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Fat america should be happy. You now never have to worry about not being able to get a cupcake.
AMNF .90 someone liked the news
Tootie Pie Company Records 19% Net Profit
PrintAlert
Tootie Pie Co. (QB) (USOTC:TOOT)
Intraday Stock Chart
Today : Friday 17 February 2012
Tootie Pie Company Records 19% Net Profit
PR Newswire
SAN ANTONIO, Feb. 17, 2012
SAN ANTONIO, Feb. 17, 2012 /PRNewswire/ -- Tootie Pie Company, Inc. (OTCQB:TOOT) reported a net profit of $233,494, or 19%, on revenues of $1,252,588 for the period ending December 31, 2011, versus a loss of $38,514 on revenues of $1,061,215 for same period in 2010.
"This is a turning point for Tootie Pie Company," reported Don L. Merrill, Jr. President & CEO. "We improved our cash flow by close to a million dollars over the last twelve months. Our Tootie Pie Gourmet Cafes are contributing to our bottom line by adding significant revenues, as well as shifting our product mix to higher margin retail sales."
Year to date sales, which includes the important holiday season, were up 38% to $2,369,340 for the nine months ending December 31, 2011 versus $1,711,197 for the same period in 2010. Retail sales, as a percentage of overall sales, increased to 55%, up from 20% for the same period in the prior year.
"We launched our aggressive growth model with the opening of our Tootie Pie Gourmet Cafes. In a short period of time, this model is already proving to be a success" added Merrill. "I look forward to adding more Cafes in the near future."
Gross profit jumped 40% to $987,692 for the period, versus $704,796 for the same period in 2010. Operating expenses increased slightly to $754,526 for the current period, up from $742,935 for the same period in 2010. Gross margin increased to 79% for the period, up from 66% for the same period in 2010. These results were due to several factors, including: an increase in higher margin retail sales, primarily through our Tootie Pie Gourmet Cafes; cost saving measures enacted at the beginning of the year; as well as a price increase for our pies.
About Tootie Pie Co.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafes, in-store sales, orders via telephone and internet on the Company's website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the OTCQB market under the symbol "TOOT." For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," and "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
Contact: Carla Carter Investor Relations210.737.6600Carla.Carter@tootiepieco.com
SOURCE Tootie Pie Company, Inc
General Motors Co.(GM, Trade )said on Thursday that it earned $468 million, or 28 cents a share in the fourth quarter, compared to $510 million, or 31 cents a share a year ago. GM posted revenue of $38 billion compared to $36.9 billion a year ago. Analysts polled by FactSet Research had expected the company to earn 42 cents a share on $37.95 billion of revenue.
ADDvantage Technologies Announces Financial Results for the Fiscal First Quarter of 2012
PrintAlert
Addvantage Technologies Grp., Inc. (MM) (NASDAQ:AEY)
Intraday Stock Chart
Today : Tuesday 14 February 2012
ADDvantage Technologies Group, Inc. (NASDAQ: AEY), today announced its results for the three month period ended December 31, 2011.
Revenue for the three months ended December 31, 2011 was $9.0 million compared to $9.2 million for the same period last year. Sales of new equipment were $5.2 million for the three months ended December 31, 2011 as compared to $6.5 million for the three months ended December 31, 2010. New equipment sales were negatively impacted by several factors including the continued economic downturn in the cable television industry as multiple system operator ("MSO") customers continue to conserve cash and limit capital expenditures and the negative impact of the Cisco reseller agreement entered in December 2010. Net refurbished equipment sales were $2.6 million for the three months ended December 31, 2011 as compared to $1.4 million for the same period last year. The increase in net refurbished equipment sales was primarily driven by our acquisition of the net operating assets of Adams Global Communications in May 2011, which increased our first quarter revenue by $1.1 million. Service revenue was $1.2 million for the three month period ended December 31, 2011 as compared to $1.3 million for the same period last year.
Net income attributable to common shareholders for the three months ended December 31, 2011 was $0.4 million, or $0.04 per diluted share, as compared to $0.7 million, or $0.07 per diluted share, for the same period last year.
Ken Chymiak, President and CEO, commented, "Revenue for the three months ended December 31, 2011 was relatively flat year-over-year, as we continue to face a weak cable equipment market and an uncertain economy. However, we maintained our gross margins at approximately 30%, generated positive cash flow from operations of $1.8 million in the fiscal first quarter of 2012, and continued to pay down our long-term debt. As a result, we increased our cash and cash equivalents to $12.3 million as of December 31, 2011 compared to $10.9 million as of September 30, 2011. We believe that our relatively strong financial position gives us major competitive advantages in the current market and allows us to continue to seek strategic growth opportunities and other ways that we could bring value to our shareholders.
"The core message for our customers, employees and investors as we enter 2012 is that ADDvantage Technologies is making every effort to confront its current challenges with a focus on strategic adaptation and a common-sense vision. We continue to consider changes to our business in order to return to a position of long-term growth," concluded Mr. Chymiak.
Earnings Conference Call
As previously announced the Company will host a conference call on Tuesday, February 14, 2012, at 12:00 p.m. Eastern Time featuring remarks by David Chymiak, Chairman of the Board, Ken Chymiak, President and Chief Executive Officer, and Scott Francis, Chief Financial Officer. The conference call will be available via webcast and can be accessed through the Investor Relations section of ADDvantage's website, www.addvantagetechnologies.com. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the Internet broadcast. The dial-in number for the conference call is (888)-401-4675 or (719)-325-4877 for international participants. All dial-in participants must use the following code to access the call: 4195028. Please call at least five minutes before the scheduled start time.
For interested individuals unable to join the conference call, a replay of the call will be available through February 28, 2012 at (877) 870-5176 (domestic) or (858) 384-5517 (international). Participants must use the following code to access the replay of the call: 4195028. The online archive of the webcast will be available on the Company's website for 30 days following the call.
About ADDvantage Technologies Group, Inc.
ADDvantage Technologies Group, Inc. supplies the cable television (CATV) industry with a comprehensive line of new and used system-critical network equipment and hardware from leading manufacturers, including Cisco, Motorola and Fujitsu Frontech North America, as well as operating a national network of technical repair centers. The equipment and hardware ADDvantage distributes is used to acquire, distribute, and protect the broad range of communications signals carried on fiber optic, coaxial cable and wireless distribution systems, including television programming, high-speed data (Internet) and telephony.
ADDvantage operates through its subsidiaries, Tulsat, Tulsat-Atlanta, Tulsat-Nebraska, Tulsat-Texas, NCS Industries, ComTech Services and Adams Global Communications. For more information, please visit the corporate web site at www.addvantagetechnologies.com.
The information in this announcement may include forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments that the Company expects or anticipates will or may occur in the future, are forward-looking statements. These statements are subject to risks and uncertainties, which could cause actual results and developments to differ materially from these statements. A complete discussion of these risks and uncertainties is contained in the Company's reports and documents filed from time to time with the Securities and Exchange Commission.
(Tables follow)
ADDVANTAGE TECHNOLOGIES GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
Three Months Ended
December 31,
2011 2010
----------- -----------
Sales:
Net new sales income $ 5,194,965 $ 6,525,013
Net refurbished sales income 2,588,717 1,401,501
Net service income 1,220,713 1,302,932
----------- -----------
Total net sales 9,004,395 9,229,446
Cost of sales 6,265,374 6,349,881
----------- -----------
Gross profit 2,739,021 2,879,565
Operating, selling, general and administrative
expenses 1,846,615 1,498,506
----------- -----------
Income from operations 892,406 1,381,059
Interest expense 158,626 185,424
----------- -----------
Income before provision for income taxes 733,780 1,195,635
Provision for income taxes 287,000 455,000
----------- -----------
Net income attributable to common shareholders 446,780 740,635
Other comprehensive income:
Unrealized gain on interest rate swap, net of
taxes 54,369 147,169
----------- -----------
Comprehensive income $ 501,149 $ 887,804
=========== ===========
Earnings per share:
Basic $ 0.04 $ 0.07
Diluted $ 0.04 $ 0.07
Shares used in per share calculation:
Basic 10,207,390 10,143,970
Diluted 10,209,036 10,154,523
ADDVANTAGE TECHNOLOGIES GROUP, INC.
CONSOLIDATED BALANCE SHEETS
December 31, September 30,
2011 2011
(unaudited) (audited)
------------- -------------
Assets
Current assets:
Cash and cash equivalents $ 12,238,609 $ 10,943,654
Accounts receivable, net of allowance of
$300,000 3,116,487 4,244,049
Income tax refund receivable 102,397 349,745
Inventories, net of allowance for excess and
obsolete inventory of $1,658,000 and
$1,556,000, respectively 24,074,992 25,777,747
Prepaid expenses 101,855 177,486
Deferred income taxes 1,092,000 1,059,000
------------- -------------
Total current assets 40,726,340 42,551,681
Property and equipment, at cost 11,831,097 11,746,091
Less accumulated depreciation and amortization (3,480,459) (3,392,329)
------------- -------------
Net property and equipment 8,350,638 8,353,762
Other assets:
Deferred income taxes 331,000 403,000
Goodwill 1,560,183 1,560,183
Other assets 19,246 19,245
------------- -------------
Total other assets 1,910,429 1,982,428
------------- -------------
Total assets $ 50,987,407 $ 52,887,871
============= =============
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $ 1,377,151 $ 2,675,907
Accrued expenses 689,346 1,240,224
Notes payable - current portion 1,814,008 1,814,008
------------- -------------
Total current liabilities 3,880,505 5,730,139
Notes payable, less current portion 9,790,618 10,244,120
Other liabilities 857,889 957,258
Shareholders' equity:
Common stock, $.01 par value; 30,000,000
shares authorized; 10,431,354 shares issued
and 10,207,390 shares outstanding 104,314 104,314
Paid in capital (5,883,630) (5,884,521)
Retained earnings 43,176,879 42,730,098
Accumulated other comprehensive loss:
Unrealized loss on interest rate swap, net
of tax (532,889) (587,258)
------------- -------------
Total shareholders' equity before treasury
stock 36,864,674 36,362,633
Less: Treasury stock, 223,964 shares, at
cost (406,279) (406,279)
------------- -------------
Total shareholders' equity 36,458,395 35,956,354
------------- -------------
Total liabilities and shareholders' equity $ 50,987,407 $ 52,887,871
============= =============
For further information
Company Contact:
Ken Chymiak
(918) 251-9121
Scott Francis
(918) 251-9121
KCSA Strategic Communications
Garth Russell / Jason Maymudes
(212) 896-1250 / (212) 896-1211
grussell@kcsa.com / jmaymudes@kcsa.com
Earthstone Energy Reports 3rd Quarter Results
PrintAlert
Highlights
EPS of 68 cents in third qtr vs 4 cents in prior year
Comparable EBIT up 83% to $4.1 million
Comparable production volume up 63% for qtr to 49,355 BOE
Continued exceptional performance quarter-over-quarter
EARTHSTONE ENERGY, INC. (NYSE Amex:ESTE) reported net income of $1,152,000, $0.68 per diluted share, on revenue of $3.9 million for the third quarter of fiscal 2012 compared to net income of $74,000, $.04 per diluted share, on revenue of $2.0 million for the third quarter of fiscal 2011. For the nine months ending December 31, 2011, the Company reported net income of $2,545,000, $1.49 per diluted share, on revenue of $8.9 million compared to net income of $1,176,000, $0.69 per diluted share, on revenue of $5.7 million for the same period ended December 2010. Total revenue and net income increased $1,879,000 (95%) and $1,078,000 (1,457%), respectively, from the comparable three month prior year period. These increases were due both to increases in oil and gas sales volumes and higher oil and gas prices in 2012 relative to 2011. Other factors which contributed to our quarterly results are disclosed in the Company's most recent Form 10-Q.
