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Show Friday, October 27, 1W5 THE DAILY HERA I D, Provo, Utah iusiness Local )ILBERT0 i I'VE A FED GOT LOHICH AT FIRST GLANCE SEEAS USEFUL, 5UT INFORMATION. rU5T A BIG BINDER HERE'S PEOPLE ASKED FORTHKT SAKE. YOU Bankruptcies booming with Utah economy By scou Adams "T4REE. OTHER 71 YOU'LL 5 BE ON r? REDUNDANT PK0JECT5. REALIZE USELESS LATER. IT'S NOT. TT SALT LAKE CITY (AP) While Utah's economy booms behind headlines of fiscal health, the number of bankruptcy court filings filed this year has risen by 8 percent. Through the end of September, Utah residents had filed 5.344 bankruptcy related petitions, U.S. Bankruptcy Court records show. Last year, 4,945 petitions were recorded in the first three quarters, said federal bankruptcy clerk William Stillgebauer. The abrupt increase so far this year may signal that Utah is about to post its first annual jump in bankruptcy numbers since a 5 percent hike in 1991. Bankruptcies in Utah were down each of the past three years: 4 percent last year. 16 percent in 1993 and percent in SURE. I'fA USING THEiATO BUILD AN ADDITION TO W CUBICLE. AORE BINDERS. DO YOU WANT . W Geneva reports another quarterly profit By TRAVIS JACOBSEN Daily Herald Business Editor million, while operating income topped out at $47.7 million, net income hit $11.6 million and earnings per share were 24 cents. Those figures compared to total revenues of $486.1 million in 1994, when the company recorded an operating loss of $6.8 million, a net income loss of $26.2 million and a per share loss of $2.20. Total steel shipments for fiscal 1995 were a shade over .9 million tons, up from a little less than 1.5 million tons for the same period for fiscal 1994. "We expect operations to improve as capital projects are fully implemented," said Geneva president Robert Grow. "As we tune the system, we expect increased production efficiencies and improved yields during the months ahead." VINEYARD Geneva Steel Thursday reported net income of S3. 8 million, ox 11 cents per common share (alter accounting for dividends on preferred stock"), for the fourth quarter of the fiscal year ending Sept. 30. The earnings registered for the quarter compared to a net loss of S6.9iT)illion, or 58 cents per share, for the same time period last year. Geneva's net income for 995's fourth quarter included a $1.2 million" benefit resulting from reassessment for the company's deferred income tax liability. Operating income for the period was SI million, compared to an operating loss of S2.5 million during the same time in 1994. Sales reached SI 68.9 million lor 501,000 tons of steel shipped, compared to $124.7 million and 366.000 tons for 1994"s fourth quarter. The company also reported its fiscal year-en- d revenues of $665.7 1 processing facility in the Chicago area. The facility will be capable of producing up to 500.000 tons of discrete plate annually and is currently scheduled for completion during the first quarter of 1997. Flat plate processing on the line will be sold by Geneva directly to customers and to IMDG for distribution through its steel service center network, J.T. Ryerson & Sons Inc. and 1 . 1997." In regards to the market overview, Geneva Chairman and CEO Joseph A. Cannon stated, order entry has "Although improved during the pase several weeks, pricing pressure has continued during the current quarter. In response to the current price trends, we are accelerating our efforts to improve margins by shifting the product mix to higher-margi- n plate products." commercial credit facility of a 0.7 million, including $2.2 million- as a five-yeterm loan and SX.5 million from $6.5 mil(up lion) as revolving credit to be used as working capital. S ar indicated that Lampropoulos with this restructuring of its financing. Merit expects to save approximately $100,000 per year in interest costs. Kenneth SALT LAKE CITY Norton. CEO of PST Vans Inc. Thursday announced results for R. I Nim lib bid cbnp, Nine Tt 944 8 2S46 3S 2749 EM 4074 I'M UtC & 2749 M.7( 001 19.12 1103 1143 S"oond 1032 SoGao 41 00 1025 116 117 123 - 10J2 00 41 11.93 1252 4,04 1096 11.51 4.03 7.61 410 7iS OJfj 10.25 HUB Pa ErOGr. PmstSr 1396 SmtjGi 11.07 1396 14.07 1407 16.07 4 05 11 06 taSpcb L2t 621 255! 