BEND, OR — Portland-based Precision Castparts reported steady year-over-year sales growth. PCC sales in the 1st fiscal quarter of 2015 were $2.53 billion, a 7% increase from last year. Net income from continuing operations reported year-over-year growth as well, hitting $484 million.
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Second quarter profits for Boeing increased 52% as sales increased 1% during that time period. The airplane manufacture gave strong future guidance on the increasing demand from low cost airlines and increase air travel in Asia.
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Profits for Pepsi dropped 2% in the 2nd quarter on flat sales. The Wall Street Journal said the beverage giant raised full-year profit guidance upwards in the report to 8% growth.
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Meanwhile, Coca-Cola saw profits fall 3% in the 2nd quarter. Sales were down 1% as global case volume rose 3% and was flat in North America.
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The Social Security Administration has spent nearly $300 million on a new computer system to handle disability claims, but the agency can’t get it to work. And officials can’t say when it will. Six years ago, Social Security embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims. But an internal report says the project has been racked by delays and mismanagement.
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