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IEAM - Another open market purchase from the CEO, John Mazzuto, this time 150,000 shares at $5.33. He has now purchased 457,500 shares, all in the open market. Very bullish!
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001166944%252D07...
Another open market purchase from the CEO, John Mazzuto, this time 150,000 shares at $5.33. He has now purchased 457,500 shares in the open market. Very bullish.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001166944%252D07...
Industrial Enterprises of America Announces New CFO
Monday March 19, 8:00 am ET
NEW YORK--(BUSINESS WIRE)--Industrial Enterprises of America, Inc. (OTC BB:IEAM.OB - News), a specialty automotive aftermarket supplier, is pleased to announce that, effective immediately, Dennis O'Neill has joined the company as Chief Financial Officer.
Mr. O'Neill has over thirty years of financial and operational experience, beginning his career in public accounting with Wiss & Company and then with Laventhol and Horwath. Dennis has been an independent consultant since 1995, during which time he has, among other accomplishments, led the reorganization and recapitalization of a $350 million auto parts manufacturer and assisted in the successful turnaround and sale of a $600 million steel service center. Prior to this, Mr. O'Neill spent six years with J.B. Poindexter & Company, where he played a leading role in restructuring Leer Manufacturing, Inc., an automotive aftermarket products company, and Morgan Corporation.
"Dennis brings a wealth of accounting and financial expertise to Industrial Enterprises," commented John Mazzuto, Chief Executive Officer. "His years of experience in leveraged buyouts, corporate restructuring, and financial planning will be invaluable as our company rapidly expands over the coming years. In addition, he has the accounting skills crucial to improving the company's SEC filings to ensure our financials are reported in a timely, thorough manner. His industrial background and experience in the auto parts arena also positions him as the optimal candidate for this high-level position."
Mr. O'Neill has a CPA and received his Bachelors Degree in Accounting from St. Peter's College.
About Industrial Enterprises of America
Industrial Enterprises of America, Inc., headquartered in New York, NY, is an automotive aftermarket supplier that specializes in the sale of anti-freeze, auto fluids, charcoal fluids, and other additives and chemicals. The company has distinct proprietary brands that collectively serve the retail, professional and discount automotive aftermarket channels.
Wow. 698K shares traded. Not much movement. Up 2%
OPBL news sounds good
Optionable Announces Growth Initiatives
Thursday March 15, 4:05 pm ET
New Clients on OPEX(R)
VALHALLA, N.Y., March 15 /PRNewswire-FirstCall/ -- Optionable Inc (OTC Bulletin Board: OPBL - News), a leading provider of natural gas and other energy derivatives brokerage services, announced today that it has purchased two NYMEX trading rights, also called membership seats, for approximately $1.2 million through one of its subsidiaries, OPEX International, Inc. Optionable Chief Executive Officer Kevin Cassidy also noted that the Company has signed several new clients, is exploring strategic floor brokerage relationships as well as market maker incentive programs for market making firms in the energy sector.
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"The purchase of these trading rights is part of an overall strategy to expand our NYMEX floor operations as well as expand our product line both on the exchange and OTC," Cassidy said. "We believe this is a wise decision at this point because the cost savings over leasing the trading right will be substantial. Also, and very importantly, we will no longer be subject to increasing lease rate changes."
The Company also said that it has signed participation agreements with 30 new users for its OPEX® trading platform since the beginning of the year, all with blue-chip clients, and that requests for the use of the software are increasing. OTC-cleared trades that are executed are cleared through the award-winning NYMEX Clearport®.
Cassidy said the strategic relationships the Company is exploring are with other OTC and floor brokerage companies.
Cassidy commented, "We will evaluate possible relationships with other OTC and floor brokers and determine what forms of strategic alliances make sense going forward. We would also evaluate and consider possible acquisition targets if they were the right fit for our growth strategy."
On the issue of market maker incentive programs, Cassidy added, "The Company and its management has not directly, or indirectly, provided compensation to its clients or their employees in the past but it will implement market maker strategies and programs which have been successful for other industry electronic platforms and exchanges. When properly and ethically administered, these programs can fuel a company's growth."
AVA.V getting whacked today.
ACADIAN GOLD ANNOUNCES BOUGHT DEAL $16 MILLION PRIVATE PLACEMENT WITH NORTHERN SECURITIES INC.
Halifax, Nova Scotia CANADA, March 14, 2007 /FSC/ - Acadian Gold Corporation (ADA - TSX Venture), is pleased to announce that it has entered into an agreement ("Agreement") with Northern Securities Inc. ("Northern") in which Northern has agreed to act as lead underwriter on behalf of a syndicate of underwriters, on a bought deal basis, subject to certain conditions, in a private placement of 15,250,000 equity units ("Units") at a price of $1.05 per Unit resulting in gross proceeds of $16,012,500 to Acadian Gold, prior to consideration of the Over-Allotment Option described below. Each Unit will consist of one common share of Acadian Gold ("Common Share") and one-half of one common share purchase warrant ("Warrant"). One whole Warrant will entitle the holder to subscribe for one Common Share at $1.35 at any time until the date that is eighteen months from closing.
The net proceeds of the Offering will be used to advance Acadian Gold's zinc-lead mine (the "Scotia Mine") into production and for general corporate purposes.
The Agreement and the Offering are subject to receipt of all necessary approvals, including regulatory and stock exchange approvals. The closing is expected to occur on or about March 30, 2007 ("Closing").
This private placement replaces the previously announced proposed debt financing to put the Scotia Mine into production. "After careful consideration of a variety of offers from potential lenders, the company has concluded that the proposed equity financing is the most attractive option for the company to bring the Scotia Mine into production," said Will Felderhof, President and CEO of Acadian Gold. "The various debt financing proposals considered over the past several months included a variety of terms and hidden costs which Acadian Gold considered overly onerous. Such proposals included, variously, requirements for hedging, off-take agreements, and conversion and warrant features and operating constraints that the company considered unacceptable and not in the best interest of shareholders. Acadian Gold came to the conclusion that this equity private placement is a much more favourable way to put the Scotia Mine into production, as it will leave the company with a cleaner balance sheet and unfettered to continue to pursue the growth strategy which has proven successful and rewarding for shareholders to date."
Excellent progress continues to be made with respect to the start-up of the Scotia Mine. Pumping has commenced in the open pit and the processing plant is now being commissioned hydraulically. Pre-production removal of waste material, stockpiling of ore and final commissioning of the plant will commence upon completion of the equity financing.
Before consideration of the Over-Allotment Option below, Acadian Gold has agreed to pay the Underwriters a commission equal to 6.75% of the aggregate gross proceeds and to issue 1,029,375 brokers' warrants to acquire units ("Brokers' Unit Warrants") representing 6.75% of the number of Units issued under the Offering. One Brokers' Unit Warrant will entitle the holder to acquire one unit ("Brokers' Unit") for $1.05 at any time until the date that is 15 months from Closing. Each Brokers' Unit will consist of one common share and one-quarter common share purchase warrant ("Brokers' Underlying Warrant") with each whole Brokers' Underlying Warrant entitling the holder to acquire one common share for $1.35 also exercisable within 15 months of Closing.
