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IRNG at 300% gains ( recent frothy behavior ) and lowering volume though.
DKGR is at 500% recent gains with building volume
ADVC great chart for a subpenny. 300 to 400% recent gains and building volume
HUGE 3 Month Gainers List
SUWN, IMGM, CNCAW, ADGJ, WNWG, BTEM, DVINQ, PTSC, KDSC
Check the 6 month charts on these guys/gals how to find these early....
SUWN, IMGM, CNCAW, ADGJ, WNWG, BTEM, DVINQ, PTSC, KDSC
SUWN is at 7X from January 13 ( falling some now ).
IMGM is at 10X or 1000% from January 3
CNCAW 6X or 600 % from 11/05
ADGJ .01 January 27 and is now at 0.90 that is a 9000% increase. Wholly my head is throbbing... LOL
WNWG 530% increase in the latest rally.
BTEM was at 0.15 in 11/05 and is now @ 5.70 wow that is a 3800 percentage increase. Gotta catch these early.
DVINQ is at 10X from January 30. currently at 0.01 from 0.001
GNOLF 0.2 to 0.7 currently from January 17
PTSC 8X from January 20. to now up 3% to 0.81 from 0.10
FDRA 2.5 X from February 14
NGSY continuing a rally from Feb 15 1.45 to current 2.5.
BTEM 2X from February 21.
JKRI 3X from February 10
TEXC starts its rally Feb 24 0.5 to 0.83 now.
KDSC also in a few week decent rally 0.008 Feb. 15 to 0.02 now.
WNWG 0.6 on January 17 to a current 3 day rally to 3.0.
WNWG the only chart that I didnt check today... go figure...
Nice one, thanks for the heads up...
Disastrous mid day results, recovery by end of the week ? we shall see...
USXP,0.0284,-23.24%,
RSMI,0.1260,-16.00%,
IFLB,0.0430,-6.52%
VRDM,0.0540,-3.57%
STTK,0.2200,-18.52%
GRXI,0.0090,-10.00%
GTREX Capital
The Company has raised a total of $554,000 through the issuance of convertible debentures and common stock since December 2004. This has allowed the Company to sustain operations. The Company will have to raise an additional $600,000 to fully implement the operational plans of its portfolio companies.
During the next 12 months, GTREX plan of operation is to raise approximately $750,000, of which GTREX intends to invest $600,000 in its portfolio company, Global Travel Exchange, Inc. This will allow Global Travel Exchange to have the infrastructure in place to meet all of the immediate needs of its travel clients. The balance of the funds will be used to cover the Company’s overhead
GRXI GTREX Capital Announces Agreement Projected 2006 Revenues Topping $6 Million
GRXI GTREX Capital Announces Agreement Projected 2006 Revenues Topping $6 Million . Discuss GRXI GTREX Capital Announces Agreement Projected 2006 Revenues Topping $6 Million, on Superiorinvestor.net, the Investment Forum. Penny Stocks Forum.
GRXI and American Bulls has a HOLD issue on it.
http://www.americanbulls.com/StockPage.asp?CompanyTicker=GRXI&MarketTicker=OTC&TYP=S
Addition and deletion on same day is retiring shares ? for GRXI ? not sure on that one.
Major insider purchassing of GRXI recently. 2/23/06
http://www.secform4.com/insider/showhistory.php?cik=grxi
Is this a turning point or will that only be when significant news is released ? Stay tuned.
I am detecting a 10 to 10:30 rebound for these plays
JKRI, BNOLF, TEXC are lookers
Gapping and dropping on most all for today. ewwww !!
ADOT WILD day.
Hybrid Technologies Inc. 'OTCBB:HYBT' and Kokam South Korea Jointly Announce Development... [FWDPCYN]
Hybrid Technologies Inc. 'OTCBB:HYBT' and Kokam South Korea Jointly Announce Development of 1000-Mile Range Vehicle Project; Expanded Co-Development of Projects Announced
SEOUL, South Korea & NEW YORK & TOKYO--(Business Wire)--Feb. 27, 2006--
Ultra High Range Vehicle to be Developed Using Advanced Kokam
Battery System, Hybrid Technologies to Open Facility in South Korea
Hybrid Technologies, Inc. (OTCBB:HYBT) www.hybridtechnologies.com,
emerging leaders in the development and marketing of lithium powered
products worldwide and Kokam Ltd. are pleased to jointly announce the
development of an ultra high performance vehicle. The vehicle is
anticipated to reach over 1000 miles on one charge.
