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DNA Beverage Corporation Partners with Star Racing Yamaha
Thursday November 12, 2009
BOCA RATON, Fla.--(BUSINESS WIRE)--DNA Beverage Corporation (Pink Sheets:DNAB - News), makers of DNA Energy Drink®, the highly acclaimed delicious tasting energy drink, and meat snacks that are favorites of the action sports community, announced today its alliance with highly competitive Star Racing Yamaha to maximize its market presence.
Star Racing, who is factory Yamaha’s only fully backed supercross lites team, has put together a championship caliber lineup of riders for 2010.
“DNA Shred Stix is a perfect fit for us and they will help take us to the next level,” said Bobby Regan, owner of Star Racing. “DNA Beverage Corp. has a history in this sport and they understand how it all works. Our brands complement each other well, and we share a passion and desire to win championships.”
“We are excited about DNA Shred Stix being the title sponsor of Star Racing Yamaha,” said Geoff Armstrong, vice president of marketing at DNA. “Star is putting together a competitive lineup this year, that includes Nico Izzi, Martin Davalos, Max Anstie, and Broc Tickle who are each aiming for the 2010 Lites Title. Izzi, Davalos, Anstie, and Tickle are sure to make it an exciting and competitive season this year, increase product awareness and ultimately lead to greater sales.”
The partnership and title sponsorship was brokered by prestigious Wasserman Media Group on behalf of Star Racing. www.wmgllc.com
About DNA Beverage Corporation:
DNA Shred Stix (meat snacks) and DNA Energy Drink are both products of DNA Beverage Corporation. DNA Energy Drink and DNA Shred Stix are both high quality products manufactured to exact standards to achieve superior taste. DNA Energy Drink comes in Citrus, Sugar Free Citrus, and Lemon Lime flavors. DNA Shred Stix meat snacks come in Original, Pizza, and Spicy Jalapeno flavors.
DNA Energy Drink and DNA Shred Stix remain true to its action sports roots. We support athletes, artists, and events on the local and national levels. We also support our accounts and local shops through our grass roots marketing programs. For more info go to www.dnabeveragecorp.com.
About Wasserman Media Group:
Wasserman Media Group is a global sports and entertainment marketing company with leadership positions in athlete management, property representation, consulting and digital content. For more information go to www.wmgllc.com.
Safe Harbor Forward-Looking Statements:
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks.
http://www.racerxonline.com/article/dna-shred-stix-sponsors-star-racing-yamaha.aspx
Electronic Game Card Inc. Reports Third Quarter 2009 Earnings
Company's third quarter 2009 revenue increases 38 percent quarter-over-quarter to $4.2 million
Company generates operating margins of 59 percent and gross margins of 78 percent
IRVINE, Calif. and LONDON, Nov. 12 /PRNewswire-FirstCall/ -- Electronic Game Card, Inc. ("EGC") (OTC Bulletin Board: EGMI - News), today reported financial results for its third quarter ended September 30, 2009, marking the Company's eleventh consecutive quarter of both year-over-year and sequential revenue and profit growth.
The Company reported revenues of $4.2 million, a 39 percent increase over the prior year third quarter level of $3.0 million and a 38 percent increase over second quarter 2009 revenues of $3.1 million. The Company's continued revenue growth reflected repeat business as well as progress in sales within the promotions market, additional licensing and trial orders of new lines introduced at the end of last year.
The Company reported comprehensive net income applicable to common stockholders for the third quarter of $2.9 million or $0.04 per diluted share versus net income of $1.7 million or $0.03 per diluted share for the third quarter 2008 and net income of $2.0 million or $0.03 per diluted share for the second quarter 2009. Third quarter 2009 operating income was $2.5 million compared to $1.8 million in the comparable period of 2008 and a 38 percent increase over second quarter 2009.
For the three months ended September 30, 2009, Electronic Game Card's gross profit on revenue totaled $3.3 million, yielding a gross margin of 78 percent and representing the eleventh consecutive quarter of gross margin in excess of the company's target level of approximately 70 percent. The increase in gross profit reflected a continued growth in license fees, which have lower associated cost. One of the Company's primary objectives is to manage the business to maximize gross profit dollars. Consequently, as the Company takes advantage of future business opportunities, its gross margin may fluctuate due to varying percentage mix of higher margin licensing revenue versus direct sales that generates higher revenue at lower margin.
Operating expenses during third quarter 2009 totaled $798,000, an increase of approximately $274,000 or 52% over third quarter 2008 and $159,000 or 25% over second quarter 2009. The increase was attributed to the costs associated with the new management, expanded Board of Directors, expenses related to a heightened marketing effort, and costs incurred in establishing the Company's new headquarters in Irvine, California. Operating expenses as a percentage of revenues fell by 210 basis points to 19 percent over the second quarter.
For the nine months ended September 30, 2009, Electronic Game Card's revenues increased to $10.2 million, a 31 percent increase compared to revenues of $7.8 million reported during the comparable period in 2008. Comprehensive net income applicable to common shareholders significantly improved for the current nine month period to $6.6 million or $0.10 per fully diluted share, compared to net income for the previous year nine month period of $4.3 million or $0.07 per fully diluted share.
Cash and equivalents on September 30, 2009 were $12.7 million, an increase of approximately $4.5 million from year end December 31, 2008 and an increase of approximately $1.4 million for the June 30, 2009 balance. Accounts receivable increased approximately $1.0 million over the prior second quarter 2009. The majority of the other receivables increase was due to inventory prepayments. At September 30, 2009, the Company's current ratio was 17 to 1. During the third quarter of 2009, EGC increased investments by $665,000 to $8.1 million as a result of further investment in software development.
As of September 30, 2009, Electronic Game Card had approximately 68.1 million shares of common stock outstanding. The Company's weighted average number of common shares fully diluted totaled 72.2 million (inclusive of the all options, warrants and the convertible preferred debt). On September 30, 2009, the Company's stockholder's equity totaled $23.2 million, an increase of $4.7 million from June 30, 2009.
Commenting on the quarterly results, Kevin Donovan, Joint Chairman and CEO of Electronic Game Card, Inc, said, "A great deal was accomplished during the third quarter as we continued to add global distribution partners and new complementary technology platforms. We believe we are putting the pieces into place that will lead to solid top and bottom line growth in 2010 and beyond."
"We are deeply grieved by the untimely passing of our Executive Chairman, The Lord Leonard Steinberg, on November 2, 2009. We were fortunate to have the benefit of his direction over the last 16 months. The Lord Steinberg, during his extraordinary life, achieved many significant accomplishments and, due to his personal nature, took great pride and enjoyment not only through his success, but also with the many close relationships he developed. He devoted special focus over the past year to develop EGC, a business in which he saw great prospects and opportunities," stated Kevin Donovan and Eugene Christensen, Joint Chairmen of Electronic Game Card, Inc. "It is our honor to continue Leonard's fine work and build this company into an entity that would have made him proud."
CONFERENCE CALL
Conference Call Details:
Date/Time: Thursday, November 12, 2009--10:00 a.m. (ET)
Telephone Number: 888-713-4217
International Dial-In Number: 617-213-4869
Participant Pass code: 21898631
Internet Access: www.electronicgamecard.com or
www.earnings.com
It is recommended that participants phone-in at least 10 minutes before the call is scheduled to begin. Participants may pre-register for the call at - https://www.theconferencingservice.com/prereg/key.process?key=PLLYWRJRM
Pacific WebWorks to Host Conference Call
SALT LAKE CITY, Nov 11, 2009 (BUSINESS WIRE) -- Pacific WebWorks, Inc. (PWEB)
today announced that management will hold a conference call to discuss its fiscal
2009 third quarter results and future growth possibilities at 4:15 p.m. ET on
Thursday, November 12, 2009.
Interested parties may access the call by dialing 1-877-941-1465 from within the
United States, or 1-866-228-9189 if calling internationally. The conference ID is
4184023. A replay will be available through December 11, 2009 and can be accessed
by dialing 1-303-590-3030 (local) or 1-800-406-7325, passcode 4184023.
During the call management will discuss financial results, operating activities
and other events that they believe will stimulate the company's growth for 2010.
Participants on the call will include CEO Ken Bell, President Chris Larsen and
CFO Brett Bell. Please dial in 5-10 minutes prior to the beginning of the call.
Please send all questions to bjcoberg@chesapeakegp.com so that we can keep the
call flowing and to answer as many questions as possible.
About Pacific WebWorks, Intellipay and TradeWorks Marketing
Pacific WebWorks provides a comprehensive suite of affordable, easy-to-use
software programs for small businesses that want to create, manage, and maintain
an effective Web strategy including full e-commerce capabilities. Pacific
WebWorks' operates a number of wholly owned subsidiaries including IntelliPay,
TradeWorks Marketing and others.
Forward-Looking Statements
All statements other than statements of historical fact included in this press
release are forward-looking statements. Words such as "anticipate," "believe,"
"estimate," "expect," "intend" and other similar expressions as they relate to
the Company or its management, identify forward-looking statements. Such
forward-looking statements are based on the beliefs of the Company's management
as well as assumptions made by and information currently available to the
Company's management. These statements are not a guarantee of future performance.
Actual results could differ materially from those contemplated by the
forward-looking statements as a result of certain factors, including the
Company's ability to maintain sufficient credit card processing capabilities to
service the demands of their hosting portfolio and other risk factors discussed
under the caption "Risk Factors" in our Annual Report on Form 10-K for the year
ended December 31, 2008 as filed with the Securities and Exchange Commission.
Such statements reflect the current view of the Company's management with respect
to future events and are subject to these and other risks, uncertainties and
assumptions related to the operations, result of operations, growth strategy and
liquidity of the Company. All subsequent written and oral forward-looking
statements attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by this paragraph. The Company has no
intention, and disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future results or otherwise.
SOURCE: Pacific Webworks, Inc.
Pacific WebWorks, Inc.
Brett Bell, CFO, 801-578-9020, ext. 122
or
Chesapeake Group
Kevin Holmes, 410-825-3930
Copyright Business Wire 2009
DNA Beverage Corporation Begins Distribution of Redline Extreme Beverages at Race Trac Convenience Stores
November 5, 2009 1:00 PM ET
DNA Beverage Corporation (Pink Sheets: DNAB), makers of DNA Energy Drink®, the highly acclaimed delicious tasting energy drink and DNA Beef Jerky, favorites of the action sports community, announced today that its wholly owned distribution company, Grass Roots Beverage Corporation, has added VPX/Redline to its growing portfolio of quality food, beverage and supplement companies. Initially the Company will distribute the RTD, Extreme, Princess and Meltdown lines.
Redline is produced by Vital Pharmaceuticals, Inc./Red Line (VPX/Red Line)of Davie, Florida and is one of the top 100 beverage producers in the United States with annual estimated revenue of $150 million.
“Continuing to build our own Grass Roots distribution network is not only helping to grow the DNA brand label but those of others in a market with limited distribution opportunities. Every stop our trucks make with a new product aboard makes us more valuable to the retailer and ultimately produces more revenue for the Company,” said Ralph Sabella, DNA’s Vice President of Operations. Sabella added, “Initial Red Line distribution efforts are centering on 21 counties in central and northern Florida, including Tampa and Orlando. As an approved vendor we have begun to service Race Trac in the territory. Race Trac has over 500 convenience/gas locations primarily in the southeast,” concluded Sabella.
About DNA Energy Drink
DNA Energy Drink is a product of DNA Beverage Corporation and its roots are in the action sports world of athletes who created the drink. DNA Energy Drink is a high quality beverage manufactured to exact standards to achieve superior taste with a formulation that taps into the body’s seven energy sources to maximize energy and improve awareness. DNA Energy Drink’s three flavors, Citrus, Lemon Lime and Citrus Sugar Free, comes in 16oz. cans and retails for a suggested retail price of $1.99.
True to its action sports roots, DNA Energy Drink has earned national recognition through its title sponsorship in both Supercross and Motocross, reaching millions of fans and viewers. DNA is the new title sponsor of the DNA Shred Stix Yamaha Star Racing Team. DNA can also be found in other action sports such as Surfing, BMX, Wakeboarding and Skateboarding and its athletes are recognized stars in their own right. DNA has strong recognition in action sports and stores that support these athletes and sport participants and is a regular at skate parks. Its 53 ft. DNA branded semi-trailer is a regular at events all over the country and regularly supports its retailers and distributors.
About Grass Roots Beverage™
Grass Roots Beverage was created by DNA in order to get its own DNA Energy Drink® to market. A severe lack of distribution opportunities for new non-alcoholic brands in a market dominated by products controlled by Coke, Pepsi and Arizona, by building the platform to address our own needs, we have become a very attractive alternative for other quality manufacturers, with similar distribution hurdles to overcome. www.grassrootsbeverage.com
Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20091105&ID=10668758&Symbol=DNAB
JBI, Inc. Provides an Update on Corporate Progress
NIAGARA FALLS, Ontario, Nov 5, 2009 (GlobeNewswire via COMTEX) -- JBI, Inc. (the
"Company") (JBII) continues to make progress in the implementation of its
comprehensive business plan.
In its efforts to globally market the innovative, eco-friendly Pak-It product
line, JBI has appointed Creative Supply Solutions Ltd. ("CSS") of Manchester,
England as a Master Distributor for the United Kingdom. CSS, a privately held
company, has relationships with more than a dozen distributors in the region, and
will be responsible for managing sales in England, Wales, Scotland, and Ireland.
Steve Seneca, President of Pak-It, LLC, noted, "I am excited to have CSS join us
as a master distributor. CSS focuses on selling and marketing break-through
technologies, which makes them perfect for our Pak-It line of water-soluble
liquid cleaning chemicals."
"We see tremendous opportunity for Pak-It because of their patented technology,"
stated Nigel Oakes, CSS Director. "The Pak-It products provide an important green
solution - and 'green' is an extremely important issue in the UK. The
concentrated packets dissolve completely in water, leaving no empty containers to
clog land-fills. And the shipping cartons are lighter and take up less space than
normal containers, which greatly reduces the environmental impact of
transportation."
Furthermore, in anticipation of Pak-It's Canadian expansion, the Company is
pleased to report that PakIt Canada machines are now set up, and JBI engineers
are adding automation to the production lines to process Pak-Its faster. JBI CEO
and President, John Bordynuik, said, "We envision robust growth for Pak-It
products in Canada and want to be fully prepared to satisfy anticipated demand."
In another important development, Pak-It has formulated a no-slip cleaner that is
a cleaner, polisher and finisher all in one. Applications of this unique
formulation produce no buildup and the affected surface, whether wet or dry, is
not slippery. The product has successfully been tested with a James Machine and
digital tribometer.
JBI is currently assembling its large P2O processor as all parts have now
arrived. Testing of individual components is also ongoing, and the Company looks
forward to soon demonstrating its economic viability, as a direct result of using
its proprietary catalyst in the processor's smooth operation. Competing
processors that run without a catalyst risk pollution, blockage in the
condensers, downtime, slag, and massive cleanup, all of which can severely impact
potential profitability.
In addition to reading NASA tapes, JBI has recently been presented with thousands
of seismic tapes to read, which oil companies view as an important source of
information for their exploration activities. JBI has just started reading tapes
for a large Oil and Gas company, and its Swahili engine is being used to
normalize, index and serve the seismic and well log data.
JBI is setting a presentation and interactive conference call date for Monday,
November 23, 2009. Therefore, all shareholder questions should be submitted to
john@johnbordynuik.com as soon as possible for review by corporate legal counsel.
In order to adequately address all questions, JBI may publicly release news items
prior to the call date. An upcoming press release will give the time and call-in
details for the call. As well, the information will be posted on the JBI website
at http://www.jbiglobal.com. John Bordynuik is looking forward to answering
shareholder inquiries and presenting updates on JBI, Inc. to our shareholders.
About JBI, Inc.
JBI, Inc. is transitioning to become a global technology leader whose purpose is
to mine data from JBI's large information archive, find under-productive entities
to inject our superior proprietary technologies into, and benefit from increased
productivity and profitability, beginning with Plastic2Oil. JBI has also acquired
the following operations:
JAVACO, Inc. ("Javaco") is part of the Supplier Diversity Network, WBENC. JAVACO,
Inc. currently distributes over 100 lines of equipment from fiber optic
transmitters to RF connectors. To further enhance business in the United States,
new distribution lines are frequently being added including a line of home
theater and audio video products. Javaco will operate and manage the Company's
Plastic2Oil sites in Mexico.
