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BSEG vol at ask 14....up 8%...not in just a heads up
it was .0001....i got the big bucks! LOL
ty! amazing thing is my portfolio did better while i was gone...lol...maybe i should stay away ;)
fair enough...keep it on watch.....you take care and GL :)
hey lotto board!! hey SL :) back home and happy to be here....hope to be around a little more this week but still will not be full time yet.
you doing well?
LOL!! how did you do that? poker faced? LOL, congrats :)
wasn't sopo a poet?,,,,,,no, sapho...i dunno
rotten eggs on 'em!
hey tenac....what did u decide?
GL today! cya tuesday
nono...thursday was buzzday ;)
bet it is beautiful.
LOL! ;) sounds like to to go home.
LOL! :)
same here....ty so much for your help getting my shares :) sooooo glad i took the $$ and ran!
nuts!
BPWW Big Apple Worldwide, Inc. Announces Capital Restructuring Market Wire "US Press Releases "
NEW YORK, NY -- (MARKET WIRE) -- 08/02/07 -- Big Apple Worldwide, Inc. (PINKSHEETS: BPWW) announced today that the Company will be restructuring its stock in order to position itself for profitability in the next 12 to 18 months. The Company will be implementing a 250 to 1 reverse stock split of its outstanding common stock, subject to completion of regulatory compliance requirements. The Company will announce shortly both the record date and the effective date.
The Big Apple Worldwide Board of Directors approved this capital restructuring as a means to position the Company to be more attractive to possible investment candidates; to reduce the market volatility that Big Apple Worldwide, Inc.'s shares have experienced; and to better reflect the Company's expected rapid growth through its kiosk program.
"We feel that both Big Apple Worldwide, Inc. , and our shareholders will benefit from this reverse split. After careful consideration, we decided that this was the best means in which to put Big Apple Worldwide, Inc. in a more appealing financial position," stated Neal Jablon, President of Big Apple Worldwide, Inc.
Big Apple Worldwide, Inc.'s wholly owned subsidiary, Big Apple Wallcovering, Inc. , recently announced that it has contracted a fulfillment firm to support the rollout of its "No More Books" kiosk program. The kiosks will be placed in retail stores starting in New York City and Chicago in August with the goal of revolutionizing the way consumers shop for wallcoverings. The Big Apple kiosks will replace the heavy, space-consuming sample books with a Web-based system powered by a database of thousands of wallcovering choices from numerous manufacturers. Customers will be able to order samples free of charge and have them shipped via USPS priority mail for easy matching and comparing inside the home.
About Big Apple Worldwide, Inc. : Big Apple Worldwide, Inc. (www.bigappleworldwide.com) is a holding company focused on serving the hospitality and leisure market. Big Apple Wallcovering, Inc. (www.bigapplewallcovering.com) is a wholly owned subsidiary of Big Apple Worldwide and has inspired the Architecture and Design community with cutting-edge design and the manufacturing of architectural wallcovering and fabrics for hospitality, private offices and commercial interiors. Big Apple Worldwide, Inc. also recently purchased Elabrient Surfaces (www.elabrient.com), which is a commercial interior design development and manufacturing company specializing in commercial wallcovering. Big Apple Travel, Inc. (www.bigappletravel.com), a wholly owned subsidiary of Big Apple Worldwide, Inc. , is a full-service travel agency and features a next generation travel salon in Orlando, Florida .
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit http://www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
Contact:
For more information visit
www.bigappleworldwide.com
or contact:
Investor Relations
(866) THE APPL(E)
BPWW 1:250 RS.. Big Apple Worldwide, Inc. Announces Capital Restructuring Market Wire "US Press Releases "
NEW YORK, NY -- (MARKET WIRE) -- 08/02/07 -- Big Apple Worldwide, Inc. (PINKSHEETS: BPWW) announced today that the Company will be restructuring its stock in order to position itself for profitability in the next 12 to 18 months. The Company will be implementing a 250 to 1 reverse stock split of its outstanding common stock, subject to completion of regulatory compliance requirements. The Company will announce shortly both the record date and the effective date.
The Big Apple Worldwide Board of Directors approved this capital restructuring as a means to position the Company to be more attractive to possible investment candidates; to reduce the market volatility that Big Apple Worldwide, Inc.'s shares have experienced; and to better reflect the Company's expected rapid growth through its kiosk program.
"We feel that both Big Apple Worldwide, Inc. , and our shareholders will benefit from this reverse split. After careful consideration, we decided that this was the best means in which to put Big Apple Worldwide, Inc. in a more appealing financial position," stated Neal Jablon, President of Big Apple Worldwide, Inc.
Big Apple Worldwide, Inc.'s wholly owned subsidiary, Big Apple Wallcovering, Inc. , recently announced that it has contracted a fulfillment firm to support the rollout of its "No More Books" kiosk program. The kiosks will be placed in retail stores starting in New York City and Chicago in August with the goal of revolutionizing the way consumers shop for wallcoverings. The Big Apple kiosks will replace the heavy, space-consuming sample books with a Web-based system powered by a database of thousands of wallcovering choices from numerous manufacturers. Customers will be able to order samples free of charge and have them shipped via USPS priority mail for easy matching and comparing inside the home.
About Big Apple Worldwide, Inc. : Big Apple Worldwide, Inc. (www.bigappleworldwide.com) is a holding company focused on serving the hospitality and leisure market. Big Apple Wallcovering, Inc. (www.bigapplewallcovering.com) is a wholly owned subsidiary of Big Apple Worldwide and has inspired the Architecture and Design community with cutting-edge design and the manufacturing of architectural wallcovering and fabrics for hospitality, private offices and commercial interiors. Big Apple Worldwide, Inc. also recently purchased Elabrient Surfaces (www.elabrient.com), which is a commercial interior design development and manufacturing company specializing in commercial wallcovering. Big Apple Travel, Inc. (www.bigappletravel.com), a wholly owned subsidiary of Big Apple Worldwide, Inc. , is a full-service travel agency and features a next generation travel salon in Orlando, Florida .
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit http://www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
Contact:
For more information visit
www.bigappleworldwide.com
or contact:
Investor Relations
(866) THE APPL(E)
Big Apple Worldwide, Inc. Announces Capital Restructuring Market Wire "US Press Releases "
NEW YORK, NY -- (MARKET WIRE) -- 08/02/07 -- Big Apple Worldwide, Inc. (PINKSHEETS: BPWW) announced today that the Company will be restructuring its stock in order to position itself for profitability in the next 12 to 18 months. The Company will be implementing a 250 to 1 reverse stock split of its outstanding common stock, subject to completion of regulatory compliance requirements. The Company will announce shortly both the record date and the effective date.
The Big Apple Worldwide Board of Directors approved this capital restructuring as a means to position the Company to be more attractive to possible investment candidates; to reduce the market volatility that Big Apple Worldwide, Inc.'s shares have experienced; and to better reflect the Company's expected rapid growth through its kiosk program.
"We feel that both Big Apple Worldwide, Inc. , and our shareholders will benefit from this reverse split. After careful consideration, we decided that this was the best means in which to put Big Apple Worldwide, Inc. in a more appealing financial position," stated Neal Jablon, President of Big Apple Worldwide, Inc.
Big Apple Worldwide, Inc.'s wholly owned subsidiary, Big Apple Wallcovering, Inc. , recently announced that it has contracted a fulfillment firm to support the rollout of its "No More Books" kiosk program. The kiosks will be placed in retail stores starting in New York City and Chicago in August with the goal of revolutionizing the way consumers shop for wallcoverings. The Big Apple kiosks will replace the heavy, space-consuming sample books with a Web-based system powered by a database of thousands of wallcovering choices from numerous manufacturers. Customers will be able to order samples free of charge and have them shipped via USPS priority mail for easy matching and comparing inside the home.
About Big Apple Worldwide, Inc. : Big Apple Worldwide, Inc. (www.bigappleworldwide.com) is a holding company focused on serving the hospitality and leisure market. Big Apple Wallcovering, Inc. (www.bigapplewallcovering.com) is a wholly owned subsidiary of Big Apple Worldwide and has inspired the Architecture and Design community with cutting-edge design and the manufacturing of architectural wallcovering and fabrics for hospitality, private offices and commercial interiors. Big Apple Worldwide, Inc. also recently purchased Elabrient Surfaces (www.elabrient.com), which is a commercial interior design development and manufacturing company specializing in commercial wallcovering. Big Apple Travel, Inc. (www.bigappletravel.com), a wholly owned subsidiary of Big Apple Worldwide, Inc. , is a full-service travel agency and features a next generation travel salon in Orlando, Florida .
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
To automatically receive instant updates, press releases, and other information on this and other Big Apple Consulting USA companies, please visit http://www.bigappleconsulting.com/compro.php and download your FREE copy of Big Apple ComPro.
Contact:
For more information visit
www.bigappleworldwide.com
or contact:
Investor Relations
(866) THE APPL(E)
yep...beautiful...thanks :)
green happening! LOL
maug weeeeeeeeee :)
MAUG .075x1 .08x2 weeeeeeeeeeeeee
OLGC 1.43 OrthoLogic Establishes Scientific Advisory Board PrimeNewswire "PrimeNewswire "
TEMPE, Ariz., Aug. 2, 2007 (PRIME NEWSWIRE) -- OrthoLogic Corp. (Nasdaq:OLGC) today announced the formation of a Scientific Advisory Board (SAB) with the appointments of Michael E. Mendelsohn, M.D. of Tufts-New England Medical Center and Charles A. Dinarello, M.D. of University of Colorado School of Medicine . The SAB will provide independent scientific advice and counsel to OrthoLogic Management and Board of Directors regarding key development decisions for the Company's novel synthetic peptides Chrysalin(r) (TP508) and AZX100. Dr. Mendelsohn will serve as Chairman of the SAB.
"I am delighted we have been able to attract these distinguished individuals to our Scientific Advisory Board," said Randolph C. Steer, M.D., Ph.D., President of OrthoLogic. "The creation of this new SAB demonstrates our commitment to the strategic drug development program we have previously outlined. It will enable us to benefit from the remarkable expertise that Professors Mendelsohn and Dinarello offer in areas of critical importance to the OrthoLogic portfolio of product candidates. Their broad-ranging experience includes vascular endothelial biology, nitric oxide and cellular regulation, molecular signaling and clinically-directed development that will help OrthoLogic advance the fundamental science behind both TP508 and AZX100 along the most promising pathways toward commercialization."
Michael E. Mendelsohn, M.D., F.A.C.C., is the Executive Director of the Molecular Cardiology Research Institute at New England Medical Center and the first recipient of the Elisa Kent Mendelsohn Professorship of Molecular Cardiology and Medicine at Tufts University School of Medicine . Dr. Mendelsohn is also the Vice-Chairman for Scientific Affairs of the Department of Medicine and Chairman of the Research Executive Committee for Tufts-New England Medical Center . Dr. Mendelsohn is an international leader in the study of molecular vascular biology. As a physician-scientist, Dr. Mendelsohn has focused on signal transduction pathways regulating vascular tone and function. His laboratory has contributed importantly to deciphering the mechanisms of action of endogenous vascular protective molecules, including estrogen/estrogen receptors and nitric oxide/cyclic GMP signaling pathways in cardiovascular physiology and disease. Dr. Mendelsohn joined the Cardiology Division at Tufts-New England Medical Center in 1993 as the Director of the Molecular Cardiology Research Center and an Associate Professor of Medicine, Tufts University School of Medicine . Dr. Mendelsohn received his B.A. magna cum laude from Amherst College in 1978 and his M.D. from Harvard Medical School in 1982, followed by residency in Internal Medicine and fellowship in Cardiovascular Medicine at Brigham and Women's Hospital. He was a member of the staff of the BWH Cardiology Division from 1988-1993 and an Assistant Professor of Medicine at Harvard Medical School . Dr. Mendelsohn's laboratory is funded principally by the National Institutes of Health . He has been the Principal Investigator on numerous NIH awards, including a Specialized Center of Research in Ischemic Heart Disease and a Program Project Grant studying molecular mechanisms of vascular relaxation. He is the recipient of an Established Investigatorship from the American Heart Association , the Sir William Osler Young Investigator Award of the Interurban Clinical Club, and both the Distinguished Faculty Award and the Milton O. and Natalie V. Zucker Faculty Award for Outstanding Research from Tufts University School of Medicine . Dr. Mendelsohn was an Invited Speaker at the Nobel Symposium, "Estrogen and Women's Health" in Karlskoga, Sweden in 1999 and the Chairman of the Experimental Cardiovascular Sciences Study Section of the NIH from 2000-2002, and is an Invited Speaker to the 2008 Nobel Conference, "Recent Advances in Understanding Estrogen Signaling" in Stockholm, Sweden . Dr. Mendelsohn's awards also include election to the American Society of Clinical Investigation (ASCI), the Association of University Cardiologists (AUC) and the Association of American Physicians (AAP).
Charles A. Dinarello, M.D. is a Professor of Medicine at the University of Colorado School of Medicine in Denver . Until 1996, he was Professor of Medicine and Pediatrics at Tufts University School of Medicine and a staff physician at the New England Medical Center Hospital in Boston . Dr. Dinarello received his medical degree from Yale University and his clinical training at the Massachusetts General Hospital . From 1971 to 1974 he was a clinical associate and from 1975 to 1977 a senior investigator at the National Institutes of Health in Bethesda. Dr. Dinarello has published over 500 original research articles on cytokines, particularly Interleukin-1 and Tumor Necrosis Factor. The Institute for Scientific Information listed him as the world's fourth most cited scientist (all science) for the 20 years (1983-2003). He was elected to the United States National Academy of Sciences in 1998 and is currently a member of the editorial board of Proceedings of the National Academy of Sciences . Dr. Dinarello has trained over 40 investigators, many of whom are recognized experts in their fields. He has served on the Board of Scientific Advisors of the National Institutes of Allergy and Infectious Diseases and is currently on the Board of Advisors of the Alliance for Lupus Research . He was Vice President of the American Society of Clinical Investigation (1989-1990) and President of the International Cytokine Society (1995-1996). The recipient of multiple prestigious awards for his contributions to the field of infectious diseases and cytokines, he received Germany's Ernst Jung Prize in Medicine in 1993. He donated the entire prize money ( $125,000 ) to universities and research institutes in the United States and Israel , and established the Sheldon M. Wolff Professorship at Tufts University to honor his late mentor. In 1996, he received the Ludwig Heilmeyer Gold Medal of the Society for Internal Medicine ( Germany , Austria , and Switzerland ) for his contributions to progress in internal medicine. He is also the recipient of the Chirone International Prize from the Italian Academy of Medicine . Dr. Dinarello has received honorary doctorates from the University of Marseille (France), Weizmann Institute of Science ( Israel ) and University of Frankfurt (Germany). In 2006, he received the Sheikh Hamdan Bin Rashid Al-Maktoum Award for Medical Research Excellence ( United Arab Emirates ).