Acadian Gold has also granted the Underwriters an over-allotment option ("Over-Allotment Option") to acquire an additional 1,900,000 Units at $1.05 per Unit, which, if exercised in full, would result in additional gross proceeds to Acadian Gold of $1,995,000. If the Over-Allotment Option is exercised in full, the Underwriters will be paid a commission equal to 6.75% of the gross proceeds of the Over-Allotment Option and 134,662 additional Broker Unit Warrants, representing 6.75% of the number of Units issued under the Over-Allotment Option.
All of the securities issued in connection with the Offering will be subject to a four month hold period from the date of issue.
About Acadian Gold
Acadian Gold is a resource company based in Halifax, Nova Scotia, Canada focused on exploring and developing gold and zinc properties in Atlantic Canada.
In addition to exploring and developing zinc properties in Nova Scotia through the Scotia Zinc Project, Acadian Gold is currently focused on developing four advanced gold properties, Beaver Dam, Tangier, Forest Hill and Goldenville, which form the core holdings of the Scotia Goldfields project. All of the four advanced properties host gold resources described in technical reports prepared in compliance with National Instrument 43-101 and are available on www.sedar.com. A summary of gold resources is provided in Press Release No. 01-06, January 5, 2006, under the paragraph titled "About Acadian Gold". Acadian Gold is bringing a new approach to the development of Nova Scotia gold deposits by pursuing a multiple mine central processing, managing and servicing strategy.
The principal focus in the Scotia Zinc project is the Scotia Mine which is slated to commence zinc and lead production in Q1-Q2-2007. At a planned rate of production of 700,000 tonnes per year from the open pit, the Scotia Mine is expected to produce 30,000 tonnes of high grade zinc concentrate and 10,000 tonnes of high grade lead concentrate per year. This is equivalent to 39.8 million pounds of zinc and 16.5 million pounds of lead annually. The projected (feasibility study) cost of production is US$0.34 to $0.36/pound zinc equivalent. Please see Press Release No. 16-06, July, 17, 2006 for further details.
Acadian Gold holds a 51% equity interest in Royal Roads Corp. ("Royal Roads"). Royal Roads' principal asset is a 16,075 hectare (approximately 32 km x 5 km) mineral property known as the Tulks North property which is strategically located in the centre of the world-class Buchans base metal camp in central Newfoundland, Canada. Royal Roads recently purchased 8,890,953 common shares of Buchans River Ltd. ("Buchans River") (BUV - TSX-V). This represents 53.06% of the outstanding shares of Buchans River. The purpose of the share acquisition was to increase the land position under Acadian Gold's control within the famous Buchans mining camp and increase the potential for finding additional zinc-lead-silver deposits. Acadian Gold's indirect interest in Buchans River is 27%.
Royal Roads' Tulks North property is host to the Daniel's Pond deposit which was discovered by BP Resources Canada Ltd. in 1989. Royal Roads reported (See Press Release issued November 7, 2006) an inferred resource (Zn cutoff = 2%, S.G. 4.0) of 1.69 million tonnes grading 0.57% copper, 4.40% lead, 8.37% zinc, 196.9 g/t silver and 0.68 g/t gold over an average width of 4.2 metres. Royal Roads is presently conducting a diamond drilling program at Daniel's Pond.
Industrial Enterprises of America Announces New Operating Executive
Last update: 3/14/2007 8:00:30 AM NEW YORK, Mar 14, 2007
(BUSINESS WIRE) -- Industrial Enterprises of America, Inc. (OTC BB:IEAM.OB), a specialty automotive aftermarket supplier, today announced that Robert "Dan" Redmond has been appointed Executive Vice President of Industrial Enterprises and President of Pitt Penn. Scott Margulis, who served as President of Pitt Penn on an interim basis, will return to sales and has been named Executive Vice President of the parent company. Mr. Redmond comes to Industrial Enterprises with over 25 years of manufacturing and operating experience, most recently as Vice President of manufacturing at Chemtura Corporation (CEM).
Mr. Redmond will join the company effective April 9, 2007. He has been with Chemtura Corporation since 2000, where he has managed 12 manufacturing facilities and 1,800 employees. In his roles at Chemtura, Mr. Redmond was responsible for over $100 million in capital and $350 million in managed conversion cost. He successfully implemented manufacturing techniques that improved efficiency while developing solid relations with both suppliers and customers. Prior to his post as Vice President of manufacturing with Chemtura, he was director of manufacturing for Bromine and Fluorine products at the company.
"We are extremely pleased to announce Dan's addition to Industrial Enterprises," commented John Mazzuto, Chief Executive Officer. "He has proven experience managing complex industrial operations and implementing lean manufacturing techniques that have increased profitability while reducing downtime. His operating expertise makes him uniquely qualified to take Industrial Enterprises to the next level, as we continue to increase throughput and focus on expanding margins."
Mr. Redmond received his Bachelors Degree in Mechanical Engineering at Christian Brothers University and his Masters in Industrial Systems & Operations Research from Memphis State University.
CPNE has been hit hard recently. Down to the low $2's after reaching $3.48 on 2/20. Their business model is a bit sketchy (As I understand it, CPNE's main business relies on email spam to get new members, selling these members products at a volume discount, members in turn re-sell these purchased items on Ebay, etc, and CPNE collects a re-occurring monthly membership fee). That said, the stock looks very cheap. Trailing p/e is nearing 10, forward p/e is much lower. Management indicated that "order volume has increased dramatically over the last few months":
"[CEO] Hill also stated, "we anticipate that 2007 will be another strong year for our Company and we intend on capitalizing upon our upward momentum. We have made several capital investments designed to support this continued growth trend. Our order volume has dramatically increased over the last few months and we believe our re-occurring billable model will produce enhanced profit margins.""
Anyone buying or adding CPNE at this level?
China adopts a new (almost) universal tax rate of 25%, starting 1/08. This will positively or negatively effect some of the profitable Chinese stocks talked about on this board, depending on what country the company is based...
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New corporate tax offers level playing field
China has fulfilled almost all its commitments to the World Trade Organization (WTO) since joining it more than five years ago. And it will meet one of its last pledges next year if the ongoing session of the National People's Congress (NPC) approves a draft.
The long awaited law on new corporate income tax is expected to take effect in 2008, changing China's existing rates for domestic firms (33 percent) and overseas-invested companies (15 percent) to a unified 25 percent. That will provide domestic and overseas-funded firms with a level playing field for the first time since the economic reforms began in the 1980s.
Overseas firms that have invested in sectors such as high-tech manufacturing and services will, however, continue to enjoy the favorable treatment.
Companies from abroad have been enjoying the favorable tax structure since they first tapped the Chinese market.
The government granted them the favor because they faced various investment restrictions in some industries and sharing of stakes, says investment researcher at the University of International Business and Economics Lu Jinyong. "But we cannot grant them preferential treatment forever. They have to be treated equally now, given that China has opened nearly all its markets to foreign players."