Pak-It, LLC ("Pak-It"): Using the patented Pak-It(TM) delivery system (liquid
cleaner in a water soluble sachet) Pak-It can deliver glass cleaner,
disinfectant, multi-purpose, and many more cleaning products (42 products
currently) shipped in tiny packages of condensed cleaner (inside a 'dry' 1 quart
container). This delivery method is "green" since it's fully biodegradable and
saves thousands of dollars in shipping. The user simply adds water to the
container without measuring or cutting the Pak-It. Large retailers and many
national Building Service Contractors already using the product have documented
significant cost savings from shipping, training, inventory control and space.
Accordingly, our revenue sources presently include (i) income from reading
archived tapes (including microfiche) from clients such as NASA, (ii) income from
the recently acquired JavaCo, Inc., (iii) income from the sale of Pak-It
products, and bulk chemical facility which we realize beginning October 1, 2009,
and (iv) from the anticipated commencement of operations in the fourth quarter of
2009 with Plastic2Oil, a process and service that converts plastic to fuel oil.
For more information, please see http://www.jbiglobal.com and
http://www.javacoinc.com and http://www.pakit.com/.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act.
The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several
significant substantive changes affecting certain cases brought under the federal
securities laws, including changes related to pleading, discovery, liability,
class representation and awards fees and of 1995. Those statements include
statements regarding the intent, belief or current expectations of JBI, Inc., and
members of its management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from those
contemplated by such forward-looking statements. The Company undertakes no
obligation to update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to future
operating results.
This news release was distributed by GlobeNewswire, http://www.globenewswire.com
SOURCE: JBI, Inc.
CONTACT: JBI, Inc.
John Bordynuik, President and CEO
john@johnbordynuik.com
Investor Relations
Katie Matkowski
Katie@johnbordynuik.com
+1 (289) 296-5538
(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.
Cereplast Bio-Plastic Resins Declared BPA Free
Company's Compostables(R) and Hybrid(R) Resins Allow Plastics Manufacturers to
Avoid Potential Bisphenol A (BPA) Contamination
HAWTHORNE, Calif., Nov 05, 2009 (BUSINESS WIRE) -- Cereplast, Inc. (CERP), a
leading manufacturer of proprietary bio-based, sustainable plastics, confirmed
today that all its resins are made without the use of Bisphenol A, commonly
referred to as BPA. All products made with both Cereplast resin families,
including the Compostables(R) and the Hybrids(R) are BPA free.
"Consumers are understandably expressing anxiety over news report that BPA has
been found in certain food product packaging, including plastic containers and
cans utilizing plastic inner linings," stated Frederic Scheer, Founder, Chairman
& CEO of Cereplast. "We think that it is important to remind our vendors and
distributors, as well as consumers, that all Cereplast resins are BPA free.
Therefore, all products made from our resins, many of which are currently
distributed by large retailers, are BPA free."
"We have designed our resins with the environment and the safety of consumers in
mind and therefore our products are not part of the current controversy over
BPA," continued Mr. Scheer. "We feel it is important to reassure consumers that
using products made of Cereplast resins is safe, posing no harm to human health
or the environment. It is especially important that products such as food service
utensils, toys and infant furniture, including bathing tubs, are free of BPA."
The daily upper limit of safe exposure to BPA is 50 mg per kilogram of body
weight, according to the US Food and Drug Administration. This acceptable limit
is based on experiments conducted in the 1980s. However, consumer groups and
researchers point out that exposure to lower doses has since been linked to a
variety of health problems, including reproductive abnormalities, increased risk
of breast and prostate cancers, diabetes and heart disease.
Mr. Scheer added, "At this stage, not knowing if there is a safe level of
exposure to any toxin found to cause disease in humans or animals, our goal is to
be zero-tolerance of any compounds proven to cause harm; and, Cereplast products
provide that assurance to manufacturers and consumers."
About Cereplast, Inc.
Cereplast, Inc. (CERP) designs and manufactures proprietary bio-based,
sustainable plastics which are used as substitutes for petroleum-based plastics
in all major converting processes - such as injection molding, thermoforming,
blow molding and extrusions - at a pricing structure that is competitive with
petroleum-based plastics. On the cutting-edge of bio-based plastic material
development, Cereplast now offers resins to meet a variety of customer demands.
Cereplast Compostables Resins(R) are ideally suited for single use applications
where high bio-based content and compostability are advantageous, especially in
the food service industry. Cereplast Hybrid Resins(R) combine high bio-based
content with the durability and endurance of traditional plastic, making them
ideal for applications in industries such as automotive, consumer electronics and
packaging. Learn more at http://www.cereplast.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. When used in
this press release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such forward-looking
statements. Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the forward-looking statements
contained herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks and
uncertainties. These include, but are not limited to, risks and uncertainties
associated with: the impact of economic, competitive and other factors affecting
the Company and its operations, markets, product, and distributor performance,
the impact on the national and local economies resulting from terrorist actions,
and U.S. actions subsequently; and other factors detailed in reports filed by the
Company.
SOURCE: Cereplast, Inc.
IRTH Communications, LLC
Andrew W. Haag, Managing Partner
310-770-9661
http://www.irthcommunications.com
or
Cereplast, Inc.
Frederic Scheer, CEO
310-676-5000
Investor.relations@cereplast.com
Copyright Business Wire 2009
AMLJ - WHY IT WILL BE ANOTHER MULTI-BAGGER:
(1) AMLJ just started making money hand over fist while growing rapidly with those earnings trading very cheap IMO compared to its market cap while sporting a pristine balance sheet. Net income up 433% last quarter over the quarter just prior for +.05 EPS. Annualized EPS last Q = +.20 and growing. PE of 30 = $6.00/share fair value IMO.
(2) AMLJ has a very sexy and highly credible story. They landed a $30 million UAV (Unmanned Aeriel Vehicles) contract with Raytheon has entered the production stage. Raytheon trades on the NYSE [RTN] with a multi-billion dollar market cap.
(3) I expect this will lead to further huge deals. PR hints at future program wins coming from other major defense contractors. Recently, a small order has already come from Northrop Grumman, another multi-billion dollar NYSE company [NOC], and this is a pre-production order which tend to happen before the monster orders come.
(4) At the same time of this exciting growth, they have successfully managed to reduce the cost of production with last Q gross margins were 51% vs. 41% in the Q just before.
(5) The company has a share buyback program authorized of up to 1 million shares which is a huge chunk of it's small float.
More DD can be found on the AMLJ board located here:
http://investorshub.advfn.com/boards/board.aspx?board_id=2654
Universal Insurance Holdings, Inc. Declares Twenty Cent Year-End Cash Dividend
FORT LAUDERDALE, FL, Nov 03, 2009 (MARKETWIRE via COMTEX) -- Universal Insurance
Holdings, Inc. ("Company") (UVE), a vertically integrated insurance holding
company, announced today that its board of directors declared a cash dividend of
$0.20 per share on its common stock. The dividend is payable on December 4, 2009
to shareholders of record as of November 16, 2009.
The board of directors' decision to declare a dividend at this time reflects the
Company's positive results through the third quarter ended September 30, 2009,
and management's assessment of the Company's current business and corporate
needs. The Company undertakes similar assessments throughout each fiscal year in
determining dividend distributions. In aggregate, a total of $0.54 per share in
cash dividends have been declared in 2009.
About Universal Insurance Holdings, Inc.
Universal Insurance Holdings, Inc. (UIH) is a vertically integrated insurance
holding company, which through its various subsidiaries, covers substantially all
aspects of insurance underwriting, distribution, claims processing and exposure
management. Universal Property & Casualty Insurance Company (UPCIC), a wholly
owned subsidiary of UIH, is one of the five leading writers of homeowners'
insurance in Florida and is now fully licensed and has commenced its operations
in Georgia, Hawaii, North Carolina and South Carolina. Additionally, the Company
has filed an application to the Texas Department of Insurance to form a separate
property and casualty subsidiary to write homeowners' insurance coverage in
Texas. For additional information on the Company, please visit our investor
relations Web site at http://www.universalinsuranceholdings.com
Readers should refer generally to reports filed by the Company with the
Securities and Exchange Commission (SEC), specifically the Company's Form 10-K
for the year ended December 31, 2008, and the Company's Form 10-Q for the
quarterly period ended June 30, 2009, for a discussion of the risk factors that
could affect its operations. Such factors include, without limitation, exposure
to catastrophic losses; reliance on the Company's reinsurance program;
underwriting performance on catastrophe and non-catastrophe risks; the ability to
maintain relationships with customers, employees or suppliers; competition and
its effect on pricing, spending and third-party relationships; the Company's
financial stability rating; product pricing and revenues; and the effect of
Federal or state laws and regulations. Additional factors that may affect future
results are contained in the Company's filings with the SEC, which are available
on the SEC's web site at http://www.sec.gov. The Company disclaims any obligation
to update and revise statements contained in this press release based on new
information or otherwise.
Cautionary Language Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. The words "believe,"
"expect," "anticipate," and "project," and similar expressions identify
forward-looking statements, which speak only as of the date the statement was
made. Such statements may include, but not be limited to, projections of
revenues, income or loss, expenses, plans, and assumptions relating to the
foregoing. Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified. Future results
could differ materially from those described in forward-looking statements.
Investor Contact:
Philip Kranz
Dresner Corporate Services
312-780-7240
Email Contact
SOURCE: Universal Insurance Holdings, Inc.
http://www2.marketwire.com/mw/emailprcntct?id=9BCAC866F14E3210
Copyright 2009 Marketwire, Inc., All rights reserved.
Major Corporations Using Cereplast Bio-Plastic Resins to Meet Their Sustainable
Packaging Needs
Early Adopters Include Georgia Pacific, Bunge, Dorel Juvenile, Pace, Innoware,
Genpak and Solo Cup
HAWTHORNE, Calif., Nov 03, 2009 (BUSINESS WIRE) -- Cereplast, Inc. (CERP), a
leading manufacturer of proprietary bio-based, sustainable plastics, announced
today that several major corporate customers are using the company's bio-plastic
resins to meet their sustainable packaging needs. Early adopters include Georgia
Pacific, Bunge, Dorel Juvenile, Pace, Innoware, Genpak and Solo Cup.
"We are finding strong support from large, multi-national companies involved in
packaging design, manufacture and distribution," commented Mr. Frederic Scheer,
Founder, Chairman and CEO of Cereplast, Inc. "The consumer is demanding
alternatives, and the cost to manufacture with Cereplast's proprietary resins are
competitive with traditional, fossil fuel-based plastics."
The company recently announced that Bunge Alimentaris, a Brazilian subsidiary of
Bunge, Ltd. (BG), had chosen Cereplast Compostables(R) resins for use in
manufacturing margarine tubs for the Cyclus(R) line of containers distributed
throughout Brazil. Bunge, Ltd. is a $49.5 billion dollar revenue company, with a
presence in 30 countries.
Similarly, Georgia-Pacific chose Cereplast Compostables(R) for use in its line of
Dixie EcoSmart beverage solutions. EcoSmart products are designed to allow
operators to enhance their environmental stewardship position.
Dorel Juvenile Group, USA, a division of Dorel Industries, Inc.
(CA:DII.B)(CA:DII.A) has launched four products utilizing Cereplast Hybrid(R)
resins, including bathtubs and step stools. In this case, Cereplast's bio-plastic
resins are replacing conventional oil-based polypropylene resins.
Mr. Scheer added, "We have been working diligently to produce what we feel are
the finest bio-plastic resins in the marketplace. It's rewarding to have our
products validated by such well-known, major customers. These big players have
the marketing and distribution muscle to quickly and affordably bring to the mass
markets new products manufactured with our bio-plastic resins."
About Cereplast, Inc.
Cereplast, Inc. (CERP) designs and manufactures proprietary bio-based,
sustainable plastics which are used as substitutes for petroleum-based plastics
in all major converting processes - such as injection molding, thermoforming,
blow molding and extrusions - at a pricing structure that is competitive with
petroleum-based plastics. On the cutting-edge of bio-based plastic material
development, Cereplast now offers resins to meet a variety of customer demands.
Cereplast Compostables Resins(R) are ideally suited for single use applications
where high bio-based content and compostability are advantageous, especially in
the food service industry. Cereplast Hybrid Resins(R) combine high bio-based
content with the durability and endurance of traditional plastic, making them
ideal for applications in industries such as automotive, consumer electronics and
packaging. Learn more at http://www.cereplast.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. When used in
this press release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such forward-looking
statements. Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the forward-looking statements
contained herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks and
uncertainties. These include, but are not limited to, risks and uncertainties
associated with: the impact of economic, competitive and other factors affecting
the Company and its operations, markets, product, and distributor performance,
the impact on the national and local economies resulting from terrorist actions,
and U.S. actions subsequently; and other factors detailed in reports filed by the
Company.
SOURCE: Cereplast, Inc.
IRTH Communications, LLC
Andrew W. Haag
Managing Partner
(310) 770-9661
http://www.irthcommunications.com
or
Cereplast, Inc.
Frederic Scheer, CEO
(310) 676-5000
Investor.relations@cereplast.com
Copyright Business Wire 2009
New Help for Doctors in Combating H1N1 (Swine Flu)
Nov 3, 2009 09:05:00 (ET)
CHESTER, N.Y., Nov 03, 2009 /PRNewswire-FirstCall via COMTEX/ -- As the outbreak of H1N1 (Swine Flu) intensifies, there is a growing need for greater speed and accuracy in collecting specimens from patients for testing to determine with what they've been infected. The government's Centers for Disease Control and Prevention (CDC) has issued interim guidance covering the collection, processing and testing of patient samples. Many state and local medical authorities have incorporated the CDC's recommendations into their own guidance.
That's why Repro-Med Systems, Inc., (REPR, Trade ), dba RMS Medical Products of Chester, NY, now offers a Specimen Collection Kit (SCK) for its RES-Q-VAC(R) portable hand held suction pump. The new kit makes it especially convenient for medical personnel to collect samples in accordance with guidance recommendations and their own local procedures. Samples can come from the nasal passages or throat of a patient suspected to have H1N1, RSV (Respiratory Syncytial Virus) or any other similar illness.
"Obtaining a reliable sample by inserting a swab deep into nasal passages can be tricky, especially when the patients are children who quickly become uncomfortable," noted Andrew Sealfon, President of RMS Medical Products, Inc. "This outbreak of swine flu seems to be hitting younger age groups especially hard," he added. Sealfon explained, "Using our new Specimen Collection Kit does away with the deep penetration and potential damage of using swab which can also contaminate the specimen. A few drops of saline solution are placed into the nostrils, then RES-Q-VAC suctions out the needed sample so quickly the patient doesn't have time to become discomforted."
The SCK consists of a sterile 55ml vial, a sterile 14-inch catheter, and a cap and label to help ensure proper transport of the sample. The RES-Q-VAC commonly is used for emergency suctioning of patients requiring airway management, such as when a patient becomes unconscious after a heart attack or stroke. It is used in hospitals, by ambulance personnel, fire/rescue personnel, and wherever reliable suctioning is needed. Because RES-Q-VAC works without electrical power or batteries, many institutions keep it in reserve for use during power outages and natural disasters.
Facilities already using RES-Q-VAC will only need to order a supply of the specimen collection kits to fit the suction pumps they already have.
Medical professionals can find out more about the RES-Q-VAC Specimen Collection Kit by contacting RMS Medical Products at 800-624-9600 or at info@rmsmedicalproducts.com.
RMS Medical Products, manufacturer of the RES-Q-VAC designs and manufactures innovative medical devices directing its resources to the global markets for emergency medical products leading with its Res-Q-Vac Airway Suction System and infusion therapy with its Freedom60(R) Syringe Infusion Systems for use with antibiotics, subcutaneous immune globulin, pain control and chemotherapeutic drugs, among others. These cutting edge products improve the quality of health care while maintaining favorable operational costs. For further information, visit our web site at http://www.RMSmedicalproducts.com
AMLJ is a rapidly growing defense electronics company that IMO has good chances of becoming a multi-bagger. Here is why:
1. AMLJ recently posted fiscal Q2'10 (ending September 30th) diluted EPS of $0.05. Annualizing that number gives them a PE of less than 7 which is quite inexpensive.
2. They have stated that they expect fiscal 2011 revenue (ending March 2011) to be in the $20-$24M range. This is described in the fiscal Q1'10 CC. I estimate the this will translate to diluted EPS of $0.25/share with $22M in revenue. That gives them a forward PE of roughly 5.
3. The growth in large part is happening because their $30M UAV (Unmanned Aeriel Vehicles) contract with Raytheon has entered the production stage. The $30M in revenue is going to be delivered over the next 5 years.
4. They have additional UAV programs that they are working on going forward which will drive additional growth.
5. They have a pristine balance sheet and are building huge amounts of cash. As of the end of the Fiscal Q2'09 (September) they have $2.3M of cash. Book value is now in excess of $1.30/share.