"We completed the first nine months of the fiscal year with compelling results, posting solid gains in revenues and net income," commented Ray Singleton, President of Earthstone. "We were especially pleased to generate robust growth in year-to-date EBITDA; increasing $1.9 million, or 83%, over the first nine months last year. While production for the first two quarters this year was hampered by severe flooding in the Williston, our third quarter has really seen the benefits of our increased drilling tempo. In fact, the foundation of solid earnings and free cash flow allowed for a year-to-date, capital deployment of more than double of that spent during the same period last year. In an effort to achieve continued long-term growth, the Company continues to pursue its strategy of drilling non-operated, horizontal Bakken wells where we have built momentum in production growth, bolstered by the acquisition of producing properties in the Williston Basin. While the Williston is our primary focus, we continue to evaluate non-Bakken opportunities which could positively impact the Company's reserves and production. We are excited, as the investments we made in growth projects this year are expected to benefit both next quarter's and next year's income and stock price growth."
ABOUT EARTHSTONE ENERGY:
Earthstone Energy, Inc. is a growth-oriented independent oil and gas exploration and production company with primary operations in the Williston Basin and south Texas. Earthstone is currently traded on the NYSE Amex under the symbol ESTE. Information on Earthstone can be found at its web site: www.earthstoneenergy.com.
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Some statements contained in this release are forward-looking, and therefore involve uncertainties or risks that could cause actual results to differ materially. Forward-looking statements can be identified by words such as "could," "should," "may," "will," "anticipate," "expect," "estimate," "intend" or "continue," or comparable words or phrases. In addition, all statements other than statements of historical facts that address activities that Earthstone intends, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements also include comments regarding assumptions regarding production rates and growth, operating costs, reduction of operation costs, commodity prices, industry outlook, future drilling activities, acquisitions and industry opportunities. Factors that could cause actual results to differ materially include availability of rigs and services, price volatility of oil and gas, estimated production rates and adjustments to ownership percentages in addition to economic and political events affecting supply and demand for oil and gas, loss of customers for oil and gas production and government regulations. These and other factors are discussed in more detail in Earthstone Energy's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for March 31, 2011 and Quarterly Reports on Form 10-Q for the three and six months ended June 30, 2011, September 30, 2011, and December 31, 2011, respectively. The Company disclaims any obligation to update forward-looking statements.
FINANCIAL HIGHLIGHTS
Nine Months Ended Three Months Ended
December 31, December 31,
2011 2010 2011 2010
Revenue $8,936,000 $5,748,000 $3,866,000 $1,987,000
Sales volume
Oil (barrels) 86,427 69,214 38,809 21,865
Gas (mcf) 140,943 122,543 63,281 50,653
Total production expense $3,292,000 $2,265,000 $1,333,000 $874,000
Gross profit $5,523,000 $3,414,000 $2,497,000 $1,072,000
Average sales price
Oil (per Barrel) $90.03 $69.87 $8784 $73.96
Gas (per Mcf) $7.34 $6.88 $6.65 $6.50
Average per BOE*
Production expense $29.95 $25.27 $27.01 $28.84
Net income $2,545,000 $1,176,000 $1,152,000 $74,000
Basic net income per share $1.49 $0.69 $0.68 $0.04
Diluted net income per share $1.49 $0.69 $0.68 $0.04
Weighted avg. number of shares outstanding, basic 1,710,035 1,699,877 1,706,588 1,697,097
Weighted avg. number of shares outstanding, diluted 1,710,035 1,699,877 1,706,588 1,697,067
*Barrel of oil equivalent
CONTACT: Ray Singleton
303-296-3076, ext. 102
Armanino Foods of Distinction, Inc. Announces Regular Quarterly Dividend
Feb 9, 2012 13:57:00 (ET)
HAYWARD, Calif., Feb 09, 2012 (BUSINESS WIRE) -- Armanino Foods of Distinction, Inc. (pink sheets symbol:AMNF) announced today that its board of directors has declared its regular quarterly cash dividend of $0.012 per share payable to shareholders of record April 2, 2012. The dividend will be disbursed on or about April 27, 2012. This dividend will be the Company's 47th consecutive regular quarterly dividend. In addition, the Company has had nine special dividends.
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items such as pestos, sauces and filled pastas to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto Armanino offers other flavors such as Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke and Roasted Garlic. Armanino's Organic line includes classic Basil Pesto. Frozen pastas, sauces, meatballs and Focaccia are also offered by Armanino Foods.
SOURCE: Armanino Foods of Distinction, Inc.
Armanino Foods of Distinction, Inc.
Edgar Estonina, 510-441-9300
CFO
armaninofoods@armaninofoods.com
MAUXF Mart - anyone buying on this dip?
Antrim Provides Update of East Fyne Appraisal Well and Causeway Development, UK North Sea
Date : 02/06/2012 @ 2:00AM
Source : MarketWire
Antrim Provides Update of East Fyne Appraisal Well and Causeway Development, UK North Sea
PrintAlert
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.
Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim" or the "Company")
Antrim, an international oil and gas exploration and production company headquartered in Calgary, Canada, today announced results from the East Fyne appraisal well in the UK Central North Sea block 21/28a (Antrim working interest 35.1%) and progress in the development of the Causeway Field in UK Northern North Sea Block 211/22a South East Area (Antrim working interest 35.5%).
Well 21/28a-11 (the "East Fyne well") was drilled to a total depth of 5,020 feet in the eastern portion of the Fyne Field, an Eocene Tay oil accumulation located SW of and on trend with the producing NW Guillemot oil field. The well encountered approximately 24 feet of gas bearing sand in the Upper Tay formation and eight feet of oil bearing sand in the Middle Tay formation, with no oil-water contact identified. Very good reservoir quality was encountered in both the Upper and Middle Tay, with porosities in the range of 31 - 33%, oil saturations in the Middle Tay of approximately 78%, and high permeabilities in the multi-darcy range. Oil samples were collected and oil quality is currently being analyzed.
The thickness of the oil bearing sand is at the lower end of the pre-drill estimate and the well is being plugged and abandoned.
The joint venture partners will now incorporate the results of the East Fyne well and possible adjustment to internally estimated reserves into their analysis of field development options for the Fyne Field.
Field development is proceeding in the Causeway Field. A field development plan ("FDP") has been approved by the UK Department of Energy and Climate Change ("DECC"), as previously announced on December 28, 2011. A lump sum contract with a value of approximately GBP 33 million was awarded by Operator Valiant Causeway Limited to French contractor Technip for engineering, procurement, installation and commissioning of rigid and flexible pipelines, subsea equipment and umbilicals. The Borgsten Dolphin semi-submersible rig has been contracted to complete the existing production and water injection wells in the field. Hydrocarbons will be transported to and processed at the Cormorant North platform operated by TAQA Bratani Limited, before being exported to the Sullom Voe terminal for sale. First oil remains on-track for the third quarter of 2012.
Additional information concerning Antrim Energy Inc. is available at www.antrimenergy.com. Investor inquiries may be directed to info@antrimenergy.com or 1-403-264-5111.
Forward-Looking Statements
Some of the statements in this announcement may be forward-looking including statements relating to the drilling results. Forward-looking statements include statements regarding the intent, belief and current expectations of Antrim Energy Inc. When used in this announcement, the words "approximate", "estimate" and similar expressions, whether used in connection with drilling activity or otherwise, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Antrim's control. Please refer to Antrim's Annual Information Form for the year ended December 31, 2010 and dated March 28, 2011 and available for viewing at www.sedar.com, for a list of risk factors. Antrim's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Antrim will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Antrim or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release.
In accordance with AIM guidelines, Mr. Kerry Fulton, P. Eng and Vice President Operations of Antrim, is the qualified person that has reviewed the technical information contained in this news release. Mr. Fulton has over 30 years operating experience in the upstream oil and gas industry.
Contacts:
Antrim Energy Inc.
Stephen Greer
President & CEO
(403) 264-5111
(403) 264-5113 (FAX)
greer@antrimenergy.com
Antrim Energy Inc.
Scott Berry
Manager, Investor Relations
(403) 264-5111
(403) 264-5113 (FAX)
berry@antrimenergy.com
Antrim Energy Inc.
Kerry Fulton
Vice President Operations
(403) 264-5111
(403) 264-5113 (FAX)
Fulton@antrimenergy.com
RBC Europe Limited
Martin Eales
+44 (0) 20 7029 7881
As long as they keep their quarterly dividend streak im pretty happy.
Retransmission: Strathmore Announces Strategic Investment by KoreaElectric Power Corp. & Phased US $40 Million Joint VentureDevelopment of the Gas Hills, Wyoming
Feb 1, 2012 09:03:27 (ET)
VANCOUVER, BRITISH COLUMBIA, Feb 01, 2012 (MARKETWIRE via COMTEX) -- STRATHMORE MINERALS CORP. ("Strathmore" or "the Company") (otcqx:STHJF) is pleased to announce that it has entered into a strategic Definitive Agreement ("the Agreement") with Korea Electric Power Corporation ("KEPCO"), whereby KEPCO will subscribe for common shares of Strathmore, with the proceeds to be used for the development of the Company's Gas Hills Uranium properties in Wyoming. In addition, the Agreement contains an off-take provision, whereby KEPCO has the right to purchase a portion of any future annual uranium production from Strathmore's properties, subject to pre-existing agreements. Future off-take uranium purchases shall be determined by KEPCO's equity ownership in Strathmore.