About OrthoLogic
OrthoLogic is a biotechnology company committed to developing a pipeline of novel therapeutic peptides and other molecules aimed at helping patients with under-served medical conditions. The Company is focused on the development and commercialization of two product platforms: Chrysalin(r) (TP508) and AZX100.
Chrysalin, the Company's novel synthetic 23-amino acid peptide, is being studied in several indications including fracture repair, diabetic foot ulcer healing and other disorders that may involve vascular endothelial dysfunction. The Company owns exclusive worldwide rights to Chrysalin.
AZX100 is a novel synthetic pre-clinical 24-amino acid peptide, one of a new class of compounds in the field of smooth muscle relaxation and fibrosis. AZX100 is currently being evaluated for commercially significant medical applications such as the treatment of pulmonary disease, the prevention of hypertrophic and keloid scarring and intimal hyperplasia. OrthoLogic has an exclusive worldwide license to AZX100.
OrthoLogic's corporate headquarters are in Tempe, Arizona . For more information, please visit the Company's Web site: www.orthologic.com.
Statements in this press release or otherwise attributable to OrthoLogic regarding our business that are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which include the timing and acceptability of FDA filings and the efficacy and marketability of potential products, involve risks and uncertainties that could cause actual results to differ materially from predicted results. These risks include: delays in obtaining or inability to obtain FDA, institutional review board or other regulatory approvals of pre-clinical or clinical testing; unfavorable outcomes in our pre-clinical and clinical testing; the development by others of competing technologies and therapeutics that may have greater efficacy or lower cost; delays in obtaining or inability to obtain FDA or other necessary regulatory approval of our products; our inability to successfully and cost effectively develop or outsource manufacturing and marketing of any products we are able to bring to market; changes in FDA or other regulations that affect our ability to obtain regulatory approval of our products, increase our manufacturing costs or limit our ability to market our products; our possible need for additional capital in the future to fund the continued development of our product candidates; and other factors discussed in our Form 10-K for the fiscal year ended December 31, 2006 , and other documents we file with the Securities and Exchange Commission .
Editors' Note: This press release is also available under the Investors section of the Company's Web site at: www.orthologic.com.
CONTACT: OrthoLogic Corp.
Investor Relations:
Karen Struck
(602) 286-5250
kstruck@olgc.com
XOMA 2.10 XOMA to Present At Canaccord Adams Global Growth Conference On August 9, 2007 PrimeNewswire "PrimeNewswire "
BERKELEY, Calif., Aug. 2, 2007 (PRIME NEWSWIRE) -- XOMA Ltd. (Nasdaq:XOMA) announced today that David Boyle, XOMA's Chief Financial Officer, is scheduled to present at the Canaccord Adams Global Growth Conference on Thursday, August 9 at 8:30 a.m. eastern time at the InterContinental Boston.
An audio webcast of the presentation will be available live on the XOMA website at http://investors.xoma.com/events.cfm. An archived version of the webcast will be available for 90 days following the presentation.
About XOMA
XOMA is a leader in the discovery, development and manufacture of therapeutic antibodies, with a therapeutic focus that includes cancer and immune diseases. XOMA has royalty interests in RAPTIVA(r) (efalizumab), a monoclonal antibody product marketed worldwide (by Genentech, Inc. and Serono, SA ) to treat moderate-to-severe plaque psoriasis, and LUCENTIS(tm) (ranibizumab injection), a monoclonal antibody product marketed worldwide (by Genentech and Novartis AG ) to treat neovascular (wet) age-related macular degeneration.
The company has built a premier antibody discovery and development platform that includes access to seven of the leading commercially available antibody phage display libraries and XOMA's proprietary Human Engineering(tm) and bacterial cell expression (BCE) technologies. More than 45 companies have signed BCE licenses. XOMA's development collaborators include Lexicon Genetics, Inc. , Novartis, Schering-Plough Corporation (NYSE:SGP) and Takeda Pharmaceutical Company Limited . With a fully integrated product development infrastructure, XOMA's product development capabilities extend from preclinical sciences to product launch. For more information, please visit the company's website at www.xoma.com.
Certain statements contained herein concerning current collaborations and product development, or that otherwise relate to future periods are 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 assumptions that may not prove accurate. Actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry and for companies engaged in the development of new products in a regulated market. These risks, including those related to the results of discovery research and preclinical testing; the timing or results of pending and future clinical trials (including the design and progress of clinical trials; safety and efficacy of the products being tested; action, inaction or delay by the FDA, European or other regulators or their advisory bodies; and analysis or interpretation by, or submission to, these entities or others of scientific data); uncertainties regarding the status of biotechnology patents; uncertainties as to the cost of protecting intellectual property; changes in the status of the existing collaborative and licensing relationships; the ability of collaborators, licensees and other third parties to meet their obligations; market demand for products; scale up and marketing capabilities; competition; international operations; share price volatility; XOMA's financing needs and opportunities and risks associated with XOMA's status as a Bermuda company, are described in more detail in XOMA's most recent annual report on Form 10-K and in other SEC filings. Consider such risks carefully in considering XOMA's prospects.
CONTACT: XOMA Ltd.
Investor Relations and Corporate Communications
Greg Mann
510-204-7200
mann@xoma.com
www.xoma.com
ADLS 1.46 Advanced Life Sciences Announces Formation of National Advisory Board for Cethromycin PR Newswire "US Press Releases "
CHICAGO , Aug. 2 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS), today announced the formation of its National Advisory Board for Cethromycin, consisting of ten well-known experts in community acquired pneumonia, other respiratory-tract infections, and antibiotic therapies. The company has appointed the following to this Board: Dr. Antonio Anzueto, Dr. Naga Chalasani, Dr. Nathan Dean, Dr. Thomas File Jr., Dr. Paul Iannini, Dr. Donald Low, Dr. Lionel Mandell, Dr. Mark Metersky, Dr. Michael Niederman and Dr. Richard Wunderink. These experts will provide guidance concerning Cethromycin's ongoing development and regulatory strategy and execution, as well as advise on the drug's possible future value in clinical practice.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050428/CGTH039LOGO)
"We are pleased to be working with thought leaders who bring with them the highest level of expertise in the areas of infectious disease, pulmonary, nephrology, microbiology and antibiotic research as part of our Advisory Board for Cethromycin," said Dr. Michael Flavin, chief executive officer for Advanced Life Sciences. "The unparalleled experience of this group will assist us as we bring this important new antibiotic through the regulatory and NDA submission process and toward the market."
"Despite the continuing emergence of antimicrobial resistance in important respiratory pathogens, such as the pneumococci, over the last decade we have seen fewer and fewer new agents that effectively address this challenge" said Dr. Low. "Cethromycin, a new antimicrobial drug in the ketolide class, may be the solution to this important public health problem, as it has demonstrated a broad spectrum of antibacterial activity and minimal pneumococcal resistance has been observed with this antibiotic class. It is my privilege to participate as a member of the National Advisory Board for Cethromycin."
Members of the National Advisory Board for Cethromycin are as follows:
Dr. Antonio Anzueto
Antonio R. Anzueto, MD is a Professor of Medicine/Pulmonary Medicine - Critical Care at the University of Texas Health Science Center at San Antonio ; Chief of the Pulmonary Section, Medical Director and Director of the Pulmonary Function Lab , Director of the Pulmonary Service Spinal Cord Unit, Medical Director of the Respiratory Therapy Department and the Bronchoscopy Laboratory , and a staff physician in the South Texas Veterans Health Care System Audie L. Murphy Memorial Veterans Hospital Division.
Dr. Anzueto has taught numerous courses on pneumonia, nosocomial pneumonia, bloodborne pathogens, and the influence of gene polymorphisms on antibiotic use. He has also conducted and is currently participating in research studies in the areas of respiratory infections (community-acquired pneumonia, acute exacerbations of chronic bronchitis, acute respiratory distress syndrome, chronic obstructive pulmonary disease), mechanical ventilation, and septic shock. Dr. Anzueto has also been the invited speaker to numerous medical meetings and has authored over 260 abstracts, 31 book chapters, and 180 articles on topics relating to these areas.
Dr. Naga Chalasani
Naga P. Chalasani, MD, FACG is currently Associate Professor of Medicine and is the Director of the Division of Gastroenterology and Hepatology in the Department of Medicine at Indiana University School of Medicine in Indianapolis, Indiana .
Dr. Chalasani is currently a fellow and member of the Clinical Research Committee of the American College of Gastroenterology , Chair of the Abstract Review Committee and a member of the Clinical Research Committee for the American Association for the Study of Liver Diseases (AASLD). He is also a member of the American Gastroenterology Association , American Society for Gastrointestinal Endoscopy , and the Central Society for Clinical Research . He is on the editorial boards of 6 medical journals, including Gastroenterology, Hepatology, and the American Journal of Medicine . He is an ad hoc reviewer of 12 medical journals. Dr. Chalasani established an adult liver transplant program at Indiana University Medical Center , and has chaired multiple scientific sessions at the annual meetings for Digestive Disease Week (DDW) and AASLD for the past 7 years. He has written several editorials in various gastroenterology, hepatology, and liver transplant journals. He has published nearly 100 peer-reviewed papers in biomedical journals and has multiple NIH grants to conduct investigations related to fatty liver disease and drug hepatotoxicity.
Dr. Nathan Dean
Nathan C. Dean, MD is Section Chief of Pulmonary, Critical Care and Sleep Medicine at LDS Hospital and Adjunct Professor of Medicine at the University of Utah School of Medicine . For the past 10 years, he has been the Chair of Intermountain Health Care Lower Respiratory Tract Infection Team in Salt Lake City . He is also the Medical Advisor for the Alta Ski Patrol in Salt Lake City .
For the past 5 years, Dr. Dean has been an investigator for several studies, including a grant project studying emergency department pneumonia patients, the VALID Study on the role of recombinant protein C-surfactant in community-acquired pneumonia (CAP), and the CAPTIVATE Study on the role of tifacogin as adjunctive therapy for CAP. In addition, for the past 25 years he has been a medicine ward attending physician at LDS Hospital and taught several courses on CAP. Dr. Dean has authored over 35 publications, editorials, abstracts, review articles and 2 book chapters. He has been an invited lecturer at numerous international, and local and regional medical meetings for the American Thoracic Society and the International Society of Chemotherapy on CAP guidelines and practice updates.
Dr. Thomas File Jr.
Thomas M. File Jr., MD, MS is Chief of the Infectious Disease Service and Director of HIV Research at Summa Health System in Akron, Ohio , and Professor of Internal Medicine, Master Teacher, and Head of the Infectious Disease Section at the Northeastern Ohio Universities College of Medicine in Rootstown. He is currently Chairperson of the Standards and Practice Guidelines Committee of the Infectious Diseases Society of America (IDSA).
Primary research interests that Dr. File has pursued include community-acquired respiratory tract infections, bacterial resistance in respiratory infections, infections in patients with diabetes, and evaluation of new antimicrobial agents. A frequent lecturer both nationally and internationally, Dr. File has published more than 200 articles, abstracts, and textbook chapters, focusing on the diagnosis, etiology, and treatment of infectious diseases, especially on respiratory tract infections. He recently co-edited the book Community-Acquired Respiratory Infections. In addition, he currently serves on the editorial boards of Journal of Respiratory Disease and Infectious Disease News and is editor-in-chief of Infectious Diseases in Clinical Practice.
Dr. Paul Iannini
Paul B. Iannini, MD, is Chairman of the Department of Medicine and Executive Director of Medical Services for WellSpan Healthcare at York Hospital in York, Pennsylvania . He is also Clinical Professor of Medicine at Yale University School of Medicine in New Haven, Connecticut .
Dr. Iannini's primary research interest is in infectious diseases. A frequent lecturer and presenter at conferences both nationally and internationally, Dr. Iannini has been an invited speaker at numerous Infectious Disease Society of America (IDSA) annual meetings, and he has authored more than 100 journal articles as well as 5 books on various infectious disease topics and 2 monographs on community-acquired respiratory infections. Dr. Iannini is a scientific reviewer for The American Journal of the Medical Sciences , Clinical Infectious Diseases, and Clinical Pharmacology and Therapeutics. He is an editorial board member and a correspondence editor of Expert Opinion on Drug Safety.
Dr. Donald Low
Donald E. Low, MD, FRCPSC is currently Head the Division of Microbiology, Department of Laboratory Medicine and Pathobiology at the University of Toronto in Toronto, Ontario . He is also Chief of University Health Network and Mount Sinai Hospital Department of Microbiology , as well as Professor for the Departments of Microbiology and Medicine at the University of Toronto . In addition, Dr. Low is Medical Director of the Public Health Laboratories for the Ontario Ministry of Health and Long-Term Care .
Dr. Low is a prolific writer in the areas of infectious diseases, chemotherapy, and microbiology, and has authored hundreds of publications including 37 book chapters, over 300 peer-reviewed publications, and numerous editorials, letters, and invited articles. Dr. Low is a reviewer for 7 granting agencies in Canada and is on the editorial boards of the Journal of Antimicrobial Chemotherapy , Antimicrobial Agents & Chemotherapy, and Canadian Journal of Infectious Diseases , and a member of the editorial advisory board of the Journal of Infectious Diseases . He is a reviewer for numerous journals including the New England Journal of Medicine and Clinical Infectious Disease . Dr. Low is past president of the Canadian Infectious Disease Society and is a member of the American Association of Physicians .
Dr. Lionel Mandell
Lionel Ari Mandell, MD, FRCP is currently Professor of Medicine at McMaster University in Hamilton, Ontario . Dr. Mandell also serves on the Canadian Scientific Advisory Committee on Anti-Infective Therapies and is Co-Chair of the Joint Committee on Community-Acquired Pneumonia (CAP) for the American Thoracic Society and the Infectious Diseases Society of America (IDSA).
Over the past 30 years, Dr. Mandell has served as co-chair of numerous CAP conferences and from 2000 to 2005, he served on the Practice Guidelines Committee for the IDSA. He has also been on many expert advisory boards for anti-infectives, chemotherapy, respiratory infections, microbial strategies, and antimicrobial utilization. From 1996 to 2000, Dr. Mandell was the President of the Canadian Foundation for Infectious Diseases. He currently serves on the editorial boards for Pulmonary Infectious Diseases, Clinical Microbiology and Infection, Clinical Infectious Diseases, Infectious Disease in Clinical Practice, and Annals of Clinical Microbiology and Antimicrobials. He has previously served on the editorial boards for 10 other medical journals. He is also the referee for 18 medical journals, including Annals of Internal Medicine, Chest, JAMA, and Journal of Infectious Diseases . Dr. Mandell is currently an external grant reviewer for the Swiss National Scientific Foundation , Canadian Institute for Health Research , and Ontario Ministry of Health . He has written 33 books or book chapters, and published over 182 papers and 140 abstracts. He has been an invited speaker or chairman of many medical meetings on various topics, including infectious diseases, respiratory, nosocomial, pelvic, and fungal infections, oncology/chemotherapy, and antimicrobial therapy, guidelines, and resistance.