6. Their Mica-Tech subsidiary provides a product for data acquisition and control of the electric power grid via satellite (Smart Grid). This division is currently running at essentially break even and provides potential for future growth as the division is in it's infancy.
7. AMLJ has a stock buyback in place.
For more DD please go to the AMLJ board:
http://investorshub.advfn.com/boards/board.aspx?board_id=2654
AML Communications Reports Second Quarter FY10 Results
Revenues increase by 30%, net income increases by 180%
Company to host conference call today at 1 PM PDT
On 9:00 am EDT, Wednesday October 28, 2009
CAMARILLO, Calif.--(BUSINESS WIRE)--AML Communications, Inc. (OTCBB: AMLJ - News) today announced results for the second quarter of fiscal 2010 ended September 30, 2009.
Net sales for the quarter increased to $4.5 million, compared with $3.4 million for the same period a year earlier. The Company reported a net profit of $486,000, or $0.05 per share, compared with a net profit of $173,000, or $0.02 per share, for the same period a year earlier.
“We are very pleased to deliver a strong quarter of revenue and earnings growth,” said Jacob Inbar, President and Chief Executive Officer of AML. “Our revenue growth was driven by $1.0 million of products delivered to the Unmanned Aerial Vehicles (UAV) market. The UAV market continues to be a large opportunity for AML. Our improved earnings are also being driven by increased gross margins due to investments in automation.”
AML/MPI Defense Segment
The Company’s core business is microwave amplifiers and integrated assemblies used by the defense industry in electronic warfare systems. This business is conducted by the Company’s two largest divisions, AML and MPI, which account for approximately 95% of the Company’s revenues.
Defense segment revenue for the quarter was $4.4 million, compared with $3.2 million in the same period last year. Revenue was positively impacted by $1.0 million in shipments to the UAV market.
Defense segment net profit for the quarter was $492,000, compared with $152,000 in the same period last year. Profitability was positively impacted by improved gross margins. Gross margin for the quarter was 51% compared with 44% for the same period last year. The increased gross margin is attributed to investments made in automation and consequently in reduction of direct labor. Reduction in direct labor cost for the quarter contributed 3% to the gross margin increase.
Conference Call
For further details on the quarter, investors are invited to join AML’s conference call scheduled for 1:00 PM PDT, today, October 28, 2009.
The conference call dial-in number is 1-877-212-8197 for domestic participants and 1-816-249-4432 for international participants. The Conference ID number is 38336022. A replay of the call will be available for playback through the Company’s website, http://www.amlj.com/ir.html, after 6:00 AM Pacific Time on Friday, October 30, 2009.
About AML Communications
AML Communications is a designer, manufacturer, and marketer of amplifiers and integrated assemblies that address the Defense Electronic Warfare Markets. The Company’s extensive range of microwave low noise amplifiers and power amplifiers can be found in leading defense projects. With over 20 years of serving the military with outstanding customer care, quality, performance, and price leadership, AML is committed to mission success. The Company's Mica-Tech subsidiary is a designer, manufacturer and marketer of intelligent satellite systems that provide Supervisory Control and Data Acquisition (SCADA) of the electric power grid.
Forward-Looking Statements
This press release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company’s views on future profitability, commercial revenues, market growth, capital requirements, new product introductions, and are generally identified by words such as ``thinks,’’ ``anticipates,’’ ``believes,’’ ``estimates,’’ ``expects,’’ ``intends,’’ ``plans,’’, “schedules”, and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. These factors and uncertainties include: reductions or cancellations in orders from new or existing customers; success in the design of new products; the opportunity for future orders from domestic and international customers including, in particular defense customers; general economic conditions; the limited number of potential customers; variability in gross margins on new products; inability to deliver products as forecast; failure to acquire new customers; continued or new deterioration of business and economic conditions in the wireless communications industry; and intensely competitive industry conditions with increasing price competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors that may affect forward-looking statements. Forward-looking statements are based on information presently available to senior management, and the Company has not assumed any duty to update its forward-looking statements.
AML COMMUNICATIONS, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
Three Month Periods Ended Six Month Periods Ended
September 30, September 30, September 30, September 30,
2009 2008 2009 2008
Net sales $ 4,457,000 $ 3,437,000 $ 7,808,000 $ 6,697,000
Cost of goods sold 2,204,000 1,936,000 4,175,000 3,718,000
Gross profit 2,253,000 1,501,000 3,633,000 2,979,000
Operating expenses:
Selling, general & administrative 854,000 730,000 1,547,000 1,465,000
Research and development 567,000 500,000 1,102,000 981,000
Total operating expenses 1,421,000 1,230,000 2,649,000 2,446,000
Income from operations 832,000 271,000 984,000 533,000
Gain on settlement of debt - 45,000 - 567,000
Other income/(Interest & other expense), net (22,000 ) (26,000 ) (20,000 ) (60,000 )
Total other income (expense) (22,000 ) 19,000 (20,000 ) 507,000
Income before provision for income taxes 810,000 290,000 964,000 1,040,000
Provision for income taxes 324,000 117,000 385,000 416,000
Net income $ 486,000 $ 173,000 $ 579,000 $ 624,000
Basic earnings per common share $ 0.05 $ 0.02 $ 0.05 $ 0.06
Basic weighted average number of
shares of common stock outstanding 10,616,000 10,583,000 10,627,000 10,503,000
Diluted earnings per common share $ 0.05 $ 0.02 $ 0.05 $ 0.06
Diluted weighted average number of
shares of common stock outstanding 10,719,000 10,770,000 10,702,000 10,902,000
"We expect that increased business from Georgia-Pacific, Dorel, Solo Cup and Bunge could show revenues increase 300% for the year."
Dear Cereplast Shareholder:
Thank you for your ownership and investment in Cereplast. We are making great strides in executing our vision of building a strong business creating affordable and sustainable bioplastics products.
We are highly confident that bioplastics is a rapidly growing industry that could reach $20 billion a year by the year 2020. In anticipation of the growth expected in this industry, we had grown our staff to 70 and added the 105,000 square foot plant in Seymour, Indiana. The recent economic climate has been a challenge for Cereplast as well as many others on a personal and a corporate level. Corporations and consumers greatly cut back on spending, just as we reached significant production capacity. As a result of the challenges presented, we streamlined operations and reduced our negative cash flow from $1.2 million a month to less than $200,000 a month. We did this by reducing our footprint down to 25,000 square feet from 85,000 and headcount from 70 down to 24. We feel that we are now well positioned for growth and success.
Here are some of our recent accomplishments:
• A contract with Georgia Pacific’s Dixie Cups and Tableware division that calls for them to purchase up to several million dollars worth of resin a year in our Cereplast Compostables ® resins and we are exploring additional applications in both the Compostables ® and Hybrid ® resins. The customer had planned an initial shipping date in 2009, but like many companies in the current economic cycle; they have adjusted their plans and now expect us to start shipping on that contract in the current quarter and hopefully be in full blown in early 2010.
• Executed a contract with Dorel Juvenile Group, a $2 billion manufacturer of children’s health and grooming products, to manufacture children’s furniture made from our Hybrid ® resins to be distributed through Wal-Mart, Target & Baby’s R US stores across the United States. We expect revenues of approximately $1 million from this contract this year and believe this contract could grow to an estimated $10 to $15 million in annual sales in a few years.
• SOLO CUP one of the larger food serviceware companies in North America after several years of testing including market testing at Target is expanding a new line of Compostables cups made from our resins under the brand name “BARE”. Starting this month the cups can be found in Target stores all across the United States. It is another milestone for Cereplast.
We highly recommend you to support our growth in using products made from our converters in purchasing products made from our resins in all these stores across the nation.
• Earlier this year , our distributor in Brazil IraPlast-Krest signed an agreement with Bunge Alimentos, Brazil’s largest food company, to support a national roll-out of their Cyclus ® line of containers made from Cereplast Compostables™ resins.
• In September 2009, we were granted a patent from the United States Patent and Trademark Office for our Hybrid ® resin this is coming on top of two new patents applications we filed in August for our Compostables ® with the United States Patent Office. Our Intellectual Property as of October 2009 consists of about 50 patents and patent applications worldwide.
We are very enthusiastic about the outlook for the bioplastics industry overall. According to BCC Research, the current global market for bioplastics is estimated to be approximately 570 million pounds and is forecast to increase to 1.2 billion pounds in 2012, which represents an almost 18% annual growth rate over the next three years.
According to the Plastics Industry Producers’ Statistics Group, total sales of plastic resin in the United States were $104 billion in 2008. We feel that the bioplastics industry is on the cusp of becoming a burgeoning part of this industry. This is represented in a study by the Bioplastics Market Worldwide 2007-2025 published by Helmut Kaiser Consultancy on August 5, 2009. According to this study the global bioplastics market in the United States was $1 billion in 2007 and is forecast to grow to $6 billion by 2015, growth of more than 8-10% per year over the next six years.
This worldwide growth potential is further represented by the growth and development of the Biodegradable Plastics Institute (BPI). As you may know, I created BPI as a professional association and it has quickly become the largest biodegradable association in the world, with more than 80 members, including BASF, DuPont, Georgia-Pacific, NatureWorks, Dow and Metabolix.
Our key investors are long term players active in Socially Responsible Investing (SRI) arena including: UBS Global Innovator Fund, Credit Suisse New Energy Fund, Fortis, Sustainable Asset Management, Swedbank-Robur and several other prestigious institutions.
We feel that 2010 could be a breakout year for Cereplast. Our restructuring is almost completed. We have adapted to the current economic climate and we have contracts that are poised to grow revenues. The consumer is adopting and even demanding biodegradable plastic products. We have the capacity to meet the demand from those contracts. We expect that increased business from Georgia-Pacific, Dorel, Solo Cup and Bunge could show revenues increase 300% for the year. As we move forward we expect many new relationships to add to these advances resulting in Cereplast becoming a clear market leader in the expanding bioplastics industry.
Going forward we at Cereplast are focused on the following:
• Delivering to key customers and increasing our customer base.
• Securing a major compounding partner to operate and manufacture for us under our specific formulations to meet anticipated capacity needs in 2010 & 2011.
• Continuing to “mine the field” by filing and acquiring formulation patents so that as the bioplastics industry grows we will own and receive royalties from essential resin and formulation patents.
• Continuing the design and development of our Compostables ® & Hybrid ® resins.
• Leveraging our competitive advantage of knowing how to use our Compostables ® & Hybrids ® resins on existing equipment, making Cereplast a lower cost solution than competitors.
We believe that these are key components to success in this rapidly growing industry that will add shareholder value and continue to position Cereplast as a leader in this market. We appreciate your continued support and interest and look forward to reaping the benefits from the success of this company and continued growth of this industry.
Very Truly Yours
Frederic Scheer
Chairman
Chief Executive Officer
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6863682
I added more ROIAK this morning.
ROIAK is surging on EPS of $0.25! It is well in excess of a triple since my original post here!
Radio One, Inc. Reports Third Quarter Results
On 7:00 am EDT, Thursday October 29, 2009
WASHINGTON, Oct. 29 /PRNewswire-FirstCall/ -- Radio One, Inc. (Nasdaq: ROIAK - News and ROIA - News) today reported its results for the quarter ended September 30, 2009. Net revenue was approximately $75.5 million, a decrease of 12% from the same period in 2008. Station operating income(1) was approximately $32.7 million, a decrease of 6% from the same period in 2008. Net income was approximately $14.2 million or $0.25 per diluted share, an improvement from the net loss of approximately $266.1 million or $2.81 per diluted share for the same period in 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090806/PH57529LOGO )
Alfred C. Liggins, III, Radio One's CEO and President commented, "Our third quarter results contain mixed signals. The sequential improvement in radio revenue that we have been seeing since Q1 continued, but not as strongly as I would have liked. While certain of our larger categories are showing signs of recovery (food and beverage -1.6% year-to-year, retail -2.5%, healthcare -4.4%, government/public was flat), others continue to display significant weakness (automotive -37.6% year-to-year, financial -22.9%, telecoms -10.2%, entertainment -10.0%). The efforts we have made to cut costs and streamline the business have positively impacted the income statement, and I believe position us well for the future. I was pleased that our radio division outperformed their markets once again, this time by 390 basis points."
RESULTS OF OPERATIONS
---------------------
STATEMENT OF OPERATIONS
Three Months Ended Nine Months Ended
September 30, September 30,
------------------ -----------------
2009 2008 2009 2008
---- ---- ---- ----
(unaudited) (unaudited)
----------- -----------
(in thousands, (in thousands,
except share data) except share data)
------------------ ------------------
NET REVENUE $75,504 $86,156 $206,258 $242,086
OPERATING EXPENSES
Programming and
technical 18,492 21,477 58,303 61,273
Selling, general and
administrative 24,298 30,012 69,177 82,019
Corporate selling,
general and
administrative 4,702 6,729 15,034 30,687
Stock-based
compensation 302 415 1,387 1,372
Depreciation and
amortization 5,361 5,222 15,875 14,057
Impairment of long-
lived assets - 337,936 48,953 337,936
--- ------- ------ -------
Total operating
expenses 53,155 401,791 208,729 527,344
------ ------- ------- -------
Operating Income
(Loss) 22,349 (315,635) (2,471) (285,258)
INTEREST INCOME (33) (111) (98) (442)
INTEREST EXPENSE 9,224 14,130 29,036 46,549
GAIN ON RETIREMENT OF
DEBT - (5,679) (1,221) (6,694)
EQUITY IN (INCOME)
LOSS OF AFFILIATED
COMPANY (1,397) 1,119 (3,294) 3,918
OTHER EXPENSE, net 38 49 96 93
-- -- -- --
Income (loss) before
(benefit) from
provision for
income taxes,
noncontrolling
interest in
income of
subsidiaries and
discontinued
operations 14,517 (325,143) (26,990) (328,682)
(BENEFIT) FROM
PROVISION FOR INCOME
TAXES (1,508) (59,651) 7,340 (40,992)
------ ------- ----- -------
Net income
(loss) from
continuing
operations 16,025 (265,492) (34,330) (287,690)
(LOSS) INCOME FROM
DISCONTINUED
OPERATIONS, net of tax (87) 639 (18) (5,808)
--- --- --- ------
CONSOLIDATED NET
INCOME (LOSS) 15,938 (264,853) (34,348) (293,498)
NONCONTROLLING
INTEREST IN INCOME OF
SUBSIDIARIES 1,712 1,260 3,650 3,141
----- ----- ----- -----
NET INCOME (LOSS)
ATTRIBUTABLE TO COMMON
STOCKHOLDERS $14,226 $(266,113) $(37,998) $(296,639)
======= ========= ======== =========
AMOUNTS ATTRIBUTABLE TO
COMMON STOCKHOLDERS
NET INCOME (LOSS) FROM
CONTINUING OPERATIONS $14,313 $(266,752) $(37,980) $(290,831)
(LOSS) INCOME FROM
DISCONTINUED
OPERATIONS, net of tax (87) 639 (18) (5,808)
--- --- --- ------
NET INCOME (LOSS)
ATTRIBUTABLE TO COMMON
STOCKHOLDERS $14,226 $(266,113) $(37,998) $(296,639)
======= ========= ======== =========
Weighted average
shares outstanding -
basic(2) 56,242,964 94,537,081 61,873,161 97,219,115
Weighted average
shares outstanding -
diluted(3) 56,684,369 94,537,081 61,873,161 97,219,115
Three Months Ended Nine Months Ended
September 30, September 30,
------------------- ------------------
2009 2008 2009 2008
---- ---- ---- ----
(unaudited) (unaudited)
----------- -----------
(in thousands, (in thousands,
except per share except per share
data) data)
---------------- ----------------
PER SHARE DATA - basic and
diluted:
Income (loss) from
continuing operations
(basic) $0.25 $(2.82) $(0.61) $(2.99)
Income (loss) from
discontinued operations
(basic) 0.00 0.01 0.00 (0.06)
---- ---- ---- -----
Net income (loss)
attributable to common
stockholders (basic) $0.25 $(2.81) $(0.61) $(3.05)
===== ====== ====== ======
Income (loss) from
continuing operations
(diluted) $0.25 $(2.82) $(0.61) $(2.99)
Income (loss) from
discontinued operations
(diluted) 0.00 0.01 0.00 (0.06)
---- ---- ---- -----
Net income (loss)
attributable to common
stockholders (diluted) $0.25 $(2.81) $(0.61) $(3.05)
===== ====== ====== ======
SELECTED OTHER DATA
Station operating
Income(1) $32,714 $34,667 $78,778 $98,794
Station operating
income margin (% of net
revenue) 43.3% 40.2% 38.2% 40.8%
Station operating income
reconciliation:
Net income (loss)
attributable to common
stockholders $14,226 $(266,113) $(37,998) $(296,639)
Plus: Depreciation and
amortization 5,361 5,222 15,875 14,057
Plus: Corporate
selling, general and
administrative expenses 4,702 6,729 15,034 30,687
Plus: Stock-based
compensation 302 415 1,387 1,372
Plus: Equity in
(income) loss of
affiliated company (1,397) 1,119 (3,294) 3,918
Plus: (Benefit) from
provision for income
taxes (1,508) (59,651) 7,340 (40,992)
Plus: Noncontrolling
interest in income of
subsidiaries 1,712 1,260 3,650 3,141
Plus: Interest expense 9,224 14,130 29,036 46,549
Plus: Impairment of
long-lived assets - 337,936 48,953 337,936
Plus: Other expense 38 49 96 93
Less: Gain on
retirement of debt - (5,679) (1,221) (6,694)
Less: Loss (income)
from discontinued
operations, net of tax 87 (639) 18 5,808
Less: Interest income (33) (111) (98) (442)
--- ---- --- ----
Station operating income $32,714 $34,667 $78,778 $98,794
======= ======= ======= =======
Adjusted EBITDA(4) $28,012 $27,938 $63,744 $68,107
Adjusted EBITDA
reconciliation:
Net income (loss)
attributable to common
stockholders $14,226 $(266,113) $(37,998) $(296,639)
Plus: Depreciation and
amortization 5,361 5,222 15,875 14,057
Plus: (Benefit) from
provision for income
taxes (1,508) (59,651) 7,340 (40,992)
Plus: Interest expense 9,224 14,130 29,036 46,549
Less: Interest income (33) (111) (98) (442)
--- ---- --- ----
EBITDA $27,270 $(306,523) $14,155 $(277,467)
Plus: Equity in
(income) loss of
affiliated company (1,397) 1,119 (3,294) 3,918
Plus: Noncontrolling
interest in income of
subsidiaries 1,712 1,260 3,650 3,141
Plus: Impairment of
long-lived assets - 337,936 48,953 337,936
Plus: Stock-based
compensation 302 415 1,387 1,372
Plus: Other expense 38 49 96 93
Less: Gain on
retirement of debt - (5,679) (1,221) (6,694)
Less: Loss (income)
from discontinued
operations, net of tax 87 (639) 18 5,808
-- ---- -- -----
Adjusted EBITDA $28,012 $27,938 $63,744 $68,107
======= ======= ======= =======
September 30, December 31,
2009 2008
-------------- -------------
(unaudited)
------------
SELECTED BALANCE SHEET DATA: (in thousands)
--------------
Cash and cash equivalents $14,775 $22,289
Intangible assets, net 889,121 944,969
Total assets 1,056,883 1,125,477
Total debt (including current portion) 659,037 675,632
Total liabilities 784,692 810,002
Total stockholders' equity 266,560 313,494
Noncontrolling interest 5,631 1,981
Applicable
Current Amount Interest
Outstanding Rate (a)
--------------- -----------
(in thousands)
--------------
SELECTED LEVERAGE AND SWAP DATA:
Senior bank term and revolving debt
(swap matures 6/16/2010) (a) $25,000 6.52%
Senior bank term debt (swap matures 6/
16/2012) (a) 25,000 6.72%
Senior bank revolving debt (at
variable rates) (b) 307,527 2.59%
8 7/8% senior subordinated notes
(fixed rate) 101,510 8.88%
6 3/8% senior subordinated notes
(fixed rate) 200,000 6.38%
(a) A total of $50.0 million is subject to fixed rate swap agreements
that became effective in June 2005. Under our fixed rate swap
agreements, we pay a fixed rate plus a spread based on our leverage
ratio, as defined in our Credit Agreement. That spread is currently
set at 2.25% and is incorporated into the applicable interest rates
set forth above.
