Altria released its third quarter financial results, reporting $1.1 billion in net earnings, up from $883 million in the same period last year. The company brought in $6.4 billion in revenue, up from $6.3 billion. It said its results were driven by a 65.4 percent increase in income in its smokeless tobacco segment. It also said its Marlboro brand now controls a 42.6 percent share of its market. Click here for more on Altria’s earnings.
The company’s Series D preferred stock was removed from its listing on the New York Stock Exchange after the shares were redeemed Oct. 15. As a result of that redemption, several Dynex executives and directors received large amounts of the company’s common stock at no cost. Chairman and CEO Thomas Akin received 558,023 shares. Directors Barry Igdaloff, Daniel Osborne and Leon Felman received 428,167, 41,929 and 70,286 shares, respectively.
Eastern Virginia Bankshares
Chief Credit Officer James Thomas received 3,000 shares of restricted stock worth $8.31 per share or about $25,000. He also acquired 56 shares through a dividend reinvestment program.
COO Joseph James Jr. was awarded 4,000 shares of restricted stock at no cost. He acquired an additional 113 shares through dividend reinvestment.
Genworth said it is still searching for a new CFO. The position is held in the interim by Patrick Kelleher, who will assume the role of president and CEO of Genworth’s retirement and protection segment when Pamela Schutz retires in February.
President and CEO Marshall Morton received 227 shares of phantom stock as part of a deferred compensation plan. The stock will ultimately be paid out in cash upon Morton’s termination of service from the company. CFO John Schauss also received 46 shares of phantom stock.
The parent of the Richmond Times-Dispatch reported a loss of $10.7 million in the third quarter. That’s an improvement over $62.5 million loss it had a year earlier. It had total revenue of $163.2 million, up 3.3 percent. MG said its Virginia/Tennessee market reported $7.4 million in profit, down from $10.7 million in the third quarter last year, helped by an 11.5 percent increase in digital revenue from online advertising. Read more about Media General’s results here.
The Midlothian-based video game maker reported a $5.8 million loss for fiscal 2010, an improvement over its $12.2 million loss the previous year. It had $40.2 million in revenue, down $7 million from the previous year. SouthPeak released 29 game titles during the year, compared with 18 the year prior. It sold 2.6 million units during the year, up from 2.4 million in fiscal 2009. The company has approximately 18 game titles under development that are expected to be released in fiscal 2011. It said it has invested $15.8 million in game development and intellectual property for future releases.
Director Charles Foster Jr. received $11,735 after 287 shares he held in a deferred compensation plan were paid in cash at $40.89 per share. He still owns more than 11,000 shares of Universal common stock.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected]