People

Digital sales create brighter picture at Kodak

Eastman Kodak Co., propelled by rapid gains in digital photography, recorded a 37 percent jump in second-quarter profit Wednesday and beat Wall Street forecasts by a wide margin. Its shares rose more than 9 percent.

The world’s biggest film manufacturer, which is navigating a tough transition to filmless photography, raised its profit guidance for all of 2004.

Kodak earned $154 million, or 54 cents a share, up from $112 million, or 39 cents a share, a year ago.

Above, Heidi Stregiel looked at Kodak digital cameras on display at Best Buy in Syracuse, N.Y., in this July 2003 file photo.

Kansas City, Mo.

H&R Block co-founder dies of heart failure

Richard Bloch, who helped found tax preparation giant H&R Block Inc., died Wednesday morning of heart failure, the company said. He was 78.

Bloch founded the company in 1955 with his brother, Henry, to take advantage of the vacuum left as the Internal Revenue Service stopped providing free income tax returns service.

Kansas City, Mo.-based H&R Block is now the world’s largest tax preparer, serving 21 million clients in 11 countries.

“Dick was a true entrepreneur, and his energy and talents helped create the path that makes H&R Block the professional and accessible company that it is today,” Mark Ernst, the company’s chairman and chief executive officer, said in a news release.

Bloch was diagnosed with terminal lung cancer in 1978 but was determined cured after two years of aggressive treatment.

Inspired by his own experience, Bloch and his wife, Annette, founded the R.A. Bloch Cancer Foundation in 1980 in Kansas City, Mo.

Technology

Cerner profits rise

Cerner Corp. reported a 60 percent increase in earnings Wednesday on the strength of new business bookings and upped its guidance on future earnings.

The Kansas City, Mo.-based medical software provider said for the quarter ending July 3 it earned $14.3 million, or 38 cents per share, compared to $8.9 million, or 25 cents per share, in the second quarter a year ago. Analysts surveyed by Thomson First Call expected earnings of 37 cents per share.

Energy

Aquila settlement OK’d

A federal judge has approved a settlement that requires Aquila Inc. to pay $458 million to an insurer that had guaranteed future prepaid natural gas contracts.

U.S. Judge Gary Fenner approved the agreement late Tuesday, ending litigation that tied up $500 million in cash needed by the Kansas City, Mo.-based utility.

Aquila will pay $485 million to Federal Insurance Co. and Pacific Indemnity Co., two subsidiaries of The Chubb Corp., to settle contracts Chubb had with Aquila Merchant Services to provide gas to municipal utilities in Nebraska and Mississippi.

Aquila is the natural gas provider in Lawrence.