Business news of local interest
Appvion earnings up
Appvion recorded second quarter operating income of $5.1 million compared with operating income of $3.9 million for second quarter 2016.
The improved earnings in second quarter 2017 were driven by volume growth for the company’s tag, label and entertainment products and carbonless papers segment.
Appvion’s second quarter 2017 net sales of $164 million were $9.6 million lower than second quarter 2016.
Year-to-date net sales of $330.7 million were $23.4 million, or 6.6 percent, lower compared to the same period in 2016, largely as a result of lower prices for thermal paper products as well as lower shipment volume and unfavorable product mix.
Appvion operates a manufacturing facility in Roaring Spring.
Mortgage delinquencies down
Six percent of mortgages in Altoona were delinquent by at least 30 days (including those in foreclosure) in May compared with 6.4 percent in May 2016, representing a decrease of 0.4 percentage points.
Altoona mortgages in serious delinquency (90-plus days past due) totaled 2.2 percent in May compared with 2.5 percent in May 2016, according to CoreLogic, a leading global property information, analytics and data-enabled solutions provider.
The foreclosure inventory rate for this May was 0.7 percent compared with 0.9 percent a year earlier.
Nationally, 4.5 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in May. This represents a 0.8 percentage point decline in the overall delinquency rate compared with May 2016 when it was 5.3 percent.