(b) Subject to rolling one and three month LIBOR plus a spread currently
at 2.25% and incorporated into the applicable interest rate set forth
above. This tranche is not covered by swap agreements described in
footnote (a).
Three Months Ended September 30, 2009
-------------------------------------
(in thousands, unaudited)
Corporate/
Elimin-
Radio Reach Internet/ ations/
Consolidated One Media Publishing Other
------------ ------ ----- ---------- -----
STATEMENT OF
OPERATIONS:
NET REVENUE $75,504 $57,989 $14,552 $4,401 $(1,438)
OPERATING EXPENSES:
Programming
and technical 18,492 12,628 4,727 2,102 (965)
Selling,
general and
administrative 24,298 18,067 3,490 3,634 (893)
Corporate
selling,
general and
administrative 4,702 - 811 - 3,891
Stock-based
compensation 302 53 0 - 249
Depreciation
and
amortization 5,361 2,419 983 1,639 320
----- ----- --- ----- ---
Total
operating
expenses 53,155 33,167 10,011 7,375 2,602
------ ------ ------ ----- -----
Operating
income (loss) 22,349 24,822 4,541 (2,974) (4,040)
INTEREST INCOME (33) - (17) - (16)
INTEREST
EXPENSE 9,224 - - - 9,224
EQUITY IN
INCOME OF
AFFILIATED
COMPANY (1,397) - - - (1,397)
OTHER EXPENSE,
net 38 6 - 32 -
-- -- --- -- ---
Income (loss)
before
(benefit) from
provision for
income taxes,
noncontrolling
interest in
income of
subsidiaries
and
discontinued
operations 14,517 24,816 4,558 (3,006) (11,851)
(BENEFIT) FROM
PROVISION FOR
INCOME TAXES (1,508) (3,123) 1,615 - -
------ ------ ----- --- ---
Net income
(loss) from
continuing
operations 16,025 27,939 2,943 (3,006) (11,851)
LOSS FROM
DISCONTINUED
OPERATIONS,
net of tax (87) (87) - - -
--- --- --- --- ---
CONSOLIDATED
NET INCOME
(LOSS) 15,938 27,852 2,943 (3,006) (11,851)
NONCONTROLLING
INTEREST IN
INCOME OF
SUBSIDIARIES 1,712 - - - 1,712
----- --- --- --- -----
NET INCOME
(LOSS)
ATTRIBUTABLE
TO COMMON
STOCKHOLDERS $14,226 $27,852 $2,943 $(3,006) $(13,563)
======= ======= ====== ======= ========
Three Months Ended September 30, 2008
-------------------------------------
(in thousands, unaudited)
Corporate/
Elimin-
Radio Reach Internet/ ations/
Consolidated One Media Publishing Other
------------ ------ ----- ---------- -----
STATEMENT OF
OPERATIONS:
NET REVENUE $86,156 $66,750 $14,929 $5,576 $(1,099)
OPERATING EXPENSES:
Programming
and technical 21,477 14,273 4,781 3,373 (950)
Selling,
general and
administrative 30,012 21,248 4,212 5,297 (745)
Corporate
selling,
general and
administrative 6,729 - 1,819 - 4,910
Stock-based
compensation 415 26 - 39 350
Depreciation
and
amortization 5,222 2,474 1,001 1,433 314
Impairment of
long-lived
assets 337,936 337,936 - - -
------- ------- --- --- ---
Total
operating
expenses 401,791 375,957 11,813 10,142 3,879
------- ------- ------ ------ -----
Operating
(loss) income (315,635) (309,207) 3,116 (4,566) (4,978)
INTEREST INCOME (111) - (23) (4) (84)
INTEREST
EXPENSE 14,130 - - 8 14,122
GAIN ON
RETIREMENT OF
DEBT (5,679) - - - (5,679)
EQUITY IN LOSS
OF AFFILIATED
COMPANY 1,119 - - - 1,119
OTHER EXPENSE,
net 49 49 - - -
-- -- --- --- ---
(Loss) income
before benefit
from income
taxes,
noncontrolling
interest in
income of
subsidiaries
and
discontinued
operations (325,143) (309,256) 3,139 (4,570) (14,456)
BENEFIT FROM
INCOME TAXES (59,651) (59,010) (641) - -
------- ------- ---- --- ---
Net (loss)
income from
continuing
operations (265,492) (250,246) 3,780 (4,570) (14,456)
INCOME FROM
DISCONTINUED
OPERATIONS,
net of tax 639 639 - - -
--- --- --- --- ---
CONSOLIDATED
NET (LOSS)
INCOME (264,853) (249,607) 3,780 (4,570) (14,456)
NONCONTROLLING
INTEREST IN
INCOME OF
SUBSIDIARIES 1,260 1,254 - - 6
----- ----- --- --- ---
NET (LOSS)
INCOME
ATTRIBUTABLE
TO COMMON
STOCKHOLDERS $(266,113) $(250,861) $3,780 $(4,570) $(14,462)
========= ========= ====== ======= ========
Nine Months Ended September 30, 2009
------------------------------------
(in thousands, unaudited)
Corporate/
Elimin-
Radio Reach Internet/ ations/
Consolidated One Media Publishing Other
------------ ------ ----- ---------- -----
STATEMENT OF
OPERATIONS:
NET REVENUE $206,258 $162,798 $36,055 $11,450 $(4,045)
OPERATING EXPENSES:
Programming and
technical 58,303 39,204 14,105 7,883 (2,889)
Selling, general
and
administrative 69,177 55,107 5,800 10,752 (2,482)
Corporate
selling, general
and
administrative 15,034 - 4,333 - 10,701
Stock-based
compensation 1,387 366 - - 1,021
Depreciation and
amortization 15,875 7,155 2,946 4,856 918
Impairment of
long-lived assets 48,953 48,953 - - -
------ ------ --- --- ---
Total operating
expenses 208,729 150,785 27,184 23,491 7,269
------- ------- ------ ------ -----
Operating (loss)
income (2,471) 12,013 8,871 (12,041) (11,314)
INTEREST INCOME (98) - (41) - (57)
INTEREST EXPENSE 29,036 - 1 3 29,032
GAIN ON
RETIREMENT OF
DEBT (1,221) - - - (1,221)
EQUITY IN INCOME
OF AFFILIATED
COMPANY (3,294) - - - (3,294)
OTHER EXPENSE
(INCOME), net 96 115 - (39) 20
-- --- --- --- --
(Loss) income
before provision
for income taxes,
noncontrolling
interest in
income of
subsidiaries and
discontinued
operations (26,990) 11,898 8,911 (12,005) (35,794)
PROVISION FOR
INCOME TAXES 7,340 4,191 3,149 - -
----- ----- ----- --- ---
Net (loss) income
from continuing
operations (34,330) 7,707 5,762 (12,005) (35,794)
LOSS FROM
DISCONTINUED
OPERATIONS, net
of tax (18) (18) - - -
--- --- --- --- ---
CONSOLIDATED NET
(LOSS) INCOME (34,348) 7,689 5,762 (12,005) (35,794)
NONCONTROLLING
INTEREST IN
INCOME OF
SUBSIDIARIES 3,650 - - - 3,650
----- --- --- --- -----
NET (LOSS) INCOME
ATTRIBUTABLE TO
COMMON
STOCKHOLDERS $(37,998) $7,689 $5,762 $(12,005) $(39,444)
======== ====== ====== ======== ========
Nine Months Ended September 30, 2008
------------------------------------
(in thousands, unaudited)
Corporate/
Elimin-
Radio Reach Internet/ ations/
Consolidated One Media Publishing Other
------------ ------ ----- ---------- -----
STATEMENT OF
OPERATIONS:
NET REVENUE $242,086 $197,809 $36,794 $10,613 $(3,130)
OPERATING EXPENSES:
Programming and
technical 61,273 42,134 14,562 7,416 (2,839)
Selling, general
and administrative 82,019 65,978 6,350 11,895 (2,204)
Corporate selling,
general and
administrative 30,687 - 5,648 - 25,039
Stock-based
compensation 1,372 515 - 128 729
Depreciation and
amortization 14,057 7,019 2,999 2,960 1,079
Impairment of
long-lived assets 337,936 337,936 - - -
------- ------- --- --- ---
Total operating
expenses 527,344 453,582 29,559 22,399 21,804
------- ------- ------ ------ ------
Operating (loss)
income (285,258) (255,773) 7,235 (11,786) (24,934)
INTEREST INCOME (442) - (84) (2) (356)
INTEREST EXPENSE 46,549 710 1 18 45,820
GAIN ON RETIREMENT
OF DEBT (6,694) - - - (6,694)
EQUITY IN LOSS OF
AFFILIATED COMPANY 3,918 - - - 3,918
OTHER EXPENSE, net 93 49 - 44 -
-- -- --- -- ---
(Loss) income
before (benefit)
from provision for
income taxes,
noncontrolling
interest in income
of subsidiaries
and discontinued
operations (328,682) (256,532) 7,318 (11,846) (67,622)
(BENEFIT) FROM
PROVISION FOR
INCOME TAXES (40,992) (41,877) 885 - -
------- ------- --- --- ---
Net (loss)
income from
continuing
operations (287,690) (214,655) 6,433 (11,846) (67,622)
LOSS FROM
DISCONTINUED
OPERATIONS,
net of tax (5,808) (5,808) - - -
------ ------ --- --- ---
CONSOLIDATED NET
(LOSS) INCOME (293,498) (220,463) 6,433 (11,846) (67,622)
NONCONTROLLING
INTEREST IN INCOME
OF SUBSIDIARIES 3,141 3,125 - - 16
----- ----- --- --- --
NET (LOSS) INCOME
ATTRIBUTABLE TO
COMMON
STOCKHOLDERS $(296,639) $(223,588) $6,433 $(11,846) $(67,638)
========= ========= ====== ======== ========
CERP mentioned in this video at plasticnews.com:
http://link.brightcove.com/services/player/bcpid43169526001
about 01:40 into it
DRI Corporation Announces Record High Order for Mobitec(R) Products in India
Transit Market
Order Valued at Approximately $5.0 Million USD
DALLAS, Oct 27, 2009 (BUSINESS WIRE) -- --Product Delivery Commencement Slated
for Fourth Quarter 2009
--Fiscal Year 2009 Combined India Orders Now in Excess of $15.0 Million USD
DRI Corporation (DRI) (TBUS), a digital communications technology leader in the
global surface transportation and transit security markets, announced today that
the Company's Mobitec AB (Mobitec) subsidiary in Sweden, through its Castmaster
Mobitec India Private Limited joint venture in India, has received a record high
single order valued at approximately $5.0 million USD from a large transit system
operator in Chennai, Tamil Nadu, India.
David L. Turney, the Company's Chairman, President and Chief Executive Officer,
said: "Our Mobitec(R) products will be installed on Chennai's new bus vehicles,
which will serve the more than 4 million people living in or near this capital
city of Tamil Nadu, an Indian state situated on the Coromandel Coast of the Bay
of Bengal. Product delivery commencement is slated for fourth quarter 2009. This
order further demonstrates our strong market position in the vast, but highly
competitive, Indian transit market. We believe the number of new bus vehicles
procured in India thus far in fiscal year 2009 surpasses an entire year's worth
of orders for new full-size bus vehicles in the U.S. transit market, according to
data published by the American Public Transportation Association. Leaders in
India are to be commended once again for their bold vision as exemplified by the
ongoing investment in transit infrastructure. They continue to understand the
vital role that such investments play in developing healthy and livable cities
and a strong economy."
The Mobitec(R) products ordered for the new bus vehicles in Chennai include
front, rear and side sign systems, cabling and control units.
ABOUT MOBITEC
Mobitec, a global supplier of electronic information display systems, is highly
respected for its products, technology, service, and quality. Mobitec is based in
Herrljunga, Sweden. It presently operates business units in Australia, Brazil,
Germany and Singapore, as well as a joint venture in India. For more information,
visit http://www.mobitec.eu.
