D&C Briefs
East Side projects introduced
The JD White Co., the City of Vancouver and the Washington State Department of Transportation are hosting a “kick-off” meeting to introduce three upcoming East Side transportation projects, provide information and gather community feedback. The projects are the Northeast 112th Avenue connector ramp off northbound Interstate 205, Northeast 18th Street interchange at I-205 and Northeast 18th Street Corridor Improvements. These priority improvements are tapped to increase safety and mobility on I-205 and adjoining roads, reduce congestion on Mill Plain Boulevard and other major roads near I-205 and create several new options for entering and exiting the freeway.
Information is available online at www.wsdot.wa.gov/Projects and www.ci.vancouver.wa.us/18thstreet. The meeting will be held on Feb. 16 from 4 p.m. to 7 p.m. at WSDOT Southwest Region Headquarters, 11018 N.E. 51st Circle in Vancouver.
WD Briefs
$200K trust fund set up for youth workforce development
An anonymous donor has set up a $200,000 trust fund with the Community Foundation of Southwest Washington to be used for direct support for Southwest Washington Workforce Development Council youth programs in Cowlitz County.
SWWDC board member and Cowlitz Bank Senior Vice President and Trust Department Manager Kay Dalke facilitated the match, noting that the donor wanted to support disadvantaged youth in a manner that would provide long-term, sustainable benefits.
ESD 112 partners with more than 100 industry specific businesses and organizations to ensure that participants emerge from the Youth Workforce Program ready to be employed in entry level jobs available in the region.
The SWWDC Board Chair Keith McPhun said the trust funds would be used to help offset the recent loss of federal funds for the youth programs.
General
Columbia Machine awarded for growing exports
Vancouver-based Columbia Machine was awarded an exporter achievement certificate by the U.S. Department of Commerce for its growing global exporting business. The manufacturer of concrete products equipment does business in 95 countries and has sales representatives all over the globe. In 2005, the company, including its Columbia Okura division, had worldwide sales of $115 million. Last month, Columbia Machine finalized the acquisition of the concrete products division of Montreal, Canada-based Paco Group. In 2006, the company is continuing to look at expanding the business globally, particularly in the rapidly growing India market. The company also has plans to upgrade and expand its Vancouver facilities in the next two years.
Riverview posts record third quarter profit
Riverview Bancorp Inc. reported net income of $2.7 million for the third quarter, up from $760,000 a year ago. The record third quarter profit is attributed to expanding net interest margin and strong loan growth. The year-ago quarter included charges of $890,000 related to the valuation of certain Fannie Mae and Freddie Mac preferred stock. Revenues increased 48 percent to $10.7 million excluding a $1.3 million impairment charge in the year-ago period. Total assets increased 36 percent to $739 million. Loans grew 50 percent to $600 million. And deposits were up 38 percent to $592 million, with a 36 percent increase in transaction account balances. Earnings per share were 48 cents, versus 16 cents.
The acquisition of American Pacific Bank in Portland in April 2005 by Vancouver-based Riverview contributed to growth. The company announced plans to grow its presence in the Portland market with at least one new branch later this year.
Linear second quarter sales up 6 percent
Linear Technology Corp. announced second quarter sales of $265 million, up 6 percent from the same period last year. Net income was essentially flat $103.3 million. Earnings per share were 34 cents, versus 33 cents. The company expects third quarter sales to increase 5 to 6 percent over the second quarter based on bookings growth in industrial, communications infrastructure, networking and automotive end markets. Linear Technology is an independent manufacturer of high performance linear integrated circuits based in Milpitas, Calif. The company operates a plant in Camas where it employs 240.
Longview Fibre grows sales 8 percent in fiscal 2005
Longview Fibre posted fiscal year sales of $898.1 million, up 8 percent from the previous year. Increases reflect strong performances in the paper and paperboard segment and converted products segment, which more than offset declines in the timber segment. Net income dropped 26 percent to $10.4 million, due in part to increases in wages and associated fringes and legal and consulting fees associated with the company’s real estate investment trust conversion and Sarbanes-Oxley compliance. Results also included an after-tax charge of $6.1 million related to the company’s decision to permanently shut down and write off two paper machines. Earnings per share were 20 cents, down from 27 cents.
Fourth quarter net sales fell slightly to $225 million from $227 million. Net loss was $6.9 million, versus net income of $9.3 million, resulting in a 13 cent loss per share, versus earnings per share of 18 cents.
Bob’s Automotive in Ridgefield receives service award
For the second year in a row, Robert and Priscilla Ford of Bob’s Automotive Inc. in Ridgefield received the American Towman ACE Award for achievement in service performance. Those recognized were nominated by major motor clubs and dispatch centers across the country. The award is presented by American Towman Magazine. To be eligible, winners must have demonstrated a high percentage of meeting or bettering estimated response time on calls, consistency in response time, written appreciation from customers and percentage of calls serviced.
Battle Ground Chamber of Commerce relocates
The Battle Ground Chamber of Commerce has moved its office across town to 2903 West Main St. The move places the chamber at the entrance of Battle Ground and upgrades its office space from 198 square feet to 450 square feet. President Terri Tweedell said the change improves the chamber’s image, which has been a goal of the board.
“Image is very important,” said Tweedell. “There will be more people that discover us.”
The Battle Ground chamber moved from a metal warehouse-style building into two front offices of a converted residential home occupied by two other businesses. Tweedell is joined by one other employee in the office, which they began occupying on Jan. 1.
