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Bemidji Pioneer Business Briefs for August 19

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Bemidji Pioneer
(218) 333-9819 customer support
Bemidji Pioneer Business Briefs for August 19
Bemidji Minnesota P.O. Box 455 56619

Realtor expands market into Bemidji

BEMIDJI – Betsy Hollister, an Edina Realty sales associate, is now a full-time associate in the Bemidji and Bagley areas.

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She is a member of the Northwest Minnesota Association of Realtors and the Greater Lakes Association of Realtors, as well as the Minnesota Association of Realtors and the National Association of Realtors. Hollister has received recognition from The Realty Alliance and Edina Realty for her sales achievements. She has 25 years of experience in sales and marketing. She may be contacted at (218) 330-1920.

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Sanford welcomes Dr. Jayan Nair

BEMIDJI – Sanford Bemidji has announced that Dr. Jayan Nai recently joined Dr. Mohamed Hussein at the Sanford Bemidji 1705 Clinic in the Hematology/Medical Oncology Department.

Nair is originally from India, where he attended medical school and obtained his doctorate in 1996 from the University of Kerala in Alapuzza, India. He completed three internal medicine residencies, the first in New Delhi, India; the second at the University of Aberdeen in Scotland and the third at the University of Florida in Gainesville, Fla. In June, Nair completed a fellowship in hematology/oncology at the University of Florida. He is board certified in internal medicine.

Nair is married and has two young children.

“We are very excited to have Dr. Nair join our patient care team at Sanford Bemidji,” said Dan Olson, chief clinic operations officer at Sanford Health of Northern Minnesota. “Dr. Nair’s addition will increase access to cancer services for patients in Bemidji and northern Minnesota.”

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New pharmacist at Iverson Corner Drug

BEMIDJI – Iverson Corner Drug is has added pharmacist Laura Hilde to its staff.

Hilde grew up in Moorhead and graduated from North Dakota State University with a Doctor of Pharmacy degree. She has a special interest in the field of diabetes and is certified in medication management and to give vaccinations.

Hilde will also work at Iverson Corner Drug’s sister pharmacy, Progressive Health Care, an infusion pharmacy in Bemidji.

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Otter Tail announces quarterly earnings

FERGUS FALLS, Minn. – Otter Tail Corporation has announced financial results for the quarter ended June 30.

The corporation stated in a news release that it had entered into a nonbinding letter of interest to sell the property, plant and equipment of its wind tower manufacturer, DMI Industries Inc. for $20 million.

The purchase, the corporation said in the news release, is consistent with its strategy to reduce risk, refocus its diversified portfolio and redeploy capital for utility growth.

Based on the letter of interest price, DMI recorded a noncash asset impairment charge of $45.6 million ($27.5 million net-of-tax), or $0.76 per share, in the second quarter of 2012.

The corporation also:

-- Consolidated net loss from continuing operations totaled $16.9 million, or ($0.48) per diluted share, compared with net income of $5.1 million, or $0.14 per diluted share, for the second quarter of 2011. Excluding the DMI noncash asset impairment charge, consolidated net income from continuing operations totaled $10.6 million, or $0.28 per diluted share, on a non-GAAP basis.

-- Consolidated net loss from continuing and discontinued operations totaled $17.4 million, or ($0.49) per diluted share, compared with net income of $18.8 million, or $0.51 per diluted share for the second quarter of 2011.

-- Consolidated revenues from continuing operations were $283.7 million compared with $283.3 million for the second quarter of 2011.

Otter Tail Corporation earlier announced that its board of directors had declared a quarterly common dividend of $0.2975 cents per share, payable Sept. 10 to shareholders of record on Aug. 15.

The Board also declared quarterly dividends on the corporation’s four series of preferred stock, payable Sept. 1 to shareholders of record on Aug. 15.

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