ABOUT THE COMPANY
DRI Corporation is a digital communications technology leader in the global
surface transportation and transit security markets. Our products include:
TwinVision(R) and Mobitec(R) electronic destination sign systems, Talking Bus(R)
voice announcement systems, Digital Recorders(R) Internet-based passenger
information and automatic vehicle location/monitoring systems, and VacTell(R)
video actionable intelligence systems. Our products help increase the mobility,
flow, safety, and security of people who rely upon transportation infrastructure
around the globe. Using proprietary hardware and software applications, our
products provide easy-to-understand, real-time information that assists users and
operators of transit bus and rail vehicles in locating, identifying, boarding,
tracking, scheduling, and managing those vehicles. Our products also aid transit
vehicle operators in their quest to increase ridership and reduce fuel
consumption, as well as to identify and mitigate security risks on transit
vehicles. Positioned not only to serve and address mobility, energy conservation,
and environmental concerns, our products also serve the growing U.S. Homeland
Security market. For more information about the Company and its operations
worldwide, go to http://www.digrec.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. In particular, statements
concerning the timing of the deliveries of orders; our joint venture growth
opportunities in India; the size of the Indian market for our products; future
growth of the Indian market for our products; as well as any statement, express
or implied, concerning future events or expectations or which use words such as
"expect," "fully expect," "expected," "appears," "believe," "plan," "anticipate,"
"would," "goal," "potential," "potentially," "range," "pursuit," "run rate,"
"stronger," "preliminarily," "forecast," "opinion," etc., is a forward-looking
statement. These forward-looking statements are subject to risks and
uncertainties, including risks and uncertainties associated with the timing of
the deliveries of orders; the risk that future anticipated growth in the Indian
market may prove inaccurate; the risk that our estimate of the size of the Indian
market for our products may prove inaccurate; the risk that our estimate for the
growth of the Indian market for our products may prove inaccurate; as well as
other risks and uncertainties set forth in our Annual Report on Form 10-K filed
March 31, 2009, and as updated in our Quarterly Report on Form 10-Q filed Aug.
13, 2009, particularly those identified in Risk Factors Affecting Our Business.
There can be no assurance that any expectation, express or implied, in a
forward-looking statement will prove correct or that the contemplated event or
result will occur as anticipated.
SOURCE: DRI Corporation
DRI Corporation Contact:
Veronica B. Marks
Manager, Corporate Communications
Phone: (214) 378-4776
Fax: (214) 378-8437
E-Mail: ir@digrec.com
Copyright Business Wire 2009
Cereplast to Benefit from Continuing Strong Growth in Worldwide Bio-Plastics
Market
Global Bio-Plastics Market to Grow 17% Per Year and Reach 1.2 Billion Pounds by
2012
HAWTHORNE, Calif., Oct 27, 2009 (BUSINESS WIRE) -- Cereplast, Inc. (CERP), a
leading manufacturer of proprietary bio-based, sustainable plastics, announced
today that it expects to benefit from continued strong global growth in demand
for bio-plastics and bio-plastic resins.
The German-based Helmut Kaiser Consultancy estimates that the global bio-plastics
market is growing at 20-30 percent per year, and will jump from 400 million
pounds (203,000 tons) in 2006, to 10 billion pounds by 2015. A 2007 report from
US-based BCC Research forecast the global bio-plastics growth rate at 17 percent
per year from 541 million pounds in 2007 to 1.2 billion pounds by 2012.
"The growth is tremendous, but we are only scratching the surface for
bio-plastics," commented Frederic Scheer, Founder, Chairman and CEO of Cereplast.
"Plastic is almost ubiquitous. Think of something in your day-to-day life that
doesn't utilize plastic to some degree. It packages our food, it's in all our
electronics, our furniture, building products, automobiles, medical products,
leisure products... it is everywhere. That is why it is so important to
accelerate the transition from fossil fuel-based, non-sustainable conventional
plastics, to bio-based plastics like Cereplast Compostables(R) resins and
Cereplast Hybrid(R) resins."
Mr. Scheer continued, "The traditional polyolefin plastics market is about 495
billion pounds annually, so there is obvious room for substantial year-over-year
growth in bio-plastics. Furthermore, the technology is now to the point where the
bio-plastics can be manufactured for many of the same uses, and as economically
as conventional plastics.
"We feel that with the inevitable uptick in prices for fossil fuels our industry
will continue to gain acceptance. Consumers are also a driving force, and as the
'green' push gains mainstream acceptance, which seems to be the case, it will
only hasten the pace at which manufacturers adopt bio-plastics," concluded Mr.
Scheer.
About Cereplast, Inc.
Cereplast, Inc. (CERP) designs and manufactures proprietary bio-based,
sustainable plastics which are used as substitutes for petroleum-based plastics
in all major converting processes - such as injection molding, thermoforming,
blow molding and extrusions - at a pricing structure that is competitive with
petroleum-based plastics. On the cutting-edge of bio-based plastic material
development, Cereplast now offers resins to meet a variety of customer demands.
Cereplast Compostables Resins(R) are ideally suited for single use applications
where high bio-based content and compostability are advantageous, especially in
the food service industry. Cereplast Hybrid Resins(R) combine high bio-based
content with the durability and endurance of traditional plastic, making them
ideal for applications in industries such as automotive, consumer electronics and
packaging. Learn more at http://www.cereplast.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. When used in
this press release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such forward-looking
statements. Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the forward-looking statements
contained herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks and
uncertainties. These include, but are not limited to, risks and uncertainties
associated with: the impact of economic, competitive and other factors affecting
the Company and its operations, markets, product, and distributor performance,
the impact on the national and local economies resulting from terrorist actions,
and U.S. actions subsequently; and other factors detailed in reports filed by the
Company.
SOURCE: Cereplast, Inc.
IRTH Communications, LLC
Andrew W. Haag, Managing Partner
310-770-9661
http://www.irthcommunications.com
or
Cereplast, Inc.
Frederic Scheer, CEO
310-676-5000
Investor.relations@cereplast.com
Copyright Business Wire 2009
Radio One, Inc. Announces Annual Shareholders' Meeting
WASHINGTON, Oct 26, 2009 /PRNewswire-FirstCall via COMTEX/ -- Radio One, Inc.
(ROIA.K)(ROIA) will hold its 2009 annual shareholders' meeting on Wednesday,
December 16, 2009, at 9:30 a.m. EST at the Greenbelt Marriott, 6400 Ivy Lane,
Greenbelt, MD, 20770.
The Company previously delayed the 2009 meeting after it received comment letters
from the United States Securities and Exchange Commission (the "SEC") regarding
certain disclosures made in its Form 10-K/A for the year ended December 31, 2008
and the Company's Preliminary Proxy Statement. The Company's Definitive Proxy
Statement filed in connection with the 2009 Annual Meeting will contain materials
responsive to the SEC comments and updating the information on Compensation
Discussion and Analysis and Executive Compensation set forth in the prior Annual
Report on Form 10K/A filed April 30, 2009.
The SEC periodically reviews filings made under the Securities Act of 1933 and
the Securities Exchange Act of 1934 to monitor and enhance compliance with the
applicable disclosure and accounting requirements. As required by the
Sarbanes-Oxley Act of 2002, the SEC undertakes some level of review of each
reporting company at least once every three years.
Radio One, Inc. Click for Detail is one of the nation's largest radio
broadcasting companies and the largest radio broadcasting company that primarily
targets African-American and urban listeners. Radio One currently owns 53
broadcast stations located in 16 urban markets in the United States.
Additionally, Radio One owns Interactive One Click for Detail, an
online platform serving the African-American community through social content,
news, information, and entertainment, which operates a number of branded sites,
including News One, UrbanDaily, HelloBeautiful, and Magazine One, Inc. (d/b/a
Giant Magazine) Click for Detail, interests in TV One, LLC
Click for Detail, a cable/satellite network programming primarily to
African-Americans, Reach Media, Inc. Click for Detail, owner of
the Tom Joyner Morning Show and other businesses associated with Tom Joyner, and
Community Connect Inc. Click for Detail
Electronic Game Card, Inc. to Present at Merriman Curhan Ford's Investor Summit 2009 on November 10th
--Hundreds of Institutional Investors to Attend Conference
IRVINE, Calif. and LONDON, Oct 23, 2009 /PRNewswire-FirstCall via COMTEX/ --
Electronic Game Card, Inc. (EGMI) ("EGC"), engaged in the development, production
and marketing of innovative electronic games and consumer digital platforms,
today announced that its CEO, Kevin Donovan, will present at Merriman Curhan
Ford's 6th annual Investor Summit on November 10, 2009 at 3:30pmET. This event
will be held in New York City.
The presentation will be webcast and can be accessed at the Company's website at
http://www.electronicgamecard.com or http://www.wsw.com/webcast/mcm12/egmi/
More information about the conference can be found at: http://www.mcfco.com
About Electronic Game Card, Inc.
Electronic Game Card, Inc., (EGMI), develops, produces and markets innovative
games to the casinos and lottery, toys and games, education, and promotional
industry worldwide. The Company's lead product is the EGC Electronic
GameCard(TM), a unique credit card-sized pocket game combining patent and
patent-pending proprietary technology of interactive capability with "instant
win" excitement. The "EGC Electronic GameCard(TM)" can be programmed to suit a
variety of gaming and promotion applications.
EGMI's client base is across the $100 billion global market of, sales promotion,
gaming and casinos, Indian gaming and state and national lotteries markets. EGMI
develops sales and marketing relationships with agents and distributors globally
and currently has agents and distributors in North America, United Kingdom,
Ireland, South Korea, Mexico, Italy, Sweden, Norway, Denmark, Finland, South
Africa Australia, New Zealand and Japan.
For further information please visit http://www.electronicgamecard.com
About Merriman Curhan Ford
Merriman Curhan Ford is a financial services firm focused on fast-growing
companies and the institutions that invest in them. The company offers
high-quality investment banking, equity research, institutional services and
corporate & venture services, and specializes in five growth industry sectors:
CleanTech, Consumer, Media & Internet, Health Care, Natural Resources and
Technology. For more information, please go to http://www.mcfco.com.
For More Information Contact:
Yvonne L. Zappulla
Managing Director
Grannus Financial Advisors, Inc.
Call 212-681-4108
e-mail: yvonne@grannusfinancial.com
or
Kevin Donovan
Chief Executive Officer
Electronic Game Card, Inc.
Call 866-924-2924
e-mail: investor.relations@electronicgamecard.com
SOURCE Electronic Game Card, Inc.
http://www.electronicgamecard.com
Copyright (C) 2009 PR Newswire. All rights reserved
Rodman & Renshaw Capital Group, Inc. Announces Record Revenue
Growth Led by Continued Strength in Investment Banking and Merchant Banking
Revenue Related to the Company's Aceras Biomedical Joint Venture
NEW YORK, Oct 22, 2009 (BUSINESS WIRE) -- Rodman & Renshaw Capital Group, Inc.
(RODM) ("Rodman") today announced its results for the third quarter of 2009, with
revenue of $65.6 million and net income of $15.5 million or $0.40 per diluted
share. Adjusting for certain events related to non-cash principal transactions,
conference related revenue and expenses, non-recurring legal fees and the
impairment of goodwill, the Company reported net income on a non-U.S. GAAP basis
of $16.3 million, or $0.42 per diluted share, compared to net income on a
non-U.S. GAAP basis of $11.3 million, or $0.30 per share, for the second quarter
of 2009. A reconciliation between GAAP results and non-GAAP measures is contained
in the tables that accompany this release, under "Non-GAAP Financial Measures."
Rodman will hold a conference call this morning, October 22, 2009 at 10 A.M.
(EDT) (see Conference Call Information below) to discuss these results.
Financial Highlights:
Third Quarter Revenue
-- Revenue was $65.6 million, compared to $33.4 million in the second quarter of
2009.
-- Investment banking revenue was $31.3 million, compared to $27.0 million in the
second quarter of 2009.
-- Merchant banking revenue of $28.6 million was triggered by a valuation, as
required by GAAP, of the assets of the Company's Aceras Biomedical joint venture.
The valuation was performed by an independent valuation firm.
-- Merchant banking revenue, net of non-controlling interest of $15.0 million,
was $13.6 million.
-- Revenue excluding principal transactions was $63.2 million, compared to $27.8
million in the second quarter of 2009.
-- The Company completed 32 financing transactions raising $634.7 million,
compared to 25 financing transactions raising $399.4 million, in the second
quarter. The Company was once again ranked the number one investment bank in PIPE
transactions by volume for the third quarter and the first nine months of
2009.(1)
Third Quarter Net Income
-- Net income was $15.5 million, or $0.40 per diluted share, compared to net
income of $15.9 million, or $0.42 per diluted share, for the second quarter of
2009.
-- Adjusting for certain events related to non-cash principal transactions,
conference related revenue and expenses, non-recurring legal fees and the
impairment of goodwill, the Company reported net income on a non-U.S. GAAP basis
of $16.3 million, or $0.42 per diluted share, compared to net income of $11.3
million on a non-U.S. GAAP basis, or $0.30 per diluted share, for the second
quarter of 2009.
-- A reconciliation between GAAP results and non-GAAP measures is contained in
the tables that accompany this release, under "Non-GAAP Financial Measures."
(1) Source: Sagient Research Systems, a leading publisher of independent research
for the financial services and institutional investment communities.
Edward Rubin, Rodman & Renshaw CEO and President said, "Our third quarter results
reflect the positive contribution of our core life science business as well as an
increased level of financing activity in our other targeted verticals. The third
quarter was further highlighted by the growth in relatively new business areas to
Rodman, including merchant banking where our Aceras Biomedical joint venture
continues to build balance sheet strength and our capital markets group which
increased its activity in the public offerings arena. Further, we prevailed in
the FINRA arbitration proceeding involving a former employee bringing a
successful close to this issue. As we demonstrated in the last two quarters, we
are well positioned to capitalize on our core strengths in this market
environment. We are optimistic that Rodman can continue its recent success if
current market conditions continue or further improve."
BUSINESS HIGHLIGHTS
Investment Banking
Investment banking revenue was $31.3 million for the third quarter, which
included $9.0 million related to warrants received as compensation for activities
as underwriter or placement agent valued using Black-Scholes, compared to $27.0
million in investment banking revenue, which included $9.7 million related to
warrants received, for the second quarter of 2009. Private placement and
underwriting revenue for the third quarter was $30.4 million, compared to $25.4
million for the second quarter of 2009. Strategic advisory fees for the third
quarter were $0.9 million, compared to $1.6 million for the second quarter of
2009.
Merchant Banking
Merchant banking revenue, consisting of gains (or losses) on investments by the
Company's Aceras Biomedical joint venture and other principal investments
activity, was $28.6 million. Merchant banking revenue, net of non-controlling
interest of $15.0 million, was $13.6 million. The Company recognizes revenue on
investments in its merchant banking segment based on consolidated realized and
unrealized gains (or losses) reported, including by Aceras Biomedical. The value
of Aceras Biomedical's assets was determined based on an independent valuation
prepared as of September 30, 2009, taking into consideration the cost of the
investment, market participant inputs, estimated cash flows based on entity
specific criteria, purchase multiples paid in other comparable third-party
transactions, market conditions, liquidity, operating results and other
qualitative and quantitative factors. The values at which the Company's
investments are carried on its books are adjusted to estimated fair value at the
end of each quarter and the instability in general economic conditions, stock
markets and regulatory conditions may result in significant changes in the
estimated fair value of these investments.
Sales & Trading
-- Commissions for the third quarter were $1.6 million, compared to $0.7 million
for the second quarter of 2009.
-- Principal transactions revenue for the third quarter was $2.4 million,
compared to a $5.6 million for the second quarter of 2009.
Operating Expenses
Compensation Expense
-- Employee compensation and benefits expense for the third quarter was $25.5
million, compared to $11.8 million for the second quarter of 2009.
-- Employee compensation and benefits expense for the third quarter represented
50% of revenue (less net income to non-controlling interest), compared to 35% for
the second quarter of 2009. For the first nine months of 2009, employee
compensation and benefits expense represented 55% of revenue (less net income to
non-controlling interest).
-- The Company had 117 employees at September 30, 2009, compared to 105 employees
at June 30, 2009.
-- Although the number of employees increased by 11%, fixed compensation expenses
remained relatively flat as compared to the second quarter of 2009 due largely to
the hiring of commission based employees.
Non-Compensation Expense
Non-compensation expense for the third quarter, excluding impairment of goodwill,
was $9.5 million, compared to $5.0 million for the second quarter of 2009. The
increase in non-compensation expense for the third quarter was due to: (a) $3.2
million of expenses related to the recently completed fall conference held in New
York City; (b) $0.4 million related to an expanded technology based marketing
program which commenced during the quarter; and (c) increased legal expenses
related to the FINRA arbitration proceedings involving a former employee. During
the quarter the FINRA Arbitration Panel issued its finding dismissing all
counterclaims against the Company and finding in the Company's favor on numerous
substantive claims. A hearing to determine damages suffered by the Company is
expected to occur during the fourth quarter.
Income Taxes
Due to the prior period operating losses, the Company did not record a material
amount of income tax expense for the third quarter of 2009. The Company will
continue to review the value of our net deferred tax assets and may reverse a
portion of its valuation allowance associated with these net deferred tax assets
if the Company continues to generate sufficient operating income in the future.
Capital
Cash and cash equivalents were $20.1 million at September 30, 2009, compared to
$14.3 million at June 30, 2009. Liquid assets were $30.2 million at September 30,
2009, consisting of cash and cash equivalents, "Level I" assets less "Level I"
liabilities and current receivables, compared to $19.5 million at June 30, 2009.
