Business for 7/28

July 28, 2002

Allegheny Energy

Allegheny Energy Inc. plans to release its second-quarter 2002 earnings Tuesday and will hold its analyst conference call to discuss earnings results at 1 p.m. Wednesday.

Investors and others may listen to a live Internet broadcast of the call at or The call will also be archived for replay purposes for 10 working days after the live broadcast on both of these Web sites.

A news release on the earnings and supporting financial data will also be available on the company's Web site for review.

Turning Point of Washington County

The Washington County Mental Health Authority has awarded Turning Point of Washington County the contract to provide the Jail Mental Health program at the Washington County Detention Center for fiscal 2003.


The Jail Mental Health program is designed to provide mental health assessments or psychiatric evaluations to inmates.

Additionally, information is coordinated among various departments within the detention center to monitor the inmate's performance on an ongoing basis.

Turning Point also will provide aftercare monitoring and service to inmates upon their release.

Turning Point will begin providing the Jail Mental Health Program beginning Aug. 1.

Farmers and Merchants Bank and Trust

CHARLES TOWN, W.Va. - Farmers and Merchants Bank and Trust will open a new branch office in Charles Town on Monday.

The office, on W.Va. 340 directly in front of the Somerset Village Shopping Center, features three drive-up lanes and a drive-up Automated Teller Machine.

The bank will celebrate the opening with a ribbon-cutting ceremony at 10 a.m.

Charles Lowery will serve as branch manager and Valerie Stephens will serve as assistant branch manager.

Noland Co.

NEWPORT NEWS, Va. - Noland Co. has reported a 32.2 percent increase in earnings for the second quarter.

Net income for the three months ending June 30 totaled $2,505,000, or 71 cents per diluted share, compared to the year-earlier period's $1,895,000, or 53 cents per share.

Total company sales for the quarter were $130,752,000, up 2.6 percent from the $127,470,000 in the second quarter of last year.

Gross profit on those second-quarter sales rose 6.9 percent on higher profit margins. Operating expenses were up 3.7 percent, principally due to higher bad debts stemming from two large accounts, as well as a decline in non-cash pension credits. This combination led to a 50.1 percent increase in operating profit.

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