In fact, the proposed 25 percent tax is low compared to most other countries. Government data show the average corporate income tax rate in 159 counties and regions was 28.6 percent in 2005-06, with the average rate in the Chinese mainland's 18 neighboring countries and regions being 26.7 percent.
Ever since the subject of a unified corporate tax rate was raised, some experts and analysts have been voicing concern that the move could hurt the inflow of overseas direct investment into China. But Lu feels most overseas-funded firms would not change their investment strategy in China in the long run.
Why? Because, CITIC's China Securities analyst Hu Yanni says, a unified tax regime is one of the factors that attracts overseas direct investment. The key issues in China should be abundant human resources, social stability and an irreplaceable market.
The new system, however, will be phased out over five years, with the tax rate for investors from abroad being raised by 2 percentage points every year. "Overseas investors have five years to adapt to the changes," Hu says. In fact, a number of such businesses have already started internal adjustments to offset the impact of a unified tax rate.
The changes in the corporate income tax rates are expected to benefit some domestic industries. For example, a lower tax rate means higher profit for domestic banks.
CITIC China Securities banking analyst She Minhua says a bank will see a 1 to 1.5 percent profit gain if the income tax is cut by 1 percent. Therefore, if it's lowered from 33 to 25 percent, domestic banks could realize an added profit of 8 to 12 percent. For a bank like the Industrial and Commercial Bank of China (ICBC), which had a pre-provision profit of 78 billion yuan ($10.08 billion) in 2005, it means an added gain of 6 billion yuan ($775.19 million).
Domestic manufacturing companies involved in some traditional sectors would be among the major beneficiaries. Most of such firms now have to pay a 33 percent income tax because they neither enjoy the favorable tax rates like the overseas firms, nor any of the tax reductions given to domestic high-tech businesses.
Analysts say sectors such as food and beverages, iron and steel, coal, papermaking and non-ferrous metals, too, stand to gain from the tax cut.
An automobile business analyst, who doesn't want to be named, says: "Commercial vehicle enterprises such as China National Heavy Duty Truck Group Corp and bus giant Yutong Group may benefit a lot (from a unified tax policy) because most of their funds come from domestic investors ."
The move is expected to prompt some domestic manufacturers in some traditional industries to seek independent and national brands. Some firms now earn most of their profit from joint ventures, which enjoy the preferential tax rates, rather than from their wholly owned businesses.
Apart from the direct tax cut, domestic investors are also expected to benefit from other measures in the proposed tax reform package.
If the new law is passed, domestic companies, like their overseas counterparts, will be allowed to list all the wages they pay as costs, instead of pre-tax deductible items.
Most Chinese companies get a wages deduction of only 1,600 yuan ($206.73) per employee per month, meaning any amount they pay above that is not exempt from corporate tax. "The pre-tax deduction of all paid wages is important for banks because they have a large number of employees and a big wages bill," says She of CITIC China Securities.
Bank of China and the ICBC have "already got the State Administration of Taxation's approval" to raise their wage-deduction threshold.
The new tax system includes other measures that are expected to benefit domestic firms and overseas investors both.
First, the new law will be based more on sectors than regions; preferential tax rates will be granted to firms in high-tech sectors, particularly to biotech and aerospace companies. Preferential rates will also be enjoyed by sectors such as shipbuilding, equipment and machinery, banks, insurance, logistics and the traditional labor-intensive service industry.
Second, the new tax system will encourage corporate firms to take up more social responsibility by raising the deduction rate for donations.
Third, favorable tax rates will be extended to a wide range of sectors such as environmental protection, energy preservation and agricultural infrastructure.
Also, such preferential policies will be adopted across the country, instead of focusing on specific regions.
Four, small-sized enterprises, accounting for a large percentage of businesses, are expected to enjoy favorable tax rates or preferential measures.
Source: China Daily
http://english.people.com.cn/200703/09/eng20070309_355859.html
Thanks abh3vt. That would explain at least some of the volume yesterday. Nice rebound today.
CHCG - China isn't going away after all...
CHCG is back over $6 after a precipitous drop last week. I doubled up on my position at $4.50 just last Friday. CHCG appeared to be a compelling buy in the $4's with revenue forecast to grow by @ 30% Q/Q w/ diluted eps of .12.
I asked their IR guy if he knew who was selling blocks to Pike, even though I figured he wasn't at liberty to tell me. This was his response:
--------------------------------------------------------------------------------------------
Thanks for the info about the website… They are working on one of their own (www.ieam-inc.com).
As for the blocks to Pike, I cannot disclose this information. Pike now owns a significant portion of the company, as you are likely aware.
Best regards,
-Chris
Chris Witty
Asst. VP, Investor Relations
212-201-6609
cwitty@lhai.com
Noticed a few big blocks going off today. Time/sales shows:
11:47:48 AM Trade 5.85 140900
12:38:50 PM Trade 5.85 24000
Probably just Pike at it again...
RLTR ReelTime adds Lionsgate Studio
Digital moviestore to offer pay-per-view content
By BEN FRITZ
The financially tiny but already crowded online movie biz is getting another player, as young company ReelTime has pacted with its first studio, acquiring pay-per-view content from Lionsgate.
ReelTime, which has been offering alternative, kid-oriented and independent video content on its site since the fall, is hoping to stand out from big-name competitors such as Apple iTunes, Microsoft and Amazon.com through its proprietary technology, which starts playing DVD-quality video in under a minute.
Like BitTorrent, which recently launched its own video download store, ReelTime uses peer-to-peer technology to enable much faster video access than other digital moviestores offer.
"We think our technology gives us a significant advantage and can help us to eventually become a replacement for cable," ReelTime CEO Barry Henthorn said.
Company has closed a deal and will soon offer Lionsgate movies for online rental in the PPV window. It's in negotiations with other studios to add more film and TV content.
ReelTime's eventually hoping to offer a broad array of movies and TV shows that can be accessed nearly instantly on-demand and rented individually or via monthly subscription. Netco is currently offering a monthly subscription for its indie content.
http://www.variety.com/article/VR1117960636.html?categoryid=1009&cs=1
http://www.marketwire.com/mw/release_html_b1?release_id=223744
Looks like an 2500 open market purchase by a director at $12.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D07...
Guess who? Pike Capital adds another 413K shares at an avg. price of $6.01. They now have 2.053 million shares! Pike will look real smart if/when IEAM starts posting earnings of @ .50 in a couple of quarters...
CPNE news
Commerce Planet Posts Record Revenue and Net Income for Full Year 2006; Profits in 2006 Surge to $8.7 Million
Last update: 3/1/2007 6:19:00 PMGOLETA, Calif., March 1, 2007 /PRNewswire-FirstCall via COMTEX/ -- Commerce Planet, Inc. (CPNE) an online media company and its wholly owned subsidiaries filed their annual 10KSB today and reported $8.7 million in profit for fiscal 2006. The 2006 profit represents a complete turn around from fiscal 2005's net loss of ($6.3) million. Commerce Planet reported consolidated revenue of $27.5 million and combined revenues, including inter-segment transactions, of $34.8 million for 2006. Consolidated revenues for 2005 were $7.3 million representing year-over-year growth of 275%. Earnings for the year ending December 31, 2006 were $0.20 per weighted average share versus ($0.17) per weighted average share for fiscal 2005.
