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That 500 buy at .01 doing wonders for my portfolio....Aggie...
Naw, now Texas is going Independant. We have plenty of Oil for our needs...Grow our own food...Raise our own cattle...Plenty of industry...Seaports...Aggie...
In AMD 1K @ 2.26.....
For the rest of my fellow bagholders of INVC...up 60% today to .10 ....Aggie...
Out DXO @ 2.40 from 1.85 entry on 02/18/2009...Aggie...
LZR wow...From 4.65 close yesterday to 6.67 HOD today on earning news.....
Emergent Group Inc. Reports Record Fourth Quarter Revenue and Net Income
8:00a ET March 4, 2009 (GlobeNewswire)
Emergent Group Inc. (NYSE Alternext US:LZR), a leading provider of mobile medical lasers and surgical equipment, today announced significant increases in fourth quarter and fiscal 2008 sales and net income as the Company continued to pursue its growth strategies.
Included in Emergent Group's reported results for the fourth quarter and fiscal year ended December 31, 2008 was the recognition of deferred tax benefits (the "tax benefits") that increased net income by $1.3 million for each period. For the comparable prior year periods, the recognition of deferred tax benefits was $10,088.
Following are highlights of the fourth quarter 2008 results:
* Revenue set another record, increasing 56% to $7.0 million versus $4.5 million in the fourth quarter ended December 31, 2007. * Income from operations rose 69% to $1.2 million from $716,000 in the prior year period. * Net income, including the above-mentioned tax benefits, was $2.3 million compared to $460,000 in the prior year period, while net income per diluted share, including the tax benefits, was $0.33 versus $0.08, respectively. * Net income, adjusted to exclude the 2008 tax benefits, was a record $927,540, representing a 106% increase versus the prior year period, while net income per diluted share, excluding the 2008 tax benefits, was $0.14, a 75% increase versus the fourth quarter of fiscal 2007. (See supplemental information for a reconciliation of net income as reported versus net income as adjusted to exclude the 2008 tax benefits.) * Diluted weighted-average shares outstanding were 6.8 million versus 5.8 million in the fourth quarter of 2007.
"Emergent Group achieved record fourth quarter and fiscal year 2008 results as our company continued to pursue strategies for growth and expansion," said Chairman and CEO Bruce J. Haber. "We've reported strong performance despite a challenging national economic environment and believe there are additional opportunities to enhance our competitive position in the growing medical technology field. Some of these opportunities are expected to come from our August 2008 acquisition and subsequent integration of the Surgical Services Division of PhotoMedex, Inc." This is the first full quarter that includes results generated by the acquisition.
"Our ongoing strong cash flow is providing us with a solid foundation for future growth and giving us the opportunity to address shareholder value, as evidenced by our Board's fourth quarter declaration of a $0.30-per-share annual dividend," he added. "We're pleased to note that Emergent Group has paid cumulative annual dividends of $0.90 per share over the past four fiscal years.
"As we look back on a record year," Haber said, "our company remains focused on these growth strategies:
* Expanding per-procedure rentals of existing medical equipment and sales of accompanying disposable items in markets covering 16 states. * Capitalizing on a growing number of medical procedures and upcoming limits on physician ownership of equipment. * Identifying and offering new, cost-effective medical technologies to hospitals and physician groups with the aid of company-trained technicians. * Pursuing future acquisitions that expand Emergent's sales and geographic footprint."
Beyond these strategies, Haber noted that the company may also benefit as some hospitals take greater advantage of equipment rental opportunities to curb their capital expenditures in the challenging economic climate.
Emergent Group reported the following results for the fiscal year ended December 31, 2008:
* Revenue increased 29% to a record $22.8 million versus $17.7 million for the fiscal year ended December 31, 2007. * Income from operations rose 50% to $4.2 million from $2.8 million in the prior year period. * Net income, including the above-mentioned tax benefits, was $4.1 million versus $1.8 million in the prior year period, while net income per diluted share, including the tax benefits, was $0.65 versus $0.31, respectively. * Net income, adjusted to exclude the 2008 tax benefits, was a record $2.8 million, representing a 60% increase versus the prior year period, while net income per diluted share, excluding the 2008 tax benefits, was $0.44, or a 47% increase compared to fiscal 2007. (See supplemental information for a reconciliation of net income as reported versus net income as adjusted to exclude the 2008 tax benefits.) * Diluted weighted-average shares outstanding were 6.4 million versus 5.8 million for the fiscal year 2007.
