NEWS IN BRIEF

Lonoke plant making ammunition for Navy

The Remington Arms Co.

plant in Lonoke has received a $1.82 million contract from the U.S. Naval Sea Systems Command, Crane Division to produce 12-gauge shotgun slugs.

According to a Remington Arms spokesman, the contract is for a maximum of nearly 2 million rounds of ammunition. The first delivery of 23,840 rounds is due Aug. 21.

The U.S. Naval Sea System Command engineers, builds, buys and maintains ships, submarines and combat systems for the U.S.

Navy. It has 60,000 civilian, contract and military workers, according to its website.

The Crane Division, located in Crane Ind., acquires engineering, in-service engineering and technical support for sensors, electronics, electronic warfare and special warfare weapons.

Last year, Madison, N.C.-based Remington Arms began a $32 million expansion at the Lonoke facility that’s expected to be finished in early summer. Remington Arms began production in Lonoke in 1969 and employs about 1,300. The plant designs and manufactures ammunition for hunting and shooting sports, as well as for military, government and law enforcement uses.

  • John Magsam

Net marketer Inuvo says profit $674,700

Inuvo Inc., the Conway-based Internet marketing and technology company, reported a profit of about $674,700 during its first quarter of 2014, reversing a loss of $290,700 during the same period a year ago, the company said Thursday.

Earnings per share for the quarter were 3 cents, up from a loss of 1 cent in the same period last year.

“The first quarter’s results and the second quarter’s upward revenue trajectory, give us confidence that the foundation we’ve built can deliver both growth and profit,” Richard Howe, chairman and chief executive officer of Inuvo, said in a prepared statement.

Revenue fell to $10.1 million during the period that ended March 31, down from $15.9 million a year ago.

  • Jessica Seaman

Index sheds 1.24

as 11 stocks slide

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, dropped 1.24 to 336.14 Thursday.

“U.S. stocks ended slightly higher on Thursday after an upbeat earnings report from Apple Inc.,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock. “The Arkansas Index moved lower as 11 stocks declined, five advanced and one remained unchanged.”

Shares of Murphy USA rose 1.6 percent in heavy trading.

Acxiom lost 4.1 percent on above-average volume, and USA Truck fell 2.4 percent in light trading.

Total volume of the index was 20.3 million shares.

The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business, Pages 29 on 04/25/2014

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