LITTLE ROCK, Ark. (KTHV) - Here in Arkansas, we're seeing more earnings for some of the state's public companies.
Inovo Inc. of Conway, the online advertising company, swung to profit in the second quarter. It reported earnings of $382,000 which is up from a $3 million loss in the same quarter last year.
Much of that gain made after the company saved money moving to Conway from New York.
In Little Rock, telecommunications firm Windstream Corp. said its second-quarter profit dropped 21 percent to $40 million. This, as total consumer revenue dropped three percent.
Meanwhile, the company said it's considering creating a new publicly traded holding company for its business. Executives said such an arrangement would help it manage its credit profile and help it finance strategic initiatives.
Also, Remington Arms broke ground on a $32 million expansion of its ammunition plant in Lonoke.
Gov. Mike Beebe and U.S. Sen. Mark Pryor, both Democrats, attended the ceremony. Remington is expanding the facility to meet the growing demand for ammunition.
The expansion will include a new building by the middle of 2014 and add between 50 and 100 employees. Remington already employs about 1,300 people in Lonoke.