Four Westchester County corporations announced earnings this week, with Bunge Ltd. posting a major increase in earnings per share for the second quarter led by its food and ingredients and agribusiness divisions.
White Plains-based Bunge announced net income per common share from continuing operations at $1.71 per share, against 74 cents for the second quarter of 2013. The company reported $311 million in agribusiness sales and $90 million in food and ingredients sales in the second quarter, compared to $170 million in agribusiness sales and $63 million in food sales in the second quarter of 2013.
“We had a strong performance in the second quarter with all segments reporting higher year-over-year results,” said Soren Schroder, Bunge’s CEO, in a press release. “Strong global oilseed processing margins, driven by big crops and growing demand, led to significantly better results in agribusiness.”
MasterCard Inc., based in Purchase, reported net revenue for the second quarter was $2.4 billion, a 13 percent increase versus the same period in 2013. Worldwide purchase volume during the quarter was up 13 percent on a local currency basis versus the second quarter of 2013, to $821 billion.
“We are pleased with another quarter of solid performance, driven by healthy volume and revenue growth,” said Ajay Banga, president and CEO of MasterCard, in the company”™s earnings release. “We continue to invest in our strategic initiatives, including acquisitions, while strengthening partnerships with banks, merchants, governments and mobile operators to grow and improve our business and theirs.”
Jarden Corp., a conglomerate headquartered in Rye Brook that manufactures consumer products, reported net income for the quarter of $24.3 million, down from $52.1 million in the second quarter of 2013. That amounted to earnings per share of 42 cents for the second quarter, versus per-share earnings of 71 cents for the second quarter of 2013. The company cited a debt retirement of approximately $46 million as the reason for the drop versus last year”™s figures.
Handy and Harman Ltd., a White Plains-based industrial company, reported net sales of $195.5 million for the quarter, as compared to $182.1 million for the same period in 2013. The company said income from continuing operations, net of tax, for the first half of the year was $10.7 million, or 82 cents per common share, as compared to income of $8.7 million, or 66 cents per basic and diluted common share, for the same period in 2013.
