IN BRIEF

RENO

Higher costs push Amerco profits down

Amerco, the holding company of moving and storage operator U-Haul International, reported lower first quarter-earnings as a result of reduced revenues and higher costs.

The company's net earnings available to common shareholders slipped to $38.5 million, or $1.93 a share, for the quarter ended June 30, from $52.2 million, or $2.50 a share, a year earlier.

Revenue fell 1.5 percent, to $558.16 million from $566.67 million.

Amerco's share prices fell $3.98, or 5.63 percent, Thursday to close at $66.70 on the Nasdaq National Market.

Citadel Broadcasting reverses quarterly loss

Citadel Broadcasting Corp., a Las Vegas-based operator of AM and FM radio stations, on Thursday said its posted second-quarter earnings, reversing a year-earlier loss, as it added results from recently acquired ABC Radio and took fewer impairment charges.

In a statement, Citadel said it earned $3.8 million, or 3 cents per share, reversing a loss of $74.8 million, or 67 cents per share, a year earlier.

Analysts polled by Thomson Financial expected earnings of 14 cents per share.

Revenue rose 25.5 percent to $141.2 million from $112.5 million. The ABC Radio fueled the revenue rise. Excluding ABC, revenue fell 2 percent to $109.9 million.

Global Cash Access posts earnings rise

Global Cash Access, a Las Vegas-based supplier of cash access, financial management and customer relationship marketing systems to the casino industry, on Thursday said second-quarter net income climbed 36.5 percent from a year earlier. The company said growth in its cash advance and automatic teller machine businesses boosted results.

In a statement, Global Cash Access said net income was $8.57 million, or 10 cents a share, in the three months ended June 30, up from net income of $6.28 million, or 8 cents a share, a year earlier.

Adjusted net income, which exclude stock-based compensation and other non-regular items, was $14.3 million in the second quarter, or 17 cents per share. Analysts polled by Thomson Financial had expected earnings of 16 cents a share.

Revenue rose 13.1 percent, to $151.5 million from $134 million.

Ready Mix earnings decline in quarter

Ready Mix, a Las Vegas-based maker of ready-mix concrete, on Thursday said second-quarter net income fell from a year earlier, pushed down partly by weakness in residential construction.

In a statement, Ready Mix said its net income was $797,619, or 21 cents per diluted share, for the quarter ended June 30, down from net income of $1.04 million, or 27 cents per diluted share, a year earlier.

Revenue fell 3.5 percent, to $22.1 million from $22.9 million.

In the statement, Ready Mix Chief Executive Officer Bradley Larson said that although nonresidential construction remained strong in Las Vegas and Phoenix, persistent weakness in residential construction reduced demand for ready- mix concrete, pressured prices downward and reduced the company's ability to pass on rising costs.

Vestin Group posts decline in earnings

Vestin Group of Las Vegas reported that earnings declined at its two real estate investment trusts for the second quarter ended June 30.

Vestin Realty Mortgage I earned $734,000, or 11 cents per share, in the second quarter, down from $817,000, or 12 cents per share, a year earlier.

Vestin Realty Mortgage II reported net income declined to $4.4 million, or 11 cents per share, in the second quarter, down from $4.7 million, or 12 cents per share, a year earlier.

PHILADELPHIA

Chocolatier may be on way out for Campbell

Campbell Soup Co. said Thursday it may sell its Godiva Chocolatier business to focus more sharply on soups, baked snacks and vegetable-based beverages.

The possible sale of Godiva, which the Camden, N.J.-based Campbell brought to the United States from Belgium in 1966, comes at a time of fast growth in premium chocolate sales. That means bidding could be lively, perhaps topping $1 billion. However, recent credit problems took some fizz out of the private equity market and could hold down the price.

Campbell, whose brands include Pepperidge Farm baked goods and V8 juices, as well as its trademark soup lines, said New York-based Godiva has $500 million in annual sales, or nearly 7 percent of the company's 2006 revenue of $7.3 billion.

NEW YORK

Henderson companies facing SEC charges

The Securities and Exchange Commission filed charges Thursday against two Nevada companies and their officers, based on allegations about a $20 million Ponzi scheme for mining claim interests.

The SEC named Earthly Mineral Solutions and Natural Minerals Processing Co., both of Henderson.

The commission also filed charges against the company's three principal officers -- Roy D. Higgs, 65, of Henderson; Frank L. Schwartz, 43, of Henderson; and Rick Lawton, 60, of Reno.

The SEC lawsuit says the defendants sold mining claims based on false and misleading information. The defendants claimed that investor money would be used to expand the company's mineral processing and fertilizer production business and guaranteed

7 percent to 9 percent annual investment returns, the SEC said. More than 100 investors invested with the companies.

NEW YORK

Treasury prices gain as stocks stumble

Treasury prices gained sharply in most maturities Thursday as the market absorbed another dose of buying from investors concerned about credit-related trouble in other markets.

At 5 p.m. EDT, the 10-year Treasury note was up $6.56 per $1,000 in face value, or 0.66 points, from its level at 5 p.m. Wednesday. Its yield, which moves in the opposite direction, fell to 4.78 percent from 4.88 percent.