Michael Hill, CEO, stated, "we are pleased to release our fourth consecutive quarter and first complete year of profitability. We attribute our significant revenue growth and high level of profitability to the 2006 strategic initiatives that were successfully executed upon in support of last year's Commerce Planet re-brand. The Company organically developed or acquired three new subsidiary businesses, Legacy Media, Inc. (), Interaccurate, Inc. () and OS Imaging, Inc. (). It is believed, the services of these subsidiaries leveraged with the power of the Consumer Loyalty Group, Inc. () branded products and services are responsible for the dramatic turn around in the Company's performance."
Consumer Loyalty Group has expanded its product offering and diversified its revenue stream from its original core product, to a suite that now encompasses eight highly profitable products which include amongst others, , and . Since mid-2006, these products have been deployed through the Commerce Planet infrastructure which was designed to consolidate sales and support services, leading to increased net profit margins. The planned focus for 2007 is to expand the subsidiaries' customer base of B2B clientele. Based upon the success of Consumer Loyalty Group, unrelated third party businesses have expressed strong interest in utilizing the Commerce Planet business model to promote and support their own third party branded products and services. Interaccurate, Inc. owned has already executed agreements with several new customers to begin 2007.
Hill also stated, "we anticipate that 2007 will be another strong year for our Company and we intend on capitalizing upon our upward momentum. We have made several capital investments designed to support this continued growth trend. Our order volume has dramatically increased over the last few months and we believe our re-occurring billable model will produce enhanced profit margins."
About Commerce Planet, Inc. () Commerce Planet, Inc. (CPNE) is a publicly traded, internet-based media company. The Company offers online media products, lead generation services and direct marketing tools to its client partners. Commerce Planet offers an internet turnkey media solution through its network of wholly owned subsidiaries, which include Consumer Loyalty Group, Inc., Legacy Media Inc., OS Imaging, Inc. and Interaccurate, Inc. Each subsidiary of Commerce Planet specializes in a specific niche of the online media industry. Their combined services are designed to address the needs of client partners, including membership loyalty programs, direct response consumer marketing, affiliate list management, email deployment, live chat software-based services, direct phone sales and customer service, and printing services.
deathtotaxes - Sometimes I vote Dem, sometimes Rep., but I voted Libertarian in 2000.
I commend Gore for bringing the issue to the forefront and agree, global warming is a major global problem (most scientists are now in agreement on this issue). However, I just wish he and the jet-set Hollywood limousine liberals practiced what they preached to a greater extent. Similarly, I wish conservatives would embrace environmentalism to a greater extent.
I consider myself much more of a "real" environmentalist than most, even though I rarely "preach." But if I must, here goes: I'm 31 and have only owned a car for 4 months in my life, have a 95% vegetarian diet (I haven't eaten cow, chicken, pig, or turkey since I was 18), recycle daily, try to buy organic when it is available, and turn off the light when I leave the room in my (small urban) apartment I rent, among other things. No question, I could improve my daily habits to be even more eco-friendly. But I turn sour when I think of Gore and Leonardo DiCaprio at the Oscars telling the American public that its a "moral issue" to cut back. With a 10,000 sq ft house and a $16K yearly electric bill, how can anyone take him seriously? I think enviromentalism IS a moral issue, and that's why I at least try to live by my beliefs.
I went to Author's Ridge in Sleepy Hollow Cemetery (Concord, MA) back in October and was struck by the difference in R. W. Emerson's grave and that of (my beloved) Henry David Thoreau...Emerson's grave is enormous, a self-important looking pink granite stone with a nameplate surrounded by an unwelcoming fence. His head stone really stands out among the more modest surrounding stones, just as he wanted it to. In contract, Thoreau's grave is almost unnoticable: a simple, dark granite, 1.5 ft high stone w/ only his first name of "Henry." No nameplate, no fence, no inscribed words, no last name, no fancy pink stone, just as simple as a grave could be! I think this contrast sums up these 2 environmental pioneers. If you are familiar w/ the transcendentalists, you know Thoreau was Emerson's gardner. Emerson lived in a huge, spawling house and went from town to town getting paid to lecture on moral and spiritual issues. Thoreau, on the other hand, spent his days working the fields, wandering, observing, writing, living simply, living quietly and without fanfare and as close to nature as possible. He was a doer, not a preacher. Point is, there are differnet types of environmentalist and Emerson and Gore (who are cut from the same cloth) are the kind which make me mad. Good orators, but the environmentalism doesn't run deep....
Isn't Westchester where the well-healed New Yorker's head to their vacation homes on the weekends? My guess is the year round population is small, accounting for the lower electricity consumption per household. However, the figure could be an error - not sure....Point is, Gore is no Thoreau
BTW, here is the link:
http://www.nypost.com/seven/03012007/postopinion/editorials/gore_the_guzzler_editorials_.htm
GORE THE GUZZLER
March 1, 2007 -- How big is Al Gore's carbon footprint?
Pretty hefty.
Gore grabbed an Oscar Sunday night for his global-warming horror flick, "An Inconvenient Truth" - and took the opportunity to lecture America about its duty to Go Green and stay there.
Now a Tennessee think tank has revealed an inconvenient truth of its own - about what Gore actually practices, as opposed to what he endlessly preaches.
The Tennessee Center for Policy Research, using public records, calculated the Gores' energy use for the past two years at their new 20-room, 10,000-square-foot home in suburban Nashville.
In all, the main house and the pool house used an average 18,414 kilowatt-hours (KWH) of power a month last year; that's 14 percent more the 16,200 monthly KWH they devoured in 2005.
Thus does the carbon footprint - the amount of greenhouse gas generated to keep Gore in kilowatts - grow.
But just how much juice is that?
Well, average national household use is 10,656 KWH. For an entire year, that is.
Al and Tipper beat that monthly.
For perspective, the average residential customer in New York City skimped by on just 300 KWH a month, or 3,600 a year - less than 2 percent of Gore's use.
OK, so that's mostly for apartments.
Up in Westchester, where most customers own comfortably large homes, the average monthly usage is 450 KWH, or 5,400 KWH a year - still under 3 percent of what the Gores consume.
As for cost, the average New York City residential energy bill last month was $62.88 before taxes, according to Con Edison; in Westchester, it was $81.80.
What about the Gores?
They paid $1,359 a month for electricity - or about $16,000 per year.
No doubt one could raise a family on that in Tennessee - though not in a home quite as large as Gore's.
And just how big is that palace, comparatively speaking?
Take your typical 800-square-foot, one-bedroom Manhattan pad: You could fit 121/2 of them inside the Gores' abode.
A spokeswoman for Gore didn't dispute the figures, but insisted the former Second Family purchases enough energy from renewable sources to offset their sizable carbon footprint.
No doubt.
But that's just another way of saying that the rich truly are different.
Gore, a Kyoto Protocol advocate, has enough socked away so he won't miss a meal should that treaty ever be adopted - and wreck the U.S. economy.
