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Arbor's 2Q results turn down

 

In part due to lingering effects of the recession, quarterly financial results at Arbor Realty Trust Inc., of Uniondale, took a sharp turn for the worse, the company has reported in a U.S. Securities and Exchange Commission filing. Arbor reported that its funds from operations -- a key measure in the profitability of a real estate investment trust -- were a negative $8.5 million for the quarter, down from a profit of $129.3 million in the same quarter last year. The results made public Friday were for the three-month period ending June 30. Some of Arbor Realty's borrowers are struggling to make payments, Ivan Kaufman, president and chief executive of Arbor Realty, said in a conference call with analysts, according to a transcript of the call on the website SeekingAlpha. -- JOSEPH MALLIA

 

 

Arrow eyes Chip One Stop buy

 

The Japanese unit of technology distributor Arrow Electronics of Melville has made an offer to buy the Japanese retail sales company Chip One Stop, which sells online. The offer is valid between Aug. 9 and Sept. 20, Arrow said. Chip One Stop's international website, which displays in English, offers semiconductors, computer cables, repair parts and numerous other items. The Internet site also hosts product lines for Kyocera and other original equipment makers. Arrow, an electronics wholesaler founded in 1935, has a market capitalization of $4.2 billion and employs about 12,700 workers. It had net income of $568.9 million on sales of $20.66 billion in the past year. -- JOSEPH MALLIA

 

 

HIA-LI 'rookie' finalists

 

A digital printing firm, an environmental testing and cleanup firm and a business that makes marking and cleaning devices for golf balls are all in the running for this year's Rookie of the Year award from the HIA-LI, a business trade organization. Those businesses are among the finalists for that group's annual Business Achievement Awards, which has categories, too, for large and small businesses, as well as nonprofits. Winners are to be announced Sept. 13 at a luncheon at Crest Hollow Country Club. Those rookie finalists are: Island Pro Digital, Islandia; Vetter Environmental Sciences Inc., Lindenhurst; BizMark Golf, Westbury. Keep an eye on the organization's website (hia-li.org) for a full list or nominees in other categories. All the businesses that have made this year's cut have "a keen sense of how to streamline and do things differently" in a tough economy, says Terri Alessi-Miceli, president of the HIA-LI. -- PATRICIA KITCHEN

 

 

Lifetime Brands profits rise

 

Kitchenware maker Lifetime Brands Inc., of Garden City, reports that cost-cutting in its sales and administrative departments helped it turn a profit in the most recent quarter. Lifetime had income of $2.06 million on sales of $90.3 million for the quarter ended June 30, compared to a loss of $981,000 on sales of $86.8 million in the same quarter last year. Its brands include Farberware, KitchenAid, Cuisinart, Mikasa and Nautica. "The net income we are reporting this morning is a second quarter record for Lifetime Brands," Jeffrey Siegel, the chief executive, said yesterday. "Despite the challenging business environment, we are on target to achieve top-line growth and increased profitability for the full year." -- JOSEPH MALLIA

 

 

Fiscal de-stressing event set

 

If you feel like you're stressing out after a particularly chaotic day in the financial markets, hold on -- help is on the way, but not until Sept. 18. That's when life coach Eileen Lichtenstein and others will put on a daylong program called "How to Thrive Amid Chaos" at the Holiday Inn Westbury in Carle Place. If you can't wait until then, check out some of Lichtenstein's stress reduction tips and a guided relaxation tape at balanceandpower.com/tips.php. Among the tips: breathe, detach, connect with nature. -- PATRICIA KITCHEN

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