Book value per common share at September 30, 2009 was $1.36. Book value per
common share, excluding non-controlling interest, is based on common shares
outstanding including unvested and vested restricted stock and restricted stock
units.
Because of the nature of our business, and the volatility of the capital markets,
we regularly monitor our liquidity position and explore capital raising
alternatives. In that respect, on October 21, 2009, we filed a shelf registration
statement with the SEC covering our potential sale, from time to time, of up to
$75 million of our equity and/or debt securities. Such filing also covers the
potential sale, from time to time, of up to three million shares of our currently
outstanding common stock by specified selling stockholders.
About Rodman & Renshaw Capital Group, Inc.
Rodman & Renshaw Capital Group, Inc. is a holding company with a number of direct
and indirect subsidiaries, including Rodman & Renshaw, LLC.
Rodman & Renshaw, LLC is a full-service investment bank dedicated to providing
corporate finance, strategic advisory and related services to public and private
companies across multiple sectors and regions. The company also provides research
and sales and trading services to institutional investors. Rodman is the leader
in the PIPE (private investment in public equity) and RD (registered direct
offering) transaction markets. Rodman has been ranked the #1 Placement Agent in
terms of the aggregate number of PIPE and RD financing transactions completed
every year since 2005 and 2009 year-to-date. For more information visit Rodman &
Renshaw on the Internet at http://www.rodm.com.
MEMBER FINRA, SIPC
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements regarding future events
and financial performance. In some cases, you can identify these statements by
words such as "may," "might," "will," "should," "except," "plan," "intend,"
"anticipate," "believe," "estimate," "predict," "potential," or "continue," the
negative of these terms and other comparable terminology. These statements
involve a number of risks and uncertainties and are based on numerous assumptions
involving judgments with respect to future economic, competitive and market
conditions and future business decisions, all of which are difficult or
impossible to predict accurately and many of which are beyond the Company's
control. There are or may be important factors that could cause our actual
results to materially differ from our historical results or from any future
results expressed or implied by such forward looking statements.
These factors include, but are not limited to, those discussed under the section
entitled "Risk Factors" in our Annual Report on Form 10-K, filed March 12, 2009,
which is available at the U.S. Securities and Exchange Commission website at
http://www.sec.gov. The forward-looking statements in this press release are
based upon management's reasonable belief as of the date hereof. The Company
undertakes no obligation to revise or update publicly any forward-looking
statements for any reason.
Conference Call Information
In conjunction with this earnings release, Rodman & Renshaw senior management
will host a conference call at 10:00 A.M. EDT, hosted by Edward Rubin, Chief
Executive Officer and David Horin, Chief Financial Officer. Investors and
analysts can participate in the conference call by dialing 1-877-407-8031 (United
States) or 1-201-689-8031 (International).
The conference will be replayed in its entirety beginning at approximately 1:00
P.M. EDT on October 22, 2009, through to 11:59 P.M. EDT on October 29, 2009. If
you wish to listen to the replay of this conference call, please dial
1-877-660-6853 (United States) or 1-201-612-7415 (International) and use Account
#286, Conference #335225.
The conference call will also be simultaneously broadcast live over the Internet,
as well as for replay, and can be accessed through the webcasts and presentations
tab of the investor relations section of the Rodman website located at
http://www.rodm.com. Please allow for some time following the completion of the
conference call to access the archive of the Web cast.
RODMAN & RENSHAW CAPITAL GROUP, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Financial Condition as of
September 30, 2009 (Unaudited)
and December 31, 2008
Dollars in Thousands, Except Per Share AmountsSeptember 30,December 31,
20092008
(Unaudited)
Assets
Cash and cash equivalents
Unrestricted$19,034$18,383
Restricted1,0383,371
Total cash and cash equivalents20,07221,754
Financial instruments owned, at fair value63,09513,872
Private placement and other fees receivable7,6161,975
Receivable from brokers, dealers & clearing agencies2,8692,714
Prepaid expenses575439
Property and equipment, net2,0661,390
Other assets3,0772,632
Other intangible assets, net2,1672,906
Total Assets$101,537$47,682
Liabilities and Stockholders'
Equity
Accrued compensation payable$21,776$4,882
Accounts payable and accrued expenses4,6465,954
Acquisitions related payables3,3114,950
Financial instruments sold, not yet purchased, at fair value1,6751,361
Total Liabilities31,40817,147
Stockholders' Equity
Common stock, $0.001, par value; 100,000,000 shares authorized;
35,918,222 and 35,044,670 issued as of September 30, 2009 and
December 31, 2008, respectively3635
Preferred stock, $0.001 par value; 1,000,000 authorized; none issued----
Additional paid-in capital75,84970,441
Treasury Stock, 534,500 shares(1,034)(1,034)
Accumulated deficit(19,722 )(38,907 )
Total common stockholders' equity55,12930,535
Non-controlling interest15,000--
Total Stockholders' Equity70,12930,535
Total Liabilities and$101,537$47,682
Stockholders' Equity
RODMAN & RENSHAW CAPITAL GROUP, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations for the
Three Month and Nine Month Periods Ended September 30, 2009 and
2008 (Unaudited)
Amounts in Thousands, Except Per Share AmountsThree Months EndedNine Months Ended
September 30,September 30,
2009200820092008
Revenue:
Investment banking$31,253$11,924$65,129$43,109
Merchant banking28,628--28,628--
Commissions1,6421,3963,1554,695
Conference fees1,579--1,579843
Principal transactions2,400(4,923)6,0733,858
Interest and other income48166220771
Total revenue$65,550$8,563$104,784$53,276
Operating expenses:
Compensation and benefits25,4705,94549,38126,701
Conference fees3,211--3,2112,003
Professional and consulting fees2,2102,4015,0504,392
Occupancy and equipment rentals7649992,3411,905
Advertising and marketing7404121,140780
Communication and market research7157192,0181,882
Depreciation and amortization5167621,8911,216
Business development4687981,4912,899
Office supplies186151446392
Impairment of goodwill----1,3271,065
Other6886412,2522,056
Total operating expenses34,96812,82870,54845,291
Income (loss) before income taxes30,582(4,265)34,2367,985
Income taxes (expense) benefit(42)1,415(51)(3,734)
Net income (loss)30,540(2,850)34,1854,251
Less: Net income to non-controlling interest(15,000 )--(15,000)--
Net income (loss) to common stockholders$15,540$(2,850 )$19,185$4,251
Net income (loss) per share:
Net income (loss) to common stockholders
Basic$0.44$(0.08)$0.54$0.13
Diluted$0.40$(0.08)$0.51$0.12
Weighted average common shares
outstanding:
Basic35,64533,73335,37333,224
Diluted38,52233,73337,37934,862
The table below reconciles weighted average number of common shares outstanding,
basic and diluted, for the three and nine month periods ended September 30, 2009
and 2008:
Shares in ThousandsThree months endedNine months ended
September 30,September 30,
2009200820092008
Shares Outstanding (weighted average)(1)35,38139,37234,93636,798
Unearned restricted stock(2)(192)(5,639 )(244)(3,574 )
Earned restricted stock units(3)456--681--
Common shares outstanding, basic35,64533,73335,37333,224
Common shares upon exercise of options(4)----51197
Common shares upon vesting of non-vested restricted stocks and RSUs(4)2,877--1,9551,441
Weighted average number of common shares outstanding, diluted38,52233,73337,37934,862
(1)Shares outstanding represents shares issued less shares repurchased
in treasury stock. Shares outstanding includes public and private
offerings, earned and unearned restricted stock, distributions
related to restricted stock units and stock option exercises. Shares
outstanding do not include undistributed earned and unearned
restricted stock units.
(2)As restricted stock is contingent upon a future service condition,
unearned shares are removed from shares outstanding in the
calculation of basic EPS as the Company's obligation to issue these
shares remains contingent.
(3)As earned restricted stock units are no longer contingent upon a
future service condition and are issuable upon a certain date in the
future, earned restricted stock units are added to shares
outstanding in the calculation of basic EPS.
(4)Calculated under the treasury stock method in accordance with SFAS
128, Earnings per Share. The treasury stock method assumes the
issuance of only a net incremental number of shares as proceeds from
issuance are assumed to be used to repurchase shares at the average
stock price for the period.
Non-GAAP Financial Measures
The Company has utilized the non-GAAP information set forth below as an
additional device to aid in understanding and analyzing its financial results for
the three months ended September 30, 2009 and June 30, 2009. Management believes
that these non-GAAP measures will allow for a better evaluation of the operating
performance of the Company's business and facilitate meaningful comparison of the
results in the current period to those in prior and future periods. Reference to
these non-GAAP measures should not be considered a substitute for results that
are presented in a manner consistent with GAAP.
A limitation of utilizing these non-GAAP measures is that GAAP accounting does in
fact reflect the underlying financial results of the Company's business.
Therefore, management believes that the GAAP measures as well as the
corresponding non-GAAP measures of the Company's financial performance should be
considered together.
A reconciliation of the Company's third quarter September 30, 2009 and second
quarter June 30, 2009 GAAP net income (loss) to its third quarter September 30,
2009 and second quarter June 30, 2009 non-GAAP net income (loss) is set forth
below (in millions):
Net income for the three months ended September 30, 2009$ 15.5
Exclusion of principal transaction (gains) losses, net of related(1.0 )
compensation
Third quarter conference related revenue and expenses as if recorded1.2
evenly throughout the year
Exclusion of legal fees related to an arbitration - concluded in0.6
September 2009
Exclusion of goodwill impairment charge--
Non-GAAP net income for the three months ended September 30, 2009$ 16.3
Net income for the three months ended June 30, 2009$ 15.9
Exclusion of principal transaction (gains) losses, net of related(5.2 )
compensation
Third quarter conference related revenue and expenses as if recorded(0.4 )
evenly throughout the year
Exclusion of legal fees related to an arbitration - concluded in0.4
September 2009
Exclusion of goodwill impairment charge0.6
Non-GAAP net income for the three months ended June 30, 2009$ 11.3
The Company calculates income (loss) per share in accordance with FASB Statement
No. 128, Earnings per Share. Basic and diluted income (loss) per share is
calculated by dividing net income (loss) by the weighted average number of common
shares outstanding for the period.
The following table sets forth the Company's GAAP basic and diluted weighted
average shares outstanding and its GAAP basic and diluted income (loss) per share
for the second and first quarter of 2009, after applying the adjustments
described above:
Amounts in Thousands, Except Per Share AmountsThree Months EndedThree Months Ended
September 30,June 30,
20092009
Weighted average shares used in computation of income per share:
Basic35,64535,669
Diluted38,52237,883
Income per share:
Basic$ 0.44$ 0.45
Diluted$ 0.40$ 0.42
Non-GAAP income per share:
Basic$ 0.46$ 0.32
Diluted$ 0.42$ 0.30
SOURCE: Rodman & Renshaw Capital Group, Inc.
Rodman & Renshaw Capital Group, Inc.
Dave Horin, 212-356-0545
Chief Financial Officer
Copyright Business Wire 2009
DRI Corporation Announces Order for Mobitec(R) Products in Singapore Transit
Market
Company Establishes New Business Unit to Directly Serve the Region
DALLAS, Oct 20, 2009 (BUSINESS WIRE) -- DRI Corporation (DRI) (TBUS), a digital
communications technology leader in the global surface transportation and transit
security markets, announced today that the Company's Mobitec AB (Mobitec)
subsidiary in Sweden has secured an order of strategic significance from a
transit system operator in Singapore.
David L. Turney, the Company's Chairman, President and Chief Executive Officer,
said: "This order for Mobitec(R) electronic destination sign systems is
strategically relevant in that it marks significant progress in an important
Asian transit market. The Singapore operator's multi-modal transit fleet includes
more than 900 bus vehicles and 100 rail cars. Product delivery commenced in third
quarter 2009 and is expected to conclude in first quarter 2010. Additionally, we
have opened a new business unit, Mobitec Far East Pte. Ltd., as part of our
'global reach -- local touch' market approach. The new business unit will help
position the Mobitec subsidiary for future business opportunities in Singapore
and the surrounding region. Overall, the region has more than 5,000 new transit
bus vehicle registrations annually."
Mobitec, a global supplier of electronic information display systems, is highly
respected for its products, technology, service, and quality. Mobitec is based in
Herrljunga, Sweden. It presently operates business units in Australia, Brazil,
Germany and Singapore, as well as a joint venture in India. For more information,
visit http://www.mobitec.eu.
ABOUT THE COMPANY
DRI Corporation is a digital communications technology leader in the global
surface transportation and transit security markets. Our products include:
TwinVision(R) and Mobitec(R) electronic destination sign systems, Talking Bus(R)
voice announcement systems, Digital Recorders(R) Internet-based passenger
information and automatic vehicle location/monitoring systems, and VacTell(R)
video actionable intelligence systems. Our products help increase the mobility,
flow, safety, and security of people who rely upon transportation infrastructure
around the globe. Using proprietary hardware and software applications, our
products provide easy-to-understand, real-time information that assists users and
operators of transit bus and rail vehicles in locating, identifying, boarding,
tracking, scheduling, and managing those vehicles. Our products also aid transit
vehicle operators in their quest to increase ridership and reduce fuel
consumption, as well as to identify and mitigate security risks on transit
vehicles. Positioned not only to serve and address mobility, energy conservation,
and environmental concerns, our products also serve the growing U.S. Homeland
Security market. For more information about the Company and its operations
worldwide, go to http://www.digrec.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. In particular, any
statement concerning the timing of the deliveries of orders; the establishment of
the Mobitec Far East Pte. Ltd. business unit and its role in the Company's
business expansion plans in Asia; as well as any statement, express or implied,
concerning future events or expectations or which use words such as "expect,"
"fully expect," "expected," "appears," "believe," "plan," "anticipate," "would,"
"should," "goal," "potential," "potentially," "range," "pursuit," "run rate,"
"stronger," "preliminarily," "forecast," "opinion," etc., is a forward-looking
statement. These forward-looking statements are subject to risks and
uncertainties, including risks and uncertainties associated with the timing of
the deliveries of orders; the risk that the establishment of the Mobitec Far East
Pte. Ltd. business unit may not aid the Company's business expansion plans in
Asia; as well as other risks and uncertainties set forth in our Annual Report on
Form 10-K filed March 31, 2009, and as updated in our Quarterly Report on Form
10-Q filed Aug. 13, 2009, particularly those identified in Risk Factors Affecting
Our Business. There can be no assurance that any expectation, express or implied,
in a forward-looking statement will prove correct or that the contemplated event
or result will occur as anticipated.
SOURCE: DRI Corporation
DRI Corporation Contact:
Veronica B. Marks
Manager, Corporate Communications
Phone: (214) 378-4776
Fax: (214) 378-8437
E-Mail: ir@digrec.com
Copyright Business Wire 2009
ASRG = debt-free, cash-rich teeny tiny float (1 million) starting to make big money hand over fist with a sexy business model that's rapidly growing with fat profit margins.
ASRG is a surgical assistant staffing company:
http://www.asainc.us/
They are currently experiencing incredible success in just 3 states and are currently expanding their easily duplicated and extremely successful business model across Texas and ultimately throughout the rest of the USA.
Last Q earned +.095/share for an annualized rate of +.38 EPS and growing. Seems like a multi-bagger in progress.
PE of 10 = $3.80
PE of 15 = $5.70
PE of 20 = $7.60
(subject to adjustment based on earnings which could easily be significantly higher IMO)
And as much as I hate to use an anonymous poster as a source of DD, take this with a grain of salt. This normally humble company that rarely issues PRs: "when I congratulàted the cfo on a great quarter he said "just wait, you ain't seen nothin yet!" They are hoping to sign an additional 6 hospitals by year end and likely it will be a few more than that. The cfo said their growth had previously been cash constrained. It is not now. Also as they get larger they build brand name awareness making their services an easier sell."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41349211
ASRG Board:
http://investorshub.advfn.com/boards/board.aspx?board_id=9099
TCNH, from yesterday's 10k, "The Company is aggressively moving forward towards the collection of this award and expects resolution before June 30, 2010. "
EGMI has more big news today filed in an 8-K today. They have a deal with Poken which is a relatively new social networking contact exchange mechanism. To me this looks like a new must have device for professionals and could be a blockbuster addition to EGMI!
http://cms.doyoupoken.com/web/guest/
http://www.orderpoken.com/
Item 8.01 Other Events.
Memorandum of Understanding for Investment in Poken Holding AG and Agreement to Form Joint Venture
Electronic Game Card, Inc. (OTCBB: EGMI) (“EGC” or the “Company”), announced on October 12, 2009, that it has signed a memorandum of understanding (“MOU”) to form a strategic partnership with Poken Holding AG (“POKEN AG”), a privately held company based in Kilssnacht, Switzerland that owns the POKEN product and related intellectual property (“POKEN”). POKEN is a next-generation RF technology-based social networking platform.