It was the fear of such damage, recall, that led the U.S. Senate - Veep Al Gore presiding - to reject Kyoto 95-0.
What a hypocrite he is.
And he's not alone.
As The Los Angeles Times reported this week, two of California's greenest pols - Gov. Arnold Schwarzenegger and Sen. Dianne Feinstein - continue to flit around on their private Gulfstream jets.
A single cross-country flight on such an aircraft emits up to 90,000 pounds of carbon dioxide - nearly double the amount the average American produces from all activities in an entire year.
Meanwhile, Laurie David, producer of that Gore documentary, also uses private Gulfstreams - though she rebukes those driving SUVs. (She now says she's cutting back on her private jet usage - but gradually, like a smoker trying to quit.)
And so it goes.
Gore always was tiresome.
Obviously nothing has changed.
Pike Capital adds 243K shares on 2/27 at $6. They now own roughly 1.7 million shares. I like how they have been supporting the stock (and my portfolio)...
Yup. Dow is down 510!
Excellent report from CHCG. Hard to believe the stock traded over $6 yesterday and is now in the $4's after reporting these results and guidance! Nasty day, especially if the stock is related to China.
"...announced today a revenue increase of 355% from $32.6 million in 2005 to $148.2 million in 2006. The company announced a 673% increase in net income for 2006 to $11.3 million or $0.24 earnings per share from $1.5 million or $0.04 earnings per share in 2005. Gross profit for the year rose 435% to $22.8 million, compared with $4.3 million in 2005.
Revenue for the fourth quarter ended December 31, 2006 increased $21 million from the third quarter to $63.6 million and showed a 685% increase from $8.1 million a year earlier. Net income during the fourth fiscal quarter increased 53% to $4.9 million or $0.09 earnings per share from $3.2 million or $0.07 earnings per share in the third quarter
Looking forward, the company said its target for diluted earnings per share in the first quarter ending March 31, 2007 is approximately $0.12 with an expected net income of $6.3 million to $6.4 million. The company said its forecast for revenue in the first quarter is expected to range from $82 million to $83 million. "
FYI, achieved audio presentations from last week's Roth conference:
http://www.wsw.com/webcast/roth9/
Presenting VMC favorites include CXTI, HRBN, ADY, CPNE, OFI, CSTC, (RGRP), SMDI, AOB, etc
Interviews are roughly 30 minutes each.
KSW still looks very cheap to me:
Stock price = $6.69
Backlog = $110M
Last Q's EPS = .18
Annualized EPS (.18 x 4) = .72
Current forward p/e ($6.69/.72) = 9.29
Appx. cash on KSW balance sheet: $2.15
Back out the cash on the balance sheet and the forward p/e drops to 6.30! ($6.69 - $2.15 = $4.54; $4.54/.72 = 6.3)
So, in other words, ex-cash, KSW's business itself is being currently valued with a 6.3 forward p/e. Not may companies with this level of cash, safety (backlog), while still having a extremely low p/e.
The avg. p/e for the "General Contractor" sector is 20.1, well below KSW's trailing and forward p/e's. KSW especially looks cheap when you factor in the well-above-par growth rate and balance sheet.
Margins, revenue, backlog, earnings - everything has been rapidly improving. No let up in sight! Even Trump gave KSW the thumbs up...
New Form 4 filing. Pike Capital bought 221k more shares on 2/20 at an avg. price of $6.08. They own 1,455,770 shares now.
Nicusa Capital Partners files a 13G this afternoon. They bought at 5.69% stake in KSW....
http://www.pinksheets.com/quote/news.jsp?symbol=KSW
Nice quarter. Minus items, EPS was .18 vs. .10 and year end backlog was $110M vs. $82M. Nice improvements! Foward p/e is under 10. When you consider the $2 of cash on the balance sheet plus the safety of KSW having such a large backlog, I think this looks quite undervalued in the $6's with these earnings.
KSW's Fourth Quarter and Annual Operating Revenues and Profits Continue to RiseLast update: 2/22/2007 9:27:20 AMLONG ISLAND CITY, N.Y., Feb 22, 2007 (BUSINESS WIRE) -- KSW, Inc. (KSW) today reported preliminary fourth quarter and year end financial results for 2006. Total revenues for the fourth quarter of 2006 were $19,591,000 as compared to $17,101,000 for the same period in 2005. Gross profit for the fourth quarter of 2006 was $2,925,000 as compared to $2,694,000 for the fourth quarter of 2005. Net income for the fourth quarter of 2006 was $1,016,000 or $ .18 per share (basic and diluted) as compared to net income of $996,000 or $.19 per share (basic and diluted) during the fourth quarter of 2005. Net income for the fourth quarter of 2006 includes a $107,000 gain resulting from the reversal of the allowance for doubtful accounts, and a $101,000 expense for stock compensation related to the exercising of stock options and the adoption of a new accounting standard, FAS-123R. Net income for the fourth quarter of 2005 was effected by the previously disclosed settlement of the Co-Op City claim of $479,000. Without these adjustments, net income for the fourth quarter of 2006 would be $.18 per share (basic and diluted), as compared to $.10 per share (basic and diluted) for the fourth quarter of 2005. Total revenues for 2006 were $77,128,000 as compared to total revenues in 2005 of $53,378,000. Gross profit for 2006 was $9,973,000 as compared to $6,481,000 for 2005. Net income for 2006 was $2,765,000, or $.49 per share-basic and $.48 per share-diluted, as compared to net income of $2,711,000, or $.50 per share (basic and diluted) for 2005. Net income for 2006 includes a $107,000 gain resulting from the reversal of the allowance for doubtful accounts, and a $374,000 expense for stock compensation related to the exercising of stock options and the adoption of FAS-123R. KSW Inc's financial results for prior periods have not been restated for FAS -123R. Net income for 2005 was increased by the Co-Op City claim settlement and a tax benefit resulting from the previously disclosed reversal of the deferred tax allowance. Without these adjustments, the net income for 2006 would be $3,032,000 or $.54 per share-basic and $.53 per share-diluted, as compared to $.27 per share (basic & diluted) for 2005. As of December 31, 2006, the Company had a backlog of approximately $110,000,000, as compared to a backlog of approximately $82,200,000 as of December 31, 2005.
KSW posts a solid quarter. Minus items, EPS of .18 vs. .10. Year end backlog of $110M vs. $82M. Excellent balance sheet.
KSW's Fourth Quarter and Annual Operating Revenues and Profits Continue to RiseLast update: 2/22/2007 9:27:20 AM
LONG ISLAND CITY, N.Y., Feb 22, 2007 (BUSINESS WIRE) -- KSW, Inc. (KSW) today reported preliminary fourth quarter and year end financial results for 2006. Total revenues for the fourth quarter of 2006 were $19,591,000 as compared to $17,101,000 for the same period in 2005. Gross profit for the fourth quarter of 2006 was $2,925,000 as compared to $2,694,000 for the fourth quarter of 2005.