During the quarter, the company also launched a new corporate website - www.emergentgroupinc.com - with an extensive company profile, Emergent Group's latest investor presentation and information covering growth strategies, leadership and governance, financial performance, SEC filings and company news.
About Emergent Group Inc.
Emergent Group Inc., through its wholly owned subsidiary, PRI Medical Technologies, Inc. ("PRI Medical"), provides mobile medical laser and surgical equipment in 16 states on a per-procedure basis to hospitals, outpatient surgery centers and physicians' offices. Surgical equipment is provided to customers along with technical support personnel to ensure that such equipment is operating correctly. PRI Medical currently offers its services in five states in the western United States and 11 states along the eastern seaboard. For product and other information, visit Emergent Group's website, www.emergentgroupinc.com.
Forward-Looking Statements
Statements in this news release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934. Such statements may involve various risks and uncertainties, some of which may be discussed in the Company's most recent report on 2007 Form 10-KSB and subsequently filed SEC reports. There is no assurance any forward-looking statements will prove accurate, as actual results and future events could differ materially from those presently anticipated.
Emergent Group Inc. and Subsidiaries Consolidated Balance Sheets December 31, ------------------------ 2008 2007 ----------- ----------- ASSETS Current assets Cash $ 4,586,107 $ 3,043,654 Accounts receivable, net of allowance for doubtful accounts of $58,984 and $17,460 3,759,834 2,313,084 Inventory, net 837,143 504,792 Prepaid expenses 231,763 164,857 Deferred income taxes 986,000 915,488 ----------- ----------- Total current assets 10,400,847 6,941,875 Property and equipment, net of accumulated depreciation and amortization of $7,247,482 and $5,954,233 6,070,228 4,142,230 Goodwill 1,120,058 1,120,058 Deferred income taxes 1,261,000 -- Other intangible assets, net of accumulated amortization of $226,997 and $172,355 403,152 93,930 Deposits and other assets 84,934 104,758 ----------- ----------- Total assets $19,340,219 $12,402,851 =========== =========== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Current portion of capital lease obligations $ 1,909,057 $ 1,143,198 Current portion of notes payable -- 100,888 Dividends payable 1,989,750 1,686,095 Accounts payable 1,538,797 709,027 Accrued expenses and other liabilities 1,997,312 1,559,046 ----------- ----------- Total current liabilities 7,434,916 5,198,254 Capital lease obligations, net of current portion 3,344,820 2,341,710 ----------- ----------- Total liabilities 10,779,736 7,539,964 Minority interests 696,430 592,807 Shareholders' equity Preferred stock, $0.001 par value, non-voting 10,000,000 shares authorized, no shares issued and outstanding -- -- Common stock, $0.04 par value, 100,000,000 shares authorized 6,631,576 and 5,619,392 shares issued and outstanding 265,260 224,772 Additional paid-in capital 16,235,369 14,836,263 Accumulated deficit (8,636,576) (10,790,955) ----------- ----------- Total shareholders' equity 7,864,053 4,270,080 ----------- ----------- Total liabilities and shareholders' equity $19,340,219 $12,402,851 =========== =========== EMERGENT GROUP INC. Consolidated Statements of Income Year Ended Three Months Ended December 31, December 31, ------------------------ ------------------------ 2008 2007 2008 2007 ------------------------ ------------------------ Revenue $22,785,922 $17,661,541 $ 6,985,110 $ 4,480,234 Cost of goods sold 13,354,071 10,473,805 4,286,307 2,597,191 ------------------------ ------------------------ Gross profit 9,431,851 7,187,736 2,698,803 1,883,043 Selling, general, and administrative expenses 5,241,682 4,390,996 1,488,129 1,166,624 ------------------------ ------------------------ Income from operations 4,190,169 2,796,740 1,210,674 716,419 Other income (expense) (190,916) (152,104) (47,339) (31,112) ------------------------ ------------------------ Income before provision for income taxes, deferred tax benefit, and minority interest 3,999,253 2,644,636 1,163,335 685,307 Provision for income taxes (225,641) (193,922) (12,169) (59,424) Deferred tax benefits 1,331,512 10,088 1,331,512 10,088 ----------- ----------- ----------- ----------- Net income before minority interest 5,105,124 2,460,802 2,482,678 635,971 Minority interest in income of consolidated limited liability companies (960,994) (692,209) (223,626) (176,143) ----------- ----------- ----------- ----------- Net income $ 4,144,130 $ 1,768,593 $ 2,259,052 $ 459,828 =========== =========== =========== =========== Basic earnings per share $ 0.69 $ 0.32 $ 0.35 $ 0.08 Diluted earnings per share $ 0.65 $ 0.31 $ 0.33 $ 0.08 Basic weighted- average shares outstanding 6,003,420 5,533,348 6,444,690 5,575,338 Diluted weighted- average shares outstanding 6,385,629 5,798,015 6,840,311 5,837,809
