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Stock is FLYING in premarket.
Oculus Innovative Sciences Receives FDA Clearance for Microcyn(R) Scar Management HydroGel
PETALUMA, Calif., Dec 04, 2013 (GLOBE NEWSWIRE via COMTEX) -- -- Oculus U.S Dermatology Partner, Quinnova Pharmaceuticals, Targeting U.S. Launch in Q2 2014
-- U.S. Double-Blind, Randomized Study for Scar Management Establishes Strong Foundation for International Approval
Oculus Innovative Sciences, Inc. OCLS +161.37% , a global healthcare company that designs, manufactures and markets prescription and non-prescription products in 27 countries, today announced that it has received a new 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the company's new Microcyn(R) Scar Management HydroGel. The Rx product, under the supervision of a healthcare professional, is intended for the management of old and new hypertrophic and keloid scarring resulting from burns, general surgical procedures and trauma wounds. Oculus U.S. dermatology partner, Quinnova Pharmaceuticals, intends to commercialize the product in the first half of 2014.
"We have known for years that there has been practitioner demand for an efficacious and safe prescription treatment to manage hypertrophic and keloid scarring," said Jeffrey Day, Quinnova Pharmaceuticals CEO. "Having seen first hand the compelling impact that our Microcyn-based Technology products have had on the management of conditions such as atopic dermatitis, we are equally excited about its potential as well in managing scars. The data from the FDA-required study certainly validates the product's potential in the dermatology space."
In addition to U.S. commercialization, Oculus is working with its international distributors and partners to bring this new scar product to patients throughout the globe, including Latin American partner, More Pharma, with anticipated commercialization in Mexico in 2014. Further product launches should follow shortly after in other Latin American countries as regulatory approvals are secured. In the Asian countries of China, Singapore, Malaysia and India, product launches are anticipated sometime after April 2014. Similarly, the scar product will be introduced in Kuwait, UAE, Jordan and Iraq in the same time frame.
As part of the FDA 510(k) review process, Oculus conducted a double-blind, multi-center randomized clinical study to demonstrate equivalency to a predicate device in scar management. The 40-patient study was conducted at four U.S. investigative sites over 16 weeks, ending March 2013. Qualified scars included linear or widespread hypertrophic or keloid scars. The age of target scars ranged between three months and one year. Investigators evaluated the qualified scar using the Vancouver Scar Scale, which assesses scar vascularity, height/thickness, pliability and pigmentation. In addition, pain and itch symptoms were evaluated by the subjects.
The VSS total score was calculated for each subject and visit as the sum of the scores reported for each of the three items (vascularity, pliability, and height). The VSS total score ranged from zero to nine. Individual sign and symptoms were summarized by treatment group. The count and percent of subjects in each category were presented for the VSS items of vascularity, pliability, and height, and for the subject assessment of scar symptoms for pain and itch.
In both the Microcyn HydroGel and the active control groups, the VSS total score improved consistently at each of the visits. At the end of treatment visit (Day 56), the mean VSS total score improvement from baseline was -2.10 in the Microcyn group, versus -1.28 in the control group. At the end of the study visit (Day 112), the mean VSS total score improvement was -2.70 in the Microcyn group and -1.83 in the control group. While both groups improved, the reductions were greater in both instances for the Microcyn group.
Individual signs and symptoms scores were evaluated throughout the study, which included improvement in itch and pain. The reductions from baseline in the mean individual signs and symptoms scores were greater in the Microcyn group.
"We are pleased to receive this scar management 510(k) clearance, which is the eighth FDA approval or clearance for our Microcyn-based products to date," said Jim Schutz, Oculus CEO. "We believe that Quinnova's dermatology sales and marketing expertise, and our strong supporting clinical data for this new product, is a winning combination for doctors and their patients. We look forward to sharing this new FDA clearance with our international partners to make this great product available outside the United States as soon as we clear international regulatory hurdles."
Scar Treatment Market
According to a 2003 report by Frost & Sullivan, it is estimated that 62 million scars are formed each year in the United States. There are about 93 million people in the United States suffering from scars, out of which about 169 million scars can be characterized as hypertrophic (raised) and keloid (red colored) scars. The raised and red scars market forms the primary target for the scar therapy products. Annually, about 600,000 visits for burns and more than 2.6 million emergency room visits for cut injuries, this forms the potential market for the scar therapy products. The statistics show that out of 6.2 million reconstructive procedures performed on patients in a year, 250,000 surgeries are related with scar revisions.
About Quinnova Pharmaceuticals, LLC.
A wholly owned subsidiary of AmDerma, LLC, Quinnova Pharmaceuticals, LLC. is a specialty pharmaceutical company founded on innovative, patent-protected dermal delivery technologies. The company's delivery platforms are utilized to transport safe and effective pharmaceutical ingredients through the epidermis in unique, convenient and cosmetically elegant formulations. Addressing a wide variety of skin conditions, it is Quinnova's mission to provide superior treatment solutions and product value to clinicians and patients alike. For more information, please visit www.quinnova.com.
About Oculus Innovative Sciences
Oculus Innovative Science is a global healthcare company that designs, manufactures and markets prescription and non-prescription products in 27 countries. The company's products are used to treat patients in surgical/advanced wound management, dermatology, women's health and animal health markets; addressing the unmet medical needs of these markets, while raising the standard of patient care and lowering overall healthcare costs. The company's headquarters are in Petaluma, California, with manufacturing operations in the United States and Latin America. More information can be found at www.oculusis.com.
Forward-Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about the commercial and technology progress and future financial performance of Oculus Innovative Sciences, Inc. and its subsidiaries (the "Company"). These forward-looking statements are identified by the use of words such as "issuance," "provides," and "tracking," among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary, including such risks that regulatory clinical and guideline developments may change, scientific data may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, protection offered by the Company's patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company's products will not be as large as expected, the Company's products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, the Company may not meet its future capital needs, the Company may not be able to obtain additional funding, as well as uncertainties relative to varying product formulations and a multitude of diverse regulatory and marketing requirements in different countries and municipalities, the uncertainties associated with an initial public offering of a separate public company, and the discretion of the Company's Board of Directors to delay or cancel the spinoff prior to execution, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the year ended March 31, 2013. The Company disclaims any obligation to update these forward-looking statements, except as required by law.
Oculus(R) and Microcyn(R) Technology are trademarks or registered trademarks of Oculus Innovative Sciences, Inc. All other trademarks and service marks are the property of their respective owners.
CONTACT: Media and Investor Contact:
Oculus Innovative Sciences, Inc.
Dan McFadden
VP of Public and Investor Relations
(425) 753-2105
dmcfadden@oculusis.com
http://www.marketwatch.com/story/oculus-innovative-sciences-receives-fda-clearance-for-microcynr-scar-management-hydrogel-2013-12-04?reflink=MW_news_stmp
Nevermind. I'm gonna buy some to make ya happy. Just kidding but will try to buy some. Thanks for sharing.
"At September 30, 2013, the Company had consolidated total assets of $88.4 million, net loans of $73.5 million, total deposits of $72.6 million and total stockholders’ equity of $10.2
million.http://finance.yahoo.com/news/sugar-creek-financial-corp-announces-210100565.html
Current market cap - $ 5.21 million
https://www.google.com/finance?q=OTCBB%3ASUGR&ei=TCufUrjPF5SLsgfq5gE
Sugar Creek Financial Corp. Announces Adoption of Plan of Conversion and Reorganization
Business Wire Sugar Creek Financial Corp.
16 hours ago
TRENTON, Ill.--(BUSINESS WIRE)--
Sugar Creek Financial Corp. (the “Company”) (SUGR), the parent company for Tempo Bank (the “Bank”), announced today that its Board of Directors, together with the Boards of Directors of Sugar Creek MHC (the “MHC”) and the Bank, have unanimously adopted a Plan of Conversion and Reorganization (the “Plan of Conversion”).
Pursuant to the Plan of Conversion, the MHC will sell its majority ownership in the Company in a “second-step” stock offering. Simultaneously, the Company, which is currently in the mutual holding company structure, will reorganize to a fully public stock holding company.
As part of the conversion and reorganization, the Bank will become a wholly owned subsidiary of a new holding company, which will be named Sugar Creek Financial Corp. Upon completion of the conversion and reorganization, shares of common stock of the Company held by the MHC will be canceled and those shares held by persons other than the MHC will be converted into shares of common stock of the new holding company pursuant to an exchange ratio intended to preserve the percentage ownership interests of such persons. In the stock offering, depositors of the Bank with qualifying deposits as of September 30, 2012 will have first priority to purchase the shares of common stock of the new holding company.
The conversion and reorganization will be subject to approval of the Bank’s depositors and certain borrowers, the stockholders of the Company (including the approval of a majority of the shares held by persons other than the MHC), and the Board of Governors of the Federal Reserve System.
Information, including the details of the offering and business and financial information about the Company and the Bank, will be provided in proxy materials and a prospectus when the offering commences, which is expected to be during the first calendar quarter of 2014.
Sugar Creek Financial Corp. is the parent company of Tempo Bank, a federally chartered savings bank headquartered in Trenton, Illinois. The Bank operates two full-service banking offices in Trenton and Breese, Illinois. The Company’s majority stockholder is the MHC, a federally chartered mutual holding company. At September 30, 2013, the Company had consolidated total assets of $88.4 million, net loans of $73.5 million, total deposits of $72.6 million and total stockholders’ equity of $10.2 million.
This release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer is made only by the prospectus when accompanied by a stock order form. The shares of common stock of the new holding company are not savings accounts or savings deposits, may lose value, and are not insured by the Federal Deposit Insurance Corporation or any other government agency.
This press release contains certain forward-looking statements about the conversion and reorganization. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the Plan of Conversion and Reorganization, difficulties in selling the conversion stock or in selling the conversion stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and Bank are engaged.
http://finance.yahoo.com/news/sugar-creek-financial-corp-announces-220000432.html
Contact:
Sugar Creek Financial Corp
Robert J. Stroh, Jr.
Chief Executive Officer and Chief Financial Officer
618-224-9228
Sugar Creek Financial Corp. Announces Cash Dividend
Business Wire Sugar Creek Financial Corp.
August 13, 2013 6:00 PM
TRENTON, Ill.--(BUSINESS WIRE)--
The Board of Directors of Sugar Creek Financial Corp. (the “Company”) (SUGR) today announced that it has declared a cash dividend on the Company’s outstanding shares of common stock. The dividend of $0.10 per share will be paid on or about September 13, 2013 to stockholders of record as of the close of business on August 29, 2013.
Sugar Creek MHC, the Company’s mutual holding company parent, will not waive receipt of the dividend.
Sugar Creek Financial Corp. is the parent company of Tempo Bank. Tempo Bank is headquartered in Trenton, Illinois with one other full-service branch in Breese, Illinois. The Bank is a full service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses within its market area.
http://finance.yahoo.com/news/sugar-creek-financial-corp-announces-220000432.html
A funny Jeopardy question..
Alen, bro..good company but severely low float. I'd hate to buy 10 stocks and pay 7 dollars to scottrade and then pay another 7 dollars to get out.
http://online.wsj.com/article/PR-CO-20131203-905533.html?dsk=y
FY2013 Highlights:
-- Company generates $11.8 million in cash from operations
-- Unit sales of 54.8 million units, 11% less than FY2012
-- Net revenues of $31.5 million
-- Operating income of $9.8 million
-- Diluted EPS of $0.50 vs. $0.53 in FY2012
-- Company increases quarterly cash dividend by 17% to $0.07 per share in March 2013
-- Company initiates review of option to potentially double production capacity
-- Operating margin of 31%
CHICAGO, Dec. 3, 2013 /PRNewswire/ -- The Female Health Company (NASDAQ-CM: FHCO), which manufactures and markets the FC2 Female Condom, today reported its financial results for the fourth quarter and fiscal year ended September 30, 2013. The Company will host an investor conference call today at 11:00 a.m. Eastern Time to discuss these operating results (see details below).
(Logo: http://photos.prnewswire.com/prnh/20120712/MM39764LOGO)
Management Comments
"The Company sold 54.8 million FC2 Female Condoms in Fiscal 2013, or 11% less than the record 61.6 million units sold in Fiscal 2012 but 36% above the previous record year in Fiscal 2009," stated O.B. Parrish, the Company's Chairman and Chief Executive Officer. "We believe the decrease in unit sales was due to public sector purchasing patterns and does not reflect any decrease in underlying demand for the product. The Company periodically experiences quarterly and/or annual variations in unit sales unrelated to underlying demand. On a longer-term basis, we believe that demand for FC2 remains robust and continues to grow at impressive rates, as reflected by the following: a 19% average annual compound unit growth rate during the eight-year period from Fiscal 2005 through Fiscal 2013; expansion in distribution to 143 countries in Fiscal 2013, compared with 138 countries in the previous fiscal year; and an increase of 43% in the number of locations where FC2 is available in New York City, from 1,001 in Fiscal 2012 to 1,436 in Fiscal 2013."