As per the Agreement, Strathmore will issue, by way of a private placement, 14,586,182 common shares of Strathmore to KEPCO, at a price of C$0.55 per share, for total gross proceeds of US$8 million. Upon completion of this financing, KEPCO will own approximately 13.9% of Strathmore. The proceeds will be used for a "Phase I" exploration and development program of the Gas Hills Beaver Rim area and for ongoing permitting activities on the Company's nearby lower Gas Hills properties. On completion of Phase I, KEPCO will have the right to participate in a "Phase II" development program, allowing KEPCO to earn up to a 40% interest in the Gas Hills Properties, for an additional $32 million in expenditures, over the subsequent three years.
"Strathmore is pleased to welcome KEPCO as a new valued shareholder and partner," commented Mr. David Miller, Strathmore's CEO. "KEPCO is known for their leadership and foresight in providing long-term solutions for the development of safe and reliable nuclear power and investment in sustainable uranium supplies. Their participation in the development of the Gas Hills demonstrates their confidence in both the value and the potential of this project. The funds provided by the equity private placement will provide the immediate capital requirements necessary to advance this project through the exploration, development and permitting process."
Phase I
To finance the Phase I development of the Gas Hills Properties, KEPCO has agreed to subscribe for 14,586,182 common shares of Strathmore at a price per share of C$0.55, for total gross proceeds of US$8 million. Total gross proceeds from this common share private placement will be used to advance the Gas Hills Properties, in accordance with the Phase I Program and Budget.
Phase II
Following completion of the Phase I development program, KEPCO may elect to establish a limited liability company (the "Project Company") with Strathmore for the further development of the Gas Hills Properties. The Project Company shall be governed by an operating agreement, the terms of which are substantially consistent with the agreement between KEPCO and the Company announced today. KEPCO will be entitled to the delivery of uranium "in kind" from future production of the Project Company based on their proportionate interest in the Project Company, as described by the following terms:
-- In Phase II, Strathmore shall contribute all of the properties and
assets of the Gas Hills project to the Project Company and KEPCO shall
contribute, as its initial contribution, US $12,000,000 to fund the
first year of Phase II program. At such time as KEPCO has made the full
US $12,000,000 initial contribution to the Project Company, it will have
acquired a 15% equity interest in the Project Company.
-- In the second year of the Phase II program, KEPCO may acquire an
additional 12.5% equity interest in the Project Company for a total of
27.5% by funding the second year Phase II program expenditures of an
additional US$10,000,000.
-- In the third year of the Phase II program, KEPCO may acquire an
additional 12.5% equity interest in the Project Company for a total of
40% by funding the third year of the Phase II program expenditures of an
additional US$10,000,000.
The Project Company shall appoint a management committee to determine overall policies, objectives, procedures, methods, actions, and approval of budgets. The management committee shall be comprised of three representatives of Strathmore and two representatives of KEPCO. Strathmore shall be the manager of the Gas Hills Project.
The Toronto Stock Exchange has conditionally approved the US $8 million private placement to KEPCO. Completion of the private placement is conditional upon, among other things, Strathmore and KEPCO completing the proposed off-take agreement. The private placement is expected to close on or about February 10, 2012.
Gas Hills, Wyoming
The Gas Hills Uranium District in Wyoming was the second largest uranium producing region in the United States, having produced 100 million pounds of uranium concentrates from 1957-1989. Strathmore controls over 34,000 acres of mineral claims in the Gas Hills, including approximately 16,000 acres in the highly prospective, relatively unexplored portion of the Gas Hills, known as "Beaver Rim", located to the south of the lower Gas Hills area. The Company has been actively advancing its mine permit application in the lower Gas Hills area for submittal to the State of Wyoming, in addition to a Source Materials License application to the US Nuclear Regulatory Commission.
The technical information in this news release has been reviewed by David Miller, Chief Executive Officer for Strathmore Minerals Corp., a Qualified Person under National Instrument 43-101.
STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties in the United States. Headquartered in Vancouver, British Columbia with a branch administrative office in Kelowna, the Company also has U.S. based Development Offices in Riverton, Wyoming and Santa Fe, New Mexico. STRATHMORE MINERALS CORP. Common Shares are listed on the TSX under the symbol "STM" and trade on the OTCQX International electronic trading system in the United States under the symbol "STHJF".
Korea Electric Power Corporation (KEPCO) is a Korean government-invested diversified energy company with over US$120 billion in assets. The company is involved in the generation, transmission and distribution of electrical power from nuclear, hydro, coal, oil and LNG sources worldwide. Korea Electric Power provides electricity to almost all households in Korea and operates 21 nuclear power plants in the country with seven more under development. The company has over 46,000 employees and is listed on the Korean Stock Exchange and the New York Stock Exchange. ( www.kepco.co.kr )
This news release contains "forward-looking information" that is based on Strathmore Minerals Corp.'s current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to the expected closing date of the private placement with KEPCO; the Phase I and Phase II exploration and development plans for the Gas Hills properties; the establishment of the Project Company and the timing and amount of contributions by KEPCO to the Project Company. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Strathmore's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to the outcome of the Phase I and Phase II exploration and development programs; the historical resource estimates; changes in economic conditions or financial markets; changes in input prices; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining, or advancing projects; and labour relations matters.
This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Strathmore Minerals Corp. disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
ON BEHALF OF THE BOARD :
David Miller, CEO
Contacts:
Strathmore Minerals Corp.
Craig Christy
Investor Relations
1-800-647-3303
info@strathmoreminerals.com
www.strathmoreminerals.com
SOURCE: Strathmore Minerals Corp.
mailto:info@strathmoreminerals.com
Seven Summits Research Releases Comments on Apple, General Motors, Caterpillar, Du Pont and United Rentals
Date :
01/23/2012 @ 9:31AM
Source :
PR Newswire
Stock :
GM (GM)
Quote :
25.01 0.01 (0.04%) @ 9:31AM
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Seven Summits Research Releases Comments on Apple, General Motors, Caterpillar, Du Pont and United Rentals
Print
Alert
GM (NYSE:GM)
Intraday Stock Chart
Today : Monday 23 January 2012
Seven Summits Research Releases Comments on Apple, General Motors, Caterpillar, Du Pont and United Rentals
PR Newswire
CHICAGO, Jan. 23, 2012
CHICAGO, Jan. 23, 2012 /PRNewswire/ -- Seven Summits Strategic Investments releases its Stocks To Watch Guide.
The Seven Summits Strategic Investments Stocks To Watch Guide (go to: http://www.iotogo.com/StocksToWatch) provides investors with essential information on stocks that may be poised for a significant move. By featuring hedged trades, this guide gives investors the tools they need to protect their portfolios against uncertainty.
The following stocks are featured in the Stocks To Watch Guide: Apple Inc. (Nasdaq: AAPL), General Motors Company (NYSE: GM), Caterpillar Inc. (NYSE: CAT), E.I. du Pont de Nemours and Company (NYSE: DD) and United Rentals Inc. (NYSE: URI).
"Our Stocks To Watch Guide goes above and beyond what other investment guides provide investors. Along with brief concise stock data and analysis, they provide useful information and tactics on how to ensure your investments are protected with basic hedging techniques," says James V. Buloumn, Seven Summits Analyst. "I would give this guide to my family and friends. This guide contains information that can benefit both the expert and the novice when they are considering potential portfolio changes."
The Stocks To Watch Guide is available to all investors at http://www.InvestorsObserver.com/StocksToWatch. (Note: You may have to copy this link into your browser then press the [ENTER] key.)
Seven Summits Investment Research is an independent investment research group, which focuses on the U.S. equities and options markets. Our analytical tools, screening techniques, rigorous research methods and committed staff provide solid information to help our clients make the best possible investment decisions. For more information go to www.SevenSummitsInvestmentResearch.com. CRD# 137114
All stocks and options shown are examples only--not recommendations to buy or sell. Our picks do not represent a positive or negative approach to any security. Potential returns do not take into account expenses that affect your actual investment returns such as trade size, brokerage commissions or taxes. Stocks and options involve risk, thus they are not suitable for all investors. Prior to buying or selling options, investors should request a copy of Characteristics and Risks of Standardized Options available from Catherine at 800-698-9101 or at http://www.cboe.com/Resources/Intro.aspx. Privacy policy available upon request.
SOURCE Seven Summits Investment Research
Piper Jaffray Upgrades General Motors (GM) to Overweight
January 11, 2012 7:41 AM EST
Piper Jaffray upgraded General Motors (NYSE: GM) from Neutral to Overweight, price target raised from $24.50 to $31.00.
For an analyst ratings summary and ratings history on General Motors click here. For more ratings news on General Motors click here.
Shares of General Motors closed at $23.24 yesterday, with a 52 week range of $19.00-$39.43.
http://www.streetinsider.com/Upgrades/Piper+Jaffray+Upgrades+General+Motors+(GM)+to+Overweight/7074550.html
Sprott Resource Corp. Announces C$6.9M Investment In Potash Ridge Corp.
Jan 4, 2012 08:31:42 (ET)
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
January 04, 2012 08:31 ET (13:31 GMT)
Vantage Drilling and Hyperdynamics Get a Boost From Obama
Companies focused on Oil Drilling have seen their top lines surge in recent quarters as global oil consumption continues to grow. According to the International Energy Agency, worldwide oil demand grew by 2.6 percent in the first quarter of 2011, on top of 4.1 percent growth in the fourth quarter of 2010. With demand for oil so high at the moment, the biggest problem facing the drilling industry is getting more rigs operational. The Bedford Report examines the outlook for companies in the Oil Well Services and Equipment Industry and provides research reports on Vantage Drilling Company (NYSE Amex: VTG) and Hyperdynamics Corporation (NYSE Amex: HDY). Access to the full company reports can be found at:
www.bedfordreport.com/2011-05-VTG
www.bedfordreport.com/2011-05-HDY
In recent months, investors have focused on drilling companies that do not have exposure to Libya and other troubled spots, but stand to benefit from oil's recent spike in demand. Uncertainty over what will happen with the 12th largest exporter of oil in the world is partially driving the need to raise rig counts.
Earlier this year, President Obama declared interest in improving domestic oil production, which is expected to lead to more offshore drilling permits. However, increased emphasis on safer rigs as well as slow approval processes may impede getting rigs into the water quickly.
The Bedford Report releases regular market updates on the Oil & Gas Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
Cashing in on the current small cap oil and gas boom, shares of Hyperdynamics skyrocketed last week after AGR Petroleum signed a contract with Jasper Drilling on behalf of Hyperdynamics. The Jasper "Explorer" is capable of drilling in up to 5,000 feet of water and is expected to spud the first well in the fourth quarter.