Hybrid Technologies executives were in Asia February 23-27, 2006,
to complete negotiations with Kokam South Korea. The meetings with
Kokam Chairman JJ Hong established a stronger working relationship
with Hybrid Technologies as well as several intensive automotive
development projects.
Kokam will be developing an ultra long range system with testing
in America with Kokam American and Hybrid Technologies.
To view a photo from co-venture meetings, go to:
http://www.hybridtechnologies.com/media.php?mediaID=060227
The vehicle will have a (approx) 300 kilowatt hour system based on
Kokam's current technology. This system is 10 times the capacity of
current systems in use today. The developed unit will use 5 units of a
200 Ah 81S1P system, stated Kokam engineers.
Hybrid Technologies, in an effort to expand its global presence as
well as to work more closely with Kokam Ltd., has approved the opening
of an electronic development facility in Seoul, South Korea. The move
is directly in response to a greater than anticipated number of orders
from Government agencies as well as the number of current vehicle
project demands.
Kokam Ltd has long been a leader in high performance lithium
batteries as well as a developer of high capacity lithium cells. Kokam
Chairman, JJ Hong, stated, "Kokam and Hybrid Technologies have been
working successfully to date and we are pleased with the rapid
advancements Hybrid Technologies has made. Clearly our vision is
similar, therefore this expanded joint project will allow for further
and closer collaboration and as well provides automotive platforms for
Kokam to introduce the latest lithium technology."
Hybrid Technologies President, Holly Roseberry, stated, "Our team
has completed negotiations with Kokam Ltd. thus creating a clear and
solid manufacturing relationship with a leading supplier and
developer. Our newest project, an ultra long range vehicle, is a joint
project that will not only create a new line for Hybrid Technologies,
but also change the industry standard in respect to performance and
range. Our move to Asia will allow Hybrid technologies to gather the
best technology in the world; therefore, we feel that we are finally
providing what we believe will be the most advanced hybrid vehicle in
the market.
Hybrid Technologies and Kokam Ltd. have approved a fast track for
the ultra long range vehicle and will be co-developing a system in
South Korea and Mooresville, NC. The Seoul, South Korea, development
facility will be focused on electrical development and battery
management systems, while also serving as a satellite office for
Hybrid's Asian market.
In other Asian news, Hybrid technologies has been featured heavily
in Asian media reaching Japanese media as well as media across the
continent. The Mullen Super GT lithium sports car has been of great
interest to the Asian media.
To view the Mullen press release, go to:
http://www.hybridtechnologies.com/media.php?mediaID=060212
To view the Japanese newspaper article, go to:
http://www.hybridtechnologies.com/media.php?mediaID=060227#jArticle
About Kokam: www.kokam.com
About South Korea Ministry of Foreign Affairs and Trade:
http://www.mofat.go.kr/me/me_a002/me_b004/me02_01.jsp
About Hybrid Technologies: www.hybridtechnologies.com
Forward-Looking Statement
This press release may include 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. These statements are based
on the Company's current expectations as to future events. However,
the forward-looking events and circumstances discussed in this press
release might not occur, and actual results could differ materially
from those anticipated or implied in the forward-looking statements.
Hybrid Technologies, Inc.
Investor Relations, 888-669-1808
fax: 702-926-9508
info@hybridtechnologies.com
www.hybridtechnologies.com
Copyright Business Wire 2006
27Feb06 09:25 GMT
Symbols:
us;HYBT
Source BW Business Wire
Categories:
MST/I/AUT MST/L/EN MST/R/ASI MST/R/CA MST/R/JP MST/R/KR MST/R/NME MST/R/US
MST/R/US/NC MST/R/US/NY TGT/BWB
Wentworth Energy and Petromax Technologies Form Joint Venture to Develop Oil Sands... [FWGGHHB]
Wentworth Energy and Petromax Technologies Form Joint Venture to Develop Oil Sands Using Patented Technology
FORT WORTH, Texas--(Business Wire)--Feb. 28, 2006--
Wentworth Energy, Inc. (OTCBB:WNWG) announced today that
it has signed a joint venture agreement with Petromax Technologies to
develop oil sands projects worldwide using the patented Petromax
hydrocarbon separation technology. The joint venture, known as
Wentworth Oils Sands, Inc., will have exclusive rights to the Petromax
processing technology for oil sands and several other specific
economic applications.