"The Company's overall financial performance was solid in Fiscal 2013. Despite an 11% decrease in unit sales, the Company's operating profit margin remained healthy at 31% of net revenues. During the fiscal year ended September 30, 2013 we generated $11.8 million in positive cash flow from operations, cash on hand increased 68% to $8.9 million after the payment of $7.5 million in dividends, and shareholders' equity increased 30% to $31.4 million. In early Fiscal 2013, the Company completed a 20% expansion in its production capacity to 100 million units annually. In view of pending tenders and other positive market indicators, we are currently exploring an option that would permit us to further double our production capacity on a modular basis as needed," concluded Parrish.
"We believe that several factors will continue to drive increased demand for FC2, including the feminization of HIV/AIDS and its expanding role in family planning," continued Parrish. "The global HIV/AIDS pandemic is currently the leading cause of death among women of reproductive age (15-44), and the female condom is the only female-controlled product that provides dual protection against both HIV/AIDS and unintended pregnancy. The Bill and Melinda Gates Foundation and the Government of the United Kingdom have initiated the Family Planning 2020 program (FP2020), which is designed to increase access to contraceptives to an additional 120 million women in 69 developing countries by the year 2020. In addition, global funding to battle sexually-transmitted diseases and to expand utilization of contraceptives has increased, as evidenced by $4.6 billion in commitments to fund the FP2020 program and the U.K. Government's commitment to provide $1.5 billion in funding to battle HIV/AIDS, Tuberculosis and Malaria over a three-year period."
Fiscal Year Results
For the fiscal year ended September 30, 2013, unit sales decreased 11% to 54.8 million units compared with 61.6 million units in FY2012. Net revenues decreased 10% to approximately $31.5 million in FY2013, compared with approximately $35.0 million in FY2012.
In the fiscal year ended September 30, 2013, gross profit decreased 15% to $17.5 million, or 56% of net revenues, compared with $20.6 million, or 59% of net revenues, in the fiscal year ended September 30, 2012.
Operating expenses decreased 20% in FY2013 to $7.7 million, compared with operating expenses of $9.7 million in the fiscal year ended September 30, 2012. The decrease was primarily due to a reduction in incentive awards, partially offset by increased spending in education and training and consulting expenses.
Operating income decreased 11% to $9.8 million in the fiscal year ended September 30, 2013, compared with $10.9 million in FY2012. The decrease is primarily due to the decrease in unit sales.
The Company reported net income of $14.3 million, or $0.50 per diluted share, in the fiscal year ended September 30, 2013, for a decrease of 6% when compared with net income of $15.3 million, or $0.53 per diluted share, in the fiscal year ended September 30, 2012. Currency losses of $101,288 and $148,269 were recorded in the fiscal years ended September 30, 2013 and 2012, respectively. The Company recorded a net tax benefit for FY2013 of $4.4 million, versus $4.5 million in FY2012. As of September 30, 2013, tax loss carryforwards of $19.2 million federal, $17.2 million state and $63.2 million in the U.K. were available to offset future earnings.
Fourth Quarter Results
For the three months ended September 30, 2013, unit sales decreased 52% when compared with the fourth quarter of FY2012. Net revenues decreased 52% to $4.8 million, compared with $9.9 million in the three months ended September 30, 2012.
Gross profit decreased 60% to $2.3 million, or 48% of net revenues, in the most recent quarter, compared with $5.8 million, or 58% of net revenues, in the fourth quarter of FY2012.
Operating expenses for the quarter ended September 30, 2013 decreased 79% to $0.5 million, versus operating expenses of $2.6 million in the fourth quarter of FY2012. The decrease was primarily due to a reduction in incentive awards.
Operating income decreased 45% to $1.7 million in the three months ended September 30, 2013, compared with $3.2 million in the prior-year quarter. The decrease was primarily due to lower unit sales.
The Company reported net income of $6.6 million, or $0.23 per diluted share, which represented a 19% decrease when compared with net income of $8.2 million, or $0.29 per diluted share, in the fourth quarter of FY2012. The Company recorded a currency loss of $1,115 and $78,975 during the quarters ended September 30, 2013 and 2012, respectively. The Company recorded a net tax benefit of $4.9 million in the fourth quarter versus a net tax benefit of $5.1 million in the prior-year quarter.
Cash Dividends
During FY2013, the Company generated positive cash flow from operations of approximately $11.8 million, paid two quarterly cash dividends of $0.06 per share each and two quarterly cash dividends of $0.07 per share each, and maintained a debt-free balance sheet. The amount of cash on the Company's balance sheet increased 68% during FY2013, to $8.9 million as of September 30, 2013, versus $5.3 million as of September 30, 2012. In March 2013, the Company's announced the 2(nd) increase in its quarterly dividend since it started paying cash dividends in FY2010. On November 6, 2013, the 16(th) consecutive quarterly cash dividend was paid in the amount of $0.07 per share. The Company's current quarterly cash dividend of $0.07 per share provides shareholders with an annualized yield of 3.0% based upon the closing price of FHCO shares on December 2, 2013.
Investor Conference Call
As previously announced, The Female Health Company will host an investor conference call at 11:00 a.m. Eastern Time, today, December 3, 2013, to discuss its fourth quarter operating results and other topics of interest. Shareholders and other interested parties may participate in the conference call by dialing 1-877-374-8416 (international participants dial 1-412-317-6716) and asking to be connected to "The Female Health Company Conference Call", a few minutes before 11:00 a.m. EST.
A replay of the conference call will be available one hour after the call through 9:00 a.m. EST on Tuesday, December 10, 2013 by dialing 1-877-344-7529 (international callers dial 1-412-317-0088) and entering the conference ID 10037276. After Tuesday, December 10, 2013, the replay of the call will be available on the Company's website at www.femalehealth.com.
About The Female Health Company
The Female Health Company, based in Chicago, Illinois, manufactures and markets the FC2 Female Condom(R) (FC2), which is available in the U.S. and approximately 143 other countries globally. The Company owns certain worldwide rights to the FC2 Female Condom(R), including patents that have been issued in a number of countries around the world. The patents cover the key aspects of FC2, including its overall design and manufacturing process. The FC2 Female Condom(R) is the only currently available female-controlled product approved by the FDA that offers dual protection against sexually transmitted diseases, including HIV/AIDS, and unintended pregnancy. The World Health Organization (WHO) has cleared FC2 for purchase by U.N. agencies.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
The statements in this release which are not historical fact are "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this release include statements regarding underlying demand for FC2 and the results of pending tenders, possible options to expand manufacturing capacity and the continuation of cash dividends in future periods. These statements are based upon the Company's current plans and strategies, and reflect the Company's current assessment of the risks and uncertainties related to its business, and are made as of the date of this release. The Company assumes no obligation to update any forward-looking statements contained in this release as a result of new information or future events, developments or circumstances. Such forward-looking statements are inherently subject to known and unknown risks and uncertainties. The Company's actual results and future developments could differ materially from the results or developments expressed in, or implied by, these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, the following: product demand and market acceptance; competition in the Company's markets and the risk of new competitors and new competitive product introductions; the Company's reliance on its international partners in the consumer sector and on the level of spending on the female condom by country governments, global donors and other public health organizations in the global public sector; the economic and business environment and the impact of government pressures; risks involved in doing business on an international level, including currency risks, regulatory requirements, political risks, export restrictions and other trade barriers; the Company's production capacity, efficiency and supply constraints; and other risks detailed in the Company's press releases, shareholder communications and Securities and Exchange Commission filings, including the Company's Form 10-K for the year ended September 30, 2013. Actual events affecting the Company and the impact of such events on the Company's operations may vary from those currently anticipated.