Vantage Drilling is showing significant revenue growth. In the most recent quarter, the company said revenues surged to $124 million from $58 million in the year ago period. Earlier this month, Vantage announced that it hired Daewoo Shipbuilding and Marine Engineering Company to build an ultra-deep water drilling ship an estimated cost of $580 million to $590 million.
The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.bedfordreport.com/disclaimer.
Contact:
The Bedford Report
Email Contact
Sunwin International, WILD Flavors and Domino Sugar Collaborate to Leverage All Natural Sweetener Expertise
Date : 05/17/2011 @ 8:00AM
Source : MarketWire
Stock : Sunwin International Neutraceuticals, Inc. (SUWN)
Quote : 0.301 0.0 (0.00%) @ 7:42AM
Sunwin International, WILD Flavors and Domino Sugar Collaborate to Leverage All Natural Sweetener Expertise
Sunwin Intl Neutracl (OTCBB:SUWN)
Intraday Stock Chart
Today : Tuesday 17 May 2011
Sunwin International Neutraceuticals, Inc. (OTCBB: SUWN), Domino Foods, Inc. (Domino Sugar), and WILD Flavors GmbH (WILD) have entered into an collaboration agreement to support the food and beverage industry by offering all natural sweeteners made from all natural products such as cane sugar, rice, malt and stevia. The three companies have agreed to partner in an unprecedented fashion to focus their company's efforts to introduce a wide range of all natural, low calorie and no calorie sweetening solutions that contain Sunwin Stevia™. These innovative sweeteners can include both natural and artificial sweeteners plus sophisticated flavor modifiers based on the needs and demands of specific customers.
Domino Sugar is the largest marketer of refined sugar in the United States and its affiliates produce and market the nationally recognized Domino®, C&H® and Florida Crystals® brands. In addition to the most comprehensive assortment of refined cane sugar products, Domino also produces brown rice syrup, evaporated cane juice, fondants, honey, invert sugar, malt, molasses, as well as flavor and texture modifiers. Based on this wide assortment of sweeteners, Domino has built long-term, outstanding business relationships with many consumer product companies, retailers, foodservice operators and distributors.
WILD Flavors is a worldwide leader in natural flavor and ingredient systems as well as individual components including: natural flavors, extracts, natural colors, concentrates, sweetening systems, specialty ingredients and seasonings for the food and beverage industry. WILD's innovations consist of a broad range of natural products, vast experience and knowledge in providing unique, complete system solutions that create great taste, functionality and value for their customers.
Sunwin International (Sunwin) is one of the leading global suppliers of stevia and is committed to sustainable production and supply of the widest range of high quality stevia extracts available. Two years ago, WILD and Sunwin created a strategic collaboration focused on the distribution of Sunwin Stevia™ extracts, and the development of world-class stevia related taste modification technologies to support the creation of great-tasting products that are of the highest purity and quality available in the industry.
Mr. Laiwang Zhang, Chairman of Sunwin International, stated, "Two years ago we created a partnership with the greatest flavor innovation company in the world in WILD Flavors. Now we are collaborating with the most recognized leader in the sugar industry in Domino Sugar. Through quality, innovation and teamwork, our three companies will create great tasting, all natural, sweetener solutions for consumer product companies who are focused on satisfying the latest consumer trends. We are excited about the future opportunities we will encounter together."
"With our strength and breadth in natural sweeteners, we are very excited about the opportunity to create new blends and offer the healthy benefits of stevia to consumers," stated Mr. Brian F. O'Malley, President and Chief Executive Officer of Domino Sugar. "As we continue to focus on our customers' demands to provide competitive and natural solutions for their sweetener solutions, Sunwin International and WILD Flavors are the perfect partners and leaders in the stevia industry, as well as innovators in the use of stevia with other ingredients to create great tasting food and beverages."
Mr. Michael Ponder, Global Chief Executive Officer of WILD Flavors GmbH, commented, "With Domino Foods and its affiliates as suppliers of sugar and sweetening systems, WILD, Domino and Sunwin will benefit from the systems' approach to drive the growth of the stevia market meeting the consumers' growing interest for calorie reduction and 'naturalness.' WILD has invested substantial time and technical efforts for several years to develop proprietary taste modification technologies for stevia, sugar, and artificial sweeteners, and looks forward to working with Domino and Sunwin for mutual worldwide opportunities for our companies and customers."
About Domino Foods, Inc.
Headquartered in Iselin, NJ, Domino Foods, Inc. is the largest marketer of refined sugar in the U.S. The company is responsible for the sales, marketing and logistics (including the order to cash cycle) for the output of the American Sugar Refining, Inc., C&H Sugar Company, Inc., and Okeelanta Corporation (a subsidiary of Florida Crystals Corporation). The company sells through five distribution channels (Industrial, Grocery, Foodservice, Specialty and Export). Products are sold with the following trademarks -- Domino®, C&H® and Florida Crystals®.
About WILD Flavors GmbH
WILD Flavors GmbH, based in Zug, Switzerland, is one of the world's leading privately-owned manufacturers of natural ingredients for the food and beverage industry. WILD Flavors provides specific flavors, colors, and ingredients as well as innovative and great tasting concepts through application expertise and technological advancements. For more information about WILD, please visit: www.wildflavors.com or www.wild.de.
About Sunwin International Neutraceuticals, Inc.
Sunwin International Neutraceuticals, Inc. engages in the areas of essential traditional Chinese medicine and zero calorie natural sweeteners (Sunwin Stevia™ Extracts). As an industry leader in agricultural processing, Sunwin has built an integrated global firm with the sourcing and production capabilities to meet the needs of consumers throughout the world. For more info about Sunwin, please visit www.sunwininternational.com.
Safe Harbor Statement
Sunwin International, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding revenues, net income and earnings.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2010.
CONTACTS:
Domino Foods
Mr. Brian O'Malley
President & CEO
120 Wood Avenue
Suite 515
Iselin, NJ 08830
(732)590-1180
bomalley@dominofoods.com
WILD Flavors GmbH
Dr. Erik Donhowe
WILD Flavors, Inc.
Chief Operating Officer
1261 Pacific Avenue
Erlanger, KY 41018
(859)342-3942
edonhowe@wildflavors.com
Sunwin International
Mr. Jeff Reynolds
PO Box 1017
Frisco, Texas 75034
(972)377-2339
jreynolds@sunwinusa.com
Conrad Announces First Quarter 2011 Results and Discusses Impact of Rising Water in Mississippi and Atchafalaya Rivers
Date : 05/11/2011 @ 6:00PM
Source : PR Newswire
Stock : Conrad Inds (CNRD)
Quote : 13.0 -0.35 (-2.62%) @ 4:19PM
Conrad Announces First Quarter 2011 Results and Discusses Impact of Rising Water in Mississippi and Atchafalaya Rivers
Conrad Inds (USOTC:CNRD)
Intraday Stock Chart
Today : Wednesday 11 May 2011
Conrad Industries, Inc. (OTC Pink Sheets: CNRD) announced today its first quarter 2011 results and backlog, and discussed challenges presented by the rising waters of the Mississippi River and the Atchafalaya River.
For the quarter ended March 31, 2011, Conrad achieved net income of $3.7 million and earnings per diluted share of $0.58 compared to net income of $1.7 million and earnings per diluted share of $0.27 during the first quarter of 2010. The Company's financial reports are available at www.otcmarkets.com.
Conrad's backlog was $112.3 million at March 31, 2011 compared to $89.5 million at December 31, 2010 and $48.9 million at March 31, 2010.
Johnny Conrad, President and CEO stated, "Our vessel construction segment continued the improvements that began during the third and fourth quarters of 2010 with the increases in our backlog. The repair segment was negatively affected by the slow-down in activity in the Gulf of Mexico related to the Deepwater Horizon incident and the resulting continued uncertainties surrounding the issuance of drilling permits by the Department of the Interior and new regulations related to drilling operations.
"Although we continue to be optimistic about the long-term prospects of our business and market conditions are much improved compared to last year, there still remains some uncertainty about our shorter-term demand and margins, particularly in our repair segment. The increase in our backlog gives us more confidence in our vessel construction segment but the continued uncertainty in Gulf of Mexico oil and gas activity hampers visibility in our repair segment."
Conrad further commented, "Adding to our short-term uncertainty is the potential adverse impact on our business of the rising water levels along the Mississippi and Atchafalaya Rivers. Three of our four shipyards are located in South Louisiana, one along the Atchafalaya River in Morgan City and the other two in Amelia along the Intracoastal Waterway. We have temporarily discontinued operations at our Morgan City shipyard which is located on the Atchafalaya River outside the protection of the levee system and have taken steps to safeguard our assets and to mitigate the effects of this situation on our operations. Vessels under construction and key pieces of our equipment have been moved to our other shipyards. Production personnel, as well as support and administrative staff, have been relocated to our other facilities in the area.
"The Atchafalaya River at Morgan City is forecasted to continuously rise to crest on May 25, 2011 and then slowly recede. Our two yards along the Intracoastal Waterway may also be impacted by rising water levels but at this time are operational and have taken on the work moved from Morgan City. Although we do not anticipate any significant flooding at the yards, there may be limits on the ability of vessels to access the yards. We cannot predict with any certainty the potential impact of the rising waters on our operations but we believe that our existing plan and efforts will produce the best results under the circumstances for our facilities, customers, vendors, employees and shareholders."
Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.
This press release contains forward-looking statements, identifiable through the use of words such as "believe," "expect," "plan," "estimate" and similar expressions. Forward-looking statements speak only as of the date of this release, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. Actual results may differ materially due to a variety of factors, including the level of activity by oil and gas companies in the Gulf of Mexico, the impact of the rising waters of the Mississippi and Atchafalaya Rivers, steel prices and availability, general economic conditions and other risks detailed in our 2010 Annual Report available at www.otcmarkets.com.
For Information Contact: Cecil Hernandez (985) 702-0195CAHernandez@ConradIndustries.com
SOURCE Conrad Industries, Inc.
More CNRD MessagesLatest Conrad Inds CNRD Messages
Conrad Industries Announces 2010 Results and New Business
mooremi9 • Wed Mar 30, 2011 8:27 AM
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Anyone know the cause of the sudden fall of this stock? Did i miss some relevant news?
SUWN .37 on the move
Conrad Industries Announces 2010 Results and New Business
Conrad Inds (USOTC:CNRD)
Intraday Stock Chart
Today : Wednesday 30 March 2011
Conrad Industries, Inc. (Pink Sheets: CNRD) today announced its fourth quarter and twelve months 2010 results and the addition of new business during the first quarter totaling $75.2 million.