Net income for the fourth quarter of 2006 was $1,016,000 or $ .18 per share (basic and diluted) as compared to net income of $996,000 or $.19 per share (basic and diluted) during the fourth quarter of 2005. Net income for the fourth quarter of 2006 includes a $107,000 gain resulting from the reversal of the allowance for doubtful accounts, and a $101,000 expense for stock compensation related to the exercising of stock options and the adoption of a new accounting standard, FAS-123R. Net income for the fourth quarter of 2005 was effected by the previously disclosed settlement of the Co-Op City claim of $479,000. Without these adjustments, net income for the fourth quarter of 2006 would be $.18 per share (basic and diluted), as compared to $.10 per share (basic and diluted) for the fourth quarter of 2005.
Total revenues for 2006 were $77,128,000 as compared to total revenues in 2005 of $53,378,000. Gross profit for 2006 was $9,973,000 as compared to $6,481,000 for 2005. Net income for 2006 was $2,765,000, or $.49 per share-basic and $.48 per share-diluted, as compared to net income of $2,711,000, or $.50 per share (basic and diluted) for 2005. Net income for 2006 includes a $107,000 gain resulting from the reversal of the allowance for doubtful accounts, and a $374,000 expense for stock compensation related to the exercising of stock options and the adoption of FAS-123R.
KSW Inc's financial results for prior periods have not been restated for FAS -123R. Net income for 2005 was increased by the Co-Op City claim settlement and a tax benefit resulting from the previously disclosed reversal of the deferred tax allowance. Without these adjustments, the net income for 2006 would be $3,032,000 or $.54 per share-basic and $.53 per share-diluted, as compared to $.27 per share (basic & diluted) for 2005. As of December 31, 2006, the Company had a backlog of approximately $110,000,000, as compared to a backlog of approximately $82,200,000 as of December 31, 2005.
10% owner Pike Capital adds more shares on 2/16/07:
http://www.secform4.com/1059677-000101359407000152.htm
Judging by the purchase prices, looks like they bought 14K shares near the open ($5.21) and added substantially more after the conference call ($5.63+).
R59-Ameritrade streamer is and has been working fine for me today....
Answers.com Releases Free AnswerTips(TM) Tool for Websites and Blogs Last update: 2/20/2007 9:19:00 AM
NEW YORK, February 20, 2007 /PRNewswire-FirstCall via COMTEX/ -- - Instant "Information Bubble" Offers the Power of Answers.com's Four Million Topics Answers Corporation (ANSW), creator of Answers.com(TM), today began offering its latest webmaster tool, AnswerTips(TM), to websites and blogs. AnswerTips allow sites to provide visitors with instant access to Answers.com's comprehensive information on four million topics, without having them leave the site or blog. AnswerTips are a unique site feature and provide instant background information when a site's visitor double-clicks a word on an "AnswerTips-enabled" site. Activate an AnswerTip, and without leaving the page, a small information bubble opens, providing definitions, explanations, biographies, historical background and countless other types of relevant information. Unlike other offerings, the AnswerTip provides content on the spot, rather than a number of related search links to follow. The free content in an AnswerTip comes from Answers.com's extensive database of information consisting of four million topics that are licensed from over 120 authoritative reference publications and other resources. "It's about immediate gratification for anyone reading your blog," said Gil Reich, Vice President of Product Management for Answers Corporation. "Readers get the information they want while remaining engaged in reading your content. Fewer distractions create a better experience on a website, and they save the writer time providing background information on subjects and terminology that his or her audience might be unfamiliar with." The technology behind AnswerTips yields a more productive user experience than a simple dictionary site or program. The tool has the ability to crack acronyms, quote stock prices and retrieve biographical information on everyone from rock musicians to political figures. Using patented technology, AnswerTips scans the text surrounding a word to retrieve the most appropriate information. For instance, it can differentiate between 'Paris Hilton' and 'plaster of Paris' when only the word "Paris" is double-clicked. Currently, AnswerTips technology has been implemented on Answers.com, WikiAnswers (wiki.answers.com) and CBSNews.com, and was beta tested on a few select blogs and websites, including: A VC () CleverClogs () California Polytechnic State University Library ( ) Write Technology () In addition to being available directly from Answers.com at: () AnswerTips are also available within the widget gallery of TypePad at: . Other free tools from Answers.com include 1-Click AnswersTM (Windows, Mac OS X), which enables AnswerTips within all of your desktop applications, and the Firefox extension (Windows, Mac OS X and Linux). For more about Answers.com webmaster tools, visit .
IEAM - EBITDA
IEAM still has $30 million in NOL's and they don't anticipate paying taxes for 2 more years. The CEO anticipates these non-cash expenses associated with the company's convertible securities and warrants will be gone by the end of 2007. Therefore, I think EBITDA is the best metric to use in evaluating their financials at this point in time because these non-cash charges are confusing.
Doubtful, however I don't know how people will view this. I think EBITDA is a better way to look at earnings with regard to IEAM. The $1.8 million loss includes a $4.1 million loss in non-cash expenses associated with the company's convertible securities and warrants, which are non-operational. EBITDA was .20. Guidance looks strong for the next couple of quarters. Hopefully ABH3VT weighs in because what he says is the final word...
IEAM reports and guides:
Industrial Enterprises of America Reports Second Quarter Revenue of $17 Million
NEW YORK, Feb 16, 2007 (BUSINESS WIRE) -- Industrial Enterprises of America, Inc. (IEAM), a specialty automotive aftermarket supplier, today announced results for the fiscal second quarter and six months ended December 31, 2006.
Revenue for the second quarter was a record $17.0 million as compared with $10.0 million in the first fiscal quarter of 2007 and $5.6 million for the same period in fiscal 2006. The increase over last year's second quarter was partially due to the inclusion of the Pitt Penn Group, acquired January 31, 2006, which added approximately $5.0 million in revenue, and also reflects increased demand across the Pitt Penn and Unifide product lines. The 70% sequential revenue gain over the first quarter was due to the company's higher production level, resulting from operating efficiencies combined with strong order flow within the company's end markets.
The company reported gross profit of $4.0 million, representing a gross margin of 23.7%, versus $2.7 million, or 27.1%, in the first quarter of fiscal 2007 and $1.4 million, or 24.7%, in the second quarter of fiscal 2006. The decrease in margins was due to a different product mix as a result of expanding operations and the mild weather in the December quarter. EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter was $2.8 million, or $0.20 per share. Income from operations was $2.3 million in the quarter versus $345,000 in the first quarter. Notably, operating expenses were 25%, or $600,000, lower than the first quarter reflecting the absence of one-time expenses arising from the consolidation of our facilities. The net loss for the quarter was ($1.8 million), which includes $4.1 million in non-cash expenses associated with the company's convertible securities and warrants. The conversion of over 50% of the convertible notes and exercise of warrants resulted in an accelerated charge to income of the valuation of such securities added to the balance sheet arising from their issuance. The company's fully diluted shares calculated using the treasury method as of December 31, 2006 was 13.9 million.