For more information about the Female Health Company visit the Company's website at http://www.femalehealth.com and http://www.femalecondom.org. If you would like to be added to the Company's e-mail alert list, please send an e-mail to FHCInvestor@femalehealthcompany.com
(Financial Highlights Follow)
The Female Health Company
Unaudited Condensed Consolidated Balance Sheets
September 30,
------------------------
2013 2012
----------- -----------
Cash $ 8,922,430 $ 5,295,462
Accounts receivable, net 2,362,165 7,268,917
Income tax receivable 78,440 27,369
Inventory, net 2,459,417 1,458,199
Prepaid expenses and other current assets 514,213 624,268
Deferred income taxes 2,552,000 2,152,000
---------- ----------
Total current assets 16,888,665 16,826,215
Other non-current assets 138,458 122,336
Plant and equipment, net 2,094,830 2,349,876
Deferred income taxes 16,048,000 11,148,000
---------- ----------
Total assets $35,169,953 $30,446,427
========== ==========
Accounts payable $ 904,049 $ 1,775,327
Accrued expenses and other current liabilities 1,540,457 1,120,302
Accrued compensation 962,693 2,964,812
---------- ----------
Total current liabilities 3,407,199 5,860,441
Deferred rent 66,799 90,902
Deferred grant income 57,819 82,650
Deferred income taxes 235,179 194,244
---------- ----------
Total liabilities 3,766,996 6,228,237
Total stockholders' equity 31,402,957 24,218,190
---------- ----------
Total liabilities and stockholders' equity $35,169,953 $30,446,427
========== ==========
The Female Health Company
Unaudited Condensed Consolidated Income Statements
Three Months Ended
September 30,
--------------------------
2013 2012
------------ ------------
Net revenues $ 4,789,187 $ 9,911,701
Cost of sales 2,514,224 4,161,537
----------- -----------
Gross profit 2,274,963 5,750,164
Operating expenses 532,983 2,564,791
----------- -----------
Operating income 1,741,980 3,185,373
Interest and other expense (30,421) (551)
Foreign currency transaction loss (1,115) (78,975)
----------- -----------
Income before income taxes 1,710,444 3,105,847
Income tax benefit (4,879,728) (5,079,358)
----------- -----------
Net income $ 6,590,172 $ 8,185,205
=========== ===========
Net income per basic common share outstanding $ 0.23 $ 0.29
Basic weighted average common shares
outstanding 28,400,776 28,180,001
Net income per diluted common share
outstanding $ 0.23 $ 0.29
Diluted weighted average common shares
outstanding 28,759,584 28,678,081
Cash dividends declared per common share $ 0.07 $ 0.06
The Female Health Company
Unaudited Condensed Consolidated Income Statements
Year Ended
September 30,
--------------------------
2013 2012
------------ ------------
Net revenues $ 31,456,778 $ 35,033,897
Cost of sales 13,952,420 14,412,884
----------- -----------
Gross profit 17,504,358 20,621,013
Operating expenses 7,714,761 9,681,083
----------- -----------
Operating income 9,789,597 10,939,930
Interest and other income 245,545 362
Foreign currency transaction loss (101,288) (148,269)
----------- -----------
Income before income taxes 9,933,854 10,792,023
Income tax benefit (4,408,744) (4,507,298)
----------- -----------
Net income $ 14,342,598 $ 15,299,321
=========== ===========
Net income per basic common share outstanding $ 0.51 $ 0.55
Basic weighted average common shares
outstanding 28,376,607 27,693,721
Net income per diluted common share
outstanding $ 0.50 $ 0.53
Diluted weighted average common shares
outstanding 28,726,478 28,933,144
Cash dividends declared per common share $ 0.26 $ 0.22
SOURCE The Female Health Company
/CONTACT: William R. Gargiulo, Jr., 231.526.1244, or Michele Greco, CFO, 312.595.9123
/Web site: http://www.femalehealth.com
Get the damn membership..lol. It's no fun to talk public for me. I've been following Barca for many years. I saw Messi's first match. Used to skip class to watch the Champion's league games.
Salon.com is a good website. I don't know about your other all in stock.
You mised OXBC few years ago and I missed it few weeks ago when my very good friend 56Chevy alerted me. I lived in Michigan for 2 years and somehow I never went to the area where Oxford Bank operates. So I passed. Stupid. I do own another Michigan bank - BBBI. It's a good bank but very slow but keep in mind..BBBI operates in Beverly Hills of Michigan. Book value is more than 7. I guess you're looking for awesome stocks only. I'm also looking for awesome stocks but it has not been my way so far. We need Messi and Valdez back.
Alen, salon looks good but so thin. Check MFBP. BV is more than 11. Just bought today some at 3.35. small banks doing great. I read an investor's letter that was mailed to me. It included the overall community bank industry overview. It says there are still more than 60 % of community banks that are selling for less than book. Until 2008, only 5% were selling for less than book. Time has changed and it is not 2009 or 2010. Barca lost twice, if you follow the same barca that I do. Need Messi back along with Valdes.
LOL..happens all the time. TCPA went up about 50 per cent and there are no posts either. Although it took few months.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=91654571
What's your thought on this stock...ZGNX
Someone I know said they have an FDA approved drug which is more stronger pain medication than currently available. There are recent insider buys and there's an ihub board here as well as a seeking alpha article. I don't know much about Bio stock but the drug that has been approved seems like it may be used by patients all over. Below is all the info I have. They are not profitable and have lost 40 million in the last 9 months. Same thing they did last year. Thanks.
http://www.nytimes.com/2013/11/16/business/addiction-specialists-wary-of-new-painkiller.html?_r=0
http://investorshub.advfn.com/Zogenix-ZGNX-12193/
http://seekingalpha.com/article/1852901-zogenix-the-3-main-hurdles-for-zohydro
Hope it is more than the Nov 5 closing price of 3.8.
"Our common stock is listed on the Nasdaq Global Market under the symbol “ACFC.” On November 5, 2013, the last reported sale price for our common stock was $3.80 per share."