For the quarter ended December 31, 2010, Conrad had net income of $3.3 million and earnings per diluted share of $0.51 compared to net income of $2.8 million and earnings per diluted share of $0.43 during the fourth quarter of 2009. The Company had net income of $10.3 million and earnings per diluted share of $1.60 for the twelve months ended December 31, 2010 compared to net income of $12.8 million and earnings per diluted share of $1.99 for the twelve months ended December 31, 2009. The diluted shares for the quarter and twelve months ended December 31, 2010 are 6.4 million and 6.5 million for the quarter and twelve months ended December 31, 2009. The Company's financial reports are available at www.otcmarkets.com.
New business added includes the signing of new contracts and sales of stock barges which brings estimated current backlog to approximately $113.0 million compared to $89.5 million at December 31, 2010, $48.9 million at March 31, 2010, and $38.3 million at December 31, 2009.
New contracts added include four 245'x 48'x 12'LPG tank barges, two 222'x 54'x 12' LPG tank barges, two 192'x 42'x10' 7500 bbl. double skin tank barges, five 260'x 52'x 12' hopper barges, and various other docking and deck barges.
Additionally we signed contracts for three 100'x 30'x 10' push boats and two 75'x 30'x 10' towboats.
We also sold all of the stock barges in progress at December 31, 2010 which include three 297'6"x 54'x 12' 30,000 bbl. tank barges, two 200'x 35'x 12'6" 10,000 bbl. tank barges and two 120'x 30'x 12' deck barges.
Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.
For Information Contact: Cecil Hernandez (985) 702-0195CAHernandez@ConradIndustries.com
SOURCE Conrad Industries, Inc.
LTUS- anyone buying today,or avoiding like the plague?
I have mixed feelings about this news. I am curious to see how others react to it.
I dont care how much hot air you blow, your not going to get a ballon to rise when it has a hole in it.
China Sun Group High-Tech Co. Provides Operational Update, Reaffirms Guidance
China Sun Grp Highte (OTCBB:CSGH)
Intraday Stock Chart
Today : Friday 4 March 2011
China Sun Group High-Tech Co. (OTC Bulletin Board: CSGH) ("China Sun Group" or the "Company"), a vertically integrated supplier of raw materials for rechargeable Lithium–ion (Li-ion) batteries in China, today provided an operational update and reaffirmed its guidance for its fiscal year ending May 31, 2011.
Operations
The Company has a strong position in the production of cobaltosic oxide, an important material used in the production of lithium ion batteries that power such devices as laptop computers and cellphones. The Company believes it has now established itself as a quality leader in the production of Lithium Iron Phosphate (LIP). This product is a key material for the anode component of lithium ion batteries used in hybrid and electric vehicles. The Company's new "Senkun," brand of Lithium Iron Phosphate, was awarded the "National Quality Trustworthy Products" designation by Nation High Tech Quality Supervising Committee in October, 2010.
The Company began LIP production in Oct 2009 and now has 500 tons per annum of production capacity in place from 3 production lines. The Company has provided samples of LIP to approximately 32 Lithium Ion battery manufacturers and has received one major contract to date from Henan Huanyu Sai Er New Energy Technology Co., Ltd. for approximately 470 tons per annum and 7 smaller contracts from additional customers.
The Company is in the process of adding two more lines that will increase LIP capacity to more than 1000 tons per annum in December 2011 and the Company anticipates that the first line will be in set up phase in March, testing and initial production phase in April and fully operational before the end of May 2011.
In the context of further demand for lithium ion batteries and their components driven by China's goal of building one million electric vehicles by 2015, the Company is targeting eventual LIP capacity expansion to 4,000 tons per annum and is also planning to launch its own production of electric-car batteries by 2013.
Production
The Company is experiencing strong interest and increasing demand from battery manufacturers. The preliminary estimate of tons of LIP shipped for the third fiscal quarter ending February 28, 2011 is 205 tons, bringing tons shipped of LIP for the first 9 months of fiscal 2011 to 518 tons. The preliminary estimate of tons shipped for the Company's established cobaltosic oxide product for the third fiscal quarter of 2011 is 304 tons compared to 267 tons for the same period a year ago, bringing tons shipped of cobaltosic oxide for the first 9 months of fiscal 2011 to 889 tons.
Financial Outlook
The Company reiterates its previous guidance of 2011 fiscal year revenues in the range of $56 million to $58 million, and non-GAAP adjusted net income to be in the range between $10 million and $11 million, excluding the cost of share-based consultancy fees.
On the basis of the Company's current cash balances and outlook for the upcoming calendar year, the Company believes it has sufficient cash resources to fund the expansion of its LIP lines to 1,000 tons per annum as detailed above.
Funding for additional expansion and vertical integration beyond 1,000 tons of LIP, may, depending on timing, require additional capital for acquisitions and/or capital expenditures.
"Looking back for the past three quarters of fiscal year 2011, the new product – LIP has brought the Company a greater profit and contribution, and we are very encouraged by the prospects for our business, given our leading market positions, technological resources and levels of customer demand," said the Company's Chief Executive Officer, Mr. Guosheng Fu. "With our excellent management and operations, we believe we can continue to target ambitious growth as we increase China Sun Group's production capacity to meet market demand. At the same time we are dedicated to pursuing the highest standards of responsibility as a public company to prepare for upgrading to a major stock exchange in the future."
About China Sun Group High-Tech Co.
China Sun Group High-Tech Co. ("China Sun Group") produces anode materials used in lithium ion batteries. Through its wholly-owned operating subsidiary, Dalian Xinyang High-Tech Development Co. Ltd ("DLX"), the Company primarily produces cobaltosic oxide and lithium cobalt oxide. According to the China Battery Industry Association, DLX has the second largest cobalt series production capacity in the People's Republic of China. Through its research and development division, DLX owns a proprietary series of nanometer technologies that supply state-of-the-art components for advanced lithium ion batteries. Leveraging its state-of-the-art technology, high-quality product line and scalable production capacity, the Company has recently diversified into the manufacture of LIP and plans to forward integrate to manufacture power Li-ion batteries. For more information, visit http://www.china-sun.cn.
Safe Harbor Statement
The statements contained herein that are not historical facts are considered "forward-looking statements." Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, statements regarding the Company's expected growth in sales of LIP due to China's expanding new energy automobile industry are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov.
Company Contact:
Investor Relations Contact:
Mr. Guosheng Fu, Chief Executive Officer
Mr. Mark Collinson, Partner
China Sun Group High-Tech Co.
CCG Investor Relations
Tel: 86 411 8288 9800/8289 2736 (China)
Tel: 310-954-1343
Email: ir@china-sun.cn
Email: mark.collinson@ccgir.com
Website: www.china-sun.cn
Website: www.ccgirasia.com
SOURCE China Sun Group High-Tech Co., Ltd.
ADDvantage Technologies Announces Results for Fiscal 2011 First QuarterFont size: A | A | A8:02 AM ET 2/8/11 | Marketwire
ADDvantage Technologies Group, Inc. (NASDAQ: AEY), today announced its results for the three month period ended December 31, 2010.
Revenue for the three month period ended December 31, 2010 was $9.2 million compared to $10.2 million in the same period a year ago. Sales of new equipment were $6.5 million for the three months ended December 30, 2010 as compared to $6.6 million for the three months ended December 31, 2009. Net refurbished equipment sales were $1.4 million for the three months ended December 31, 2010 as compared to $2.3 million for the same period last year. The decrease in refurbished equipment sales was primarily due to a decrease in sales of digital converter boxes of $0.6 million. Service revenue was $1.3 million for the three months ended December 31, 2010 as compared to $1.4 million for the same period last year. This decline was primarily attributable to the closure of the Tulsat-West facility in the fiscal first quarter of 2011.
Net income attributable to common shareholders in the first quarter of fiscal 2011 was $0.7 million, or $0.07 per diluted share, as compared to $0.9 million, or $0.8 per diluted share, in the same period last year.
Ken Chymiak, President and CEO, commented, "We continue to report strong gross margins and positive net income, and further strengthened our balance sheet with an increase in cash and cash equivalents. Our sales remained relatively the same compared to last year except for the sale of refurbished digital converter boxes. The decrease in sales for the digital converter boxes was due to lower demand for this product. The overall market demand for cable television equipment continues to be flat as a result of the difficult economic environment, traditional United States cable companies are still under budgetary pressures as new housing starts and consumer spending is still down."
"Also, as previously announced on December 27, 2010, our subsidiary, Tulsat, entered into a new system integrator/reseller agreement with Cisco, which will enable it to sell both IT and Service Provider Video Technology Group ("SPVTG") related products in the United States. This agreement replaces Tulsat's prior distributor agreement with Cisco, which expired December 20, 2010. Under the terms of the new agreement, Tulsat will purchase the majority of its new Cisco product inventory through a primary stocking distributor as opposed to purchasing directly from Cisco as it did under the prior agreement. This is expected to result in slightly higher product costs, but it will lower the Company's inventory, storage, shipping and handling costs," concluded Mr. Chymiak.
Earnings Conference Call
As previously announced, the Company's earnings conference call is scheduled for 12:00 p.m. Eastern Time on Tuesday, February 8, 2011. The conference call will be available via webcast and can be accessed through the Investor Relations section of ADDvantage's website, www.addvantagetech.com. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the Internet broadcast. The dial-in number for the conference call is (877) 852-6579 or (719) 325-4933 for international participants. All dial-in participants must use the following code to access the call: 1034872. Please call at least five minutes before the scheduled start time.
For interested individuals unable to join the conference call, a replay of the call will be available through February 22, 2011 at (877) 870-5176 (domestic) or (858) 384-5517 (international). Participants must use the following code to access the replay of the call: 1034872. The online archive of the webcast will be available on the Company's website for 30 days following the call.
About ADDvantage Technologies Group, Inc.
ADDvantage Technologies Group, Inc. supplies the cable television (CATV) industry with a comprehensive line of new and used system-critical network equipment and hardware from leading manufacturers, including Cisco, Motorola and Fujitsu Frontech North America, as well as operating a national network of technical repair centers. The equipment and hardware ADDvantage distributes is used to acquire, distribute, and protect the broad range of communications signals carried on fiber optic, coaxial cable and wireless distribution systems, including television programming, high-speed data (Internet) and telephony.
ADDvantage operates through its subsidiaries, Tulsat, Tulsat-Atlanta, Tulsat-Nebraska, Tulsat-Texas, NCS Industries, ComTech Services and Broadband Remarketing International. For more information, please visit the corporate web site at www.addvantagetech.com.