Wentworth Oils Sands Inc. will use Petromax's process to develop
oil sands starting with Wentworth Energy's established leases in
eastern Utah. Wentworth owns approximately 1900 acres of oil sand
leases in the potentially prolific Asphalt Ridge region. Historical
geologic assessment conducted by and reports authored by the United
States Geologic Survey and the United States Department of Mines
indicate that total recoverable oil reserves are estimated between
30,000 to 40,000 barrels per acre.
John Punzo, Chairman and CEO of Wentworth Energy, stated: "We are
extremely pleased to have secured the exclusive rights to use the
Petromax technology for oil sand resource extraction. Under the
leadership of Barry Rosengrant Petromax has assembled one of the most
experienced teams in the industry to bring this technology on stream.
Our plan is to build the first production plant using the Petromax
process over the next several months before making it available to
other oil sands projects worldwide."
Petromax Technologies Founder Barry Rosengrant added, "Not only is
the Petromax process ideally suited for oil sands resource extraction
it does so in an environmentally benign manner. In Utah the state
government has said it will only approve projects meeting strict
environmental criteria. The patented Petromax process is a combination
of water-based chemicals that change the charge of inorganic and
oil-based organic surfaces from neutral or positive into strongly
negative. This clears the way for the easy and clean separation of the
hydrocarbons from the oil sands."
Gord McDougall, President of Wentworth Energy stated, "Petromax's
process also ensures that the development cost-per-barrel will be
significantly below those of other exploitation processes, while
producing a high grade of oil from the oil sands environment.
Traditional oil sands projects can cost billions of dollars, however,
we believe that with Petromax we can build a plant that will produce
oil at a fraction of the infrastructure cost for conventional oil
sands development projects.
"The joint venture will immediately set up a pilot plant to
produce the first generation of the integrated components necessary to
profitably process oil sands. The Petromax technology has numerous
applications in addition to oil sands processing. The joint venture
also has the exclusive rights to market Petromax for use in emulsified
oil sands tailings remediation, and various rights to market the
technology in Canada including use in the stimulation of oil and gas
wells, tank sludge projects and the pipeline transport business,"
added McDougall.
About Petromax Technologies
Petromax is the developer of a proprietary process combining
non-hazardous chemical formulations with shearing technology that
separates oil and other commodities of value from inorganic material
to which it adheres. This process has application to markets for oil
sludge removal, down-hole oil field stimulation, hazardous waste
remediation (e.g., Mature Fine Tailings; MFT), and oil sands
development.
About Wentworth Energy, Inc.
Located in Forth Worth, Texas, Wentworth Energy, Inc. is a
diversified energy company focused on the responsible development of
America's natural resources while providing maximum shareholder value.
Wentworth Energy will apply innovative technologies towards the
discovery and development of a diverse portfolio of high value, low
risk energy projects such as the Company's opportunities in the oil
sands of eastern Utah, the prolific oil and gas fields of the Gulf
Coast, and the East Texas gas play. Wentworth Energy trades under the
ticker symbol WNWG. For more information on the Company visit
www.wentworthenergy.com
This news release contains forward-looking statements that are
subject to certain risks and uncertainties that may cause actual
results to differ materially from those projected on the basis of such
forward-looking statements. Such forward-looking statements are made
based upon management's beliefs, as well as assumptions made by, and
information currently available to, management pursuant to the
"safe-harbor" provisions of the Private Securities Litigation Reform
Act of 1995.
Wentworth Energy, Inc. (OTC Bulletin Board:WNWG)
Crosscheck Capital
Alex Johnston
(480) 614-2088
Fax: (480) 614-2089
info@crosscheckcapital.com
OR
Wentworth Energy, Inc.
Corporate Offices
Toll Free: 1-877-329-8388
Fax: (817) 288-0983
www.wentworthenergy.com
Copyright Business Wire 2006
28Feb06 12:01 GMT
Symbols:
us;WNWG
Source BW Business Wire
Categories:
MST/I/OIL MST/I/OIS MST/L/EN MST/R/CA MST/R/NME MST/R/US MST/R/US/TX
MST/R/US/UT TGT/BWB
Universal Express Signs Letter of Intent to Purchase Oil & Gas Company [FWDZMQQ]
NEW YORK--(Business Wire)--Feb. 27, 2006--
Universal Express Inc. (OTCBB: USXP), signed a Letter of
Intent to purchase a South Florida based fuel and wholesale jobber.