Atlantic Coast Financial Corporation Commences Public Offering of Common Stock
Company Release - 11/19/2013 16:05
JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Atlantic Coast Financial Corporation (the "Company") (NASDAQ: ACFC), the holding company for Atlantic Coast Bank (the "Bank"), today announced that it has commenced an underwritten public offering of $42 million of its common stock. FBR Capital Markets & Co. is acting as the sole book-running manager for the offering. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold, solely to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed.
The Company intends to use the net proceeds of the offering for general corporate purposes, including contributing substantially all of the net proceeds of the offering to the Bank to maintain capital ratios at required levels and to support growth in the Bank's loan and investment portfolios.
A registration statement has been filed by the Company relating to the public offering of the shares of common stock with the Securities and Exchange Commission ("SEC"), but has not yet become effective. The shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The registration statement and other Company filings with the SEC are available on the SEC's website located at www.sec.gov. The offering may be made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained from FBR Capital Markets & Co., Prospectus Department, 1001 19th Street North, Arlington, VA 22209, (703) 312-9726 or prospectuses@fbr.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About the Company
Atlantic Coast Financial Corporation is the holding company for Atlantic Coast Bank, a federally chartered and insured stock savings bank. It is a community-oriented financial institution serving northeastern Florida and southeastern Georgia markets.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by words such as "will," "expected," "believe," and "prospects," involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends and changes in interest rates, increased competition, changes in demand for financial services, the state of the banking industry generally, the uncertainties associated with newly developed or acquired operations, and market disruptions. The Company undertakes no obligation to publicly release revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported under the rules and regulations of the Securities and Exchange Commission.
Corporate Communications, Inc.
Patrick Watson, 615-324-7309
pat.watson@cci-ir.com
Source: Atlantic Coast Financial Corporation
http://www.snl.com/irweblinkx/file.aspx?IID=4086903&FID=20905036
Some highlights from Pre-Effective Amendment No. 2 to
FORM S-1.
http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=9598833-809-314213&type=sect&TabIndex=2&companyid=749177&ppu=%252fdefault.aspx%253fsym%253dACFC
1. The Jacksonville metropolitan statistical area (MSA), with deposits of $48 billion as of June 30, 2013, is the third largest market in Florida by deposits, with an above average compounded annual deposit growth rate of 7.6% from 2008 to 2013 compared to 3.2% for the state of Florida.
2. Due to the Jacksonville MSA’s improving economy, the unemployment rate has declined from 11.4% at its peak in January 2010 to 6.7% at August 31, 2013. The northeast Florida economy is trending up with single family home sales increasing from 12,586 in 2008, to 17,718 in 2012 and 21,884 on an annualized basis through September 30, 2013. Average median home prices have followed this upward trend increasing from $125,000 in December 2011 to $135,000 in December 2012 and $170,600 through September 30, 2013.
3. Our adjusted net loss for the first nine months of 2013 was $3.2 million or $1.29 per diluted share, respectively.
4. Warehouse Lending and SBA Lending . We will use the new capital raised in this offering to continue to expand our warehouse lending and SBA lending activities. Since 2009, when we first entered the warehouse lending business, we experienced steady growth in our warehouse lending business and we currently have annualized production of approximately $1.1 billion resulting in average outstanding balances of $49.0 million. The average yield on warehouse loans in 2013 is 5.07%. We entered the SBA lending business in late 2010 and have quickly become a local market leader with annualized sales of $8.6 million resulting in annualized gains of $1.1 million. The growth in both lines of business has been constrained due to our capital and liquidity issues. We believe that both warehouse and SBA lending are very profitable and, with the proper level of capital, expect these lines of business to experience significant growth.
5. Atlantic Coast Bank’s capital classification as of September 30, 2013, was adequately capitalized.
Repeated with link..
Brunswick Bancorp (BRBW) Key Developments
Brunswick Bancorp Announces Unaudited Consolidated Earnings Results for the Quarter Ended September 30, 2013
Oct 21 13
Brunswick Bancorp announced unaudited consolidated earnings results for the quarter ended September 30, 2013. For the period, the company reported total interest income of $4,349,902, net interest income of $4,000,037, net interest income after provision for loan losses of $4,000,037, income before income tax expense of $578,462 and net income of $457,962 or $0.16 per basic share.
Brunswick Bancorp Announces Unaudited Consolidated Earnings Results for the Quarter Ended June 30, 2013
Jul 15 13
Brunswick Bancorp announced unaudited consolidated earnings results for the quarter ended June 30, 2013. For the period, the company reported total interest income of $2,868,929, net interest income of $2,634,797, net interest income after provision for loan losses of $2,634,797, income before income tax expense of $358,009 and net income of $347,009 or $0.04 per basic share.
Brunswick Bancorp Reports Unaudited Consolidated Earning Results for the Quarter Ended March 31, 2013
Apr 15 13
Brunswick Bancorp reported unaudited consolidated earning results for the quarter ended March 31, 2013. For the quarter, the company reported total interest income of $1,414,152, net interest income of $1,298,843, income before income tax expense of $176,515, net income of $170,515 or $0.06 per basic share.
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=BRBW
BV = 11.93 as of Septemeber 2013. Currently at 4.88
http://finance.yahoo.com/q/ks?s=BRBW+Key+Statistics
Brunswick Bancorp Announces Unaudited Consolidated Earnings Results for the Quarter Ended September 30, 2013
Oct 21 13
Brunswick Bancorp announced unaudited consolidated earnings results for the quarter ended September 30, 2013. For the period, the company reported total interest income of $4,349,902, net interest income of $4,000,037, net interest income after provision for loan losses of $4,000,037, income before income tax expense of $578,462 and net income of $457,962 or $0.16 per basic share.
Brunswick Bancorp Announces Unaudited Consolidated Earnings Results for the Quarter Ended June 30, 2013
Jul 15 13
Brunswick Bancorp announced unaudited consolidated earnings results for the quarter ended June 30, 2013. For the period, the company reported total interest income of $2,868,929, net interest income of $2,634,797, net interest income after provision for loan losses of $2,634,797, income before income tax expense of $358,009 and net income of $347,009 or $0.04 per basic share.
Brunswick Bancorp Reports Unaudited Consolidated Earning Results for the Quarter Ended March 31, 2013
Apr 15 13
Brunswick Bancorp reported unaudited consolidated earning results for the quarter ended March 31, 2013. For the quarter, the company reported total interest income of $1,414,152, net interest income of $1,298,843, income before income tax expense of $176,515, net income of $170,515 or $0.06 per basic share.
BBBI Address -
33583 Woodward Ave.
Birmingham, MI 48009
Birmingham is the most expensive neighborhood of Detroit MI area. Mostly upper class people live there. Executives of GM/Chrysler and doctors, investors etc.