Under the terms of the MOU, EGC and POKEN AG plan to form a joint venture that is intended to have the exclusive rights to market, sell and distribute POKENs in North America. EGC would own sixty percent (60%) of the joint venture and POKEN AG would own the remaining 40%. In addition under the MOU, EGC would become a strategic partner of POKEN AG by investing approximately $500,000 in POKEN AG in exchange for approximately 3.45 percent ownership of POKEN AG. Upon completing the investment, EGC would have one of six seats on the POKEN AG board of directors .
This Item 8.01 contains disclosures that are forward-looking statements. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “continue,” “efforts,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “projects,” “forecasts,” “strategy,” “will,” “goal,” “target,” “prospects,” “potential,” “optimistic,” “confident,” “likely,” “probable” or similar expressions. These forward-looking statements are based on current expectations or beliefs and include, but are not limited to, statements about EGC’s, POKEN AG’s or the proposed joint venture’s (collectively, “companies’”): ability to develop, expand and grow business; anticipated operation, size, growth and development of social networking and other relevant markets throughout the world; and terms, timing and successful formation of, the proposed joint venture. Statements of historical fact also may be deemed to be forward-looking statements. EGC cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: the companies’ ability and willingness to satisfy conditions precedent to the formation and operation of the joint venture, including without limitation, obtaining regulatory approvals; the companies’ ability to meet their obligations under existing and anticipated contractual obligations; the companies’ ability to develop, market, sell and distribute desirable applications, products and services; the ability and willingness of third-party manufacturers to timely and cost-effectively fulfill orders from the companies; the ability of the companies’ customers to pay and the timeliness of such payments, particularly during recessionary periods; the companies’ ability to protect their respective intellectual property; the companies’ ability to obtain financing as and when needed; changes in consumer demands and preferences; the companies’ ability to attract and retain management and employees with appropriate skills and expertise; the impact of changes in market, legal and regulatory conditions and in the applicable business environment, including actions of competitors; and other factors as may be discussed in the documents filed by the companies with regulatory authorities, including without limitation, EGC’s annual report on Form 10-K for December 31, 2008 filed with the Securities and Exchange Commission and any other filings that identify important risk factors that could cause actual results to differ from those contained in forward-looking statements. Unless otherwise required by applicable law, EGC undertakes no obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
EGC Plans to Present at 2009 Roth China Conference
EGC is scheduled to present at the upcoming 2009 Roth China Conference on Wednesday, October 14, 2009, at 12:30 p.m. Easter n Time at the Fontainebleau, Miami Beach, Florida. The presentation will be webcast and can be accessed at EGC’s website at www.electronicgamecard.com or http://www.wsw.com/webcast/roth22/egmi . The Roth Conference begins Tuesday, October 13, 2009, at 8:00a.m.
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Electronic Game Card, Inc.
By: /s/ Thomas E. Schiff
Chief Financial Officer
October 12, 2009
Electronic Game Card, Inc. Partners with China LotSynergy To Enter the Chinese Lottery Market
On 8:04 am EDT, Tuesday October 13, 2009
NEW YORK and LONDON, Oct. 13 /PRNewswire-FirstCall/ -- Electronic Game Card, Inc. (OTC Bulletin Board: EGMI - News; "EGC"), announced today that it has signed a definitive agreement to partner with China LotSynergy Holdings Ltd. ("CLS") to enter the Chinese lottery market. The companies will conduct initial trials during the next few months in China to ensure optimum offering for the market. China LotSynergy, publicly traded in Hong Kong (8161.HK), is an established leader in lottery technology in the fast growing Chinese Lottery market, with extensive local expertise and established contracts. One of CLS' missions is to implement innovative applications that will further develop China's Lottery industry.
"This agreement to partner places EGC on a path that may lead to substantial business in China, and provides an incredible opportunity for EGC to work with a lottery industry leader focused on using innovative technology to expand and grow their business in a potentially very large market," stated Kevin Donovan, CEO of Electronic Game Card, Inc. "China's burgeoning lottery market is projected to grow substantially. Although the industry has been operating for a number of years, it is newly regulated, opening vast opportunities to expand in a secure consumer environment."
In China authorized lotteries generated approximately 106 billion yen (US$15.5 billion) in revenues in 2008 experiencing approximately 15 percent compound annual growth over the past decade.
Ivy Lau, Chairperson and CEO of China LotSynergy commented, "Our goal is to contribute to the secure operation and healthy development of China's lottery market. We have formed partnerships with global industry leaders such as International Game Technology ("IGT"), GTECH, and, now, Electronic Game Card to ensure the success of our mission. We are actively engaged in enriching the variety and content of games. The Electronic GameCard(TM) is an engaging next generation platform that we believe will contribute materially to the accelerated growth target of the lottery industry in China and throughout the region."
Under the terms of the Strategic Partnership, EGC will provide the China LotSynergy Electronic Lottery GameCards for initial sales and marketing efforts. In addition to the Lottery GameCards, EGC and CLS will also cooperate in markets involving royalty credit and gift projects. In addition to the People's Republic of China territory, once a joint venture between the companies is established, the joint venture will have the right of first refusal for further distribution expansion into the Asia Pacific region including Hong Kong, Macau, Taiwan, Malaysia Vietnam, Singapore, Philippines, Cambodia, North Korea, Indonesia, Thailand, Laos, Brunei, Fiji, and Federated States of Micronesia, excluding Japan and South Korea.
About Electronic Game Card, Inc.
Electronic Game Card, Inc., (OTC Bulletin Board: EGMI - News), develops, produces and markets innovative games to the promotional industry worldwide, toys and games, casinos and lottery. The Company's lead product is the EGC Electronic GameCard(TM), a unique credit card-sized pocket game combining patent and patent-pending proprietary technology of interactive capability with "instant win" excitement. The "EGC Electronic GameCard(TM)" can be programmed to suit a variety of gaming and promotion applications.
EGMI's client base is across the $100 billion global market of, sales promotion, gaming and casinos, Indian gaming and state and national lotteries markets. EGMI develops sales and marketing relationships with agents and distributors globally and currently has agents and distributors in North America, United Kingdom, Ireland, Mexico, Italy, South Korea, Sweden, Norway, Denmark, Finland, South Africa Australia, New Zealand and Japan.
For further information please visit www.electronicgamecard.com.
About China LotSynergy Holdings Limited
China LotSynergy ("CLS") is principally engaged in investment, project development and the provision of technologies and equipment and consultancy services in lottery business and related sectors in the People's Republic of China. The Company is listed on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited.
Certain statements in this news release may constitute "forward-looking" statements within the meaning of section 21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Risk factors are listed in the most recent Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB filed with the Securities and Exchange Commission.
Contacts:
Yvonne L. Zappulla
Managing Director
Grannus Financial Advisors, Inc.
(212) 681-4108
yvonne@grannusfinancial.com
Kevin Donovan
Chief Executive Officer
Electronic Game Card, Inc.
(866) 924-2924
investor.relations@electronicgamecard.com
DRI Corporation Announces New Sign System Product for U.S. Public Transit Market
TwinVision(R) Silver Smart Series Debuts at Recent Transit Industry Conference
DALLAS, Oct 13, 2009 (BUSINESS WIRE) -- DRI Corporation (DRI) (TBUS), a digital
communications technology leader in the global surface transportation and transit
security markets, announced today that its TwinVision na, Inc. subsidiary in
Durham, N.C., recently launched a new electronic destination sign system product,
the TwinVision(R) Silver Smart Series.
David L. Turney, Chairman, President, and Chief Executive Officer, said: "The new
TwinVision(R) Silver Smart Series is from our ongoing product development
pipeline. We've led the introduction of new electronic display technologies many
times in the last few years. This latest product recently debuted at the American
Public Transportation Association's Annual Meeting in Orlando, Fla., where it
received widespread interest. We expect shipments to begin in first quarter 2010
and we anticipate future orders for the new product to result in an improved U.S.
market position."
The new solid-state display product features high intensity "sterling" LEDs that
provide exceptionally brilliant messages and graphics while reducing power
consumption and carbon footprint. The product helps reduce fleet maintenance
costs and system diagnostic times.
ABOUT THE TWINVISION NA, INC. SUBSIDIARY
Established in 1996, TwinVision na, Inc. designs, manufactures, sells, and
services TwinVision(R) electronic destination sign systems used on public transit
vehicles. With leading edge technology, the subsidiary was the first established
U.S. supplier to bring amber- and multi-colored, solid-state displays to the U.S.
market, innovatively replacing the decades' old flip-dot, bulb, and ballast
technology. For more information, visit http://www.twinvisionsigns.com.
ABOUT THE COMPANY
DRI Corporation is a digital communications technology leader in the global
public transportation and transit security markets. Our products include:
TwinVision(R) and Mobitec(R) electronic destination sign systems, Talking Bus(R)
voice announcement systems, Digital Recorders(R) Internet-based passenger
information and automatic vehicle location/monitoring systems, and VacTell(TM)
video actionable intelligence systems. Our products help increase the mobility,
flow, safety, and security of people who rely upon transportation infrastructure
around the globe. Using proprietary hardware and software applications, our
products provide easy-to-understand, real-time information that assists users and
operators of transit bus and rail vehicles in locating, identifying, boarding,
tracking, scheduling, and managing those vehicles. Our products also aid transit
vehicle operators in their quest to increase ridership and reduce fuel
consumption, as well as to identify and mitigate security risks on transit
vehicles. Positioned not only to serve and address mobility, energy conservation,
and environmental concerns, our products also serve the growing U.S. Homeland
Security market. For more information about the Company and its operations
worldwide, go to http://www.digrec.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. In particular, statements
concerning the timing and amount of new orders or their expected delivery and
installation dates, the potential benefit such orders may have on our ongoing
operations, our belief that expected orders may reflect growing market acceptance
of our products, together with any statement, express or implied, concerning
future events or expectations, is a forward-looking statement. Use of words such
as "suggest," "expect," "fully expect," "expected," "appears," "believe," "plan,"
"anticipate," "would," "should," "goal," "potential," "potentially," "range,"
"pursuit," "run rate," "stronger," "preliminarily," "guidance," "may," etc., is
intended to identify forward-looking statements that are subject to risks and
uncertainties, including the risk that the assumptions behind the product order,
delivery and installation are incorrect, that we have misperceived the market
acceptance of our products, as well as other risks and uncertainties set forth in
our Annual Report on Form 10-K filed March 31, 2009, and quarterly report on Form
10-Q filed Aug. 13, 2009, particularly those identified in Risk Factors Affecting
Our Business. There can be no assurance that any expectation, express or implied,
in a forward-looking statement will prove correct or that the contemplated event
or result will occur as anticipated.
SOURCE: DRI Corporation
DRI Corporation Contact:
Veronica B. Marks
Manager, Corporate Communications
Phone: (214) 378-4776
Fax: (214) 378-8437
E-Mail: ir@digrec.com
Copyright Business Wire 2009
CERP = sexy momo story (biodegradable plastic) partnering with some monster names as customers.
Georgia-Pacific Contract:
http://www.cereplast.com/pressrealeasedetail.php?newsid=111
Bunge Alimentos, the largest foods company in Brazil, now a CERP customer. Bunge Alimentos is owned by Bunge (NYSE: BG), $7 billion market cap company.
http://www.cereplast.com/pressrealeasedetail.php?newsid=121
"Twenty customers, including WNA, Alcoa, Genpak, Innoware, Penley, Solo, Cadaco, Jatco, Dentek, CSI-Cosmolab and Pace Industries, have commercialized and introduced over 85 different bioplastic products using our resin."
http://www.cereplast.com/pressrealeasedetail.php?newsid=101
Website:
http://www.cereplast.com/homepage.php
CERP brief video:
http://www.cereplast.com/video/Cereplast.swf <~~~~ a must watch!!
CERP on the Discovery Channel:
http://dsc.discovery.com/videos/how-stuff-works-corn-plastic.html
CERP featured in Newsweek:
http://www.businessweek.com/technology/content/mar2008/tc20080317_387901.htm?chan=top+news_top+news+index_technology
CERP mentioned in Forbes magazine:
http://www.forbes.com/2009/03/31/cleantech-venture-capital-technology-breakthroughs-cleantech.html
CERP in other media sources:
http://www.cereplast.com/pressarticle.php
CERP PRs:
http://www.cereplast.com/pressrealease_ir.php
MBLX = CERP competitor with a $250 million market cap with less sales. Shows you how the sexiness of this market can really boost a stock price. If CERP turns a profit like I think they will soon this thing could really soar IMO
http://finance.yahoo.com/q?s=mblx&.yficrumb=VEgnL5u9YC9
CERP message board:
http://investorshub.advfn.com/boards/board.aspx?board_id=7696
ROIAK printed $1.52 today and is a triple from my call at $0.50!
VBDG products now selling (finally) at these huge retailers through their giant partner P2F Holdings who has agreed to bankroll all of their retail orders agreeing to manufacture, distribution, delivery, inventory, and overhead for VBDG's retail sales and split the profits with VBDG, giving back VBDG royalty checks which are 100% profit to VBDG since P2F will bankroll EVERYTHING.
Milen's Website:
http://www.milenasseenontv.com/
In the dream contract, P2F is guaranteeing them as absolute contracted minimums millions of dollars every year which is virtually all profit since P2F is taking on all of the risk & expenses. Meanwhile, VBDG's expenses on top of this have fallen off a cliff.
In the mean time, while P2F does all the work, takes all the risk, and handles all of the expenses, VBDG is left to develop new products and focus on the development and selling via infomercial while receiving guaranteed large checks from P2F. Total dilution = 0 shares, 0 warrants. Absolutely NONE.
One of VBDG's new products, the Tool Bandit, was featured on the Discovery Channel who in turn forecasts up to $700,000 per week in sales from it!!!
RODM continuing to run like a headless chicken, weeeeeeeeeeeeeeeeeeeeeeee!!!!!
Rock on! I was just an hour ago whining to myself that RODM should have closed an AH Friday deal.... woo hoo!
More RODM business....
Keryx Biopharmaceuticals, Inc. to Raise $20 Million in Registered Direct Offering
On Friday September 25, 2009, 5:25 pm EDT
NEW YORK, Sept. 25 /PRNewswire-FirstCall/ -- Keryx Biopharmaceuticals, Inc. (the "Company") (Nasdaq: KERX - News), has entered into definitive agreements to sell 8 million shares of its common stock at a price per share of $2.50 pursuant to a registered direct offering to several select institutional investors, representing gross proceeds of approximately $20 million.
Investors will also receive warrants to purchase 2,800,000 shares of the Company's common stock. The warrants have an exercise price of $2.65 per share and are exercisable at any time on or after the closing date and prior to 366 days from such initial issuance date. The closing of the offering is expected to take place on or about Wednesday, September 30, 2009, subject to the satisfaction of customary closing conditions. The Company plans to use the net proceeds from the offering to fund the upcoming Phase 3 programs for its lead drug candidates, Perifosine, a novel, oral PI3K/AKT pathway inhibitor for oncology, and Zerenex, a differentiated, iron-based phosphate binder.
Commenting on the transaction, Ron Bentsur, Chief Executive Officer of Keryx Biopharmaceuticals, stated, "We are extremely pleased to have consummated this transaction, raising $20 million for Keryx. We believe that following this offering we will have sufficient capital to complete the Phase 3 programs for Perifosine and Zerenex."
The shares and warrants are being offered by the Company pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission dated September 23, 2009. Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM - News) , acted as the exclusive placement agent for the transaction. Ladenburg Thalmann & Co. Inc. and Brean Murray, Carret & Co., LLC acted as advisors to the transaction.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The shares of common stock may only be offered by means of a prospectus. Copies of the final prospectus supplement and accompanying base prospectus can be obtained from the SEC's website at http://www.sec.gov.