The information in this announcement may include forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments that the Company expects or anticipates will or may occur in the future, are forward-looking statements. These statements are subject to risks and uncertainties, which could cause actual results and developments to differ materially from these statements. A complete discussion of these risks and uncertainties is contained in the Company's reports and documents filed from time to time with the Securities and Exchange Commission.
(Tables follow)
View data ADDVANTAGE TECHNOLOGIES GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
Three Months Ended
December 31,
2010 2009
----------- -----------
Sales:
Net new sales income $ 6,525,013 $ 6,569,913
Net refurbished sales income 1,401,501 2,268,803
Net service income 1,302,932 1,380,505
----------- -----------
Total net sales 9,229,446 10,219,221
Cost of sales 6,349,881 6,888,881
----------- -----------
Gross profit 2,879,565 3,330,340
Operating, selling, general and administrative
expenses 1,498,506 1,730,767
----------- -----------
Income from operations 1,381,059 1,599,573
Interest expense 185,424 211,934
----------- -----------
Income before provision for income taxes 1,195,635 1,387,639
Provision for income taxes 455,000 528,000
----------- -----------
Net income attributable to common shareholders 740,635 859,639
Other comprehensive income:
Unrealized gain on interest rate swap, net of
taxes 147,169 91,980
----------- -----------
Comprehensive income $ 887,804 $ 951,619
=========== ===========
Earnings per share:
Basic $ 0.07 $ 0.08
Diluted $ 0.07 $ 0.08
Shares used in per share calculation:
Basic 10,143,970 10,116,820
Diluted 10,154,523 10,120,085
ADDVANTAGE TECHNOLOGIES GROUP, INC.
CONSOLIDATED BALANCE SHEETS
December 31, September 30,
2010 2010
(unaudited) (audited)
------------- -------------
Assets
Current assets:
Cash and cash equivalents $ 10,398,858 $ 8,739,151
Accounts receivable, net of allowance of
$300,000 2,758,523 4,905,733
Income tax refund receivable - 203,405
Inventories, net of allowance for excess
and obsolete inventory of $2,643,000
and $2,545,000, respectively 28,588,730 27,410,722
Prepaid expenses 54,334 92,567
Deferred income taxes 1,440,000 1,423,000
------------- -------------
Total current assets 43,240,445 42,774,578
Property and equipment, at cost:
Land and buildings 7,208,679 7,208,679
Machinery and equipment 3,123,851 3,203,701
Leasehold improvements 205,797 205,797
------------- -------------
10,538,327 10,618,177
Less accumulated depreciation and
amortization (3,436,425) (3,393,921)
------------- -------------
Net property and equipment 7,101,902 7,224,256
Other assets:
Deferred income taxes 578,000 678,000
Goodwill 1,560,183 1,560,183
Other assets 11,236 23,236
------------- -------------
Total other assets 2,149,419 2,261,419
------------- -------------
Total assets $ 52,491,766 $ 52,260,253
============= =============
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $ 3,289,984 $ 2,751,498
Accrued expenses 833,593 1,340,414
Notes payable - current portion 1,814,008 1,814,008
------------- -------------
Total current liabilities 5,937,585 5,905,920
Notes payable 11,604,626 12,058,128
Other liabilities 1,015,514 1,252,683
Shareholders' equity:
Common stock, $.01 par value; 30,000,000
shares authorized; 10,367,934 shares
issued and 10,143,970 shares outstanding 103,679 103,679
Paid in capital (6,068,271) (6,070,986)
Retained earnings 40,934,426 40,193,791
Accumulated other comprehensive income
(loss):
Unrealized loss on interest rate swap,
net of tax (629,514) (776,683)
------------- -------------
34,340,320 33,449,801
Less: Treasury stock, 223,964 shares, at
cost (406,279) (406,279)
------------- -------------
Total shareholders' equity 33,934,041 33,043,522
------------- -------------
Total liabilities and shareholders' equity $ 52,491,766 $ 52,260,253
============= =============
ADDVANTAGE TECHNOLOGIES GROUP, INC. CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended December 31, 2010 2009 ----------- ----------- Sales: Net new sales income $ 6,525,013 $ 6,569,913 Net refurbished sales income 1,401,501 2,268,803 Net service income 1,302,932 1,380,505 ----------- ----------- Total net sales 9,229,446 10,219,221 Cost of sales 6,349,881 6,888,881 ----------- ----------- Gross profit 2,879,565 3,330,340 Operating, selling, general and administrative expenses 1,498,506 1,730,767 ----------- ----------- Income from operations 1,381,059 1,599,573 Interest expense 185,424 211,934 ----------- ----------- Income before provision for income taxes 1,195,635 1,387,639 Provision for income taxes 455,000 528,000 ----------- ----------- Net income attributable to common shareholders 740,635 859,639 Other comprehensive income: Unrealized gain on interest rate swap, net of taxes 147,169 91,980 ----------- ----------- Comprehensive income $ 887,804 $ 951,619 =========== =========== Earnings per share: Basic $ 0.07 $ 0.08 Diluted $ 0.07 $ 0.08 Shares used in per share calculation: Basic 10,143,970 10,116,820 Diluted 10,154,523 10,120,085 ADDVANTAGE TECHNOLOGIES GROUP, INC. CONSOLIDATED BALANCE SHEETS December 31, September 30, 2010 2010 (unaudited) (audited) ------------- ------------- Assets Current assets: Cash and cash equivalents $ 10,398,858 $ 8,739,151 Accounts receivable, net of allowance of $300,000 2,758,523 4,905,733 Income tax refund receivable - 203,405 Inventories, net of allowance for excess and obsolete inventory of $2,643,000 and $2,545,000, respectively 28,588,730 27,410,722 Prepaid expenses 54,334 92,567 Deferred income taxes 1,440,000 1,423,000 ------------- ------------- Total current assets 43,240,445 42,774,578 Property and equipment, at cost: Land and buildings 7,208,679 7,208,679 Machinery and equipment 3,123,851 3,203,701 Leasehold improvements 205,797 205,797 ------------- ------------- 10,538,327 10,618,177 Less accumulated depreciation and amortization (3,436,425) (3,393,921) ------------- ------------- Net property and equipment 7,101,902 7,224,256 Other assets: Deferred income taxes 578,000 678,000 Goodwill 1,560,183 1,560,183 Other assets 11,236 23,236 ------------- ------------- Total other assets 2,149,419 2,261,419 ------------- ------------- Total assets $ 52,491,766 $ 52,260,253 ============= ============= Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 3,289,984 $ 2,751,498 Accrued expenses 833,593 1,340,414 Notes payable - current portion 1,814,008 1,814,008 ------------- ------------- Total current liabilities 5,937,585 5,905,920 Notes payable 11,604,626 12,058,128 Other liabilities 1,015,514 1,252,683 Shareholders' equity: Common stock, $.01 par value; 30,000,000 shares authorized; 10,367,934 shares issued and 10,143,970 shares outstanding 103,679 103,679 Paid in capital (6,068,271) (6,070,986) Retained earnings 40,934,426 40,193,791 Accumulated other comprehensive income (loss): Unrealized loss on interest rate swap, net of tax (629,514) (776,683) ------------- ------------- 34,340,320 33,449,801 Less: Treasury stock, 223,964 shares, at cost (406,279) (406,279) ------------- ------------- Total shareholders' equity 33,934,041 33,043,522 ------------- ------------- Total liabilities and shareholders' equity $ 52,491,766 $ 52,260,253 ============= =============
View dataADDvantage Technologies Group, Inc.
1221 E. Houston
Broken Arrow, Oklahoma 74012
For further information
Company Contact:
Ken Chymiak
(918) 251-9121
Scott Francis
(918) 251-9121
KCSA Strategic Communications
Garth Russell
(212) 896-1250
grussell@kcsa.com
ADDvantage Technologies Group, Inc. 1221 E. Houston Broken Arrow, Oklahoma 74012 For further information Company Contact: Ken Chymiak (918) 251-9121 Scott Francis (918) 251-9121 KCSA Strategic Communications Garth Russell (212) 896-1250 grussell@kcsa.com
SOURCE: ADDvantage Technologies Group, Inc.
mailto:grussell@kcsa.com
Hank, what was your reasoning for adding today? Was there additional news or just review of your DD that made you decide to aquire more?
I personally dont eat there either. However, as long as America continues to have 65% + of its population obese, I think Chipotle will do just fine.
Everything is under 10 bucks and the burrito is the size of a football.
NOVEMBER 10, 2010, 10:42 A.M. ET Chipotle Takes Patient Stance On Raising Prices Article Email Printer
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By Paul Ziobro
Of DOW JONES NEWSWIRES
LAS VEGAS (Dow Jones)--Chipotle Mexican Grill Inc. (CMG) is taking a patient stance on its pricing strategy: It plans to hold off on raising prices next year until after its competitors do, Chief Financial Officer Jack Hartung said.
Chipotle will monitor how other chains' sales fare with higher prices, offering Chipotle insight that will help evaluate how to adjust prices to offset food costs that are expected to rise in the low- to mid-single digit percent range.
"We are in a position of strength," Hartung said during a panel discussion Tuesday at the Restaurant Finance & Development Conference in Las Vegas. "Others are going to have to increase prices before we do."
Restaurant chains are bracing for higher food costs next year, as prices for beef, cheese, wheat and other ingredients are all up. Chains are now mapping out their pricing strategy that will come at a time when the consumer mindset is still shaky.
Delaying price increases until after other chains do so could eat into Chipotle's profits, which are among the highest in the restaurant industry, as the company absorbs the higher costs.
Chipotle has the luxury of being patient on raising prices, Hartung said. With all of its 1,000 restaurants company owned, Chipotle doesn't face pressure from franchisees to raise prices, he said.
Any price increase that Chipotle does initiate would likely come alongside the burrito chain incorporating another sustainably raised ingredient, such as naturally raised beef or pasture-raised dairy, to help reinforce the chain's "Food with Integrity" mantra, Hartung said in an interview.
Hartung wouldn't say how much price increases may come to next year, but said the company has the "pricing power" to pass on the higher costs. Chipotle's sales have been hot of late, with same-store sales rising 11.4% in its latest quarter, driven nearly entirely by attracting more customers.
Shares have responded in line, ending last year around $90 and now trading above $228.
Chipotle also recently announced that its founder and co-Chief Executive Steve Ells plans to develop an Asian concept some time next year, modeled on Chipotle's operations. Hartung said the name of the store, expected to open next year, hasn't yet been set, nor has the menu been fully developed.
http://online.wsj.com/article/BT-CO-20101110-713506.html
CMG-people swear by it. its like crack cocaine. at least here in Northern VA.
its the McDonalds of Mexican fastfood.