Dr. Mark Metersky
Mark Lewis Metersky, MD, is Associate Director of the Pulmonary Hypertension Center at the University of Connecticut Health Center in Farmington. He also serves as Professor of Clinical Medicine, Director of Pulmonary/Critical Care Fellowship Program, and attending physician for the Pulmonary Division and Critical Care Service at the University of Connecticut School of Medicine in Farmington. Since 1991 Dr. Metersky has served continuously as an educator through various academic appointments.
Dr. Metersky's principal area of scientific inquiry is infectious disease, and he has been a frequent speaker and presenter both nationally and internationally as well as an investigator for clinical research studies. He has authored nearly 100 publications, abstracts, and presentations as well as 3 books on various facets of infectious disease. He serves on the editorial boards of Journal of Bronchology and Chest , and is a reviewer for 11 journals including Chest, Archives of Internal Medicine, and Clinical Microbiology and Infection.
Dr. Michael Niederman
Michael S. Niederman MD, FACP, FCCP, FCCM is Professor of Medicine and Vice-Chairman of the Department of Medicine at the State University of New York at Stony Brook. He is also Chairman of the Department of Medicine at Winthrop-University Hospital in Mineola, New York .
Dr. Niederman's interests have included mechanisms of airway colonization, particularly the role of bacterial adherence in colonization of the airway of mechanically ventilated patients. He has also participated in a variety of clinical research projects, including antibiotic trials for respiratory infections. He has served as the Chairman of the American Thoracic Society Assembly on Microbiology, Tuberculosis, and Pulmonary Infections, and he was the Chairman of the 1993 American Thoracic Society's Consensus Statement on Community-Acquired Pneumonia (CAP), and Co-Chairman of the 2001 Consensus Statement Committee on Community-Acquired Pneumonia. In addition, Dr. Niederman has had a long-standing interest in nosocomial pneumonia and served as the Co-Chairman of the 1996 ATS Committee that wrote the guidelines for the treatment of nosocomial pneumonia. He was also Co-Chairman of the ATS/IDSA Guideline Committee that published guidelines for hospital acquired pneumonia in 2005 and he was a member of the ATS/IDSA Consensus Panel that published CAP guidelines in 2007. Dr. Niederman has authored over 300 peer-reviewed or review articles on respiratory infections. He is also a Co-Editor of the first and second editions of the textbook, Respiratory Infections: A Scientific Basis for Management, as well as, Editor-in-Chief of Clinical Pulmonary Medicine. He serves or has served on the editorial boards of the American Journal of Respiratory and Critical Care Medicine , Critical Care Medicine, and Chest, and is a reviewer for various other publications. Dr. Niederman has lectured nationally and internationally and has an ongoing interest in the impact of antibiotic resistance on the management and outcomes of respiratory infections.
Dr. Richard Wunderink
Richard Glenn Wunderink, MD is currently Professor of Medicine, Division of Pulmonary and Critical Care Medicine and a faculty member of the Center for Genetic Medicine at Northwestern University Feinberg School of Medicine in Chicago, Illinois . He holds hospital appointments at the Veterans Affairs Chicago Healthcare System as well as at Northwestern Memorial Hospital where he is also the Director of the Medical Intensive Care Unit.
Dr. Wunderink has served as Co-Chairman of the recently published American Thoracic Society (ATS) and the Infectious Diseases Society of America (IDSA) Consensus Guidelines Committee for Community-Acquired Pneumonia , the Community-Acquired Pneumonia (CAP) Advisory Panel of the Centers for Medicare/Medicaid Services for 2 years, the Bioterrorism Committee on Pandemic Influenza Workgroup for the Illinois Department of Public Health , and the National Institutes of Health Acute Lung Injury SCCOR Data Safety Monitoring Board . He is prolific in his field and is a member of the Editorial Board of the Proceedings of the ATS, and a reviewer for 13 medical journals, including Chest, American Journal of Medicine , and Clinical Infectious Disease. He has authored over 100 publications, editorials and reviews, letters, and abstracts as well as 14 books or book chapters on the topics of respiratory infections, infectious diseases, pulmonary and critical care, and immunology. He has been an invited speaker to many recent annual meetings for the ATS, IDSA, and the International Society of Chemotherapy on the issues of sepsis, CAP, and ventilator-associated pneumonia.
About Community Acquired Pneumonia (CAP)
CAP is the sixth most common cause of death in the United States . CAP and other respiratory tract infections are caused by pathogens such as Streptococcus pneumoniae and Haemophilus influenzae. CAP affects 5-6 million patients in the United States each year, with 10 million physician visits and 2 million hospitalizations occurring annually.
Macrolides and penicillins are currently the first-line treatments for respiratory tract infections such as CAP. As macrolide and penicillin resistance grows and has the potential to cause more clinical failures, there is a need for new antibiotics with unique mechanisms of action which can overcome this emerging resistance.
About Cethromycin
Cethromycin has shown higher in vitro potency and a broader range of activity than macrolides against Gram-positive bacteria associated with respiratory tract infections, and, again in in vitro tests, it appears to be effective against penicillin - and macrolide-resistant bacteria. Cethromycin has a mechanism of action that may slow the onset of future bacterial resistance. In addition to its utility in CAP, Cethromycin has also been shown to be effective in animal studies for the prophylactic treatment of inhalation anthrax post exposure. The FDA has designated Cethromycin as an orphan drug for the prophylactic treatment of inhalation anthrax post exposure, but the FDA has not yet approved the drug for marketing in this or any other indication.
About Advanced Life Sciences
Advanced Life Sciences is a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and inflammation. The Company's lead candidate, Cethromycin, is a novel once-a-day antibiotic in late-stage clinical development for the treatment of respiratory tract infections including CAP. For more information, please visit us on the web at http://www.advancedlifesciences.com.
Forward-Looking Statements
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, among others, those relating to technology and product development, clinical trials, market acceptance, government regulation and regulatory approval processes, intellectual property rights and litigation, dependence on collaborative relationships, ability to obtain financing, competitive products, industry trends and other risks identified in Advanced Life Sciences' filings with the Securities and Exchange Commission . Advanced Life Sciences undertakes no obligation to update or alter these forward-looking statements as a result of new information, future events or otherwise.
SOURCE Advanced Life Sciences Holdings, Inc.
OLGC 1.43 OrthoLogic to Host Conference Call Discussing Second Quarter 2007 Results PrimeNewswire "PrimeNewswire "
TEMPE, Ariz., Aug. 2, 2007 (PRIME NEWSWIRE) -- OrthoLogic Corp. (Nasdaq:OLGC) announced today that it will release financial and operating results for the second quarter ending June 30, 2007 , on Wednesday, August 8, 2007 .
Management will host a conference call and webcast the same day at 4:30 PM EDT ( 1:30 PM MST ). The call may be accessed at 800-565-5442 (domestic) or 913-312-1298 (international), or by logging onto the Investors section of the Company's website, www.orthologic.com.
A replay will be available beginning August 8, 2007 , at 7:30 PM EDT until August 11, 2007 , and may be accessed at 888-203-1112 (domestic) or 719-457-0820 (international), with access code 6353545.
About OrthoLogic
OrthoLogic is a biotechnology company committed to developing a pipeline of novel therapeutic peptides and other molecules aimed at helping patients with under-served medical conditions. The Company is focused on the development and commercialization of two product platforms: Chrysalin(r) (TP508) and AZX100.
Chrysalin, the Company's novel synthetic 23-amino acid peptide, is being studied in several indications including fracture repair, diabetic foot ulcer healing and other disorders that may involve vascular endothelial dysfunction. The Company owns exclusive worldwide rights to Chrysalin.
AZX100 is a novel synthetic pre-clinical 24-amino acid peptide, one of a new class of compounds in the field of smooth muscle relaxation and fibrosis. AZX100 is currently being evaluated for commercially significant medical applications such as the treatment of pulmonary disease, the prevention of hypertrophic and keloid scarring and intimal hyperplasia. OrthoLogic has an exclusive worldwide license to AZX100.
OrthoLogic's corporate headquarters are in Tempe, Arizona . For more information, please visit the Company's Web site: www.orthologic.com.
CONTACT: OrthoLogic
Karen Struck, Investor Relations
(602) 286-5250
kstruck@olgc.com
WSTM 1.15 Aspen Skiing Company Selects Workstream Mid-Market Solutions to Manage Employee Performance, Development and Succession Planning Business Wire "US Press Releases "
BURLINGAME, Calif.--(BUSINESS WIRE)--
Workstream Inc. (NASDAQ:WSTM), a leading provider of on-demand compensation, performance and talent management solutions, today announced that Aspen Skiing Company , a commercial enterprise that operates the Aspen/Snowmass resort complex, comprising four ski areas near the town of Aspen, has selected Workstream Professional mid-market solutions to manage performance, development and succession planning. Aspen Skiing Company employs 3,500 workers during its peak winter operating months. The combination of Workstream Professional solutions - which are delivered on-demand, tightly integrated, and designed specifically for mid-market companies - will allow Aspen Skiing Company to maximize the value of existing employees, while reducing hiring costs and turnover.
"This is a tremendous win for Workstream because it helps confirm our belief that mid-sized companies would prefer an integrated suite of talent management applications from one vendor, rather than single products from multiple vendors," said Deepak Gupta, President and CEO at Workstream. "Workstream is enabling mid-market businesses like Aspen Skiing Company to address the shortage of top-tier talent in the marketplace and compete with larger enterprises, by leveraging a suite of seamlessly integrated, low-cost, on-demand talent management solutions. We look forward to helping more mid-sized businesses create efficiencies, lower risk, and optimize their Return on Talent."
"A unified approach to talent management will allow us to get the most value from the people we have already, and determine appropriate development and succession paths so we can keep these employees happy and productive for a very long time," said Jim Laing, Vice President, Human Resources and Retail Operations at Aspen Skiing Company . "Despite the obvious benefits of living and working in Aspen, finding and recruiting top talent is a constant challenge and extremely expensive. We can be far more successful by investing in the people we have, which is what we are doing with Workstream. Workstream will allow us to grow our best people and the company at the same time, and that's a formula for success."
Aspen Skiing Company selected Workstream for multiple reasons, including the depth of its Professional series solutions. Aspen Skiing Company will never have to switch to different Workstream products, regardless of how fast or big it grows, since Workstream Professional solutions have all the functionality of its enterprise systems, only with a different configuration. As Aspen Skiing Company matures, adding new functionality will be as simple as asking Workstream to "turn it on" the existing system.
Aspen Skiing Company also preferred Workstream for the tightly integrated nature of its applications. Because Workstream offers a complete talent management suite, with systems that automate processes from "hire through retire," Aspen Skiing Company will never have to engage with another vendor. Finally, Aspen Skiing Company chose Workstream because its solutions are delivered on-demand, which ensures Aspen Skiing Company can be up-and-running with Workstream quickly and easily, at a low cost, and without the need for sophisticated technical support in-house.
The Workstream Professional series today includes performance management, development, succession planning and recruiting applications, as well as highly trained professional services to quickly implement the solutions. Key highlights of the applications include:
-- Workstream Development Professional provides the most
comprehensive employee development solutions available for
mid-sized businesses, with key features that include:
Workstream's complete Competency Dictionary, with over 9,000
competences and over 400 job and role profiles; integrated
development planning; and a complete set of manager coaching
tips and on-the-job development steps.
-- Workstream Performance Professional is the most complete and
configurable performance management solution on the market.
Key features include a best-practices performance appraisal
with goal management, job responsibilities, competencies, an
integrated link to the employee's development plan,
employee-manager comparison view, and a sign-off and
submission process. Workstream Performance Professional
customers also gain access to the complete Workstream
Competency Library to reduce start-up times and speed
time-to-value.
-- Workstream Succession Planning Professional enables businesses
to develop a leadership plan for today and tomorrow. In one
place, management can easily develop a succession plan, view
bench strength across the plan, and see the strongest
performers to fill future leadership positions. Finally,
powerful analytics within the solution let management and
Human Resources maintain and update the plan so that the
company is always assured of having strong leadership.
About Aspen Skiing Company
Aspen Skiing Company operates the four mountains in the Aspen/Snowmass area - Snowmass, Aspen Mountain, Aspen Highlands and Buttermilk - as well as the award-winning Ski & Snowboard Schools of Aspen/Snowmass. The area offers unparalleled nightlife and off-slope activities as well. Aspen/Snowmass is accessible by two of the most convenient airports in the mountains - Aspen/Pitkin County Airport (ASE) (3 miles from Aspen) and Eagle County Airport (EGE) (70 miles from Aspen). For more information on Aspen Skiing Company , please call 800-525-6200 or 970-925-1220, or visit the company's website at www.aspensnowmass.com.
About Workstream
Workstream provides on-demand compensation, performance and talent management solutions and services that help companies manage the entire employee lifecycle - from recruitment to retirement. Workstream's TalentCenter provides a unified view of all Workstream products and services including Recruitment, Performance, Compensation, Development and Transition. Access to TalentCenter is offered on a monthly subscription basis under an on-demand software delivery model to help companies build high performing workforces, while controlling costs. With offices across North America , Workstream services customers including Chevron, The Gap, Home Depot, Kaiser Permanente, Motorola, Nordstrom, VISA and Wells Fargo. For more information visit www.workstreaminc.com or call toll free 1-866-470-WORK.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Workstream's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: inability to grow our client base and revenue because of the number of competitors and the variety of sources of competition we face; client attrition; inability to offer services that are superior and cost effective when compared to the services being offered by our competitors; inability to further identify, develop and achieve success for new products, services and technologies; increased competition and its effect on pricing, spending, third-party relationships and revenues; as well as the inability to enter into successful strategic relationships and other risks detailed from time to time in filings with the Securities and Exchange Commission .
Source: Workstream Inc.
SUMRW .73 Summer Infant, Inc. Announces Second Quarter 2007 Earnings Conference Call Business Wire "US Press Releases "
WOONSOCKET, R.I.--(BUSINESS WIRE)--
Summer Infant, Inc. ("Company")(Nasdaq: SUMR, SUMRU, SUMRW), today announced that it will host a conference call to discuss financial results for its second quarter ended June 30, 2007 on Thursday August 9, 2007 at 4:30 p.m. Eastern Time . Summer Infant will announce its financial results for this period in a press release after the market close on Thursday August 9, 2007 .