ABOUT KERYX BIOPHARMACEUTICALS, INC. (Nasdaq: KERX - News)
Keryx Biopharmaceuticals is focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of life-threatening diseases, including cancer and renal disease. Keryx is developing KRX-0401 (perifosine), a novel, potentially first-in-class, oral anti-cancer agent that inhibits the phosphoinositide 3-kinase (PI3K)/Akt pathway, a key signaling cascade that has been shown to induce cell growth and cell transformation. KRX-0401 has demonstrated both safety and clinical efficacy in several tumor types, both as a single agent and in combination with novel therapies. KRX-0401 also modulates a number of other key signal transduction pathways, including the JNK and MAPK pathways, which are pathways associated with programmed cell death, cell growth, cell differentiation and cell survival. KRX-0401 is currently in Phase 2 clinical development for multiple tumor types, with a Phase 3 in multiple myeloma, under Special Protocol Assessment (SPA), pending commencement by year-end. Keryx is also developing Zerenex(TM) (ferric citrate), an oral, iron-based compound that has the capacity to bind to phosphate and form non-absorbable complexes. Zerenex has recently completed a Phase 2 clinical program as a treatment for hyperphosphatemia (elevated phosphate levels) in patients with end-stage renal disease, and Keryx is in the process of finalizing the U.S. Phase 3 program for Zerenex in consultation with the FDA. Keryx is headquartered in New York City.
Forward Looking Statement
Some of the statements included in this press release may be forward-looking statements that involve a number of risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Among the factors that could cause our actual results to differ materially are the following: There can be no assurance that the Company will complete cost-effective clinical trials or meet the projected development timelines for the drug candidates in its pipeline, including Zerenex and KRX-0401; that the Company's capital, following this offering, will be sufficient to fund its operations as estimated; or that the Company's stock will not be affected by other risk factors identified from time to time in our reports filed with the Securities and Exchange Commission. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not intend to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. This press release and prior releases are available at http://www.keryx.com. The information in our website is not incorporated by reference into this press release and is included as an inactive textual reference only.
For more information, please contact:
Lauren Fischer
Director, Investor Relations
Keryx Biopharmaceuticals, Inc.
Tel: 212.531.5962
E-mail: lfischer@keryx.com
TBUS = recession-resistant technology company servicing the public transportation industry that just started making money hand over fist while guiding for impressive growth going forward. Trades on the NASDAQ. Earnings last Q were +.09 EPS (+200% YOY) with guidance of +.22 for the 2nd half of 2009 or a +.44 EPS runrate. Seems to be a completely off radar and undiscovered gem.
PE of 15 = $6.60
PE of 20 = $8.80
PE of 25 = $11.00
PE of 30 = $13.20
From last report -- "We expect to see additional orders materialize as the September 2009 federal commitment deadline approaches. Later this year, we plan to discuss the aggregate orders received as a direct result of the U.S. federal stimulus funding"
Insiders loading -- a variety of officers have been loading all year:
http://finance.yahoo.com/q/it?s=TBUS
Last Earnings Report:
http://finance.yahoo.com/news/DRI-Corporation-Posts-bw-3819744400.html?x=0&.v=1
Web Site:
http://www.digrec.com
BEHL NEWS OUT! MERGER! http://finance.yahoo.com/news/BioCentric-Energy-Announces-iw-4255666523.html?x=0&.v=1
RODM -- Investment banker (#1 in PIPE transactions by volume) that's suddenly making massive money hand over fist and growing fast, beautiful balance sheet, annualized earnings last Q = $1.26/share with the next Q no doubt IMO will be much bigger. They have a lot more deal flow this Q so I think earnings could be as high as +.50 EPS for this Q for an annualized PE of just over 2. RODM to $20 very possible IMO
Consider the sudden massive surge in deal flow...
Q1 $58.4 million
Q2 $399.4 million
Q3 Already close to $500 million as of this post (despite Q3 being the seasonally weakest Q)
Q4 Seasonally strongest!!
Website:
http://www.rodmanandrenshaw.com/
Transactions:
http://www.rodmanandrenshaw.com/recenttrans
Keep in mind -- each deal deal/transaction RODM makes = stock symbol is put in the financing PR of that public company and RODM appears on more and more radars. They have been announcing and completing huge deals left and right with public announcements that make tracking their business easy to follow.
RODM 7/8/09 conference call... a few of interesting tidbits:
--Emphasized that current operating cash costs are fixed at $6 million per quarter.
--Emphasized headcount ended Q2 identical to Q1.
--Their "level 3 assets" are warrants in liquid publicly traded companies with a very active market and are "very easy to sell"
--Q3 is normally a seasonally slow period (my comment -- yet it appears the total transaction value is going to nicely break that of Q2's fanastic performance)
--Good number of potential deals out of China in the coming months and quarters.
Dare I say they may smash my original EPS guess of +.50 for an annualized EPS of $2.00???
$20+ coming IMO
PS -- An excellent point I read elsewhere -- with the credit markets still so tight, it makes the demand for PIPE deals all that much stronger. Where normally companies would turn to banks for financing, they are now and will be turning to companies like RODM instead as it's the only game in town available to a lot of them. I think a lot of people are underestimating both the staying power and near term growth potential of RODM -- this isn't just about a backlog of equity financing that was temporarily delayed to this quarter. This is about replacing the debt markets which is suddenly absent for many. See this blog: http://theperfectstock.blogspot.com/
Clay, can you do a chart on ASFX?
WAZUP!
NVEC,...chart strong and not only moving on T/A but more importantly fundamentals,...
strong moves ready to be made.
JMHO,...i sense that there may be a stock split. with only 4.5M in the float and 80% held in strong hands,...well it's obvious if they want more institutional buying that is the way to go,...again JMHO.
NVEC PivotPoints
R4 - 72.09
R3 - 68.48
R2 - 64.87
R1 - 62.95
PP - 61.26
S1 - 59.34
S2 - 57.65
S3 - 54.04
S4 - 50.43
Blockbuster Inc. Announces Proposed Offering of Senior Secured Notes
DALLAS, Sept 14, 2009 /PRNewswire-FirstCall via COMTEX/ -- Blockbuster Inc.,
(BBI)(BBI.B) announced today that it intends to offer up to $340 million
aggregate principal amount of senior secured notes due 2014 (the "Notes") in a
private offering that is exempt from the registration requirements of the
Securities Act of 1933, as amended (the "Securities Act").
The Notes will be senior secured obligations of the Company and will be
guaranteed by the Company's domestic subsidiaries that guarantee the Company's
indebtedness under the credit agreement. The Notes and the guarantees will be
secured by a first-priority lien, having equal priority to liens granted under
the Company's credit agreement on substantially all of the Company's and the
guarantors' assets which secure the loans under the credit agreement. The Notes
will be offered in the United States only to qualified institutional buyers
pursuant to Rule 144A under the Securities Act, and to persons outside the United
States pursuant to Regulation S under the Securities Act.
The Company plans to use the proceeds of the Notes to repay all indebtedness
outstanding under the Company's revolving credit facility and its revolving
asset-based loan facility in Canada, fund fees and expenses of the transaction
and for general corporate purposes. In addition, the Company intends to pursue an
amendment under its credit agreement, whereby the lenders under the term loan
facility that are qualified institutional buyers or persons outside the United
States will be given the option to purchase Notes in exchange for repayment of
their loans under the term loan facility, or to amend and extend the final
maturity of their loans from August 20, 2011, to May 31, 2012, with a revised
loan amortization payment schedule and an increased applicable interest rate
margin. The amendment will also include changes to the financial covenants and
other terms.
The Notes will not be registered under the Securities Act and may not be offered
or sold in the United States absent registration or an applicable exemption from
registration requirements. This press release is neither an offer to sell nor the
solicitation of an offer to buy the Notes or any other securities and shall not
constitute an offer, solicitation or sale in any jurisdiction in which such
offering, solicitation or sale would be unlawful.
Forward Looking Statements
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Specific forward-looking statements can be identified by the fact that
they do not relate strictly to historical or current facts and include, without
limitation, words such as "may," "will," "expects," "believes," "anticipates,"
"plans," "estimates," "projects," "predicts," "targets," "seeks," "could,"
"intends," "foresees" or the negative of such terms or other variations on such
terms or comparable terminology. Similarly, statements in this release that
describe our strategies, initiatives, future actions, plans or goals are
forward-looking. These forward-looking statements are based on management's
current intent, belief and expectations. These statements are not guarantees of
future outcomes and involve risks, uncertainties, assumptions and other factors
that are difficult to predict. Therefore, actual outcomes may vary materially
from what is expressed in or indicated by the forward-looking statements. The
proposed offering is subject to a number of conditions, including the amendment
of our senior credit agreement, and there can be no assurance whether such
offering will be completed on the terms discussed above or at all. The risk
factors set forth under "Item 1A. Risk Factors" in our Annual Reports on Form
10-K and other matters discussed from time to time in our filings with the
Securities and Exchange Commission, including the "Disclosure Regarding
Forward-Looking Information" and "Risk Factors" sections of our Quarterly Reports
on Form 10-Q, among others, could affect future outcomes, causing outcomes
results to differ materially from those expressed in our forward-looking
statements. Accordingly, our investors are cautioned not to place undue reliance
on these forward-looking statements because, while we believe the assumptions on
which the forward-looking statements are based are reasonable, there can be no
assurance that these forward-looking statements will prove to be accurate. We
undertake no obligation to update publicly any forward-looking statement in this
release or in other documents, our website or oral statements for any reason,
even if new information becomes available or other events occur in the future.
SOURCE Blockbuster Inc.
http://www.blockbuster.com
Copyright (C) 2009 PR Newswire. All rights reserved
US Air Force Reserve Awards DecisionPoint Follow on Order Increasing Ongoing
Inventory Tracking Program to $5.4 Million
FOOTHILL RANCH, CA, Sep 11, 2009 (MARKETWIRE via COMTEX) -- DecisionPoint
Systems, Inc. (DNPI) today announced that the United States Air Force has issued
a supplemental order for $623,000 for additional BITS (Barcode Inventory Tracking
System) Kits bringing the value of the ongoing program for tracking "Go To War"
equipment support units to $5.4 million.
Nicholas Toms, DecisionPoint Chief Executive Officer, stated, "We are honored
that DecisionPoint Systems was selected for this project and continues to be a
key supplier to the US Air Force Reserve. Our extensive experience in automating
data collection for warehouse and asset management systems makes us an ideal
partner to help Air Force personnel manage inventory. With the implementation of
the BITS program, all of the equipment has a barcode, which makes replacing items
much more efficient and will save the government money. The idea behind the
program is that no deployed, overseas or homeland unit will be without mission
critical equipment."
The BITS kits, which were custom designed and built using DecisionPoint's
proprietary products, include software and services that leverage current mobile
computing technologies. The system reduces inventory costs and shortages and
enables Air Force personnel to automatically maintain highly accurate "Go To War"
support units.
About DecisionPoint Systems
DecisionPoint Systems, Inc. (DNPI) delivers improved productivity and operational
advantages to its clients by helping them move their business decision points
closer to their customers. They do this by making enterprise software
applications accessible to the front-line worker anytime, anywhere. DecisionPoint
utilizes all the latest wireless, mobility, and RFID technologies. For more
information on DecisionPoint Systems visit http://www.decisionpt.com/news.php.
Under The Private Securities Litigation Reform Act of 1995: Except for historical
information contained herein, the statements in this news release are
forward-looking statements that are made pursuant to the safe harbor provisions
of the Private Securities Act of 1995. Forward-looking statements involve known
and unknown risks and uncertainties, which may cause a company's actual results,
performance and achievement in the future to differ materially from forecasted
results, performance, and achievement. These risks and uncertainties are
described in the Company's periodic filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly release the results
of any revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof, or to reflect the occurrence of
unanticipated events or changes in the Company's plans or expectation.
Contact:
Laurel Moody
Corporate Profile, LLC
Tel: 646-810-0608
SOURCE: DecisionPoint Systems, Inc.
Copyright 2009 Marketwire, Inc., All rights reserved.
I picked up some AYSI on this news! They are going to be putting out some big numbers going forward IMO.
Alloy Steel International Signs Supply Agreement With BHP Billiton
On Tuesday September 8, 2009, 9:30 am EDT
PERTH, AUSTRALIA--(Marketwire - 09/08/09) - Mr. Gene Kostecki, Chairman and CEO of Alloy Steel International (OTC.BB:AYSI - News), today announced that Alloy Steel Australia (Int) Pty Ltd a wholly owned subsidiary of Alloy Steel International Inc. has signed a long term strategic supply agreement with BHP Billiton to supply Arcoplate Wear Resistant Super Alloy Wearplate for iron ore mining operations in Western Australia.
The initial product taken will be for the multi-million dollar expansion of their operations in the Pilbara area of Western Australia. The first product releases issued by BHP have been for value in excess of $5 million in the past 7 weeks. It is anticipated that over the next five years the value of Wearplate could be in excess of $50 million.
Since the announcement in August 2009 of Alloy Steel's successful commissioning, the increased level of interest in the new production mill shown in Arcoplate has been outstanding, according to Mr. Kostecki. Most of the major iron ore miners in Western Australia have enquired about booking production time for their own expansion programs and maintenance programs and are expected to order the full range of Arcoplate thicknesses.
Since commissioning the new Arcoplate mill, it has been working at full capacity satisfying the demand for the new 3/4 inch or 20mm material whilst the other Arcoplate mill has been fully utilized with the ongoing demand for the thinner overlay materials.
As a result of the increased level of interest in Alloy Steel's Arcoplate product by local and international mining companies, the Directors of Alloy Steel are planning for a further two production mills with substantially increased capacity to come on line in early 2010.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1057969
Contact:
Alloy Steel
42 Mercantile Way Malaga 6944
PO Box 3087
Malaga DC 6945 Western Australia
Telephone: 08 9248 3188
Fax: 08 9248 3166
E-mail: Email Contact
Internet: http://www.alloysteel.net
wow! HNU.TO +20% in one day since I posted, UNG only 5%
pure $NATGAS play
gl
RODM -- I repeat with last trade $4.94....
$20.00 coming
Clay, can you do a chart on BEHL following yesterday and todays action after close? Curious how we are lookin after this turn etc.
RODM +17%, printing fresh 52 week highs as I type!!
RODM -- been loading this one since the 3.80s
Investment banker that's making money hand over fist and growing fast, beautiful balance sheet, annualized earnings last Q = $1.26/share for a PE of just over 3. They have a lot more deal flow this Q so I think earnings could be as high as +.50 EPS for this Q for an annualized PE of just over 2. RODM to $20 very possible IMO
DAC Technologies Receives Large Holiday Purchase Orders
Press Release
Source: DAC Technologies Group International, Inc.
On Thursday September 3, 2009, 8:30 am EDT
Companies:DAC Technologies Group International Inc.
LITTLE ROCK, AR--(Marketwire - 09/03/09) - DAC Technologies (OTC.BB:DAAT - News) today announced it has received the largest single purchase order in its 16 year history. The purchase order from Wal-Mart is for the Company's deluxe gun cleaning kit and will ship in October and November of 2009. The purchase order is for a Holiday promotion and is well in excess of seven figures.
David A. Collins, Chairman and CEO, stated, "The Company is very excited about receiving POs of this magnitude and continues to concentrate on its core business of gun cleaning kits and firearm accessories. The Company is experiencing large sales increases in this area and expects the trend to continue. The Company reaffirms its higher guidance of 14 to 16 cents earnings per share and sales of $16 to $18 million."
About DAC:
DAC Technologies Group International, Inc. is an outsource manufacturer of high quality, reasonably priced security safes, gunlocks, gun cleaning kits, sporting goods, household cleaning products and various hardware items. DAC distributes its products through mass merchandisers such as Wal-Mart and Kmart, and sporting goods retailers and distributors such as Cabela's, Acusport, Jerry's, RSR, Maurice, Academy Sports, Sports Authority and others. DAC also provides gunlocks to OEM gun manufacturers such as Glock, SigArms, Savage, Weatherby, as well as others. Also, DAC's products are distributed through catalog companies.
The Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contains statements that are forward-looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company's and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements.
Contact:
For Shareholder Information:1-800-920-0098Email Contact
UBET -- Oversold on news about loss of revenues. Fundamentally bullish? No. Technically? Yeah, soon. It's oversold on new lows -- usually that's the vulture's signal.
Will the company be sound someday? Sure, but people need to spend money :)
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Bullish Fundamentals & Activity
Object of Board: looking for stocks that have solid fundamentals or bullish activity occurring.
Purpose: stocks that are chosen will be featured in my newsletter - http://bullwarriorstocks.com/
Types of Stocks Allowed: anything that trades under the sun - triple 0 stocks, penny stocks, or big boards - the goal is to create a nice selection
Examples of Bullish Characteristics: low floats, company buying back shares, insider buying, new management, impressive news, cash in the bank, etc.
** Important ** - if you bring a stock ticker to the board, please list the bullish fundamentals or activity (insider buying for example) within the same post. Do NOT just drop off the ticker and not say anything else.
This board is not for pumping a stock, just drop off interesting information about it, and if it is selected, it will be in my newsletter - pretty simple
My newsletter already covers bullish chart set-ups, but I want to branch out into the fundamental world too.
So how about it? What's bullish out there in the world of fundamentals???
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