GROSSE POINTE, Mich.—Just outside bankrupt Detroit, where thousands of homes are being sold this week at auction for as little as $500, real estate is hot again.
After years of slow sales and depressed prices, homes here in some of the wealthiest communities around the Motor City now receive multiple offers as inventory shrinks. Prospective buyers often carry big wads of cash, and some of the most sought-after properties change hands in super-secret "whisper listings," according to local brokers.
If the city of Detroit has run out of money, many home buyers in the region appear to be taking little notice.
"You try to get your people in the house the day it lists, because it might sell right away," said Pat Chasteen, a real-estate agent with Monaghan GMAC in Grosse Pointe Farms. She spent nearly every night last week closing deals and met her first client Friday at 6:30 a.m.
Enlarge Image
Five years ago, when auto sales crashed and two of the Detroit Three auto makers filed for bankruptcy, car plants closed, thousands lost their jobs and those who held on were stripped of pay, benefits, and bonuses. But in recent years, the car companies have posted record profits, while salaried and union workers collected some of their biggest bonus checks in history.
Home prices are rising here as fast as any major metropolitan market in the country, attracting some new investors, said Jed Kolko, chief economist at Trulia, a real-estate website.
To be sure, Detroit and its suburbs are still digging out of a big hole. The region's housing lost about 36% of its value during the recession, and its value remains 28% below pre-recession levels, according to housing and mortgage-refinancing data tracked by the Southeast Michigan Council of Governments.
In addition, the Detroit region is still seeing little new residential construction. And the market has the nation's highest home-vacancy rate after suffering from two decades of the country's worst job losses.
Related
A Symbol of Decay Gets a New Shot
"We have a long way to go, but I think we're starting to turn a corner," said Brian Parthum, economic analyst at the Southeast Michigan council.
"What we know is that during the housing boom, Detroit did not do nearly as well as the rest of the country, and suffered more on the way down," said Craig Lazzara, senior director, S&P Dow Jones Indices. "But it's had a much bigger bounce off the most recent bottom."
Increasingly, it's a tale of two Detroits, the beleaguered city in bankruptcy court with few jobs and abundant vacant property, and the larger metropolitan region bouncing back gradually with falling unemployment and rising home sales.
Across four counties that comprise metro Detroit, the median home price jumped 48% in September over a year ago, and the number of sales rose 7%, according to sales figures compiled by Realcomp, a multiple-listing service in Farmington Hills, Mich.
"It's like someone turned off the water five years ago and just turned it back on," said John Hannett, a real-estate agent based in the tony northern suburb of Birmingham who has sold property for almost a half-century.
But the upswing in the market touches few places in the city of Detroit, where state-appointed leaders filed for bankruptcy protection in July, citing an estimated $18 billion in long-term debt. Sales in the city of Detroit fell last month 13%, compared with the same month a year ago. The median sales price of a home in Detroit last month was $11,000.
Real-estate agents say sales are up in the city's downtown and nearby Midtown, but that potential buyers are often frustrated by Detroit's high taxes, spotty public safety, shaky public schools and antiquated assessment system that often overvalues property and prevents traditional financing.
"I was very apprehensive about which areas were safe, but I never really wanted to move out of Detroit," said Lisa Card, a 41-year-old special-education teacher and mother of two who moved back from the suburbs and closed in August on a $74,000, three-bedroom, bank-owned house on the city's east side.
Foreclosures continue to haunt the city. This fall, Wayne County is trying to sell at auction 18,000 properties—90% in Detroit—that failed to pay their taxes for at least three years. In the first round of the auction, only 880 were sold. In the final round of the auction ending Oct. 25, bids start as low as $500.
Critics say the massive auction keeps real-estate prices in the city low. And new buyers often fail to pay taxes, pushing the properties back into tax foreclosure, said the county's chief deputy treasurer, David Szymanski.
Still, buyers outside the city like 34-year-old Stanley Adams, a pilot, and his wife, an automotive engineer at General Motors who was transferred back to Detroit, see now as the time to invest.
Last Tuesday, the couple living in northeast Ohio closed on a 3,000-square-foot, two-story colonial in Grosse Pointe Park, paying over list price after the property received multiple offers. The four-bedroom home, which was listed for $384,000, lasted six days on the market.
"We wanted close access to downtown where my wife works," Mr. Adams said. "But it's separated and somewhat insulated from the issues downtown."
First South Bancorp, Inc. Reports Quarterly Loan and Asset Growth, Improved Asset Quality and Year-to-Date Increase in Operating Results
http://finance.yahoo.com/news/first-south-bancorp-inc-reports-183000021.html
More than 40k worth of buy by a director. This company will do well in the coming years..I think
http://www.filing4.com/company/797465/transaction/
As long as Yelp has no competitor..they'll go even higher up. Angie's list or craig's list are the ones come to mind but they're not real competitors.
They're hiring in ND..
http://bismarck.craigslist.org/ret/4088017214.html
This hotel is in a very quiet location at ihub.
http://www.chattanoogan.com/2013/9/26/259981/Charter-Director-Lawrence-Levine.aspx
After 18 years of loyal service as a charter board member, Lawrence D. Levine retired from the Cornerstone Bancshares, Inc. board of directors on Monday. He was honored at a celebration with his family and fellow board members at Cornerstone’s monthly board meeting on that same date.
“Lawrence has been a pivotal part of Cornerstone since its beginnings,” said Cornerstone’s Board Chairman Miller Welborn. “We are eternally grateful for his dedication, leadership and faithful service.”
A native of Chattanooga, Mr. Levine graduated from The Baylor School in 1947 and the University of Tennessee in Knoxville in 1952. He served in the U.S. Army from 1953-1955. After his discharge with the rank of Sergeant, Mr. Levine worked for four years in the retail jewelry business before beginning a career in the insurance industry that spanned 52 years. He retired in 2011 as an independent insurance broker specializing in commercial property and casualty insurance.
In addition to serving on the Cornerstone Bancshares, Inc. and Cornerstone Bancshares Foundation boards, Mr. Levine also served on the Baylor School board of trustees from 1992-1998 and was past president of the Arts & Education Council, Insurers of Chattanooga, Insurers of Tennessee, Mizpah Congregation, the National Association for The Craniofacially Handicapped, St. Barnabas Nursing Home and Apartments, and the University of Tennessee Hamilton County Alumni Association. His honors include being named Tennessee Insurer of the Year in 1970, and Chattanooga Insurer of the Year in 1978. In addition, he is recipient of the Baylor School Distinguished Alumnus Award in 1978, Mizpah Congregation Tree of Life Award in 1990, and Baylor School Volunteer of the Year in 1996.
Mr. Levine will continue to serve as an advisory director for Cornerstone but says he looks forward to spending more time with his family, including his wife, Anita Siskin Levine; two children, Margaret Levine of Nashville; and Maurice Levine of Columbus, Oh.; and two grandchildren.