This oil and gas turnkey operation services 144 gas stations and
directly owns 46 of them.
In addition, the Company provides diesel distribution and is
poised to enter the airline fuel industry.
"With combined revenues today in excess of $180 million and
deliveries in excess today of 100,000,000 gallons our strategic
partners from Dubai and Saudi Arabia have advised us to consider this
timely acquisition for balance sheet enhancement, growth and
synergistic interests from its supply source," said Richard Altomare,
CEO and Chairman of Universal Express, Inc.
"From a logistical matching to our more obvious Dubai and Saudi
Arabian investors as well as potential future airline fuel needs, this
acquisition will enhance the flexibility and growth potential of
Universal Express and its growing family of companies," continued Mr.
Altomare.
"Due to confidentiality agreements, full details of this
transaction will be made available after our successful closing,"
concluded Mr. Altomare.
About Universal Express
Universal Express, Inc. is a 22 year old logistics and
transportation conglomerate with multiple developing subsidiaries and
services. For additional information please visit www.usxp.com
Safe Harbor Statement under the Private securities Litigation
Reform Act of 1995: The statements contained herein, which are not
historical, are forward-looking statements that are subject to risks
and uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements including, but
not limited to, certain delays beyond the Company's control with
respect to market acceptance of new technologies, products and
services, delays in testing and evaluation of products and services,
and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission.
Universal Express, Inc.
Mark Falk, 631-588-1644
publicrelations@usxp.com
Copyright Business Wire 2006
27Feb06 15:54 GMT
Symbols:
us;USXP
Source BW Business Wire
Categories:
MST/I/AIF MST/I/ELC MST/I/OIL MST/I/OIS MST/L/EN MST/R/NME MST/R/US
MST/R/US/FL MST/R/US/NY MST/S/MRG TGT/BWB
REUTERS UPDATE 1-US SEC settles with China's NetEase, former execs [FWFFJGD]
(Adds SEC comment, case details)
WASHINGTON, Feb 27 (Reuters) - The U.S. Securities and
Exchange Commission said on Monday that it filed a settled
enforcement action against Chinese Internet company NetEase.com
Inc. <NTES.O> and two former officers over alleged improper
accounting in 2000 and 2001.
The SEC alleged that NetEase "materially overstated its
revenues and understated its net loss by improperly recognizing
revenue." It said the company agreed to settle the action
without admitting or deny wrongdoing.
The SEC said NetEase agreed to refrain from further
misconduct. No penalty was imposed.
"In accepting NetEase's settlement offer, the commission
considered the company's cooperation with the SEC
investigation," the SEC said.
The SEC said it also settled administrative proceedings
against Helen Haiwen He, NetEase's former chief financial
officer, and Geoffrey Jie Wei, NetEase's former chief
accountant and acting CFO.
Both individuals were alleged to have taken part in
NetEase's accounting misconduct. Both settled without admitting
or deny wrongdoing, as well, the SEC said.
NetEase overstated fiscal 2000 revenue by $4.3 million and
understated its net loss in its 2000 report, the SEC alleged.
It also "included inflated financial results in the
registration statement for its June 2000 initial public
offering," the SEC said.
In August 2001, after an internal investigation, NetEase
restated fiscal 2000 results and corrected its results for the
quarter ended March 31, 2001, the agency said.
(c) Reuters 2006. All rights reserved. Republication or redistribution of
Reuters content, including by caching, framing or similar means, is
expressly prohibited without the prior written consent of Reuters. Reuters
and the Reuters sphere logo are registered trademarks and trademarks of
the Reuters group of companies around the world.
27Feb06 18:51 GMT
Symbols:
us;NTES
Source RTRS Reuters News
Categories:
ASIA BUS CN IDS/TEXT IND INTEREST/ABN INTEREST/DNP INTEREST/E INTEREST/PCO
INTEREST/RBN INTEREST/RNP INTEREST/U MAC PKG/OASCOMKT PKG/TDWPS PKG/USCO
PUB US WASH WWW MST/G/EXE MST/G/POL MST/I MST/I/ADV MST/I/CMT MST/I/IDD
MST/I/ISS MST/I/ITC MST/I/MAC MST/I/NET MST/I/PUB MST/I/SVC MST/I/TEL
MST/L/EN MST/R/ASI MST/R/CN MST/R/G7 MST/R/NME MST/R/US TGT/RON
Initial Foldera Signups Exceeding Expectations [FWGJWNB]
HUNTINGTON BEACH, Calif., Feb. 28 /PRNewswire-FirstCall/ -- Foldera(TM),
Inc. (OTC Bulletin Board: FDRA), the only free, open and easy-to-use web-based
Organizer and Messaging/Collaboration service, announced today that it has
received an unexpectedly large initial response to their launch announcement
and request for signups for the beta release of their new application,
Foldera.