Supplemental Information -- Reconciliation of Net Income as Reported to Net Income Excluding the Recognition of Deferred tax benefits:
Year Ended Three Months Ended December 31, December 31, ------------------------ ------------------------ 2008 2007 2008 2007 Net income as reported $ 4,144,130 $ 1,768,593 $ 2,259,052 $ 459,828 Less: Recognition of deferred tax benefits (1,331,512) (10,088) (1,331,512) (10,088) ------------------------ ------------------------ Net income excluding recognition of deferred tax benefits $ 2,812,618 $ 1,758,505 $ 927,540 $ 449,740 ======================== ======================== Net income per share as reported - basic $ 0.69 $ 0.32 $ 0.35 $ 0.08 Net income per share as reported - diluted $ 0.65 $ 0.31 $ 0.33 $ 0.08 Net income per share excluding deferred tax benefits - basic $ 0.47 $ 0.32 $ 0.14 $ 0.08 Net income per share excluding deferred tax benefits - diluted $ 0.44 $ 0.30 $ 0.14 $ 0.08 Basic weighted- average shares outstanding 6,003,420 5,533,348 6,444,690 5,575,338 Diluted weighted- average shares outstanding 6,385,629 5,798,015 6,840,311 5,837,809
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Emergent Group Inc.
Emergent Group Inc. Bruce J. Haber (914) 235-5550, x. 12 bhaber@primedical.net
LZR up huge today!!!!! Wish I had pulled the trigger yesterday at 4.75ish.....Aggie....
Uggg!!! Stopped out of FAS at 3.60...
PLD in 5.00 out 5.50...Thanks Chart....
Executed 03/03/09 Sell 1,000.000 1,000.000 PLD Limit $5.5000 $5.5000 Day
Executed 03/03/09 Buy 1,000.000 1,000.000 PLD Limit $5.0000 $5.0000 Day
In PLD 1K @ 5.00
I personally blame it all on OBAMONOMICS...Between CENX and SRZ today Ive lost my Jan and Feb gains...But, with SRZ, learned not to hold a bunch of crap...Aggie...
LOL....You are starting to sound more and more like my wife. You wouldnt be a female, 5', redhead, with a nasty temper would you. She, like you, rants unceasingly over things that out of our control.
My suggestion for you would be to atart a new board named OBAMANOMICS (since you are so infatuated with that moniker). Then you could piss and moan all day long...
Just my opinion...Aggie....
Picked up another 1k @ 2.25... Now have 2K @ 2.26 avg... Go WU... Aggie....
SONS really looking good today Sheff....I wished I could have pulled the trigger at 1.13...GLTU...Aggie..
I have to raise my hand also...
Sold ACLS into strength @ .40 from .22 avg...WU rocks!!!! Aggie..
ACLS News!!!!!
Axcelis Technologies in Agreement to Sell Its Interest in Joint Venture SEN Corporation to Sumitomo Heavy Industries
Thursday February 26, 8:00 am ET
Axcelis to Use Proceeds to Meet Its Obligations Under Its 4.25% Convertible Senior Secured Subordinated Notes and Fund Operations
BEVERLY, Mass., Feb. 26, 2009 (GLOBE NEWSWIRE) -- Axcelis Technologies, Inc. (NasdaqGS:ACLS - News) today announced that it has entered into a Share Purchase Agreement in which Sumitomo Heavy Industries, Ltd. (``SHI') will purchase Axcelis' 50% interest in their joint venture, SEN Corporation, an SHI and Axcelis Company, (``SEN'), for Y13 billion, or approximately $133 million, in cash at current conversion rates. Axcelis and SHI each currently own 50% of SEN, a Japanese company that is licensed by Axcelis to manufacture and sell certain implant products in Japan.
ADVERTISEMENT
It is anticipated that the transaction between Axcelis and SHI will be completed on March 31, 2009. Axcelis will use a portion of the proceeds from the sale of its SEN interests to meet its obligations under its 4.25% Convertible Senior Secured Subordinated Notes, which were due in January. Pending the closing, the trustee for the notes has agreed to stand down on litigation filed in connection with Axcelis' default on the notes.