OUCH!
- Statement of Changes in Beneficial Ownership (4)
Date : 01/03/2011 @ 5:37PM
Source : Edgar (US Regulatory)
Stock : (CLFD)
Quote : 3.54 -0.39 (-9.92%) @ 7:22AM
- Statement of Changes in Beneficial Ownership (4)
FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
OMB Number: 3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
Hill John P 2. Issuer Name and Ticker or Trading Symbol
Clearfield, Inc. [ CLFD ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director _____ 10% Owner
__ X __ Officer (give title below) _____ Other (specify below)
Chief Operating Officer
(Last) (First) (Middle)
5480 NATHAN LANE N. SUITE 120 3. Date of Earliest Transaction (MM/DD/YYYY)
12/31/2010
(Street)
PLYMOUTH, MN 55442
(City) (State) (Zip) 4. If Amendment, Date Original Filed (MM/DD/YYYY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK (ESPP) 12/31/2010 A V 1220 A $2.13 11220 (1) D
Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
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(Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
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(Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
( 1) In accordance with the ESPP, these shares were purchased based on 85% of the closing price on July 1, 2010.
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Hill John P
5480 NATHAN LANE N. SUITE 120
PLYMOUTH, MN 55442
Chief Operating Officer
Signatures
John P. Hill 1/3/2011
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Clearfield (MM) (NASDAQ:CLFD)
Historical Stock Chart
1 Year : January 2010 to January 2011
Clearfield (MM) (NASDAQ:CLFD)
Intraday Stock Chart
Today : Tuesday 4 January 2011
CLFD was full of sound and fury,signifying nothing today.
it was 2000 not 20,000
ADDvantage Technologies Announces Fiscal 2010 Financial Results
Date : 12/14/2010 @ 8:00AM
Source : MarketWire
Stock : ADDvantage Technologies Group, Inc. (AEY)
Quote : 3.67 0.0 (0.00%) @ 7:22AM
ADDvantage Technologies Announces Fiscal 2010 Financial Results
Addvantage Technologies Grp. (MM) (NASDAQ:AEY)
Intraday Stock Chart
Today : Tuesday 14 December 2010
ADDvantage Technologies Group, Inc. (NASDAQ: AEY) today announced its results for the three and twelve month periods ended September 30, 2010.
Revenue for the three month period ended September 30, 2010 was $11.7 million compared to $10.2 million in the same period a year ago, an increase of 15%. Sales of new equipment increased $2.2 million, or 35%, to $8.4 million for the three months ended September 30, 2010 from $6.2 million for the three months ended September 30, 2009. Net refurbished equipment sales decreased 26%, to $1.8 million for the three months ended September 30, 2010 from $2.5 million for the same period last year. Service revenue remained substantially unchanged at $1.5 million for the three months ended September 30, 2010 and 2009.
Net income attributable to common stockholders in the fourth quarter of fiscal 2010 increased 19% to $0.8 million, or $0.08 per diluted share, as compared to $0.7 million, or $0.07 per diluted share, in the same period last year.
For the twelve months ended September 30, 2010, revenue increased 12% to $47.3 million, compared to $42.2 million, for the same period last year.
Net income attributable to common stockholders for the twelve month period ended September 30, 2010 increased 39% to $4.2 million, or $0.41 per diluted share, as compared to $3.0 million, or $0.30 per diluted share, for the twelve months of fiscal 2009.
Ken Chymiak, President and CEO, commented, "We are pleased with the increased revenues in fiscal year 2010 as compared to last year, especially in light of the difficult economic environment. Our financial strength has improved due to the increased revenues, reductions in inventory and reductions in our operating expenses. The overall market demand for cable television equipment continues to be flat as a result of the difficult economic environment and the traditional United States cable companies are still under pressure as new housing starts and consumer spending are still down. We continue to manage our business more effectively and reduce inventory levels so they are in line with current and expected levels of customer demand.
"Our business has generated increased sales in certain product categories. This includes greater demand for headend equipment from MSOs as they add channels to their systems and upgrade equipment to provide HD programming; and the expansion into new products as we ramped up sales under the new master distribution agreement with Fujitsu Frontech. We also continued to capitalize on growing demand from customers and cable equipment distributors in Latin America. Though our non-U.S. sales were less than 15% of total sales in fiscal 2010, the demand from Latin America has been a positive trend for our business.
"The overall financial health of our business has strengthened in fiscal 2010 compared to the end of fiscal 2009, as we reduced inventory by $5.8 million to $27.4 million, increased cash reserves to $8.7 million from $0.7 million and reduced debt by $2.0 million to $13.9 million. As we look ahead into fiscal 2011 and beyond, I am cautiously optimistic that the strengthening of the overall market conditions will help drive continued growth. However, we will continue to adjust our business model to be in line with market conditions and changes in our vendor relationships. In addition, we are looking to enter into additional vendor and strategic relationships that could help bolster our customer base in certain sales and distribution channels," concluded Mr. Chymiak.
Earnings Conference Call
As previously announced, the Company's earnings conference call is scheduled for 12:00 p.m. Eastern Time on Tuesday, December 14, 2010. The conference call will be available via webcast and can be accessed through the Investor Relations section of ADDvantage's website, www.addvantagetech.com. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the Internet broadcast. The dial-in number for the conference call is (888) 395-3227 or (719) 457-2617 for international participants. All dial-in participants must use the following code to access the call: 1121980. Please call at least five minutes before the scheduled start time.
For interested individuals unable to join the conference call, a replay of the call will be available through December 28, 2010 at (877) 870-5176 (domestic) or (858) 384-5517 (international). Participants must use the following code to access the replay of the call: 1121980. The online archive of the webcast will be available on the Company's website for 30 days following the call.
About ADDvantage Technologies Group, Inc.
ADDvantage Technologies Group, Inc. supplies the cable television (CATV) industry with a comprehensive line of new and used system-critical network equipment and hardware from leading manufacturers, including Cisco, formerly Scientific-Atlanta, Motorola, and Fujitsu Frontech, as well as operating a national network of technical repair centers. The equipment and hardware ADDvantage distributes is used to acquire, distribute, and protect the broad range of communications signals carried on fiber optic, coaxial cable and wireless distribution systems, including television programming, high-speed data (Internet) and telephony.
ADDvantage operates through its subsidiaries, Tulsat, Tulsat-Atlanta, Tulsat-Nebraska, Tulsat-Texas, NCS Industries, ComTech Services and Broadband Remarketing International. For more information, please visit the corporate web site at www.addvantagetech.com.
The information in this announcement may include forward-looking statements. All statements, other than statements of historical facts, which address activities, events or developments that the Company expects or anticipates will or may occur in the future, are forward-looking statements. These statements are subject to risks and uncertainties, which could cause actual results and developments to differ materially from these statements. A complete discussion of these risks and uncertainties is contained in the Company's reports and documents filed from time to time with the Securities and Exchange Commission.
(Tables follow)
ADDVANTAGE TECHNOLOGIES GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
Three Months Ended
September 30, Year Ended September 30,
2010 2009 2010 2009
------------- ------------- ------------- -------------
Total net sales $ 11,733,939 $ 10,168,043 $ 47,306,130 $ 42,243,592
Income from
operations $ 1,560,353 $ 1,358,303 $ 7,553,660 $ 5,768,343
Interest expense $ 191,622 $ 218,410 $ 801,211 $ 936,339
Net income
attributable to
common shareholders $ 848,731 $ 711,893 $ 4,186,449 $ 3,019,004
Earnings per share:
Basic $ 0.08 $ 0.07 $ 0.41 $ 0.30
Diluted $ 0.08 $ 0.07 $ 0.41 $ 0.30
Shares used in per
share calculation:
Basic 10,143,970 10,138,994 10,132,658 10,162,122
Diluted 10,148,629 10,141,631 10,136,610 10,164,216
ADDVANTAGE TECHNOLOGIES GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
September 30, September 30,
2010 2009
(unaudited) (audited)
------------- -------------
Assets
Current assets:
Cash and cash equivalents $ 8,739,151 $ 700,004
Accounts receivable, net of allowance of
$300,000 4,905,733 4,199,136
Income tax refund receivable 203,405 88,411
Inventories, net of allowance for excess and
obsolete inventory of $2,545,000 and
$2,196,000, respectively 27,410,722 33,166,624
Deferred income taxes 1,423,000 1,282,000
Prepaid expenses 92,567 107,423
------------- -------------
Total current assets 42,774,578 39,543,598
Net property and equipment 7,224,256 7,556,667
Total other assets 2,261,419 2,332,281
------------- -------------
Total assets $ 52,260,253 $ 49,432,546
============= =============
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $ 2,751,498 $ 2,523,143
Accrued expenses 1,340,414 1,095,822
Notes payable - current portion 1,814,008 1,863,767
------------- -------------
Total current liabilities 5,905,920 5,482,732
Notes payable 12,058,128 13,992,873
Other liabilities 1,252,683 1,049,685
Total shareholders' equity 33,043,522 28,907,256
------------- -------------
Total liabilities and shareholders' equity $ 52,260,253 $ 49,432,546
============= =============
For further information
Company Contact:
Ken Chymiak
(918) 251-9121
Scott Francis
(918) 251-9121
KCSA Strategic Communications
Garth Russell
(212) 896-1250
grussell@kcsa.com
anyone here any news lately?
RedChip Announces Presentation Schedule for Small-Cap Investor Conference at Financial Fest 2010
Oct 25, 2010 10:30:30 (ET)
ORLANDO, Fla., Oct 25, 2010 (GlobeNewswire via COMTEX) -- RedChip Companies, Inc. today announced the presentation schedule for the RedChip Small-Cap Investor Conference at Financial Fest 2010, being held November 6, 2010 at the Phoenix Convention Center in Phoenix, Arizona. CEOs and executive teams from 17 emerging growth companies based in China, Russia, Pakistan, Canada, Greece, and the U.S. will deliver corporate presentations at the conference.
Financial Fest brings qualified investors together with the nation's premier public companies and investment opportunities. RedChip is proud to co-sponsor this year's event with KFNN 1510 Financial News Radio, one of the Phoenix area's largest and most popular sources of business and financial news.
Allan Watson, Executive Director and founding member of NYC Trading Floor, will deliver the keynote address at the conference. Prior to starting NYC Trading Floor, whose goal is to provide active investors with comprehensive, real-time market data and professional trading services, Mr. Watson was the Head of Derivative Operations for Europe, the Middle East, and Africa at the Chicago-based Northern Trust bank. Mr. Watson is currently responsible for NYC Trading Floor's daily global markets insight and trading strategy newsletter and is now a regular contributor to Red Chip Small-Cap Radio.