For the six months of fiscal 2007, Industrial Enterprises of America reported revenue of $27.0 million versus $10.6 million in the same period last year, reflecting the acquisition of Pitt Penn and increased demand for its automotive products. Gross profit was $6.8 million, representing a gross margin of 25.2%, versus $2.8 million, or 26.6%, for the same period in fiscal 2006. EBITDA was $5.8 million, or $0.41 per share. The net loss for the period was ($1.1) million, versus a loss of $(0.8) million for the first half of fiscal 2006.
"We exceeded our revenue target while EBITDA came within an acceptable range. We are pleased with these results given that December temperatures in the Northeast were among the highest on record - limiting sales of our higher-margin seasonal products," stated John Mazzuto, Chief Executive Officer of Industrial Enterprises of America. "By focusing on non-seasonal items and limiting our winter inventory, our production, up 70% from just three months ago, allowed us to grow dramatically. Our Pitt Penn facility performed to plan utilizing a single-shift operation, resulting in lower costs as we produced to match order intake. In addition, our integrated sales force expanded our product penetration across existing outlets. Our order flow now outpaces shipments, and we have already begun our second shift at the Pitt Penn facility ahead of schedule
"Strategically, we have also taken a number of steps to expand our product portfolio and further reduce seasonality in the business," Mr. Mazzuto continued. "We are moving to longer production runs to maximize line efficiency, as our end markets are able to absorb the increased output. Our aerosol business - which recently announced a joint venture in China - continues to move forward on a variety of fronts. This operation should contribute substantially in the coming fiscal year.
"In addition, as part of our strategy to acquire virtual marketing companies, we purchased Fire 1st Defense, a firm that sells innovative, consumer-friendly fire extinguishers and suppressants. We anticipate growing demand for this product, boosted by our current distribution channels, and increasing operating efficiency through the utilization of existing capacity at our EMC Packaging plant."
Mr. Mazzuto concluded, "Looking ahead, we are confident that the steps taken in the past six months to improve production efficiencies and rationalize assets place the company in an excellent position to drive top line growth, margin expansion, and return on net assets going forward. We will continue to optimize capacity to meet demand while enhancing productivity."
Between January 17 and February 15, 2007, Industrial Enterprises purchased 100,000 shares of its outstanding common stock. The company has thus purchased 950,000 shares as part of its $10 million buyback program announced December 11, 2006.
Guidance: Management believes that EBITDA is the performance measure that best reflects the company's economic value and provides investors with a consistent metric to track historical results and monitor future results. In providing guidance, management assumes normal weather patterns. For the third fiscal quarter, Industrial Enterprises estimates revenue of approximately $25 million, with EBITDA per share of $0.32-$0.34. For the fourth fiscal quarter, the company estimates revenue of approximately $30 million, with EBITDA per share of $0.50-$0.52. For fiscal year 2007, Industrial Enterprises estimates total revenue of approximately $80 million, with EBITDA per share of $1.22-$1.24 including the first quarter's $2.4 million income from asset sales. EBITDA per share is calculated using the current fully diluted share count, including treasury method, of 13.9 million shares. The company makes use of EBITDA (earnings before interest, taxes, depreciation and amortization) as a financial measure which it believes is a useful performance indicator. EBITDA is not a recognized term under generally accepted accounting principles, or "GAAP," and should not be considered as an alternative to net income/(loss) or net cash provided by operating activities, which are GAAP measures. A reconciliation of EBITDA to net income/(loss) appears at the end of this release, as do both actual results for the quarter and year-to-date periods.
Conference Call: Industrial Enterprises of America will host an earnings conference call at 11:00 a.m. Eastern on February 16, 2007 for the company's fiscal second quarter ended December 31, 2006. During the call, John Mazzuto, Chief Executive Officer, will discuss the company's quarterly performance and financial results. The telephone number for the conference call is 877-407-0782. The call will be webcast and can be accessed at . Investors will be able to access an encore recording of the conference call for one week by calling 877-660-6853 and referencing account number 286, conference number 232183; the recording will be available two hours after the conference call has concluded. In addition, a replay of the webcast will be available for 180 days after the call on .
IEAM reports and guides:
Industrial Enterprises of America Reports Second Quarter Revenue of $17 Million
NEW YORK, Feb 16, 2007 (BUSINESS WIRE) -- Industrial Enterprises of America, Inc. (IEAM), a specialty automotive aftermarket supplier, today announced results for the fiscal second quarter and six months ended December 31, 2006.
Revenue for the second quarter was a record $17.0 million as compared with $10.0 million in the first fiscal quarter of 2007 and $5.6 million for the same period in fiscal 2006. The increase over last year's second quarter was partially due to the inclusion of the Pitt Penn Group, acquired January 31, 2006, which added approximately $5.0 million in revenue, and also reflects increased demand across the Pitt Penn and Unifide product lines. The 70% sequential revenue gain over the first quarter was due to the company's higher production level, resulting from operating efficiencies combined with strong order flow within the company's end markets.
The company reported gross profit of $4.0 million, representing a gross margin of 23.7%, versus $2.7 million, or 27.1%, in the first quarter of fiscal 2007 and $1.4 million, or 24.7%, in the second quarter of fiscal 2006. The decrease in margins was due to a different product mix as a result of expanding operations and the mild weather in the December quarter. EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter was $2.8 million, or $0.20 per share. Income from operations was $2.3 million in the quarter versus $345,000 in the first quarter. Notably, operating expenses were 25%, or $600,000, lower than the first quarter reflecting the absence of one-time expenses arising from the consolidation of our facilities. The net loss for the quarter was ($1.8 million), which includes $4.1 million in non-cash expenses associated with the company's convertible securities and warrants. The conversion of over 50% of the convertible notes and exercise of warrants resulted in an accelerated charge to income of the valuation of such securities added to the balance sheet arising from their issuance. The company's fully diluted shares calculated using the treasury method as of December 31, 2006 was 13.9 million.
For the six months of fiscal 2007, Industrial Enterprises of America reported revenue of $27.0 million versus $10.6 million in the same period last year, reflecting the acquisition of Pitt Penn and increased demand for its automotive products. Gross profit was $6.8 million, representing a gross margin of 25.2%, versus $2.8 million, or 26.6%, for the same period in fiscal 2006. EBITDA was $5.8 million, or $0.41 per share. The net loss for the period was ($1.1) million, versus a loss of $(0.8) million for the first half of fiscal 2006.
"We exceeded our revenue target while EBITDA came within an acceptable range. We are pleased with these results given that December temperatures in the Northeast were among the highest on record - limiting sales of our higher-margin seasonal products," stated John Mazzuto, Chief Executive Officer of Industrial Enterprises of America. "By focusing on non-seasonal items and limiting our winter inventory, our production, up 70% from just three months ago, allowed us to grow dramatically. Our Pitt Penn facility performed to plan utilizing a single-shift operation, resulting in lower costs as we produced to match order intake. In addition, our integrated sales force expanded our product penetration across existing outlets. Our order flow now outpaces shipments, and we have already begun our second shift at the Pitt Penn facility ahead of schedule
"Strategically, we have also taken a number of steps to expand our product portfolio and further reduce seasonality in the business," Mr. Mazzuto continued. "We are moving to longer production runs to maximize line efficiency, as our end markets are able to absorb the increased output. Our aerosol business - which recently announced a joint venture in China - continues to move forward on a variety of fronts. This operation should contribute substantially in the coming fiscal year.