"Our signups have greatly exceeded our internal expectations," says CEO
Richard Lusk, referring to the number of people registered for the beta. "We
had hoped for a strong response from early adopters, and had anticipated that
we'd have 200,000 subscribers -- which is our projected break-even point --
inside of six months, with perhaps a million users in the first year, but we
didn't expect anything like this.
"Foldera's initial registrations are dramatically ahead of the company's
internal forecasts," according to Mr. Lusk, who went on to say that, "We first
enabled people to register for our service less than two weeks ago and we
estimate that we have attracted about 400,000 users in this short time based
on the number of registrants and the number of employees they indicated in
their organizations." Mr. Lusk further stated that, "This overwhelming
response is not only exciting in the near-term but is also very encouraging
for the future, considering this response is based almost entirely on word-of-
mouth recommendations and blogging activities, without us committing to any
traditional marketing expenditures.
"To put our signups into perspective, it took Hotmail, one of the most
rapidly adopted services in history, nearly one full year to get one million
registered users, while both Napster and ICQ (which followed Hotmail to
market) required six months to achieve those numbers," according to Mr. Lusk.
While Mr. Lusk cautions that these are expressions of interest and not yet
active users on the system, he goes on to say that, "The incredible response
is sending us a clear message: the pain of endlessly sorting and filing their
emails, struggling to control versions of documents and generally maintaining
order amongst all their folders is a very big and very real problem and that
the market is clamoring for a simple solution like Foldera to solve their
problems."
Among the registrants are employees of hundreds of corporations listed
among the Global 1000 as well as the Fortune 500. Numerous notable
educational entities, including a number of people from esteemed higher
learning institutions, have also registered, along with thousands of business
users and individuals from all walks of life and from nearly every point on
the globe.
"We are particularly gratified to see how well our launch strategy is
playing out," says Oliver Starr, Foldera's Chief Mobility Officer and
Corporate Blogger. "We took a calculated risk by going out to the blogosphere
first and letting them run with the story. Many people, including some of our
top investors, thought we were crazy, but Richard had faith in the strategy
and my close connection to the blogging community gave me confidence that we
were on track. Looking back, I don't see how this could be going any better."
About Foldera(TM), Inc.
Foldera(TM) is the free, secure and easy-to-use service that instantly
organizes workflow. Foldera combines web-based email, instant messaging, a
document manager, a task manager, a calendar, a contact manager and sharable
folders into a unified productivity suite, available with a single login from
any web browser. Foldera also has the unique ability to instantly sort and
file your sent and incoming email, instant message dialogs, documents, tasks,
and events into folders, on a project-by-project basis, chronologically and in
real-time.
Foldera's proprietary technology differs from competing collaboration
products in a number of important ways:
* Easier and faster to set-up and use
* Organizes activities, teams, and information automatically
* Enables participants to communicate specifically in the context of each
project and activity
* Archives everything instantly
* Notifies all participants of changes automatically and at the same time
* Secures critical information instantly
* Accessible remotely from a single centralized location on the Web
* Enables participants to manage multiple projects, teams and information
from one interface
* No hardware or software to buy or maintain
* Free to users
Foldera expects to generate revenues from the sale of premium services
such as extra data storage and from embedded search and contextual
advertising. Founded in 2001, Foldera is a publicly traded company
(OTC Bulletin Board: FDRA), headquartered in Huntington Beach, California.
For more information or to sign up for service, visit http://www.foldera.com.
This press release includes a number of forward-looking statements that
reflect our management's current views with respect to future events and
financial performance. Forward-looking statements include, but are not
limited to, statements that are not historical facts, and statements including
forms of the words "intend," "believe," "will," "may," "could," "expect,"
"anticipate," "plan," "possible," and similar terms. Actual results could
differ materially from the results implied by the forward looking statements
due to a variety of factors, many of which are discussed throughout our SEC
filings. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date hereof. We undertake no
obligation to publicly release any revisions to these forward-looking
statements that may reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events, unless required by law.