This call is being webcast and can be accessed by visiting the Investor section of our website at www.summerinfant.com. Investors may also listen to the call via telephone by dialing (913) 981-5584 (pass code 3415134). In addition, a telephone replay will be available by dialing (719) 457-0820 (pass code 3415134) through August 23, 2007 , at 11:59 p.m. Eastern Time .
About Summer Infant, Inc.
Based in Woonsocket, Rhode Island , the Company is a designer, marketer and distributor of branded durable juvenile health, safety and wellness products (for ages 0-3 years), which are sold principally to large U.S. retailers. The Company currently sells proprietary products in a number of different categories, including nursery audio/video monitors, safety gates, durable bath products, bed rails, infant thermometers and related health and safety products, booster and potty seats, soft goods, bouncers, strollers, highchairs and swings.
Forward Looking Statements
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Readers are urged to read the Company's Exchange Act reports and other filings made with the Securities and Exchange Commission for a discussion of such risks and other important information.
Source: Summer Infant, Inc.
ALTI 3.51 Altair Nanotechnologies Announces Second Quarter 2007 Financial Results Conference Call Business Wire "US Press Releases "
RENO, Nev .--(BUSINESS WIRE)--
Altair Nanotechnologies Inc. (Nasdaq: ALTI) announces that it will hold a conference call to discuss financial results for the second quarter ended June 30, 2007 . The call is scheduled for Thursday, Aug. 9, 2007 at 11:00 a.m. Eastern Daylight Time (EDT). Shareholders and members of the investment community are invited to participate in the conference call.
The conference call dial-in number for both U.S. and international callers is (719) 234-0008. Please dial in to the conference five minutes before the call is scheduled to begin. Ask the operator for the Altair Nanotechnologies call.
An audio replay of the conference call will be available from 2:00 p.m. through 11:59 p.m. EDT , Aug. 16, 2007 . It can be accessed by dialing (719) 457-0820 and entering conference number 9784853.
Additionally, the conference call and replay are available online, and can be accessed by visiting Altair Nanotechnologies' web site, www.altairnano.com.
ABOUT ALTAIR NANOTECHNOLOGIES INC.
Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. Altairnano's leading edge scientists are complemented by a seasoned management team with substantial experience in commercializing innovative, disruptive technologies. The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP pigment process. For more information visit: www.altairnano.com.
Source: Altair Nanotechnologies Inc.
SIRI 3.00 Former Attorney General represents troubled firm in probe [The Virginian-Pilot, Norfolk, Va.] Knight Ridder/Tribune "Business News "
Aug. 2 --Former Attorney General Jerry W. Kilgore has returned to his old office to represent a Chesapeake company accused of failing to deliver computers as promised to thousands of consumers who paid for them.
Financing Alternatives Inc. has been a longtime client of law firm Williams Mullen, said Kilgore, who rejoined the firm's Richmond office after his unsuccessful bid for governor in 2005. He and his former chief counsel, Christopher Nolen, have assisted FAI as it dealt with Attorney General Bob McDonnell's investigation of the company, which led to a lawsuit last week charging it with violations of state consumer protection laws.
Kilgore said he has spent a little time on the FAI case, with Nolen handling the bulk of it. "I have helped them some," Kilgore said of FAI, "but I am not the one doing the day-to-day work."
The attorney general's staff, Kilgore said, has dealt with him the same way it would any attorney representing a company under scrutiny there.
"I don't expect any special treatment," he said. "I get the same glass of water that every other attorney gets in the attorney general's office."
In Virginia , no rule nor time limitation bars a former attorney general, or one of his assistants, from representing a client before his old agency. On the federal level, a one-year "cooling off" period applies to Justice Department senior employees and a two-year restriction for some supervisory officials.
The Virginia conflict-of-interest law does prohibit state office holders from lobbying their former colleagues for one year after they leave office. The rules apply to lobbying activities that require state registration, which wouldn't include legal representation, said Jonathan Young, the state's conflict of interest director.
The former attorney general is not registered in the state as a lobbyist, according to data from the Virginia Public Access Project.
Kilgore said he nonetheless adhered to that rule by taking no cases that involved the attorney general's office for the first year after leaving his position there. Companies have sought him for those cases, he said, not because of his influence but because of his expertise in the procedures of that office and those of other states' attorneys general.
"While Mr. Kilgore is known and respected for his prior service to the Commonwealth, he is subject to the same ethical limitations and treated with the same professionalism shown to any other attorney in private practice with clients who may have interests adverse to the Commonwealth," David Clementson, a spokesman for the attorney general's office, wrote in an e-mailed response to questions.
Financing Alternatives, based in a small shopping strip on Cedar Road in Chesapeake, sells computers to consumers with poor credit by withdrawing weekly or biweekly payments from their bank accounts for a year. The attorney general's lawsuit, filed July 23 in Chesapeake Circuit Court, asserts that the company misled thousands who did not receive their products within the given time frame and sometimes paid in full without getting their orders.
Kilgore and Nolen represented FAI in discussions with the attorney general's office during its investigation. They assisted the company in providing information to the agency and negotiating a potential settlement, though they were unable to come to terms before the filing of the lawsuit.
Kilgore, a Republican, served as attorney general from 2002 to 2005, when he left to campaign for governor, losing to Democrat Timothy M. Kaine. When he resumed his partnership with Williams Mullen, where he had worked before serving as attorney general, Kilgore started a new practice representing businesses that face regulatory problems in multiple states.
About 95 percent of his work takes him to other states, including Texas , California and New York , he said. Kilgore also recently lobbied the Federal Communications Commission on behalf of the National Association of Broadcasters to oppose the proposed merger of XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. , whose combination would create a large rival to radio conglomerates.
The Center for Public Integrity , a nonprofit organization that focuses on issues of public concern, has reported Kilgore's ties with FCC Commissioner Robert McDowell, a Republican whose 2003 campaign for a seat in the Virginia House of Delegates received a $12,500 donation from Kilgore's candidate committee.
McDowell also hosted a fundraising event for Kilgore's gubernatorial race in October 2005 , the center reported.
Carolyn Shapiro, (757) 446-2270, carolyn.shapiro@pilotonline.com
To see more of the The Virginian-Pilot, or to subscribe to the newspaper, go to http://www.pilotonline.com.
Copyright (c) 2007, The Virginian-Pilot, Norfolk, Va.
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DANKY #2 ... .86 Danka Adds Canon's Advanced Digital Color Press to Its Production Color Print Product Line-Up Market Wire "US Press Releases "
ST. PETERSBURG, FL -- (MARKET WIRE) -- 08/02/07 -- Danka Business Systems PLC (NASDAQ: DANKY), one of the largest independent suppliers of office business solutions in the United States , announced today it has added the Canon imagePRESS C7000VP digital press to its production color print product line-up, reinforcing the Company's strong sector leadership.
"The Canon imagePRESS C7000VP provides customers with a flexible and cost-effective alternative to traditional offset options for short-run and production color applications," said Bill Troxil, President, Danka Business Systems Eastern Regional Business Unit. "Additionally, it offers a level of quality and reliability that is unique to the rapidly growing production color print marketplace. Coupled with Danka's advanced workflow solutions, highly-rated service and expert level customer support, the Canon imagePRESS C7000VP provides customers with an unparalleled tool to help seize market opportunities and increase revenues."
The Canon imagePRESS C7000VP features a consistent print speed of 70 pages per minute for letter-sized output in color. It rounds out Danka's other high-quality, cut-sheet production print monochrome offerings to fill out an unmatched product portfolio that delivers for every customer the right and best solution available in the industry. Danka's benchmark service team further completes the package by ensuring total customer satisfaction.
"Danka has a proven track record in the production print environment and is backed by an elite group of solutions specialists and systems engineers," said Ryoichi Bamba, Executive Vice President & General Manager, Canon U.S.A. Inc. "We are pleased about our strategic partnership and look forward to Danka's great success as a key distributor of the Canon imagePRESS7000VP."
Danka has undertaken extensive, organization-wide training on the new Canon imagePress C7000VP. Initial customer deliveries are scheduled for early August.
About Danka Business Systems PLC
Danka is one of the nation's largest independent providers of office systems solutions. For 30 years Danka has provided its customers with the equipment, supplies, software and integrated services and support they need to address their print, copy and document workflow requirements. Danka delivers these comprehensive document solutions through a consultative model designed to improve business processes, reduce costs and increase productivity that drives customer value and satisfaction. Danka services customers directly in 50 U.S. markets. For more information, visit www.danka.com.
Certain statements contained in this press release, including statements related to Danka's future business and financial performance, are forward-looking. Such statements reflect the current views of Danka with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date they are made.
Danka is a registered trademark and Danka @ the Desktop is a trademark of Danka Business Systems PLC. All other trademarks are the property of their respective owners.
Contacts:
Danka St. Petersburg
Cheley Howes
727-622-2760
The Dilenschneider Group
Robert E. Swadosh
212-922-0900 ext. 132
DCTH 4.05 eRx Collaborative Continues to Lead the Industry with More Than 10.8 Million Electronic Prescriptions Transmitted to date Business Wire "US Press Releases "
BOSTON --(BUSINESS WIRE)--
The eRx Collaborative today announced that during the first six months of 2007, more than 2.6 million electronic prescriptions were transmitted through the Collaborative. This brings the 3 1/2 year total of electronic prescriptions transmitted through Collaborative prescribers to 10.8 million. In addition, the eRx Collaborative deployed 296 new prescribers during the first half of the year, surpassing this year's annual goal of 200 new prescribers.
The opportunity to catch potentially harmful drug-drug interactions or drug-allergy interactions is a hallmark safety feature of electronic prescribing. As of June 31, 2007 , approximately 50,000 electronic prescriptions were changed due to drug safety alerts, 2.1 percent of the electronic prescriptions written.
In addition, the Commonwealth of Massachusetts this year earned the number one ranking at the second annual Safe-Rx Awards. The Safe-Rx Award is given annually by the nation's community pharmacies to the top 10 e-prescribing states in the nation and to three physicians in each winning state who have demonstrated outstanding leadership in their use of e-prescribing technology. Massachusetts ' first-place ranking this year represents a jump from its third-place finish last year.
"Patient safety, significant error reduction, efficiency, less data entry and less repetitive work for our staff are just a few of the benefits that electronic prescribing has brought to our practice," said Alberto Sobrado, M.D., of Merrimack Valley Physicians, one of the Safe-Rx Award winners in Massachusetts .
"Electronic prescribing is a low-risk and low-cost introduction to technology that will eventually be integral to electronic medical records, and I would recommend physicians consider Rcopia for their practice and their patients."
Lorenver Po, M.D from Holyoke agrees about the benefits of e-prescribing. "We have been using PocketScript by ZixCorp through the eRx Collaborative since 2005, and we have found that almost every part of the entire prescription process could be streamlined and improved with the use of e-prescribing. While our staff was excited about improving time management, they were also excited to see how e-prescribing cut down on confusion and eliminated errors that used to arise when paper prescriptions were illegibly written or contained abbreviations."
As a continued leader and industry advocate for e-prescribing technology, the Collaborative formed the MA eRx Steering Committee in 2005. This pioneering collaboration, which includes insurers, technology vendors, pharmacies and other organizations involved in the prescription process, has raised awareness of e-prescribing in the state, and is working together to increase adoption. Now facilitated by the MA Health Data Consortium and called the eRx Forum, the group is working to maximize eligibility checking, to explore the possibility of pre-adjudicating step therapy drugs through e-prescribing technology, and providing a Continuing Medical Education (CME) course.
"The eRx program demonstrates the power of collaboration and harnessing technology to improve the safety of medicine. Tufts Health Plan is proud to participate in the eRx Collaborative, as it brings together scientific evidence and information to support physicians and patients in the safe delivery of care," says Allen Hinkle, M.D., Senior Vice President and Chief Medical Officer at Tufts Health Plan.
"NHP is delighted and proud to complete another year as a participant in the eRx Collaborative. We hail the physicians who have embraced e-prescribing. We believe this not only rationalizes the medication prescribing and renewal process, but enhances its safety. Moreover we hope that these physicians' patients recognize and value that they are receiving a higher standard of clinical care in the process," said James Glauber, MD, MPH, Medical Director, Neighborhood Health Plan
"BCBSMA is committed to improving patient safety and healthcare quality in Massachusetts through the eRx Collaborative. Our patient safety study with Dana Farber Cancer Institute to evaluate e-prescribing's impact on quality, safety and affordability will be completed next year. We will continue to promote the adoption of e-prescribing by collaborating with other stakeholders in the state," said Steven Fox, Vice President of Provider Relations and Communications at BCBSMA.
Blue Cross Blue Shield of Massachusetts (BCBSMA), Tufts Health Plan and Neighborhood Health Plan (NHP) are members of the eRx Collaborative. The plans formed the Collaborative in 2003 to jumpstart the use of comprehensive e-prescribing technology in Massachusetts . The program offers physicians and other prescribing clinicians the ability to improve patient safety and increase healthcare affordability. The eRx Collaborative uses applications developed by Zix Corporation (PocketScript(R)) (NASD: ZIXI) and DrFirst (Rcopia(TM)).
e-prescribers are able to access enhanced information when prescribing for patients in participating plans, such as patient eligibility and formulary information. In addition, the program enables prescribers to:
-- Access patient-specific drug histories to determine the
patient's current and past prescriptions
-- Create new and renew prescriptions electronically
-- Send prescriptions for non-controlled substances directly to
the pharmacy via fax or by Electronic Data Interchange (EDI)
and/or print the prescription to paper
-- Receive renewal requests from the pharmacy electronically
-- Check for drug-drug and drug-allergy interactions
-- Access a drug reference guide
"ZixCorp's strong four-year partnership with the eRx Collaborative continues to deliver tremendous results in saving lives and saving money. The eRx Collaborative has once again demonstrated that e-prescribing has a significant impact on the quality of care provided, as seen in changed or canceled prescriptions following an alert to a potentially dangerous adverse drug event," said Rick Spurr, chief executive officer for ZixCorp. "The eRx Collaborative's pioneering payor-sponsorship model continues to serve as a successful blueprint for other e-prescribing programs across the country. With prescriber surveys showing that funding and administrative hassles are the primary obstacles to the broader use of e-prescribing, it is clear that a high-touch payor-sponsorship model can accelerate the widespread adoption of this life- and cost-saving technology."
"We believe e-prescribing is the biggest contributor to having a truly connected healthcare community," said G. Cameron Deemer, President of DrFirst. "The eRx Collaborative was one of the original founders for innovative statewide e-prescribing initiatives, and we are proud to have been part of the success of the program. Moreover, their willingness to jointly invest in their members' safety has paved the way for improved patient outcomes around the country."