11 14 1202 1262 0 E4na tJyJm 1041 1105 411 1456 15 45 4.04 10.14 10.65 1.03 AtfiaVtm 1207 015 (tfrtm 12.59 1325 406 446 Win OvSat EaxAn 1040 1072 0.03 162 1697 brcim 1431 15 06 1296 1366 1222 12.60 ' OAK 1057 0XO 0.01 1057 13.97 1463 J 1263 1263 ScOo 1145 1145 Ott bGnt 443 Gctta 0.12 HMMXm 13 63 1420 13.92 I3t GttjUn ' 1261 12i' ft 10.41 1041 002 Gw 1751 1751 '143 12 443 415 . 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Canton believes the results of this report justify its valuation of the Wallace-Benne- tt property at up to $6.5 million. 1,000-roo- AoGl 4.01 1245 10a 10a IkaWal 623 1056 2346 10J6 1095 15.07 623 9.05 2524 M30 4M WEn 109 057 4 caa HI CaatM 447 1257 AjaMI IB 9aaa in 143 ua ita stat ftClaSUaPta . a Ua aoB 1241 SMH 4B uwm Ml IB 1177 25619 414 tmfm 157 MM 441 ic MM MB 495 tneva MB MB 4M 11(0 114 4M 'ia na 4a KKal StiKsdkBt aA) Iia na UB in 177 Iia 4M Bcnxa GaMt 15M . wvt 16B 11(9 itn 1177 HIM H 1)41 121) 1179 irCM 177 IB ua na ui in 3944 411 157 Iia Ita Aa 10B H93 041 K CwOa CtpBa Ex 111 (all Ga MEq 445 LgCapG 405 LoCac 445 Vraa 1213 HincAa 443 Mncea 4K aoMAa 414 HfMBa 441 agat 447 KVTOa 441 441 HUB CjcC co MB 441 MM 4A W IU 551 1 601 411 bawt 141 414 Ooait ia SOCMSu 12B 1317 105 Snnfin 1) 5) 1155 411 Ik1)b5b4cM Setr.H0 1430 M7 442 SoTiVBa 12B 1)4 4M Gc IB 441 Grattit 156 156 2SB SpPCMi 41 44 41 44 442 HTB 1153 SpPSa aoaa la StipctidMb Md 11 1994 SB 414 AaAJAa Mai IIB 77 CAT! 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The specification is currently available on Novell's Net Wire and through Novell's FTP server. 443 412 report commissioned by Salt Lake County officials indicated that the Arrow Press Square site is the optimal location for hotel expansion in downtown Salt Lake City. Marriott was listed as the ideal builder of this potential 600-roo- delivery of computer telephony ITBnd 11.(5 11.(5 13.96 13.06 4.12 BO KS 456 laNUa 42M CH 446 W7ata Saaa Sjouma KJJ M71 441 VT1a 9a 10.16 1025 9.71 PirlVA STAR 94 $40,000 taxpayer related announcement. a team. This specification and program announcement is part of Novell's telephony roadmap. which supports independent software vendors, original equipment manufacturers and resellers to facilitate chnq 1059 10.70 1470 H&1 413 MfxTiAa 4B 9.71 0.02 4.03 1.04 In' 9 419 ICIrta MM 419 KaTala Jt91 B91 1025 959 804 9.77 955 Oaaot t&rt KMt S99 404 14 9.77 KG UtTrfa ICaflataaa 1086 a Prril 4.02 14.94 KYBu 416 aa'Ua latamBm Ca na 19a 10.86 Pmflll 0.02 10.92 Gmatl 1427 444 trnjuta 410 OGBAa 402 KYbD 414 tanAa 1351 10.48 16.(2 925 925 1416 1059 1552 415 UTiAa 441 U77 U77 415 aclrta 13J1 10.48 FTTRAm 9.91 10.65 lit bid GovSc 1857 13.14 . Gala Ml Utafrnk ClOT torn . 4.11 4.02 4.13 HUB 1552 OHili 101) 441 419 DM 412 12a 412 13.03 chna Hint 1043 13.45 10.76 Ctnta 436 Carta Iia 10.14 13.03 ia 17a 1.13 14(4 CmC 11.16 1076 7a 10a 17.56 1353 ist bid PicOppi 11 16 NYTu 1640 994 17.42 16.68 Nimi 401 SMrc 4.03 1.02 1.03 SarGva Sttraum MTu 12.92 MedTT 101 44) FnaHO 10a 10a 442 GATAa 101) It 04 16.72 PrWAn chna SALT LAKE CITY The Canton Industrial Corp. announced Thursday that the Wallace-Bennet- t owned by property Wasatch Capital Corp., a subsidiary of Canton, is part of the proposed site to build a hotel to accommodate the nearly completed Salt Palace Convention Center in downtown Salt Lake City. The findings of a ferent