Long Island Business News

Long Island Association Names New Vp

The Long Island Association announced Wednesday Daniel J. Perkins is its new vice president for government affairs, replacing Michael Deering, who took a job at the Long Island Power Authority. Perkins had been senior project manager at the Empire State Development Corp., a state agency that provides help to businesses that want to stay and grow in New York.

Edgewood-Based Tii Network Technologies Sales Rise

Shares of TII Network Technologies jumped 24 percent Wednesday after the company reported third-quarter sales rose 21 percent year over year on increased specialty product sales. TII shares (Nasdaq: TIII) climbed 40 cents to trade at $2.10.

Plum Tv Says Difficulties Exaggerated in the New York Post Report

Plum TV, network of vacation area stations including one in the Hamptons, says its difficulties have been greatly exaggerated, contrary to a report in The New York Post. The company, started by Nantucket Nectar co-founder Tom Scott, told Long Island Business News it laid off 11 people last week at its Manhattan headquarters, but none in its Bridgehampton offices, in a reorganization the firm attributed to redundancies in its structure.

Disappointing Quarter for Hauppauge-Based Hirsch International

Hauppauge-based Hirsch International Corp. on Wednesday reported a net loss of $119,000 for the third quarter on weakness in the sales of its embroidery machines. The company said the loss compares to net income of $424,000 in the same quarter of 2006 and includes $218,000 in charges from the vesting of stock option awards.

Melville-Based Fonar Corp. Trims Loss

Fonar Corp., a maker of upright magnetic resonance imaging machines, said Wednesday its fiscal first-quarter loss decreased 97 percent on higher revenue from sales and repairs and the sale of a stake in a subsidiary. The Melville-based company, for the quarter ended Sept. 30, posted a net loss of $209,000 compared to a loss of $6.1 million in the prior-year quarter. On a per-share basis, Fonar's loss was 4 cents compared to a loss of $1.29 per share one year earlier.

Lighthouse Plans Filed with Town of Hempstead

As workmen hoisted the RexCorp Plaza Christmas tree, Scott Rechler and Charles Wang put their $2 billion mixed-used Lighthouse project in the hands of the Town of Hempstead. Smiling from behind a large conference table surrounded by renderings of condos, shops, and a brand new arena for the New York Islanders, Rechler said the group was filing with the town 13 months ahead of Nassau County's 2009 deadline in the development plan agreement. And he expects the town won't drag out the permitting...

Long Island-Based Ca Inc. Outsources Unit

CA Inc. on Tuesday said it will outsource the research and development connected to its threat management business to an India- based information technology company. CA said it entered into a partnership with HCL Technologies, which will take over development for CA's anti-virus, anti-spyware, integrated threat manager, Internet security and anti-spam software, including others.