Factors that could cause actual results to differ materially from those
expressed in any forward-looking statement made by us include, but are not
limited to:
* our ability to finance our activities and maintain our financial
liquidity;
* unexpected resistance to the adoption of our product offering;
* changes in consumer preferences or trends;
* competitive offerings; and,
* our ability to develop a strong brand identity.
Contact:
Bethany Tomich
Investor Relations Consultant
Equity Performance Group
W: 617-723-1465
C: 860-685-1258
bethany@equityperfgp.com
SOURCE Foldera, Inc.
Bethany Tomich, Investor Relations Consultant of Equity Performance Group,
+1-617-723-1465, bethany@equityperfgp.com
28Feb06 13:31 GMT
Symbols:
us;FDRA
Source PRN PR Newswire
Categories:
NWI/CPR MST/I/CPM MST/L/EN MST/R/US/CA TGT/PRX
Southwestern Energy Company Invites You to Join Its Fourth Quarter and Year End 2005... [FVXKLCW]
Southwestern Energy Company Invites You to Join Its Fourth Quarter and Year
End 2005 Earnings Conference Call on the Web
HOUSTON, Feb. 22 /PRNewswire-FirstCall/ -- In conjunction with
Southwestern Energy Company's (NYSE: SWN) 2005 Fourth Quarter and Year End
earnings release, you are invited to listen to its conference call that will
be broadcast live over the Internet on Wednesday, March 1, 2006 at 9:00 a.m.
CT (10:00 a.m. ET) with Harold M. Korell, President and Chief Executive
Officer of Southwestern Energy Company.
What: Southwestern Energy Company's 2005 Fourth Quarter and Year
End Earnings Release
When: 9:00 a.m. CT, March 1, 2006
Where: http://phx.corporate-ir.net/phoenix.zhtml?p=irol-
eventDetails&c=93246&eventID=1200369 (You will need to copy and paste into
your browser) or you can call 1-888-208-1812, reservation
number 4886738.
How: Live over the Internet -- Simply log on to the web at the
address above or go to the Company's Web site:
http://www.swn.com .
Contact: Brad Sylvester at (281) 618-4897
Southwestern Energy Company is an integrated natural gas company whose
wholly-owned subsidiaries are engaged in oil and natural gas exploration and
production, natural gas gathering, transmission and marketing, and natural gas
distribution. Additional information on the Company can be found on the
Internet at http://www.swn.com .
If you are unable to participate during the live webcast, the call will be
archived on the Company's Web site http://www.swn.com . To access the replay,
look under "Latest News & Information."
(Minimum Requirements to listen to broadcast: The RealPlayer software,
downloadable free from http://www.real.com/products/player/index.html , and at
least a 14.4Kbps connection to the Internet. If you experience problems
listening to the broadcast, send an email to webmaster@vdat.com .)
SOURCE Southwestern Energy Company
Brad Sylvester of Southwestern Energy Company, +1-281-618-4897
22Feb06 14:00 GMT
Symbols:
ud;SWN us;SWN
Source PRN PR Newswire
Categories:
NWI/OIL NWS/CCA NWS/MAV MST/I/OIL MST/I/OIS MST/L/EN MST/R/US/TX TGT/PRX
JoS. A. Bank Clothiers Reports 28.9% Increase in January Sales; Comparable Store... [FTTWFNZ]
JoS. A. Bank Clothiers Reports 28.9% Increase in January Sales; Comparable Store Sales Gain 20.4%; Company Raises Earnings Guidance Again
HAMPSTEAD, Md.--(Business Wire)--Feb. 2, 2006--
JoS. A. Bank Clothiers, Inc. (Nasdaq National Market:
"JOSB") today reported that its total net sales for the fiscal month
ended January 28, 2006 (fiscal January 2005) increased 28.9% to $30.8
million, compared with $23.9 million in fiscal January 2004.
Comparable store sales increased 20.4% and combined catalog and
internet sales decreased 2.5% in fiscal January 2005, when compared
with the same prior-year period. While sales increased in all major
merchandise categories during January, continued strength has been
noted in blazers, sportcoats, sportswear and other key items in which
the Company has invested in recent months.