The eRx Collaborative continue to sponsor new prescribers, and evaluate the best way to expand awareness and adoption of e-prescribing in Massachusetts for this year and beyond. The Collaborative views e-prescribing as a foundation to future practice technology and has seen evidence of this through prescribers who have left the program to implement electronic medical records with e-prescribing functionality. A fully electronic practice is one of the pathways to reach the ultimate goal for healthcare: to improve patient safety, quality and delivery.
About the eRx Collaborative
The eRx Collaborative was formed by Blue Cross Blue Shield of Massachusetts (BCBSMA), Tufts Health Plan and Neighborhood Health Plan (NHP) with technology partners DrFirst, Inc and Zix Corporation (ZixCorp(R)), (Nasdaq: ZIXI), to collaboratively promote and enable the use of electronic prescribing in Massachusetts to improve patient safety, health care affordability, quality and delivery. For more information, visit our website www.erxcollaborative.org
Source: The eRx Collaborative
ZIXI 2.04 eRx Collaborative Continues to Lead the Industry with More Than 10.8 Million Electronic Prescriptions Transmitted to date Business Wire "US Press Releases "
BOSTON --(BUSINESS WIRE)--
The eRx Collaborative today announced that during the first six months of 2007, more than 2.6 million electronic prescriptions were transmitted through the Collaborative. This brings the 3 1/2 year total of electronic prescriptions transmitted through Collaborative prescribers to 10.8 million. In addition, the eRx Collaborative deployed 296 new prescribers during the first half of the year, surpassing this year's annual goal of 200 new prescribers.
The opportunity to catch potentially harmful drug-drug interactions or drug-allergy interactions is a hallmark safety feature of electronic prescribing. As of June 31, 2007 , approximately 50,000 electronic prescriptions were changed due to drug safety alerts, 2.1 percent of the electronic prescriptions written.
In addition, the Commonwealth of Massachusetts this year earned the number one ranking at the second annual Safe-Rx Awards. The Safe-Rx Award is given annually by the nation's community pharmacies to the top 10 e-prescribing states in the nation and to three physicians in each winning state who have demonstrated outstanding leadership in their use of e-prescribing technology. Massachusetts ' first-place ranking this year represents a jump from its third-place finish last year.
"Patient safety, significant error reduction, efficiency, less data entry and less repetitive work for our staff are just a few of the benefits that electronic prescribing has brought to our practice," said Alberto Sobrado, M.D., of Merrimack Valley Physicians, one of the Safe-Rx Award winners in Massachusetts .
"Electronic prescribing is a low-risk and low-cost introduction to technology that will eventually be integral to electronic medical records, and I would recommend physicians consider Rcopia for their practice and their patients."
Lorenver Po, M.D from Holyoke agrees about the benefits of e-prescribing. "We have been using PocketScript by ZixCorp through the eRx Collaborative since 2005, and we have found that almost every part of the entire prescription process could be streamlined and improved with the use of e-prescribing. While our staff was excited about improving time management, they were also excited to see how e-prescribing cut down on confusion and eliminated errors that used to arise when paper prescriptions were illegibly written or contained abbreviations."
As a continued leader and industry advocate for e-prescribing technology, the Collaborative formed the MA eRx Steering Committee in 2005. This pioneering collaboration, which includes insurers, technology vendors, pharmacies and other organizations involved in the prescription process, has raised awareness of e-prescribing in the state, and is working together to increase adoption. Now facilitated by the MA Health Data Consortium and called the eRx Forum, the group is working to maximize eligibility checking, to explore the possibility of pre-adjudicating step therapy drugs through e-prescribing technology, and providing a Continuing Medical Education (CME) course.
"The eRx program demonstrates the power of collaboration and harnessing technology to improve the safety of medicine. Tufts Health Plan is proud to participate in the eRx Collaborative, as it brings together scientific evidence and information to support physicians and patients in the safe delivery of care," says Allen Hinkle, M.D., Senior Vice President and Chief Medical Officer at Tufts Health Plan.
"NHP is delighted and proud to complete another year as a participant in the eRx Collaborative. We hail the physicians who have embraced e-prescribing. We believe this not only rationalizes the medication prescribing and renewal process, but enhances its safety. Moreover we hope that these physicians' patients recognize and value that they are receiving a higher standard of clinical care in the process," said James Glauber, MD, MPH, Medical Director, Neighborhood Health Plan
"BCBSMA is committed to improving patient safety and healthcare quality in Massachusetts through the eRx Collaborative. Our patient safety study with Dana Farber Cancer Institute to evaluate e-prescribing's impact on quality, safety and affordability will be completed next year. We will continue to promote the adoption of e-prescribing by collaborating with other stakeholders in the state," said Steven Fox, Vice President of Provider Relations and Communications at BCBSMA.
Blue Cross Blue Shield of Massachusetts (BCBSMA), Tufts Health Plan and Neighborhood Health Plan (NHP) are members of the eRx Collaborative. The plans formed the Collaborative in 2003 to jumpstart the use of comprehensive e-prescribing technology in Massachusetts . The program offers physicians and other prescribing clinicians the ability to improve patient safety and increase healthcare affordability. The eRx Collaborative uses applications developed by Zix Corporation (PocketScript(R)) (NASD: ZIXI) and DrFirst (Rcopia(TM)).
e-prescribers are able to access enhanced information when prescribing for patients in participating plans, such as patient eligibility and formulary information. In addition, the program enables prescribers to:
-- Access patient-specific drug histories to determine the
patient's current and past prescriptions
-- Create new and renew prescriptions electronically
-- Send prescriptions for non-controlled substances directly to
the pharmacy via fax or by Electronic Data Interchange (EDI)
and/or print the prescription to paper
-- Receive renewal requests from the pharmacy electronically
-- Check for drug-drug and drug-allergy interactions
-- Access a drug reference guide
"ZixCorp's strong four-year partnership with the eRx Collaborative continues to deliver tremendous results in saving lives and saving money. The eRx Collaborative has once again demonstrated that e-prescribing has a significant impact on the quality of care provided, as seen in changed or canceled prescriptions following an alert to a potentially dangerous adverse drug event," said Rick Spurr, chief executive officer for ZixCorp. "The eRx Collaborative's pioneering payor-sponsorship model continues to serve as a successful blueprint for other e-prescribing programs across the country. With prescriber surveys showing that funding and administrative hassles are the primary obstacles to the broader use of e-prescribing, it is clear that a high-touch payor-sponsorship model can accelerate the widespread adoption of this life- and cost-saving technology."
"We believe e-prescribing is the biggest contributor to having a truly connected healthcare community," said G. Cameron Deemer, President of DrFirst. "The eRx Collaborative was one of the original founders for innovative statewide e-prescribing initiatives, and we are proud to have been part of the success of the program. Moreover, their willingness to jointly invest in their members' safety has paved the way for improved patient outcomes around the country."
The eRx Collaborative continue to sponsor new prescribers, and evaluate the best way to expand awareness and adoption of e-prescribing in Massachusetts for this year and beyond. The Collaborative views e-prescribing as a foundation to future practice technology and has seen evidence of this through prescribers who have left the program to implement electronic medical records with e-prescribing functionality. A fully electronic practice is one of the pathways to reach the ultimate goal for healthcare: to improve patient safety, quality and delivery.
About the eRx Collaborative
The eRx Collaborative was formed by Blue Cross Blue Shield of Massachusetts (BCBSMA), Tufts Health Plan and Neighborhood Health Plan (NHP) with technology partners DrFirst, Inc and Zix Corporation (ZixCorp(R)), (Nasdaq: ZIXI), to collaboratively promote and enable the use of electronic prescribing in Massachusetts to improve patient safety, health care affordability, quality and delivery. For more information, visit our website www.erxcollaborative.org
Source: The eRx Collaborative
HDSN 1.31 Hudson Technologies Reports Second Quarter 2007 Results Market Wire "US Press Releases "
PEARL RIVER, NY -- (MARKET WIRE) -- 08/02/07 -- Hudson Technologies, Inc. (NASDAQ: HDSN), a leading refrigerant services company specializing in proprietary on-site decontamination services for large comfort and process cooling systems, today announced results for the second quarter ended June 30, 2007 .
Revenues for the second quarter of 2007 were $11,307,000 , an increase of $2,504,000 or 28% from the $8,803,000 reported during the comparable 2006 period. Revenues for the six-month period ended June 30, 2007 were $19,424,000 , an increase of $3,715,000 or 24% from the $15,709,000 reported during the comparable 2006 period.
As a result of the previously announced stock purchase from the Fleming Funds, the Company incurred a $4,338,000 non-recurring, non-cash charge to compensation expense, which reduced its reported operating income and net income by such amount. Therefore, as a result of this non-recurring, non-cash charge, the Company reported a net loss for the second quarter of $1,615,000 , compared to $1,297,000 net income reported during the second quarter 2006. The net loss for the six-month period ended June 30, 2007 of $1,332,000 , which also gives effect to the $4,338,000 non-recurring, non-cash charge, compares to $1,544,000 net income reported during the comparable 2006 period. The Company also recognized in the second quarter an income tax benefit of $1,254,000 associated with its deferred tax asset. Without the non-recurring, non-cash charge of $4,338,000 , the Company would have reported an increase in operating income and net income for the three and six months ended June 30, 2007 over the comparable 2006 periods.
Comments by Kevin J. Zugibe, chairman and chief executive officer, Hudson Technologies:
"Operationally, the second quarter of 2007 was one of the Company's strongest quarters ever. Total revenues in the second quarter of 2007 exceeded $11 million , representing the highest quarterly revenues in our history. Refrigerant sales in the second quarter of 2007 increased by more than $2,500,000 over the 2006 period, marking three years of double digit revenue growth, which we attribute largely to our efforts to expand our sales capability. RefrigerantSide® Services revenues were just slightly lower than last year's second quarter due to a slight reduction in the number of jobs completed.
"The second quarter of 2007 was not only a strong sales quarter, but also a quarter in which we took significant steps to return value to Hudson shareholders. As previously reported, on June 28, 2007 , Fleming U.S. Discovery Fund III, L.P. and Fleming U.S. Offshore Discovery Fund III, L.P. ("Fleming Funds") sold 14,911,600 shares of Hudson's common stock in a series of transactions involving the Company and certain members of the Company's management. Hudson purchased and retired 5,680,800 of those shares and certain members of the Company's management team in separate private transactions purchased 9,230,800 of those shares. As a consequence of the sale by the Fleming Funds to the management team of 9,230,800 shares at a purchase price below the then current market price, the Company was required to record non-cash compensation expense of $4,338,000 and a corresponding increase to additional paid-in capital. The Company's net worth was unaffected by this non-recurring, non-cash charge. As a result of these transactions, and after the Company completes its previously announced additional purchase of 1,167,400 shares, the Company will have reduced the number of outstanding shares by more than 26%.
"Certain members of Hudson's management team in the aggregate have personally invested approximately $6,000,000 to purchase 9,230,800 shares of unregistered common stock in the Company from the Fleming Funds. Management did not receive registration rights for these unregistered shares, which, under current regulations are, among other things, restricted from public sale for a minimum of one year from the date of purchase. These transactions, involving the significant personal investment made by our management, reflect the management team's confidence in the future of Hudson Technologies.
"Momentum continues to build as we execute on our vision for continued growth with an expanded sales capability, differentiated offerings and an aggressive share buyback to return value to our shareholders."
Conference Call Information
The Company will host a conference call to discuss the second-quarter 2007 results and additional matters on August 2, 2007 at 1:00 P.M. Eastern.
To listen to the conference call, dial 866-296-6505. Callers should please call at least ten minutes prior to the scheduled start time and verbally give the operator the following access code: 7045414.
An audio replay of the call will be available beginning August 2, 2007 at 4:00 P.M. Eastern for one week through August 9, 2007 , and can be accessed by dialing 877-528-4487 and using the following access code: 63143288#.
A web stream replay of the call will be available for 30 days through September 1, 2007 at the following link: http://app.replayrecorder.com/budget?replaycode=63143288.
About Hudson Technologies
Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson's proprietary RefrigerantSide® Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer's site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide® Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer's system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. For further information on Hudson, please visit the Company's web site at www.hudsontech.com.
Safe Harbor Statement under the Private Securities Litigation Act of 1995
Statements contained herein, which are not historical facts constitute forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changes in the markets for refrigerants (including unfavorable market conditions adversely affecting the demand for, and the price of refrigerants), the Company's ability to source refrigerants, regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements which become available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential environmental liability, customer concentration, the ability to obtain financing and other risks detailed in the Company's periodic reports filed with the Securities and Exchange Commission . The words "believe," "expect," "anticipate," "may," "plan," "should" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.
Hudson Technologies, Inc. and subsidiaries
Consolidated Statements of Operations
(unaudited)
(Amounts in thousands, except for share and per share amounts)
Three-month period Six-month period
---------------------- ----------------------
ended June 30, ended June 30,
---------------------- ----------------------
2007 2006 2007 2006
---------- ---------- ---------- ----------
Revenues $ 11,307 $ 8,803 $ 19,424 $ 15,709
Cost of sales 8,358 6,215 14,917 11,395
---------- ---------- ---------- ----------
Gross Profit 2,949 2,588 4,507 4,314
---------- ---------- ---------- ----------
Operating expenses:
Selling and marketing 480 403 888 849
General and
administrative 836 799 1,573 1,726
Compensation expense for
stock purchases 4,338 ------ 4,338 ------
---------- ---------- ---------- ----------
Total operating
expenses 5,654 1,202 6,799 2,575
---------- ---------- ---------- ----------
Operating income (loss) (2,705) 1,386 (2,292) 1,739
---------- ---------- ---------- ----------
Other income (expense):
Interest expense (167) (85) (306) (188)
Interest income 3 4 12 6
---------- ---------- ---------- ----------
Total other income
(expense) (164) (81) (294) (182)
---------- ---------- ---------- ----------
Income (loss) before income
taxes (2,869) 1,305 (2,586) 1,557
Income taxes (benefit) (1,254) 8 (1,254) 13
---------- ---------- ---------- ----------
Net income (loss) ($ 1,615) $ 1,297 ($ 1,332) $ 1,544
========== ========== ========== ==========
Net income (loss) per
common share - basic and
diluted ($ 0.06) $ 0.05 ($ 0.05) $ 0.06
========== ========== ========== ==========
Weighted average number of
shares outstanding - Basic 25,905,060 25,893,907 25,910,233 25,893,207
========== ========== ========== ==========
Weighted average number of
shares outstanding -
Diluted 25,905,060 26,273,210 25,910,233 26,370,126
========== ========== ========== ==========
DDDC 1.15 deltathree Reports Second Quarter 2007 Financial Results PrimeNewswire "PrimeNewswire "
NEW YORK , Aug. 2, 2007 (PRIME NEWSWIRE) -- deltathree, Inc. (Nasdaq:DDDC), a leading provider of Voice over Internet Protocol (VoIP) hosted communications solutions for service providers, resellers and end-users worldwide, today announced financial results for the second quarter 2007 ended June 30, 2007 .
