cents per share, in the same period a year ago. The Racine-based company’s quarterly net sales grew to $345.2 million from $253.6 million a year earlier. The company’s sales were driven primarily by a recovery within the agricultural and mining markets in North and South America and the North American Class 8 commercial vehicle market, as well as higher exports from premium automotive customers in Europe. "Our company's strong first quarter fiscal 2011 performance reflects the significant progress we have made over the previous year," said Modine president and chief executive officer Thomas Burke. "With the higher sales, we are clearly seeing the benefits of an increase in operating leverage, which drove our improved gross margin and contributed to net earnings during the quarter. Sales improved dramatically as a number of our markets, notably the off-highway and commercial vehicle markets in North and South America and the premium automotive market in Europe, continued to strengthen. Based on the strong first quarter results and improved visibility with respect to our customers' production plans, we are raising our fiscal 2011 sales guidance to a year-over-year increase of approximately 16 to 20 percent.” Looking forward, Burke said, “The trends we see provide us further confidence that we are on track to attain our mid-term goal of an 11 to 12 percent return on average capital employed by the end of fiscal 2013. When I look beyond 2013, we remain very excited about the growth drivers in the business, which include the need for reduced emissions, greater fuel efficiency and higher building energy efficiency standards. We believe we are well positioned to capitalize on these drivers with our advantaged product portfolio and next-generation thermal management technologies to support our customers around the globe."

TDS Telecommunications Corp. is now offering managedUC, a Voice over Internet Protocol (VoIP) managed service utilizing the Cisco Unified Communications (UC) 500 system for small business. The Cisco UC 500 system is designed especially for small businesses with locations that have up to 100 employees. Madison-based TDS is able to offer managedUC to businesses located throughout the United States, within and beyond its normal service boundaries. “We’re pleased to offer this solution to our customers. It’s a perfect fit,” says Tom Canfield, vice president of commercial marketing and product development for TDS. “Cisco is the world-wide leader in data networking and VoIP products. Offering the Cisco UC 500 system reflects a significant commitment and investment by TDS in Cisco. It will enable us to offer voice and data solutions, on the customer's network, allowing us to meet their communication needs for years to come.” With the new service offering, TDS is helping small businesses function more like Fortune 500 companies, without the expense, Canfield said. “Businesses will discover they’re able to quickly access and act on information at any time, anywhere, on a variety of devices,” Canfield said. “Whether working from the office, home, or remotely, employees’ work is performed over a highly-secure connection. It means employees can do their job more effectively and efficiently, which just might be the key to out pacing the competition.”

According to new data produced by the Business Health Care Group, (BHCG), self-funded member organizations of the group saw a decrease in health care costs of 5.4 percent per health plan member when compared to 2005 base-year costs. Read more in this week's BizTimes Bubbler.

BizTimes provides news and operational insight to the owners, presidents and other top executives of closely held businesses in southeastern Wisconsin, including Milwaukee, Waukesha, Ozaukee, Washington, Racine, Kenosha, Walworth and Sheboygan counties.