The Company also noted that it expects earnings per share for the
fiscal year ended January 28, 2006 (fiscal year 2005) to be at least
$2.39, representing at least a 39% increase when compared with
earnings per share of $1.72 in fiscal year 2004. The Company also
noted that its financing remains strong and there are currently no
outstanding borrowings under its $100 million credit agreement.
The Company also reported record sales for the fourth quarter and
full fiscal year. Total sales for the fourth quarter of fiscal year
2005 increased 28.1% to $163.8 million, compared with sales of $127.9
million in the prior year period. Total sales for fiscal year 2005
increased 24.7% to $464.6 million, compared with sales of $372.5
million in the previous fiscal year.
Comparable store sales rose 15.9% and 10.6% in the fourth quarter
and fiscal year 2005, respectively. Combined catalog and internet
sales increased 18.9% and 21.7% in the fourth quarter and fiscal year
2005, respectively.
The Company will report its fourth quarter and fiscal year 2005
earnings on April 3, 2006. A conference call to discuss the earnings
press release will be held on Monday, April 3, 2006 at 11:00 a.m.
Eastern Time (ET). To participate in the call on April 3, 2006 please
dial (USA) 877-209-0397 or (International) 612-332-0530 at least five
minutes before 11:00 a.m. ET. A replay of the conference call will be
available until April 10, 2006 at 11:59 p.m. ET by dialing (USA)
800-475-6701 or (International) 320-365-3844. The access code for the
replay will be 817615.
All earnings per share amounts in this news release represent
diluted earnings per share adjusted for two stock dividends that were
distributed to stockholders in fiscal year 2004. The earnings per
share amounts have not been adjusted for the stock dividend that the
Company announced on December 14, 2005, under which shareholders of
record as of January 27, 2006 will receive one additional share of
common stock for each four shares then owned. The dividend shares will
be distributed to shareholders on February 15, 2006. The fiscal year
2004 earnings per share amounts included in this news release give
effect to the restatement of the Company's financial statements to
reflect the revision of the Company's historical practices of
accounting for lease transactions as discussed in the Company's Annual
Report on Form 10-K for the fiscal year ended January 29, 2005.
About JoS. A. Bank Clothiers, Inc.
JoS. A. Bank Clothiers, Inc., established in 1905, is one of the
nation's leading retailers of men's classically-styled tailored and
casual clothing, sportswear, footwear and accessories. The Company
sells its full product line through 324 stores in 40 states and the
District of Columbia, a nationwide catalog, and an e-commerce website
that can be accessed at www.josbank.com. The Company is headquartered
in Hampstead, MD, and its common stock is listed on the NASDAQ
National Market under the symbol "JOSB."
The Company's statements concerning future operations contained
herein are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Actual results may
differ materially from those forecast due to a variety of factors
outside of the Company's control that can affect the Company's
operating results, liquidity and financial condition. Such factors
include risks associated with economic, weather, public health and
other factors affecting consumer spending, the ability of the Company
to finance its expansion plans, the mix and pricing of goods sold, the
market price of key raw materials such as wool and cotton,
availability of lease sites for new stores, the ability to source
product from its global supplier base and other competitive factors.
Other factors and risks that may affect our business or future
financial results are detailed in our filings with the Securities and
Exchange Commission, including the Company's Annual Report on Form
10-K for the year ended January 29, 2005. These cautionary statements
qualify all of the forward-looking statements the Company makes
herein. The Company cannot assure you that the results or developments
anticipated by the Company will be realized or, even if substantially
realized, that those results or developments will result in the
expected consequences for the Company or affect the Company, its
business or its operations in the way the Company expects. The Company
cautions you not to place undue reliance on these forward-looking
statements, which speak only as of their respective dates, and assumes
no obligation to update any of the forward-looking statements. These
risks should be carefully reviewed before making any investment
decision.
JoS. A. Bank Clothiers, Inc., Hampstead, MD
David E. Ullman, EVP/CFO, 410-239-5715
or
RJ Falkner and Company, Inc.
Investor Relations Counsel
R. Jerry Falkner, CFA
800-377-9893
info@rjfalkner.com
E-commerce Address for JoS. A. Bank Clothiers, Inc.:
www.josbank.com
Copyright Business Wire 2006
02Feb06 10:00 GMT
Symbols:
de;JC1 us;JOSB
Source BW Business Wire
Categories:
MST/I/BNK MST/I/RTB MST/I/SAP MST/L/EN MST/R/NME MST/R/US MST/R/US/MD
MST/S/ERN TGT/BWB