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Par reports second-quarter earnings

BY Alaric DeArment

WOODCLIFF LAKE, N.J. — Par Pharmaceutical had sales of $224.2 million and profits of $9.05 million during second quarter 2011, the drug maker said Wednesday.

These compared with respective sales and second-quarter profits of $255.5 million and $18.4 million in second quarter 2010.

For the first six months of fiscal year 2011, the company had sales of $435.8 million and a loss of $99.9 million, compared with $537 million in sales and profits of $44.7 million during the first six months of 2010.

 

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Sears’ social networking initiatives target Latino market

BY Alaric DeArment

SAN JUAN, Puerto Rico — Sears Holdings is launching a Facebook page and a Twitter handle to address Latino consumers, the retailer said Wednesday.

Hoffman Estates, Ill.-based Sears Holdings, which operates the Sears department store chain and the Kmart mass-merchandise chain, announced the creation of Facebook.com/SearsLatino and, on Twitter, @SearsLatino.

"The Latino market is a vitally important customer segment for us," Sears Holdings director and general manager for international eCommerce Oscar Castro said, saying that Sears sought to create an engaging community for Latino customers whether they were in California, Latin America or elsewhere and regardless of which language they preferred. "Given its population growth and high adoption of social media, this is a natural extension of our online initiatives."

Sears is encouraging customers to share stories and ideas, provide feedback and learn more about Sears Latino initiatives while they connect with other Latinos, conversing in English and Spanish.

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Keith Ruck resigns from CFO post at Lannett

BY Allison Cerra

PHILADELPHIA — A generic pharmaceutical company announced that its CFO has resigned.

Lannett said that Keith Ruck has exited the company to pursue other interests. The company expects to name a successor soon.

“During his tenure, Keith improved the performance of our accounting and financial reporting team,” Lannett president and CEO Arthur Bedrosian said. “In addition, he was instrumental in upgrading our internal controls and business processes. I would like to thank Keith for his hard work and wish him well in his future endeavors.”

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