vendors' switches and receive assistance directly from Novell's telephony engineering and developers HGvtoa 4.01 141 SmtlEa 4.02 13.K 403 13(5 443 173 Mil CoBTrta 401 441 10.14 Gdncb In 1 Canton owns proposed SLC hotel property Novell also said it has opened an interoperability and testing lab in its new San Jose facility. The lab. open to Novell's switch and applications partners, provides a single location where developers can obtain first-han- d experience with a variety of switch equipment. Participating switch partners will install switch equipment in the lab for shared access by independent software vendors (ISVs). This presents an opportunity for ISVs to test the proprietary features of dif- call 1410 10.10 rtrm - SmGfAa 231 2346 144 144 1524 1524 1 06 tan 441 SmGn5a TElraS 1245 7a 7B StafeStfclfVCi TElnaAa 1411 10.11 442 12(5 800 840 4.92 US&rSm 652 627 827 447 Tibfia 952 9.97 449 USAtAm 862 976 9 1 4a twTrAa bwTrBm 949 549 408 1056 1351 1351 411 SKGtq awTiC 555 955 1 08 11(4 1144 109 InvTiOa 951 951 441 TAK2I 873 4H Cafttta 4.11 NVauAn 1.02 13.77 CjTllAa ClTlOa 416 416 109 . 444 4a 13.77 12.99 11.99 402 iViktMFiwIi 1218 1322 KMVuAm 13.77 1588 1157 - SHTl HEq 4.08 lUTFJnb 1.02 TEitledb 123 GtxHedb 146 RniBn 4.19 Imm 424 9cm 1.13 EmaMIt 403 Adnl 415 Grinan 4.13 km 422 Umb 4.02 11.62 lit MJlYAI HATl 4394 9(6 STIOttffc 1216 Art 1055 TSAPI specific "Customers, 1421 11.42 HO Ukll 4 01 11.62 percent of the bankruptcy petitions filed in the first nine months of 1995 sought relief under Chapter 11, which generally is used by businesses to restructure their debts while continuing to operate. Just ucts. "The new program will allow customers to more easily identify products that interoperate and simplifies the development efforts for TSAPI application partners." Novell is making this specification available to the TSAPI development community allowing them to make driver and application adjustments in advance of the testing and approved program. This will ensure that approved drivers will be available in the market shortly after the start of the program. switch partners have been requesting that Novell establish implementation standards to make interoperability easier to achieve," said Paul Armstrong, director of marketing, Novell Telephony Prod 1354 UdTrTF MFd ItAmd 135 412 10 70 AaAlc CTTBn fewer appliCorrespondingly, cants are seeking to erase their debts by filing Chapter 7. Only 61 percent of the cases filed this year were under Chapter 7 versus 68 percent in 1994. First Security Bank reports that over the past six months housing prices have risen 6.4 percent, compared with the same period a year ago. However, records reveal that more Utah residents seems to be filing under Chapter 13 of the Bankruptcy Code, which allows sequences in order to operate. This new specification normalizes the sequence of events for common features, allowing TSAPI applications to use a single method to interoperate with different switch partners. 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So '"t 2C65 Ftm 403 1173 402 lijfm Hrfillm 1400 H'4 435 11 '6 115 443 mOgla HJTim 1E95 1129 442 KVia 1024 1056 403 1157 1'53 443 OT 1'54 1200 003 CCaa 1112 11 46 432 OvW 12 05 '242 4C7 PTta 1C66 10)9 403 Pfrt 1175 1215 192 TnEia '243 00! !! 1440 2S uOK m 40 (H (4) 1362 HiVBIn ItMi 909 . Gw4 2696 427 ECS 639 409 441 H41 Got Ki 71 H71 &bfrf 17 X 17 421 Uuf 3243 3242 409 GtMCa 47J 47J 4 40 ( 4( QCntm 2016 . 