“Cornerstone stands as the strong community bank it is today largely due to Lawrence’s vision and sound guidance through the years,” said Mr. Welborn. “We are forever indebted to him for his many contributions.”
wanna buy right now.
http://www.sonics.biz/about-news-section.php?sectionID=1&articleID=60
Sonics to display new Ultrasonic Metal Welding System at the Assembly Show
September 17th, 2013
20 kHz System Features Patented Left and Right Nodal Mounting Systems and Color Touchscreen Controller
Sonics & Materials, Inc. will be demonstrating its newly re-designed MW20 Ultrasonic Spot Welding System, now available in both right and left versions allowing multiple welders to be located within close proximity. The system’s M-Series power supply provides microprocessor control, color touchscreen interface, power graphing and electronic pressure regulation in power levels from 1500 to 4000 Watts.
The MW20 is engineered to provide highly repeatable results with production-friendly features, such as the patented nodal mounting system that allows for industry-leading quick stack changes. The self-orienting horn and tips are cost effective and simple to replace. The lab version has a large ground steel base that allows for easy tooling changes and integrated operator controls. A large anvil stage with independent x-y adjustment facilitates part fixturing and precision down/up stops provide total motion control.
Other standard features include convenient weld quality data storage options, upper and lower weld parameter limits, barcode reader and PLC interfaces. All models include soft-start overload protection circuitry, load regulation circuitry and power factor correction.
About Sonics
Since 1969, Sonics & Materials, Inc. has been a world leader in the field of ultrasonic welding technology, manufacturing the industry’s most advanced welding systems, including large-part linear vibration welders and spin welding machines. The company, which is ISO 9001 certified, designs and builds a complete line of hand-held, bench-top and semi-automated welding systems, and offers in-house application assistance, materials testing laboratory service, global sales and distribution network and on-site field service. Automotive, industrial, medical, packaging, toy, appliance, consumer and synthetic textile manufacturers around the world use Sonics’ standard or customized equipment to weld the full spectrum of commodity and engineering materials.
Sonics & Materials, Inc., 53 Church Hill Road, Newtown, CT 06470, USA
Phone: (203) 270-4600, Fax: (203) 270-4610, Toll Free in USA: (800) 745-1105
Email: info@sonics.com, or visit the company’s website at www.sonics.com
Sonics and Sonics & Materials are registered in U.S. Patent and Trademark Office.
and there are some insider activities
http://www.filing4.com/company/707605/transaction/
Very undervalued according to Yahoo
http://finance.yahoo.com/q/ks?s=ASRV+Key+Statistics
BV is 4.7 but MV is 3.15
Austin, Texas, August 6, 2013 -
Ross R. Moody, President of National Western Life Insurance Company (Nasdaq: NWLI), announced today second quarter 2013 consolidated net earnings of $27.0 million, or $7.62 per diluted Class A common share, compared with consolidated net earnings of $23.2 million, or $6.58 per diluted Class A common share, for the second quarter of 2012. For the six months ended June 30, 2013, the Company reported consolidated net earnings of $43.6 million, or $12.32 per diluted Class A common share, compared with $43.0 million, or $12.16 per diluted Class A common share, a year ago. The Company's book value per share as of June 30, 2013 was $385.22.
https://www.nationalwesternlife.com/financial.aspx?sub=news
Lots of good news about hotel industry on the web..
http://www.bizjournals.com/dallas/news/2013/09/20/dallas-investor-to-significantly.html
http://www.forbes.com/sites/halahtouryalai/2013/09/05/the-new-hotel-tycoons-why-private-equity-loves-the-lodging-industry/
http://www.hotelnewsresource.com/article73980.html
a
Ya they do until Jan 31, 2014.
http://www.tribtown.com/view/local_story/Cummins-expects-sales-to-roar_1379444023
Cummins Inc.'s leading executives said Tuesday that new products and tougher emissions standards across the globe would allow the engine maker by 2018 to reach annual sales of between $25 billion and $31 billion. Last year, the company reported sales of $17.3 billion.
Executives, including Chief Executive Officer Tom Linebarger, told about 100 Wall Street analysts and shareholders that the company expects its revenues to rise at two to three times the growth rate of global Gross Domestic Product over the next five years. Whether sales would reach $31 billion or $25 billion will depend on global economic conditions, the company said in a press release.
The company would not say how the projected sales growth would affect employment.
For the full story, see Wednesday's edition of The Tribune.
Received a write up on your pick..
art32js has just posted a new topic entitled "RDX Technologies Corp" in forum "Applicant Ideas".
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RDX Technologies Corp
TSX V.RDX US RGDEF
Current price $.21
Shares outstanding 170m
Based on the company’s August 29 conference call and Q and A session the company has accomplished a significant turnaround. The information in this report is based on that conference call and Sedar filings. After selling two divisions the company is now a waste water treatment company deriving effluent from waste water and oil and gas waste and converting this effluent to energy. The company has two facilities, one in Santa Fe Springs California and one in Carthage Missouri. The Carthage facility uses organic waste and waste oil and grease to produce fuel products that are classified as advanced biofuels by the EPA. These fuels are utilized for stationary industrial equipment such as boilers and generators. I asked the company how much of this fuel they are producing and this was their reply:
We aren't breaking out volume run-rate at the two facilities, but to give you a better understanding of our targets, the amount of effluent that we can mine out of waste water is about 10% to 12% of the gross volume. If you bring in 200,000 gallons a day you're going to get approximately 20,000 to 30,000 gallons of effluent that is mined out of that water as it's being treated that can be converted to energy. We are currently successfully selling anywhere from 110,000 to 150,000 gallons a week of that energy, which is a big part of our success.
The Santa Fe facility currently produces only the raw material for this fuel and ships it to Carthage but is expected to begin producing the fuel shortly. In accepting waste water for processing the company searches for waste water sources from which they can obtain effluent that can be converted to fuel.
During the June quarter the company reported negative EBITDA but the estimated results for July and August indicate a positive figure in excess of $7m annually. The annual sales estimate is in excess of $40m. The company has simplified its corporate personnel structure and substantially reduced its SG&A expenses.
The CEO of the company is Dennis Danzig who has extensive engineering experience. Over a period of years he has developed an improved process and associated equipment for processing and removing effluent from waste water which the company has installed at its facilities.
The Santa Fe Springs facility has significant environmental problems. The facility is on 18 acres and contains a number of large tanks containing organic waste which have been there for 15 to 20 years. The company has a $5 million contract to remediate the site, has obtained the necessary permits, and has commenced work on the project.