Mary Puma, Chairman and CEO of Axcelis, said: ``This transaction serves the best interests of Axcelis shareholders as it enables us to fulfill our senior debt obligations and gives us greater financial flexibility during this difficult economic climate and semiconductor industry downturn. Axcelis will continue to fully focus its efforts on tight cash and cost controls and on developing and selling innovative products like our Optima implanters and Integra dry strip tools, both of which have received strong customer reviews. With these products, Axcelis believes that we can compete and gain market share once demand for semiconductor equipment returns.'
As part of the transaction, at the closing Axcelis and SEN will enter into cross licenses that will allow the two companies to continue to use certain patents and technical information owned by the other to make and sell ion implant systems on a worldwide, royalty-free, perpetual basis. Axcelis' license to SEN would not include patents, licenses, or technical information developed by Axcelis for the Optima HD, Optima XE, or any non-implant products. The transaction will terminate all existing agreements among Axcelis, SHI and SEN relating to the SEN joint venture.
More information can be found in the Form 8-K that Axcelis will file with the Securities and Exchange Commission at http://www.sec.gov.
About Axcelis Technologies, Inc.
Axcelis Technologies, Inc., headquartered in Beverly, Massachusetts, provides innovative, high-productivity solutions for the semiconductor industry. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation and cleaning systems. The company's Internet address is: http://www.axcelis.com.
$heff - Your take on LZR @ $5.45...Skuttlebutt on other boards say they will beat the socks off the earning estimate next week...May have a mini run into earnings...Aggie....
Yeah...Except now were printing 4.65....LOL...
I am sure you are right...I cant watch the market 24/7 and I battle daily my own worse enemy...myself, holding for more, then end up holding a bag of crap...Made a couple hundred and preserved my capital to place another bet in the future...Aggie...
Out BAC @ 4.50 from 4.28 entry
In for 1K @ 2.24....Aggie....
I would like to throw out a stock for all the professors comments. DRAM currently selling at 1.24. Price has held up the last week while the overall market has been in free fall. No long term debt. 17.64M cash / 8.87M shares = 1.9888 cash per share. Not an expert at reading a balance sheet, but looks OK to me. http://finance.aol.com/financials/dataram-corporation/dram/nas/balance-sheet.
Not pumping this stock, just trying to learn. Any input from the board would be most helpful....Aggie...
In for 1K @ 4.26
Im here also. Still hold 100K @ .003 No interest in this stock. No volume. No hype. Dead money at the moment.
Picked up 1M yesterday @.0002.... Lotto pick.... Aggie....
Anyone like DXO under $2.00?????? Aggie
SRZ closed up .04 @ .84 on a very down day. Those .68's I bought last week to average down are tasting sweet. May want to put on radar for tomorrow to see if the bucking the market trend continues....Aggie...
Muchos Gracias sir!!!!!!
Not my board so I am way out of line here, but can we PLEASE keep the political commentary off this board. There are boards on IHUB you can bitch about politics til your hearts content. Lets please keep the focus on stocks as this is Wealth University...My opinion only...TIA...Aggie............
Chart - CENX still holding CENX in your WU portfolio?
Prof Chart...What is your target for APPY? Want to set a GTC sell as I will be away from my computer more of the week....TIA...Aggie...
Out TGB @ .93 from .83 entry today.
Currently holding: BWHI CENX (up big). UCBH (even). GKK CYCC XRM XTXI and APPY (Down). XTXI UCBH XRM up big for the day (+11% to +13%). GKK and CYCC up a bit for day. APPY my only down stock today ...I even got to witness a drive by ...Another great week at Wealth University ...Great weekend to all, especially all the profs who make success happen ....Aggie...
Amen brother Chartinator....
UCBH now 2.64 +.31 +13.30% Now I am green and may actually make a bit....GO WU....Aggie...
I am two ticks from green at this point. Already in CENX and APPY....Thanks...Aggie...
UCHB now 2.57 +.24 +10.30%
UCHB now 2.54 +.21 + 9.01%
UCHB doing nicely today. Back to 2.51 +.18 +7.73%....Aggie...
I have still not had my shares from the forward split credited to my Ameritrade account. Quick Survey. Who has their shares adn who do they use???? Ameritrade blows......Aggie.....