Second Quarter 2007 Highlights
* joip powered Panasonic GLOBARANGE hybrid VoIP phones begin
pre-launch sales on Amazon.com worldwide and through John Lewis, a
leading United Kingdom based department store and online retailer.
* GLOBARANGE global sales launch on track for 3Q 2007 in 12 countries
worldwide: United States , Canada , Brazil , Mexico , Australia , Hong
Kong , the United Kingdom , Ireland , Spain , Germany , Austria and
Russia .
* Alaska Communications Systems Group Inc. (ACS), Alaska's leading
integrated communications provider, launched deltathree's award
winning Hosted Consumer VoIP Solution.
* Substantially completed the integration of the Go2Call service
provider and consumer VoIP business assets.
Revenues for the second quarter of 2007 totaled $7.6 million , a decrease of $2.4 million from the $10.0 million reported for the second quarter of 2006. Service provider and reseller revenues accounted for approximately 79.2% of total revenues during the second quarter with 13.1% driven by consumer VoIP revenues and 7.7% related to other business activities.
deltathree reported a GAAP net loss for the second quarter of 2007 of $1.6 million or $(0.05) per share as compared to GAAP net income of $496,000 or $0.02 per share in the second quarter of 2006. Approximately $359,000 of the loss recorded for the second quarter of 2007 was attributable to amortization associated with the purchase of Go2Call in February 2007 .
Gross margin for the second quarter of 2007 was 27% compared with a gross margin of 38% for the second quarter of 2006. Gross margins declined primarily as a result of the integration of lower margin revenues related to the acquisition of Go2Call in February of 2007, as Go2Call historically carried gross margins that were lower than that of deltathree's. deltathree has typically maintained a more favorable termination cost structure, combined with more favorable pricing plans. Although the Company has been honoring certain of the original Go2Call pricing plans, the Company is currently focused on driving the newly acquired Go2Call gross margin closer to that of deltathree's historical levels of the low to mid thirty percent range.
deltathree reported an adjusted EBITDA loss, or earnings before non-cash stock-based compensation, interest, taxes, depreciation and amortization, for the second quarter of 2007 of $930,000 or a loss of $(0.03) per share, compared to adjusted EBITDA positive results of $853,000 or $0.03 per share in the second quarter of 2006.
deltathree defines adjusted EBITDA as earnings before non-cash stock-based compensation, interest, taxes, depreciation and amortization. The Company uses adjusted EBITDA as a measure of the Company's operating trends. Investors are cautioned that adjusted EBITDA is not a measure of liquidity or of financial performance under Generally Accepted Accounting Principles (GAAP). The adjusted EBITDA numbers presented may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA, while providing useful information, should not be considered in isolation or as an alternative to net income or cash flows as determined under GAAP. Consistent with the SEC Regulation G, the non-GAAP measures in this press release have been reconciled to the nearest GAAP measure, and this reconciliation is located under the heading "Reconciliation of Non-GAAP Financial Information to GAAP" following the Condensed Consolidated Statements of Operations included in this press release.
As of June 30, 2007 , deltathree held approximately $12.4 million in cash, cash equivalents, short and long-term investments as well as restricted cash with no outstanding debt.
During the second quarter of 2007, deltathree carried approximately 181 million retail minutes of VoIP traffic flow across its network from consumers and service providers, up from the 166 million carried during the first quarter of 2007.
deltathree Operational Review
Shimmy Zimels, President and Chief Executive Officer of deltathree, stated, "From a financial perspective, the second quarter of 2007 was a particularly challenging period primarily due to increased costs associated with the ramp of new growth initiatives, such as our new joip solution, combined with the negative impact of increased competition in the direct to consumer VoIP segment of the market and a slower than anticipated ramp in the conversion of Go2Call customers onto the deltathree platform. On the product side we continued to make excellent progress towards our formal worldwide launch of the joip powered line of Panasonic GLOBARANGE hybrid VoIP phones as well as the continued penetration of the service provider market with our Hosted Consumer VoIP Solution, including a new launch with Alaska Communications Systems Group Inc. (ACS), Alaska's leading integrated communications provider. Building upon these new customer wins, we believe that the up front costs absorbed during the quarter in support of the launch of our new joip consumer platform will provide an additional growth engine as we approach the hard launch of the joip powered Panasonic GLOBARANGE phones.
"Overall, I believe our strategy of focusing on reaching consumers through leading service providers customers with our comprehensive Hosted Consumer VoIP Solution, as well as partners, allows us to dedicate our efforts on the most innovative and high value revenue streams. In the direct to consumer VoIP segment, we continued to see a competitive environment for basic consumer VoIP telephony service and a higher percentage of VoIP minutes across the network to lower priced geographies. Accordingly, we are continuing to increase our presence in lower penetrated and higher margin geographic markets through cost efficient customer acquisition channels. With the integration of the Go2Call assets largely complete and the launch of our new joip consumer brand with Panasonic, we believe we are taking the correct actions to return deltathree to sequential growth and long-term profitability," concluded Mr. Zimels.
Financial Guidance
Based on lower than anticipated revenues in the first half of 2007, the Company is removing its previously issued full year 2007 revenue guidance of approximately $44.0 million to $47.0 million . The Company is currently reviewing its analysis of the full year expectations based on the upcoming hard launch of its joip consumer offering and other events.
Conference Call Details
The deltathree second quarter 2007 earnings conference call will be webcast live at 10:00 a.m. ET / 7:00 a.m. PT today, August 2, 2007 . Investors are invited to listen to the live call by dialing 1-888-428-4472 in the United States or by dialing 1-612-288-0337 when calling internationally. Investors worldwide can also listen to the call live via deltathree's Website, http://www.deltathree.com. Please go to the Website at least 15 minutes early to register, download, and install any necessary audio software. A replay of the call will also be available through the deltathree corporate Website.
Adjusted EBITDA Financial Disclosure
Investors are cautioned that the adjusted EBITDA, or earnings before non-cash stock-based compensation, interest, taxes, depreciation and amortization, information contained in this press release and the attached financial information is not a financial measure under generally accepted accounting principles. In addition, it should not be construed as an alternative to any other measures of performance determined in accordance with generally accepted accounting principles, or as an indicator of the Company's operating performance, liquidity or cash flows generated by operating, investing and financing activities, as there may be significant factors or trends that it fails to address. Adjusted EBITDA financial information is presented because deltathree believes that it is helpful to some investors as one measure of the Company's operations. deltathree cautions investors that non-GAAP financial information such as adjusted EBITDA, by its nature, departs from traditional accounting conventions; accordingly, its use can make it difficult to compare deltathree's results with the results from other reporting periods and with the results of other companies.
About deltathree
Founded in 1996, deltathree, Inc. is a leading provider of integrated Voice over Internet Protocol (VoIP) telephony services, products, hosted solutions and infrastructure. deltathree offers high quality Internet telephony solutions that are viable and cost-effective alternatives to traditional telephone services. Supporting hundreds of thousands of active users around the world, deltathree serves customers through its two primary distribution channels: the Service Provider / Reseller channel and the direct- to-consumer channel. deltathree's advanced solutions offer service providers and resellers a full spectrum of private label VoIP products and services, as well as a back-office suite of services. Utilizing advanced Session Initiation Protocol (SIP) technology, deltathree provides all the components to support a complete VoIP service deployment. deltathree's Consumer Group consists of the award-winning iConnectHere direct-to-consumer offering and joip, the newly formed consumer brand that powers the VoIP service of Panasonic's GLOBARANGE hybrid phone.
For more information about deltathree please visit our website: www.deltathree.com
For more information about joip, visit our web site at www.joip.com
Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect deltathree's business and prospects and cause actual results to differ materially from these forward-looking statements, including expectations relating to our acquisition of the assets from Go2Call and expected synergies. Among the factors that could cause actual results to differ are: our failure to successfully integrate Go2Call assets and certain personnel into our business and achieve expected synergies; our failure to retain key customers and to retain certain personnel; uncertainty of our future profitability; our ability to expand our revenues from multiple sources and customer bases; our ability to obtain additional capital to finance operations and grow our business; decreasing rates of all related telecommunications services, which could prevent our future profitability; our limited operating history; our acquisition activity could disrupt our ongoing business; the public's acceptance of VoIP telephony, and the level and rate of customer acceptance of our new products and services; the competitive environment of Internet telephony and our ability to compete effectively; fluctuations in our quarterly financial results; our ability to handle a large number of simultaneous calls; our ability to maintain and operate our computer and communications systems, without interruptions or security breaches; our ability to operate in international markets; our ability to retain key personnel to support our products and ongoing operations; our ability to provide quality and reliable service, which is in part dependent upon the proper functioning of equipment owned and operated by third parties; the uncertainty of future governmental regulation; the need for ongoing product and service development in an environment of rapid technological change; and other risk factors contained in deltathree's periodic reports on file with the SEC and available on the Internet at http://www.sec.gov. Except as required under the federal securities laws and the rules and regulations of the SEC, deltathree does not have any intention or obligation to update publicly any forward-looking statements after the distribution of this news release, whether as a result of new information, future events, changes in assumptions, or otherwise.
DELTATHREE, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
($ in thousands)
June 30, Dec. 31,
2007 2006
-------- --------
ASSETS
Current assets:
Cash and cash equivalents $ 1,899 $ 3,790
Restricted cash and short-term investments 9,385 12,067
Accounts receivable, net 1,203 1,286
Prepaid expenses and other current assets 436 444
Inventory 171 155
-------- --------
Total current assets 13,094 17,742
-------- --------
Long-term investments 1,085 1,085
-------- --------
Property and equipment:
Telecommunications equipment 18,206 18,147
Furniture, fixtures and other 647 639
Leasehold improvements 4,848 4,677
Computers hardware & software 8,805 8,474
-------- --------
32,506 31,937
Less - accumulated depreciation (29,257) (28,479)
-------- --------
Property and equipment, net 3,249 3,458
-------- --------
Intangible assets, net 7,102 --
-------- --------
Deposits 110 110
-------- --------
Total assets $ 24,640 $ 22,395
======== ========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses $ 2,665 $ 2,916
Deferred revenues 864 1,099
Other current liabilities 1,812 1,545
-------- --------
Total current liabilities 5,341 5,560
-------- --------
Long-term liabilities:
Severance pay obligations 297 217
-------- --------
Total liabilities 5,638 5,777
-------- --------
Stockholders' equity:
Class A common stock, $0.001 par value 33 30
Additional paid-in capital 172,447 168,030
Accumulated deficit (153,478) (151,442)
-------- --------
Total stockholders' equity 19,002 16,618
-------- --------
Total liabilities and stockholders' equity $ 24,640 $ 22,395
======== ========
DELTATHREE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
($ in thousands, except share and per share data)
Three Months Ended Six Months ended
------------------------ ------------------------
June 30, June 30,
------------------------ ------------------------
2007 2006 2007 2006
---------- ---------- ---------- ----------
Revenues $ 7,602 $ 9,966 $ 15,914 $ 20,715
Costs and
operating
expenses:
Cost of
revenues 5,551 6,166 10,827 13,360
Research and
development
expenses 1,107 1,044 2,243 2,124
Selling and
marketing
expenses 1,318 1,271 2,545 2,473
General and
administrative
expenses 649 732 1,261 1,664
Depreciation and
amortization 774 379 1,342 750
---------- ---------- ---------- ----------
Total costs and
operating
expenses 9,399 9,592 18,218 20,371
---------- ---------- ---------- ----------
Loss from
operations (1,797) 374 (2,304) 344
Interest income,
net 175 148 295 277
---------- ---------- ---------- ----------
Net (loss)
income before
taxes (1,622) 522 (2,009) 621
Income taxes 17 26 27 37
---------- ---------- ---------- ----------
Net (loss)
income $ (1,639) $ 496 $ (2,036) $ 584
========== ========== ========== ==========
Basic net (loss)
income per
share $ (0.05) $ 0.02 $ (0.06) $ 0.02
========== ========== ========== ==========
Diluted net (loss)
income per
share $ (0.05) $ 0.02 $ (0.06) $ 0.02
========== ========== ========== ==========
Basic weighted
average number
of shares
outstanding 32,781,545 29,745,897 32,034,837 29,744,860
========== ========== ========== ==========
Diluted weighted
average number
of shares
outstanding 32,781,545 30,604,982 32,034,837 30,640,319
========== ========== ========== ==========
DELTATHREE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
($ in thousands)
Six months ended
June 30,
--------------------
2007 2006
-------- --------
Cash flows from operating activities
(loss) income for the period $ (2,036) $ 584
Adjustments to reconcile (loss) income for
the period to net cash used in operating
activities:
Depreciation and amortization 1,342 750
Stock based compensation 190 244
Provision for losses on accounts receivable 24 --
Increase in liability for severance pay 80 47
Changes in assets and liabilities:
Decrease (increase) in accounts receivable 58 (488)
Decrease (increase) in prepaid expenses and
other current assets 8 75
(Increase) decrease in inventory (16) 6
Decrease in accounts payable (618) (323)
(Decrease) increase in deferred revenues (859) 1,540
Increase in other current liabilities 267 300
-------- --------
476 2,151
-------- --------
Net cash (used in) provided by operating
activities (1,560) 2,735
-------- --------
Cash flows from investing activities:
Purchase of property and equipment (531) (420)
Increase in deposits -- (2)
Purchase of Go2Call operations, net (2,509) --
Net change in short-term investments 2,682 (2,948)
-------- --------
Net cash used in investing activities (358) (3,370)
-------- --------
Cash flows from financing activities:
Proceeds from exercise of employee options 27 21
-------- --------
Net cash provided by financing activities -- 21
-------- --------
Decrease in cash and cash equivalents (1,891) (614)
Cash and cash equivalents at beginning of
period 3,790 3,847
-------- --------
Cash and cash equivalents at end of the period $ 1,899 $ 3,233
======== ========
Supplemental schedule of cash flow information:
Cash paid for:
Taxes $ 17 $ 24
Supplemental schedule of non cash investing
and financing activities:
Acquisition of fixed assets on credit -- $ 27
Cancellation of treasury stock -- $ 210
Supplemental schedule of acquisition of Go2Call
Fixed assets $ 51
Intangible asset 7,652
Accounts payable (367)
Deferred revenues (624)
Stock issuance (4,203)
--------
Total $ 2,509
========
DELTATHREE, INC.
RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION TO GAAP
($ in thousands, except share and per share data)
Three months ended Six months ended
June 30, June 30,
------------------------ ------------------------
2007 2006 2007 2006
---------- ---------- ---------- ----------
Net (loss)
income $ (1,639) $ 496 $ (2,036) $ 584
========== ========== ========== ==========
Depreciation 774 379 1,342 750
Stock Based
Compensation 93 100 190 244
Interest Income 175 148 295 277
Taxes 17 26 27 37
---------- ---------- ---------- ----------
Adjusted EBITDA (930) 853 (772) 1,338
========== ========== ========== ==========
Basic adjusted
EBITDA per
share (in US$) $ (0.03) $ 0.03 $ (0.02) $ 0.04
========== ========== ========== ==========
Diluted adjusted
EBITDA per
share (in US$) $ (0.03) $ 0.03 $ (0.02) $ 0.04
========== ========== ========== ==========
Basic weighted
average number
of shares
outstanding 32,781,545 29,745,897 32,034,837 29,744,860
========== ========== ========== ==========
Diluted weighted
average number
of shares
outstanding 32,781,545 30,604,982 32,034,837 30,640,319
========== ========== ========== ==========
Adjusted EBITDA (earnings before non-cash stock-based compensation, interest, taxes, depreciation and amortization)
CONTACT: deltathree, Inc.
Media Relations Contact:
Susan Park
(212) 500-4836
pr@deltathree.com
The Global Consulting Group
Investor Relations Contact:
Erik Knettel
(646) 284-9415
ir@deltathree.com
HRSH 3.35 Hirsch International Corp. Reports Second Quarter 2007 Results Business Wire "US Press Releases "
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--
Hirsch International Corp. (NASDAQ: HRSH), a leading provider of advanced embroidery, screen-printing, and laser systems, as well as related support services to the North American decorated apparel marketplace, reported its financial results for the three and six months ended June 30, 2007 . Hirsch has changed its fiscal year end from January 28th to December 31st , thus the six months ended June 30, 2007 are compared with the five months ended June 30, 2006 .
Highlights for the three and six months ended June 30, 2007 , and for the three and five months ended June 30, 2006 , are as follows:
-- Net sales were $12.2 million for the three months ended June
30, 2007 , as compared to $13.6 million for the three months
ended June 30, 2006 . Net sales increased to $26.2 million for
the six months ended June 30, 2007 , as compared to $22.3
million for the five months ended June 30, 2006 .
-- Gross profit margin improved to 37.3% for the three months
ended June 30, 2007 , as compared to 33.4% for the three months
ended June 30, 2006 . Gross profit margin also improved for the
current six-month period, to 37.8% as compared to 34.2% for
the five months ended June 30, 2006 .
-- Gross profit remained constant at $4.6 million for the three
months ended June 30, 2007 , as compared to the three months
ended June 30, 2006 . Gross profit increased to $9.9 million
for the six months ended June 30, 2007 , as compared to $7.6
million for the five months ended June 30, 2006 .
-- Operating expenses decreased to $3.8 million for the three
months ended June 30, 2007 , as compared to $4.0 million for
the three months ended June 30, 2006 . Operating expenses
increased to $8.4 million for the six months ended June 30,
2007 , as compared to $6.8 million for the five months ended
June 30, 2006 .
-- Operating income increased to $732,000 for the three months
ended June 30, 2007 , as compared to $547,000 for the three
months ended June 30, 2006 . Operating income also increased to
$1.5 million for the six months ended June 30, 2007 , as
compared to $828,000 for the five months ended June 30, 2006 .
Included in operating income for both the three-month and
six-month periods ended June 30, 2007 is the recognition of a
litigation settlement of $450,000 with Sheridan Square
Entertainment which was entered into at the end of June
2007and paid after the end of the quarter.
-- Net income increased to $761,000 for the three months ended
June 30, 2007 , as compared to $581,000 for the three months
ended June 30, 2006 . Net income also increased to $1.6 million
for the six months ended June 30, 2007 , as compared to
$873,000 for the five months ended June 30, 2006 . Net income
for both the three-month and six-month periods ended June 30,
2007 includes the aforementioned settlement with Sheridan
Square Entertainment .
-- Earnings per diluted share increased to $0.08 for the three
months ended June 30, 2007 , as compared to $0.06 for the three
months ended June 30, 2006 . Earnings per diluted share also
increased to $0.17 for the six months ended June 30, 2007 , as
compared to $0.09 for the five months ended June 30, 2006 .
Paul Gallagher, Hirsch's President and CEO commented, "In the first half of the year we saw a drop in overall demand for equipment purchases industry wide. The first six months of the year tend to be less predictable and while our customers appear to be generally busy, we saw sales off about 2% from last year's first half run rate - mostly impacted by our second quarter performance. I suspect the slowdown in capital spending is reflective of overall concerns about the economy and a general cautiousness in expansion and replacement spending decisions. On the more positive side, we were able to deliver gross margin dollars on par with last year's second quarter and a first half increase of over $2.2 million ."
"Regarding the future, our 2007 operating plan includes initiatives to significantly expand market presence and penetration. To date, we are half way through a thirty percent staff expansion in critical customer support functions; well into a "next generation" web-based systems development project; and progressing on-plan to build the infrastructure base for our new screenprinting and laser product lines. And while we are not expecting substantial short-term profit contribution from these initiatives or new product introductions this year, we are expecting each to add nicely to profits in the future."
Mr. Gallagher concluded, "This is a building year for Hirsch and we will be entering 2008 much stronger and better positioned in the marketplace. We are also continuing to aggressively look for and pursue potential acquisition and strategic partnership opportunities primarily in and tangent to the $6 billion decorated apparel industry. I am very optimistic about our future. Our great position in the industry, strong capital structure, and outstanding team provide us with a great platform for future growth."
About Hirsch International Corp.
Hirsch is the leading provider of advanced commercial embroidery systems and support services in the United States . The Company offers single and multi-head embroidery machines, proprietary application software, embroidery parts, supplies and accessories, and technical service and support. Hirsch's customers include contract embroiderers, manufacturers of apparel and fashion accessories, retail stores, and embroidery entrepreneurs. The Company is the country's leading single source provider of Tajima embroidery systems, marketed under the name "Tajima USA Sales & Support by Hirsch."
Additionally, on August 2, 2006 Hirsch announced that it had entered into an exclusive ten-year distribution agreement with MHM Siebdruckmaschinen GmbH for the distribution and support of MHM screen-printing equipment in North America . Hirsch markets its MHM's product line under the name " MHM North America by Hirsch." On January 25, 2007 , the Company announced an exclusive ten-year distribution agreement with SEIT Elettronica SRL based in Italy . Hirsch provides sales and support services for the SEIT line of laser application equipment throughout the U.S.
Hirsch, lead by a strong and experienced management team, is focused on continuing to grow its core business through sound acquisitions of products and processes, as well as through related business ventures in which the Company can build and maximize stockholder value. The Company was founded in 1970 and is headquartered in Hauppauge, NY.
Safe Harbor Statement
This press release contains forward-looking statements set within the meaning of the Private Securities Litigation Reform Act of 1995. Except for historical information contained herein, the matters set forth in this news release are forward-looking statements. The Company noted that forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including, without limitation, the risks and uncertainties discussed under the caption "Risk Factors" in the Company's Form 10-K for calendar 2006, which discussion is incorporated herein by reference. Readers are also urged to read the periodic filings and current reports on Form 8-K of the Company.
HIRSCH INTERNATIONAL CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
June 30, December 31,
------------- -------------
2007 2006
------------- -------------
ASSETS (unaudited)
Cash and cash equivalents $13,850 $14,498
Accounts receivable, net 5,811 5,756
Inventories, net 5,711 5,710
Other current assets 1,016 367
Property, plant and equipment, net 262 319
Other assets 47 538
------------- -------------
TOTAL ASSETS $26,697 $27,188
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Accounts payable and accrued expenses $7,502 $10,058
Customer deposits 381 457
Other current liabilities 157 140
Other long term liabilities - less
current maturities 60 120
------------- -------------
TOTAL LIABILITIES 8,100 10,775
------------- -------------
TOTAL STOCKHOLDERS' EQUITY 18,597 16,413
------------- -------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $26,697 $27,188
============= =============
HIRSCH INTERNATIONAL CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(All amounts in thousands, except per share data)
(unaudited)
Three Months Ended Six Five
Months Months
Ended Ended
June 30, June 30, June 30, June 30,
2007 2006 2007 2006
------------ -------- -------- --------
NET SALES $12,200 $13,660 $26,234 $22,305
COST OF SALES 7,642 9,093 16,327 14,669
------------ -------- -------- --------
GROSS PROFIT 4,558 4,567 9,907 7,636
OPERATING EXPENSES 3,826 4,020 8,364 6,808
------------ -------- -------- --------
OPERATING INCOME 732 547 1,543 828
------------ -------- -------- --------
OTHER INCOME 53 48 109 59
------------ -------- -------- --------
INCOME BEFORE PROVISION FOR
INCOME TAXES 785 595 1,652 887
INCOME TAX PROVISION 24 14 74 14
------------ -------- -------- --------
NET INCOME $761 $581 $1,578 $873
============ ======== ======== ========
INCOME PER SHARE:
Basic $0.08 $0.07 $0.18 $0.10
------------ -------- -------- --------
Diluted $0.08 $0.06 $0.17 $0.09
------------ -------- -------- --------
WEIGHTED AVERAGE NUMBER OF
SHARES IN THE CALCULATION OF
INCOME PER SHARE:
Basic 9,071 8,487 8,912 8,487
Diluted 9,496 9,649 9,284 9,649
============ ======== ======== ========
Source: Hirsch International Corp.
DANKY .86 Danka Reports Fiscal Year 2008 First Quarter Results Market Wire "US Press Releases "
ST. PETERSBURG, FL -- (MARKET WIRE) -- 08/02/07 -- Danka Business Systems PLC (NASDAQ: DANKY) today reported operating earnings from continuing operations of $1.8 million in the fiscal year 2008 first quarter ended June 30, 2007 , compared with operating losses from continuing operations of $3.9 million in the comparable fiscal 2007 quarter and $3.0 million in the quarter ended March 31, 2007 .
The Company reported a net loss of $5.0 million in the fiscal year 2008 first quarter, versus losses of $12.2 million in the year ago quarter and $17.1 million in the quarter ended March 31, 2007 .
For the first quarter of fiscal 2008:
-- Total revenue was $106.3 million , 12.9% lower than the prior year
quarter and down 6.4% sequentially. Retail equipment, supplies and related
sales was $46.2 million for the quarter, down 14.6% from the prior year,
and down 12.5% sequentially. Service revenue was $57.2 million , down 9.1%
from the prior year, but down only 0.8% sequentially.
-- Consolidated gross margin for the quarter was 36.2%, down 90 basis
points from the prior year, but up 350 basis points from the prior quarter.
-- SG&A expenses were $36.3 million , down 9.7% from the prior year and
down 4.8% sequentially. Restructuring charges were $1.3 million , other
income was $0.9 million and tax expense was $0.7 million .
-- Net interest expense was $5.0 million , and loss from discontinued
operations was $1.0 million .
-- Subsequent to the close of the quarter, the Company redeemed all of
its outstanding 11% Senior Notes due 2010 and 10% Subordinated Notes due
2008 in connection with the previously announced $145 million financing
agreement with General Electric Capital Corporation which was completed on
June 25, 2007 .
"The story of the first quarter is the Company's positive operating earnings," said A.D. Frazier, Danka Chairman and Chief Executive Officer. "This is a first step, but an important one, on the path to positive net income. We have restructured our balance sheet in a way that meaningfully lowers the interest burden. SG&A continues to trend lower. We have achieved four consecutive quarters of stabilized service revenue. While we did not achieve the growth we expected in hardware revenue, that business remains fundamentally sound and we expect our investments in people and training to deliver higher equipment sales.
"Most important," concluded Mr. Frazier, "is that the marketplace knows Danka is there. Clients and prospects, business partners and even competitors see the changes. And that serves to drive us even harder."
Conference Call and Webcast
A conference call and Webcast to discuss Danka's first quarter results has been scheduled for today, August 2, 2007 , at 10:00a.m. ET . To access the Webcast, please go to www.danka.com. To participate in the conference call, callers in the United States and Canada (and some United Kingdom callers) can dial 800-309-1555. Other international callers should dial 706-643-7754. Reference conference ID #10126364 when prompted. A recording of the call will be available approximately two hours after it's completed through 12:00a.m. ET on August 9, 2007 . To access this recording, please call either 800-642-1687 or 706-645-9291 (conference ID #10126364), or visit Danka's website.
About Danka
Danka delivers value to clients by using its expert technical and professional services to implement effective document information solutions. As one of the largest independent providers of enterprise imaging systems and services, the Company enables choice, convenience, and continuity. Danka's vision is to empower customers to benefit fully from the convergence of image and document technologies in a connected environment. This approach will strengthen the Company's client relationships and expand its strategic value. For more information, visit Danka at www.danka.com.
Certain statements contained herein, or otherwise made by our officers, including statements related to our future performance and our outlook for our businesses and respective markets, projections, statements of our plans or objectives, forecasts of market trends and other matters, are forward-looking statements, and contain information relating to us that is based on our beliefs as well as assumptions, made by, and information currently available to us. The words "goal," "anticipate," "expect," "believe," "could," "should," "intend" and similar expressions as they relate to us are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. No assurance can be given that the results in any forward-looking statement will be achieved. For the forward-looking statements, we claim the protection of the safe harbor for forward-looking statements provided for in the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. Such statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ materially from those reflected in the forward-looking statements. Factors that might cause such actual results to differ materially from those reflected in any forward-looking statements include, but are not limited to, the following: (i) any inability to successfully implement our strategy; (ii) any inability to successfully implement our cost restructuring plans to achieve and maintain cost savings; (iii) any inability to comply with the Sarbanes-Oxley Act of 2002; (iv) any material adverse change in financial markets, the economy or in our financial position; (v) increased competition in our industry and the discounting of products by our competitors; (vi) new competition from non-traditional competitors as the result of evolving and converging technology; (vii) any inability by us to procure, or any inability by us to continue to gain access to and successfully distribute current and new products, including digital products, color products, multi-function products and high-volume copiers, or to continue to bring current products to the marketplace at competitive costs and prices; (viii) any inability to arrange financing for our customers' purchases of equipment from us; (ix) any inability to successfully enhance, unify and effectively utilize our management information systems; (x) any inability to access vendor or bank lines of credit, which could adversely affect our liquidity; (xi) any inability to record and process key data due to ineffective implementation of business processes and policies; (xii) any negative impact from the loss of a key vendor or customer; (xiii) any negative impact from the loss of any of our senior or key management personnel; (xiv) any change in economic conditions in markets where we operate or have material investments which may affect demand for our products or services; (xv) any incurrence of tax liabilities or tax payments beyond our current expectations, which could adversely affect our liquidity and profitability; (xvi) any inability to continue to comply with our new senior secured credit facility covenants or the financial or other representations, warranties, or maturities in our debt instruments; (xvii) any delayed or lost sales or other impacts related to the commercial and economic disruption caused by natural disasters, including hurricanes; (xviii) any delayed or lost sales and other impacts related to the commercial and economic disruption caused by terrorist attacks, the related war on terrorism, and the fear of additional terrorist attacks; and (xix) any negative impact of the accreted value of our outstanding preferred stock or its continued accretion; (xx) any negative impact of our continued organization as an England and Wales registered Company following the sale of our European businesses; and (xxi) other risks including those risks identified in any of our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect our analysis only as of the date they are made. Except as required by applicable law, we undertake no obligation, and do not intend, to update these forward-looking statements to reflect events or circumstances that arise after the date they are made. Furthermore, as a matter of policy, we do not generally make any specific projections as to future earnings, nor do we endorse any projections regarding future performance, which may be made by others outside our Company.