In addition to the cost of acquiring the facilities, fixing their operational problems and installing the new equipment was time consuming and expensive. The company financed this by issuing a series of stock offerings at, unfortunately, successively lower prices. This accounts for the very large number of shares outstanding for a small company and perhaps the current share price . There are also about 16m warrants and options outstanding, a substantial number of these have exercise prices that are double or triple the current stock price. Management has pledged not to sell more shares and is instituting a buyback program but this will probably have to wait for a continuation of the favorable results reported recently.
At the end of the June quarter, after adjusting for the two divisions subsequently sold, financials included (in millions)
Cash .9 Accounts payable 5.8
Current assets 7.9 Current liabilities 12.5
Plant & equipment 53.4 Non current liabilities 33
Intangibles & Goodwill 26.3
Total assets 98 Total equity 52
As of the August 29 conference call, as a result of the consummation of the sale of the two divisions and the improved operating results, the cash position had improved to $4.5m and the accounts payable had improved to $4.2m. The accounts receivable were essentially the same. The company’s financials have clearly improved but there is still some work to do.
The company’s plans for 2013 call for increasing the output of it’s two facilities which should not require any significant capital expenditures. So that if current trends continue their financial position should continue to improve.. Earlier the company was considering using it’s water treatment technologies to service the oil and gas industry but these plans have clearly been put on hold.
As of this date future expansion plans involve the acquisition of additional waste water treatment facilities. The company reports that there are a number of waste water processing facilities that are “financially distressed” and could be future acquisition possibilities. The company is currently demonstrating that it can operate these facilities profitably. Should the company’s progress continue they would presumably be in a position to acquire additional facilities over time.
The stock price has not responded to the information provided in the conference call, perhaps awaiting confirmation in the report for the September quarter. If the sharp improvement in the company’s results reported in the conference call are sustainable, as management asserts, the company seems to be undervalued and to have significant longer term growth prospects. Assuming a not unreasonable 1 for 10 reverse split the stock could be more attractive than one selling for pennies per share.
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Some buying..Rails and oil boom go along to the refinery. I think
http://www.sec.gov/Archives/edgar/data/764897/000118143113049160/xslF345X03/rrd390561.xml
FMBM- what is your thought? It is based out of West Virginia. Fracking is booming in WV.
http://finance.yahoo.com/q/ks?s=FMBM+Key+Statistics
What is the thought on BBBI? It's a small bank in Birmingham, Michigan. All big 3 car companies are doing great. There is a 10k bid since last week for 5.10.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=89630639
While the market is hung up on what will happen in the Middle East and when the Federal Reserve will back off its loose monetary policy, many small companies are still growing earnings at significant rates.
One such company is a small footwear and apparel company that is discovering new product channels as a way to increase sales. Rocky Brands (NASDAQ: RCKY) has the highest earnings per share (EPS) growth rate in the footwear industry. The company just posted EPS growth of 700 percent in its recent quarter.
Nonetheless, the stock is undervalued and trades at a price-to-earnings (P/E) ratio of only 11. Due to strong sales, EPS growth and cheap valuation, Rocky Brands has 50 percent price appreciation potential in the next year.
Rocky Brands is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well-recognized brand names including Rocky, Georgia Boot, Durango, Lehigh, and the licensed brand Michelin Footwear.
For the second quarter of 2013, net sales increased 33.8 percent to $59.4 million versus net sales of $44.4 million for the second quarter of 2012. Net income increased 700 percent to $1.8 million, or $0.24 in EPS, for the second quarter of 2013, versus net income of $0.2 million, or $0.03 in EPS, for the second quarter of 2012.
For the first six months of 2013, net sales increased 15.8 percent to $113.1 million versus net sales of $97.7 million in the first half of 2012. Net income increased 170 percent to $2.7 million, or $0.35 in EPS, for the first half of 2013, versus net income of $0.9 million, or $0.13 in EPS, for the first half of 2012.
The second quarter marked the third consecutive quarter of positive sales growth for the retail division. The company continues to make important progress transitioning the majority of its Lehigh business-to-business (B2B) operations to the Internet.
Orders on the company’s websites were up 65 percent from Q2 last year and are expected to see similar trends over the next couple of quarters. Currently, 78 percent of all B2B sales for the company are through web or catalog versus 65 percent for the same period a year ago.
The company has increased productivity in the direct to consumer eCommerce channel by investing in more resources to drive traffic to its Rocky, Georgia and Durango websites. It also added features such as product videos and enhanced search functionality to improve the consumer experience and increase conversion rates.
Rocky Brands is a small cap stock with a market cap of only $118 million. However, the current enterprise value of the stock is $147 million, meaning the stock trades at 80 percent of this value. The stock is considerably undervalued, as it trades at a P/E of 11 and has a current price-to-sales ratio of 0.5. Both of these valuation metrics for Rocky Brands places the stock in the 40th percentile within the apparel goods industry. Additionally, the stock trades at 0.94 of its current book value.
Rocky Brands pays a quarterly dividend of $0.10 for an annual dividend yield of 2.53 percent. There is significant room for increasing dividends, because the payout ratio is only 7 percent.
The stock is up 36 percent in the past year. Rocky Brands has sold off in the past week, so now may be a great time to start to build a position in the stock.
Zacks Investment Research has an outperform rating on the stock. Also, the stock has a Fidelity equity summary score of 8.4 out of 10 for a Bullish outlook.
Rocky Brands expects to hit EPS of $1.42 in 2013, with EPS projected to increase 15.5 percent to $1.64 in 2014. Based on a conservative P/E of 15, Rocky Brands has a 12-month price target of $24.60, an increase of 50 percent from the current stock price.
http://www.investingdaily.com/18291/walk-the-rocky-road-to-profits/
After the bell on Tuesday, Oxford Industries (OXM) announced its second quarter earnings, posting a 14% increase in net sales from last year’s same quarter.
The Atlanta, GA-based apparel company announced second quarter consolidated net sales of $235 million, which were up from last year’s Q2 figure of $206.9 million. The company’s EPS, on an adjusted basis, came in at $1.01, a 55% increase from last year’s 65 cents.
Oxford Industries beat analysts’ Q2 EPS estimates of 98 cents, but missed the analyst revenue consensus of $243.5 million.
Looking forward to full-year 2013, Oxford Industries lowered its EPS guidance to a range of $2.90 to $3.05. This comes in below the analysts’ consensus of $3.12.
OXM shares were up 86 cents, or 1.33%, at the end of trading on Tuesday. YTD the stock is up more than 40%.
The Bottom Line
Shares of Oxford Industries (OXM) have a yield of 1.11% based on Tuesday’s closing price of $64.72 and the company’s annualized payout of 72 cents.
http://www.dividend.com/news/2013/oxford-industries-posts-higher-q2-net-sales-eps-beats-eps-estimates-oxm/