15(2 414 414 tKtt 431 Hfcrt Jaer n Gcota ODntn 9J1 164 OH 402 407 190 012 40 9.05 10(5 903 946 1050 1163 922 9.73 Dq DvUnAa 11.94 11.94 122 917 Cawm 1143 1122 10.12 1419 inrt i ' 954 1337 75 11.92 406 Hiram 1954 1954 4.03 Quest ForVitat 410 Cipfer N 1271 1437 4.11 CATim Gwtl 65 9 02 6.99 - 0.04 ? WCnAI 0 8 47 06 11.92 If. 1359 bid E. Allen Walker, Gregg E. Bradshow and Lloyd D. Oaks are pleased to announce the formation of the law firm Walker, Bradshow & Oaks, P.S. The firm's practice emphasizes criminal and military law and provides full service representation in civil matters. Walker has a bachelor's degree and J.D. from BYU. Bradshaw has a bachelor's degree from BYU and a J.D. from Seattle University. Oaks earned his bachelor's from BYU: Defense Language Institute (Arabic); his J.D. from Northern Illinois University and his LL.M from the University of Washington. 4'1 S&ilstiiiittk 9.96 IB IB 4.01 Gittm 10(2 MM 9 1354 10.73 9.13 952 10.91 ID 4nGnm 70 Bafttfm 1041 19 10 38 MUSm TEm 11 tit JntOpV yyui Chna jjmvaiy chnq Name 18.96 fttBtaFiB&CU 4.19 UGMI rroridntlast!' Irttk. bill 4.05 UBatff SttGWU AdPUa j Name (sat a 040 10.24 1024 1912 in WyDlu WatlAm 0.07 422 25.25 25.25 ' toil ird , Oil 2743 274J f5 2S66 at chna bid lit bid Mime 2,304 in the same quarter in 1994. PROVO year. housing." Novell Inc., Orem, Thursday announced the availability of a NetWare Telephony Services (NTS) switch driver normalization specification that complements Novell's Telephony Services API (TSAPI). The new specification will ensure consistency between switch drivers, simplifying interoperability for TSAPI applications that support different vendors' switches. The specification will become the basis for a Novell tested and approved program for switch drivers scheduled to begin before the end of the first quarter of 1996. Novell's TSAPI has become a de facto standard procedural API that represents the features and services defined by the European Computer Manufacturers Association standard, Services for Computer Supported Telecommunications (CSTA). Applications Although TSAPI delivers a consistent programming interface to access the switch features, differences in switch implementation require TSAPI applications to use J.M Tull Metals Co. wide-coile- the third quarter and nine months ended Sept. 30. For the most recent three-mont- h period, the company reported net income of $203,644 on revenues of $43.8 million compared to net income of SI. 608.869 on revenues of $35.5 million for the comparable period ended Sept. 29, 1994. Total net income of $8.9 million or $3.46 per share for the nine months ended Sept. 29, 1994. included an extraordinary gain of $6.1 million or $2.36 per share attributable to debt restructuring. Norton noted that the company's average tractor count was 1.418 compared with 1.064 for the same quarter in 1994. The company's trailer count reached 3,128 in the third quarter compared to Through the first nine months of 1995, 38 percent of the bank ruptcy petitions filed were for Chapter 13. That is up from the 31 percent recorded for ail of last Novell delivers NTS switch for normalization efforts Local Highlight SOUTH JORDAN Fred P. Larripropoulos, president and CEO of Merit Medical Systems Inc. 1 hursday announced that the company has secured a commitment from Zions First National Bank for them to pay off what they owe over a period of time. 1992. Justin Burton, a Salt Lake attorney specializing in bankruptcies, says many of the clients he sees are people financially buried by the rising cost of housing. "I have not noticed any increase in the amount of credit-car- d debt people are carrying," Burton said. "What seems to be happening is that people's wages are not rising as fast as the cost of 1 The plant will be designed to d plates and is process expected to be ready for operation durinc the first calendar quarter of On Oct. 18. Geneva and Inland Materials Distribution Group, a wholly owned subsidiary of Inland Steel Industries, announced a tentative deal to form a joint venture that will own and operate a plate Page C7 The Service Dottif," Thornhill Si .(Air luiliaii . LM I . a .r Aar- - 81 |