"In addition, as part of our strategy to acquire virtual marketing companies, we purchased Fire 1st Defense, a firm that sells innovative, consumer-friendly fire extinguishers and suppressants. We anticipate growing demand for this product, boosted by our current distribution channels, and increasing operating efficiency through the utilization of existing capacity at our EMC Packaging plant."
Mr. Mazzuto concluded, "Looking ahead, we are confident that the steps taken in the past six months to improve production efficiencies and rationalize assets place the company in an excellent position to drive top line growth, margin expansion, and return on net assets going forward. We will continue to optimize capacity to meet demand while enhancing productivity."
Between January 17 and February 15, 2007, Industrial Enterprises purchased 100,000 shares of its outstanding common stock. The company has thus purchased 950,000 shares as part of its $10 million buyback program announced December 11, 2006.
Guidance: Management believes that EBITDA is the performance measure that best reflects the company's economic value and provides investors with a consistent metric to track historical results and monitor future results. In providing guidance, management assumes normal weather patterns. For the third fiscal quarter, Industrial Enterprises estimates revenue of approximately $25 million, with EBITDA per share of $0.32-$0.34. For the fourth fiscal quarter, the company estimates revenue of approximately $30 million, with EBITDA per share of $0.50-$0.52. For fiscal year 2007, Industrial Enterprises estimates total revenue of approximately $80 million, with EBITDA per share of $1.22-$1.24 including the first quarter's $2.4 million income from asset sales. EBITDA per share is calculated using the current fully diluted share count, including treasury method, of 13.9 million shares. The company makes use of EBITDA (earnings before interest, taxes, depreciation and amortization) as a financial measure which it believes is a useful performance indicator. EBITDA is not a recognized term under generally accepted accounting principles, or "GAAP," and should not be considered as an alternative to net income/(loss) or net cash provided by operating activities, which are GAAP measures. A reconciliation of EBITDA to net income/(loss) appears at the end of this release, as do both actual results for the quarter and year-to-date periods.
Conference Call: Industrial Enterprises of America will host an earnings conference call at 11:00 a.m. Eastern on February 16, 2007 for the company's fiscal second quarter ended December 31, 2006. During the call, John Mazzuto, Chief Executive Officer, will discuss the company's quarterly performance and financial results. The telephone number for the conference call is 877-407-0782. The call will be webcast and can be accessed at . Investors will be able to access an encore recording of the conference call for one week by calling 877-660-6853 and referencing account number 286, conference number 232183; the recording will be available two hours after the conference call has concluded. In addition, a replay of the webcast will be available for 180 days after the call on .
SVL moving from the AMEX to the NASDAQ
Silverleaf Resorts, Inc. to List Common Stock on the NASDAQ Capital MarketLast
update: 2/15/2007 4:30:21 PM
DALLAS, Feb 15, 2007 (BUSINESS WIRE) -- Silverleaf Resorts, Inc. (SVL) ("Silverleaf") today announced that its common stock has been approved for listing on The NASDAQ Capital Market under the symbol "SVLF." As a result, trading in Silverleaf common stock will cease on the American Stock Exchange and commence on The NASDAQ Capital Market effective as of the opening of the markets on or about March 1, 2007. "We believe that The NASDAQ Capital Market will not only provide more recognition for Silverleaf in the investment community, but also create a more liquid, efficient and transparent marketplace, providing better execution quality for our stockholders," stated Thomas J. Morris, Sr. Vice President, Capital Markets of Silverleaf. "We have been pleased with our relationship with the American Stock Exchange staff and we appreciate their professionalism."
Excellent! Should be an interesting earnings call tomorrow morning, assuming they haven't filed by then....
Answers Corporation to Participate at JP Morgan Global Internet Conference
Last update: 2/15/2007 10:17:00 AM
NEW YORK, February 15, 2007 /PRNewswire-FirstCall via COMTEX/ --
- Live Webcast Available
WHAT: JP Morgan Global Internet Conference New York, NY March 12, 2007 4:05 pm ET / 1:05 pm PT WHO: Robert S. Rosenschein, Chief Executive Officer Bruce D. Smith, CFA, Vice President of StrategicDevelopment HOW: A live Webcast of the conference can be accessed at: About Answers CorporationAnswers Corporation (ANSW) operates the award-winning Answers.com(TM) information portal, delivering comprehensive content on four million topics spanning health, finance, entertainment, business and more. Content includes over 100 licensed titles from leading publishers such as Houghton Mifflin Riverdeep Group PLC, Barron's, Britannica, All Media Guide and others; original articles written by Answers.com's editorial team; community-contributed articles from Wikipedia; and user-generated questions & answers from Answers.com's industry-leading WikiAnswers(TM) (wiki.answers.com). Founded in 1999 by CEO Bob Rosenschein, Answers.com can be launched directly from within Internet Explorer 7, Firefox and Opera browsers, and its service is integrated into sites like Amazon.com's A9.com, The New York Public Libraries' homeworkNYC.org, The New York Times, CBSNews.com and others. Answers.com is also available for mobile devices at mobile.answers.com. For investment information, visit ir.answers.com.(answ-g)
PUDC looks cheap if they can hit their guidance:
Puda Coal Provides Business Outlook
Revenues Expected to Grow to $165 to $172 Million 2007
Operating Income Expected to Grow to $27-$29 Million
TAIYUAN, China, Feb 15, 2007 /Xinhua-PRNewswire-FirstCall via COMTEX/ -- Puda Coal, Inc. (PUDC) (''Puda Coal'' or ''the Company''), a leading supplier of China's high grade metallurgical coking coal used to make coke for the purposes of steel manufacturing, today announced preliminary results for the fiscal year ended December 31, 2006 and issued its financial guidance for 2007. Puda Coal now expects to report total revenues for 2006 in the range of approximately $137 million to $138 million, or about 165% over 2005 revenues of $51.7 million, consistent with the company's previous guidance of 2006 revenues of $137 million. In addition, the Company expects to report full year 2006 operating income of between $22 million and $23 million. Puda Coal also emphasized financial guidance for 2007 stating that the revenue expectation for the full year 2007 is of $165 to $172 million, consistent with its earlier 2007 guidance. In addition, the Company expects to report full year 2007 operating income of between $27 million and $29 million. ''As we enter 2007, we are optimistic about our near-term, as well as long-term, opportunities to grow Puda Coal into a leading provider of high grade, metallurgical coking coal, while delivering strong top- and bottom-line results to our shareholders,'' said Zhao Ming, Chairman and Chief executive officer. ''The continued robust demand for our products from the steel industry, efficient operations, and long term supply agreements for coal all provide us confidence that these goals are achievable.'' Puda Coal cautioned above estimates for 2006 results are preliminary and the Company has not yet completed its 2006 audit. Therefore, these results are subject to change and revision. The Company expects to report audited financial results for the full year 2006 in March of 2007.