United Kingdom Companies Act: The financial information contained in this announcement for the quarter ended June 30, 2007 is unaudited and does not constitute full statutory accounts within the meaning of Section 240 of the United Kingdom Companies Act 1985.
This press release contains information regarding adjusted operating earnings (loss) that is computed as operating earnings from continuing operations before restructuring, a loss on sale of subsidiary and a gain on the sale of asset; free cash flow that is computed as net cash provided by (used in) operating activities less capital expenditures plus proceeds from the sale of property and equipment and subsidiaries; net debt that is computed as current maturities of long-term debt and notes payable plus long-term debt and notes payable less cash and cash equivalents and restricted cash; and adjusted basic net earnings (loss) available to common shareholders per ADS that is computed as net earnings (loss) divided by weighted average basic ADSs (without taking into account dividends and accretion on participating shares). These measures are non-GAAP financial measures, defined as numerical measures of our financial performance that exclude or include amounts so as to be different than the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles, or GAAP in our statement of operations, balance sheet or statement of cash flows. Pursuant to the requirements of Regulation G, we have provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures.
Although adjusted operating earnings (loss), free cash flow, net debt, and adjusted basic net earnings (loss) available to common shareholders per ADS represent non-GAAP financial measures, we consider these measures to be key operating metrics of our business. We use these measures in our planning and budgeting processes, to monitor and evaluate our financial and operating results and to measure performance of our separate divisions. We also believe that adjusted operating earnings (loss), free cash flow, net debt, and adjusted basic net earnings (loss) available to common shareholders per ADS are useful to investors because they provide an analysis of financial and operating results using the same measures that we use in evaluating the Company. We expect that such measures provide investors with the means to evaluate our financial and operating results against other companies within our industry. We believe that these measures are meaningful to investors in evaluating our ability to meet our future debt service requirements and to fund our capital expenditures and working capital requirements. Our calculation of adjusted operating earnings (loss), free cash flow, net debt, and adjusted basic net earnings (loss) available to common shareholders per ADS may not be consistent with the calculation of these measures by other companies in our industry. Adjusted operating earnings (loss), free cash flow, net debt, and adjusted basic net earnings (loss) available to common shareholders per ADS are not measurements of financial performance under GAAP and should not be considered as an alternative to net earnings (loss) as an indicator of our operating performance or cash flows from operating activities as a measure of liquidity or any other measures of performance derived in accordance with GAAP.
Danka is a registered trademark and Danka @ the Desktop and TechSource are trademarks of Danka Business Systems PLC. All other trademarks are the property of their respective owners.
Danka Business Systems PLC
Consolidated Condensed Statements of Operations for the Three Months Ended
June 30, 2007 and 2006
(In thousands, except per American Depositary Share ("ADS") amounts)
(Unaudited)
Three months ended
June 30,
-----------------------------
2007 2006
------------- -------------
Revenue:
Retail equipment, supplies and related sales $ 46,162 $ 54,077
Retail service 57,229 62,941
Rentals 2,883 5,031
------------- -------------
Total revenue 106,274 122,049
------------- -------------
Cost of sales:
Retail equipment, supplies and related sales
costs 32,207 38,389
Retail service costs 34,301 37,243
Rental costs, including depreciation on
rental assets 1,319 1,184
------------- -------------
Total cost of sales 67,827 76,816
------------- -------------
Gross profit 38,447 45,233
Operating expenses:
Selling, general and administrative expenses 36,284 40,193
Restructuring charges 1,258 6,061
Loss on sale of subsidiary - 2,507
Other expense (income) (895) 416
------------- -------------
Total operating expenses 36,647 49,177
------------- -------------
Operating earnings (loss) from
continuing operations 1,800 (3,944)
Interest expense (6,880) (7,359)
Interest income 1,851 25
------------- -------------
Earnings (loss) from continuing
operations before income taxes (3,229) (11,278)
Provision (benefit) for income taxes 722 467
------------- -------------
Earnings (loss) from continuing
operations (3,951) (11,745)
Earnings (loss) from discontinued
operations, net of tax (286) (242)
Gain (loss) on sale of discontinued
operations, net of tax (719) (215)
------------- -------------
Net earnings (loss) $ (4,956) $ (12,202)
============= =============
Net earnings (loss) available to common
shareholders:
Net earnings (loss) from continuing
operations $ (3,951) $ (11,745)
Dividends and accretion on participating
shares (5,961) (5,606)
------------- -------------
Net earnings (loss) from continuing
operations available to common shareholders $ (9,912) $ (17,351)
============= =============
Basic and diluted net earnings (loss)
available to common shareholders per ADS:
Net earnings (loss) from continuing
operations $ (0.15) $ (0.27)
Net earnings (loss) from discontinued
operations (0.02) (0.01)
------------- -------------
Basic net earnings (loss) $ (0.17) $ (0.28)
------------- -------------
Weighted average basic ADSs 64,767 64,132
============= =============
Danka Business Systems PLC
Consolidated Condensed Balance Sheets as of June 30, 2007 and March 31,
2007
(In thousands except per share data)
June 30, March 31,
2007 2007
------------- -------------
(Unaudited)
Assets
Current assets:
Cash and cash equivalents $ 8,112 $ 17,594
Restricted cash 266,586 163,979
Accounts receivable, net of allowances 40,003 44,180
Inventories 32,851 31,681
Prepaid expenses, deferred income taxes
and other current assets 11,184 17,607
------------- -------------
Total current assets 358,736 275,041
Equipment on operating leases, net 8,834 9,241
Property and equipment, net 20,683 22,637
Goodwill 93,489 93,489
Other intangible assets, net of accumulated
amortization 529 554
Other assets 20,103 16,086
------------- -------------
Total assets $ 502,374 $ 417,048
============= =============
Liabilities and shareholders’ equity
(deficit)
Current liabilities:
Current maturities of long-term debt and
notes payable $ 255,641 $ 186,078
Accounts payable 59,372 66,231
Accrued expenses and other current
liabilities 32,618 45,830
Taxes payable 12,301 8,468
Deferred revenue 4,967 5,875
------------- -------------
Total current liabilities 364,899 312,482
Long-term debt and notes payable, less
current maturities 105,049 65,215
Deferred income taxes and other long-term
liabilities 9,159 11,271
------------- -------------
Total liabilities 479,107 388,968
------------- -------------
6.5% senior convertible participating shares 350,448 344,487
Shareholders’ equity (deficit):
Ordinary shares, 1.25 pence stated value 5,386 5,386
Additional paid-in capital 330,762 330,587
Accumulated deficit (663,329) (652,380)
------------- -------------
Total shareholders’ equity (deficit) (327,181) (316,407)
------------- -------------
Total liabilities and shareholders’ equity
(deficit) $ 502,374 $ 417,048
============= =============
Danka Business Systems PLC
Consolidated Condensed Statements of Cash Flows for the Three Months Ended
June 30, 2007 and 2006
(In thousands)
(Unaudited)
Three Months Ended June 30,
-----------------------------
2007 2006
------------- -------------
Operating activities:
Net earnings (loss) $ (4,956) $ (12,202)
(Earnings) loss from discontinued operations 1,005 457
------------- -------------
Earnings (loss) from continuing operations (3,951) (11,745)
Adjustments to reconcile net earnings (loss)
to net cash provided by (used in) operating
activities:
Depreciation and amortization 3,489 4,041
Deferred income taxes 364 (647)
Amortization of debt issuance costs 1 476
Non-cash stock-based compensation 176 --
(Gain) loss on sale of property &
equipment and equipment on operating
leases (916) 6
Proceeds from sale of equipment on
operating leases 29 --
Restructuring charges 1,258 6,061
Loss on sale of subsidiary, net of cash -- 2,103
Changes in net assets and liabilities:
Accounts receivable 4,177 7,246
Inventories (1,170) 1,685
Prepaid expenses and other current
assets (3,429) (964)
Other non-current assets 206 (1,024)
Accounts payable (6,859) (7,875)
Accrued expenses and other current
liabilities (17,831) (3,826)
Deferred revenue (908) (330)
Other long-term liabilities 534 (865)
------------- -------------
Net cash provided by (used in)
continuing operating activities (24,830) (5,658)
Net cash provided by (used in)
discontinued operating activities (1,005) (8,568)
------------- -------------
Net cash provided by (used in)
operating activities (25,835) (14,226)
------------- -------------
Investing activities:
Capital expenditures (1,724) (1,456)
Proceeds from sale of discontinued
Operations 12,500 --
Restricted cash (12,500) --
Proceeds from the sale of property and
equipment 1,508 --
------------- -------------
Net cash provided by (used in)
continuing investing activities (216) (1,456)
Net cash provided by (used in)
discontinued investing activities -- (1,706)
------------- -------------
Net cash provided by (used in)
investing activities (216) (3,162)
------------- -------------
Financing activities:
Borrowings under line of credit agreements 19,580 17,000
Payments under line of credit agreements (15,036) (15,922)
Payments under capital lease arrangements (147) (430)
Proceeds from debt issuance 105,000 --
Payment of debt issue costs (3,333) --
Restricted cash (89,495) --
------------- -------------
Net cash provided by (used in)
continuing financing activities 16,569 648
Net cash provided by (used in)
discontinued financing activities -- (85)
------------- -------------
Net cash (used in) provided by
financing activities 16,569 563
------------- -------------
Effect of exchange rates -- 2,737
------------- -------------
Net decrease in cash and cash
equivalents (9,482) (14,088)
Cash and cash equivalents from continuing
operations, beginning of period 17,594 24,467
Cash and cash equivalents from discontinued
operations, beginning of period -- 30,087
Cash and cash equivalents from discontinued
operations, end of period -- (19,675)
------------- -------------
Cash and cash equivalents from continuing
operations, end of period $ 8,112 $ 20,791
============= =============
Danka Business Systems PLC
Adjusted operating earnings (loss) from continuing operations for the three
months
ended June 30, 2007 and 2006
(in thousands)
(unaudited)
For the three
months ended
June 30, June 30,
2007 2006
-------- --------
Operating earnings (loss) from
continuing operations $ 1,800 $ (3,944)
Restructuring charges 1,258 6,061
Loss on sale of subsidiary - 2,507
Gain on sale of asset (923) -
-------- --------
Adjusted operating earnings (loss) from
continuing operations $ 2,135 $ 4,624
-------- --------
Danka Business Systems PLC
Free cash flow for the three months ended June 30, 2007 and 2006
(in thousands)
(unaudited)
For the three months
ended
June 30, June 30,
2007 2006
--------- ---------
Net cash provided by (used in)
continuing operations $ (24,830) $ (5,658)
Capital expenditures (1,724) (1,456)
Proceeds from sale of subsidiary 12,500 -
Restricted cash (12,500) -
Proceeds from sale of property and
equipment 1,508 -
--------- ---------
Free cash flow $ (25,046) $ (7,114)
--------- ---------
Danka Business Systems PLC
Net debt as of June 30, 2007 and March 31, 2007
(in thousands)
(unaudited)
June 30, March 31,
2007 2007
--------- ---------
Current maturities of long-term
debt and notes payable $ 255,641 $ 186,078
Long-term debt and notes payable 105,049 65,215
Less: Cash and cash equivalents and
restricted cash (274,698) (181,573)
--------- ---------
Net debt $ 85,992 $ 69,720
--------- ---------
Danka Business Systems PLC
Adjusted basic earnings (loss) available to common shareholders per ADS
(in thousands, except per ADS)
(unaudited)
For the three months
ended
June 30, June 30,
2007 2006
--------- ---------
Earnings (loss) from continuing
operations $ (3,951) $ (11,745)
Earnings (loss) from discontinued
operations (1,005) (457)
--------- ---------
Adjusted net earnings (loss) available
to common shareholders $ (4,956) $ (12,202)
========= =========
Adjusted net earnings (loss) available
to common shareholders per ADS $ (0.08) $ (0.19)
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Weighted average ADSs 64,767 64,132
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Contacts:
Danka Investor Relations
Cheley Howes
727-622-2760
The Dilenschneider Group
Rob Swadosh
212-922-0900 ext. 132
AERT 1.52 Advanced Environmental Recycling Technologies Announces Settlement of Lawsuit Business Wire "US Press Releases "
SPRINGDALE, Ark.--(BUSINESS WIRE)--
Advanced Environmental Recycling Technologies, Inc. (NASDAQ: AERT) today announced that it has agreed to the terms of a settlement with Certain underwriters at Lloyd's, London resolving litigation that arose in early 2005 concerning losses related to a fire in 2003. Under the settlement, Lloyd's agreed to pay the Company $700,000 and the parties provided mutual releases to one another.
About AERT:
Since 1989, AERT has pioneered the use of recycled polyethylene plastic in the manufacture of composite building materials. With its constantly evolving portfolio of patented and proprietary recycling technologies, AERT has been widely recognized as a leader in resource conservation innovation, receiving the EPA Award for Environmental Excellence for its process of converting scrap plastic to composite outdoor decking. AERT converts reclaimed plastic and wood fiber waste into quality outdoor decking systems, fence systems, and door and window components. The Company is the exclusive manufacturer of Weyerhaeuser ChoiceDek(R) decking, which is available in multiple colors and is sold in all Lowe's Home Improvement stores. See www.choicedek.com for more information. AERT operates manufacturing facilities in Springdale, Lowell, and Tontitown, Arkansas ; Junction, Texas ; and Alexandria, Louisiana . For more information on the Company, visit www.aertinc.com.
Source: Advanced Environmental Recycling Technologies, Inc.