RedChip conferences provide networking opportunities and executive presentations from companies representing a broad range of sectors including Biotechnology, Healthcare, Education, Oil & Gas, Basic Materials, Consumer Goods, Alternative Energy, and Precious Metals Mining. To date, some of the companies scheduled to present include the following:
-- NetSol Technologies, Inc. (NTWK, Trade )
-- Shiner International, Inc. (BEST, Trade )
-- China Chemical Corp. (otcqb:CHCC)
-- HQ Global Education Inc. (HQGE, Trade )
-- Lotus Pharmaceuticals, Inc. (LTUS, Trade )
-- Viridis Energy Inc.
For a current schedule of presenting companies, visit
http://www.redchip.com/visibility/conferencePages/phoenix2010/conferenceMain.asp?page=presenterlist . Company presentations will be webcast live and archived for a minimum of 30 days at http://www.RedChip.com .
Attendance is free for pre-qualified financial professionals and investors. Seating is limited and will be reserved on a first come, first served basis. To reserve your spot, please visit http://www.redchip.com/visibility/conferencePages/Phoenix2010/conferenceMain.asp or call 1-800-RedChip (733-2447), Ext. 107.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Beijing, China; Paris, France; and Seoul, Korea. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(TM), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Small-Cap TV(TM), Shareholder Intelligence, Social Media and Blogging Services, Webcasts, and RedChip Radio(TM). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp .
The RedChip Companies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2761
"Discovering Tomorrow's Blue Chips Today"(TM)
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: RedChip Companies Inc.
CONTACT: RedChip Companies, Inc.
Jon Cunningham
1-800-733-2447, Ext. 107
info@redchip.com
http://www.redchip.com
http://www.investors.com/NewsAndAnalysis/Newsfeed/Article/120418865/201010150520/Transglobe-Energy-Rises-374-on-Heavy-Volume-Watch-For-Pullback-TGA-.aspx
Transglobe Energy Rises 3.74% on Heavy Volume: Watch For Pullback (TGA)
Posted 10/15/2010 05:20 AM ET
Featured Stocks
TGA Transglobe Energy Corp
* Top-Rated Company
1" 2" Oct 15, 2010 (SmarTrend(R) News Watch via COMTEX) -- Transglobe Energy (TGA) traded in a range yesterday that spanned from a low of $10.46 to a high of $10.95. Yesterday, the shares gained 3.74%, which took the trading range above the 3-day high of $10.49 on volume of 441,000 shares.
Shares of Transglobe Energy are currently trading above their 50-day moving average (MA) of $8.25 and above their 200-day MA of $6.45. Look for these MAs to provide support for a short-term pullback in the shares.
SmarTrend is bullish on shares of Transglobe Energy and our subscribers were alerted to Buy on June 02, 2010 at $7.45. The stock has risen 45.2% since the alert was issued.
SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $10.49 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Independent Oil & Gas industry.
Write to Chip Brian at cbrian@tradethetrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.mysmartrend.com/signup
Copyright, Comtex News Network, Inc. 2010
Lotus Pharmaceuticals Announces New Patent for Controlled-Release Diabetes Drug
Oct 19, 2010 10:30:00 (ET)
BEIJING, Oct 19, 2010 /PRNewswire via COMTEX/ -- Lotus Pharmaceuticals, Inc. (LTUS, Trade ) ("Lotus" or the "Company"), a fast-growing, profitable developer, manufacturer and seller of medicine and drugs in the People's Republic of China ("PRC"), announced today that its wholly owned subsidiary, En Ze Jia Shi Pharmaceuticals, has been issued a patent by the State Intellectual Property Office of the People's Republic of China for controlled-release oral gliclazide. The patent covers the composition and preparation methods for the drug through 2030.
Gliclazide is commonly used to control mild to moderate adult-onset Type 2 diabetes. The drug belongs to the second generation of sulfonylureas, a class of anti-diabetic drugs that stimulate the pancreas to release more insulin. Lotus' novel controlled-release gliclazide tablet is formulated using osmotic pump technology, which encases the drug in a semi-permeable framework for a gradual, sustained release. The drug release is designed to be minimally affected by pH, gastric acid and food intake. In preclinical studies, the tablets demonstrated a similar rate of drug release in both in vitro and in vivo models.
According to the Company's proprietary market research, the worldwide diabetic population is expected to reach 239 million people by 2010. China currently has about 40 million diabetic patients, with an additional 1.5 to 2 million patients diagnosed each year. China's diabetes drug market is estimated at RMB 7 billion (US $1.1 billion) annually and is expected to surpass RMB 10 billion (US $1.5 billion) in four years. Gliclazide accounts for approximately 28%, or RMB 1.25 billion (US $188.1 million), of the sulfonylurea market in China.
Chairman and Chief Executive Officer Mr. Zhongyi Liu stated, "We believe our controlled-release gliclazide tablet will have a meaningful impact on the clinical treatment of diabetes. The drug release rate of conventional oral gliclazide is uncontrolled, which can lead to unpleasant side effects due to quick drug release. Our controlled-release formulation has the potential to provide a more stable and sustained drug delivery compared to conventional gliclazide, resulting in fewer side effects, greater efficacy and an improved safety profile. In addition, the controlled-release tablet could potentially reduce dosing frequency. This is a significant benefit for diabetic patients, who generally require long-term daily medication."
Mr. Liu continued, "We expect to start clinical trials in 2012 after receiving authorization from the State Food and Drug Administration, with regulatory approval expected in 2014. Our market research indicates that the global gliclazide market will reach RMB 1.5 billion, or approximately $225.7 million, by that time. We aim to capture nearly one-tenth of this market, achieving peak sales of approximately $15 million per year. We expect a gross margin of about 60 percent and a net profit of about 30 percent for this product. The demand and market potential are significant, and given our 20-year patent protection, we expect to enjoy market exclusivity for controlled-release gliclazide through at least 2030."
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals, Inc. is a fast-growing, profitable developer and producer of drugs and a licensed national seller of pharmaceutical items in the People's Republic of China (PRC). Lotus operates its business through its two controlled entities: Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus' current drug development is focused on the treatment of cerebro-cardiovascular diseases, asthma and diabetes. Liang Fang sells drugs directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces of the PRC.
Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
At the Company:
Xing Shen, Ph.D.
VP of Corporate Development
Lotus Pharmaceuticals, Inc.
Phone: +1-415-690-7688
Email: shen@lotuspharma.com
Web:
http://www.lotuspharma.com
Investor Relations:
Dave Gentry
RedChip Companies, Inc.
Phone: 1-800-733-2447, Ext. 104
Email: info@redchip.com
Jing Zhang, China
RedChip Beijing Representative Office
Phone: +86-10-8591-0635
Web:
http://www.RedChip.com
China Sun Group High-Tech Co. Announces First Quarter Fiscal Year 2011 Financial Results
Oct 14, 2010 16:00:00 (ET)
DALIAN, China, Oct 14, 2010 /PRNewswire via COMTEX/ -- China Sun Group High-Tech Co. (CSGH, Trade ) ("China Sun Group" or the "Company"), a vertically integrated supplier of raw materials for rechargeable Lithium-ion (Li-ion) batteries in China, today announced results for its first quarter ended August 31, 2010.
First Quarter 2011 Highlights:
Revenue increased 26.2% over the prior year quarter to $11.8 million
Operating margin of 27.7%
Net profit margin of 20.7%
Earnings per diluted share of $0.05
"Fiscal year 2011 got off to a solid start as we experienced increased customer demand throughout the first quarter," noted China Sun Group's Chief Executive Officer, Mr. Guosheng Fu. "The growth in demand for our expanded portfolio of products, which now includes Lithium Iron Phosphate (LIP), was in-line with management's expectations for the quarter, with revenue increasing 26% compared to the first quarter of the prior fiscal year. Furthermore, although higher raw materials costs resulted in lower gross margins in the most recent quarter compared to the prior year period, we anticipate that the revenue contribution from our new, higher margin LIP segment will steadily increase as the year progresses as we expect LIP production to ramp up throughout fiscal year 2011."
Continuing, Mr. Fu added, "We anticipate increased demand for LIP, which is used in the manufacture of batteries for eco-friendly cars, in part, as a result of the Chinese Government's recently announced 12th Five-Year Plan, which specifically identifies environmentally friendly as well as energy efficient industries and composite materials for preferential policy treatment in the form of government investment, tax incentives, and access to capital."
"Finally, given our strong performance in what is historically the weakest quarter of the year in terms of customer demand, we remain on schedule to meet our previously issued fiscal year 2011 financial guidance."
Fiscal First Quarter 2011 Results
Revenue for the first fiscal quarter of 2011 was $11.8 million compared to revenue of $9.3 million in the prior year period, an increase of 26.2%. The increase was attributable to higher customer demand in the most recent period and the introduction of a new product, Lithium Iron Phosphate, which was not offered in the prior year period.
First fiscal quarter ended August
31, tons sold 2011 2010
Cobaltosic oxide 288 233
Lithium iron phosphate 135 0
Gross profit for the quarter was $3.7 million or 31.5% of revenues compared to $3.1 million or 32.8% of revenues in the same quarter a year ago. The reduction in gross margin was largely due to an increase in the cost of raw materials.
Operating income for the first fiscal quarter of 2011 was $3.3 million compared to operating income of $2.8 million in the prior year period, an increase of 17.6%. The increase in operating income resulted primarily from increased customer demand which was offset by higher sales and marketing expenses compared to the prior year period as the Company increased advertising and began to expand its customer network for the growing Lithium Iron Phosphate segment. The increase in operating income was also offset by an increase in general and administrative expenses, primarily due to higher non-recurring legal expenses incurred in the most recent quarter.
Net income for the first fiscal quarter of 2011 was $2.4 million, or $0.05 per basic and diluted share, which represents a 17.8% increase from the $2.1 million, or $0.04 per basic and diluted share, in the first quarter of fiscal 2010.
Update on Research and Product Development Plans and Funding Sources
The Company is continuing to develop its Lithium Iron Phosphate business in collaboration with potential customers' R&D and product development facilities. Since the beginning of fiscal year 2010, the Company has sent LIP samples to 32 potential customers. Although the testing process is ongoing, China Sun expects additional orders for LIP from new customers beginning in the second fiscal quarter of this year. Additional output would require expansion of the Company's production facilities. The Company believes that its cash reserves, which stood at $19.4 million as of August 31, 2010, will be sufficient to fund the capital investment required for additional LIP production.
In addition to co-operation and testing with potential customers, the Company is also investing research funds into the development of its own power Li-ion batteries. The Company believes that there is a significant market for the product and plans to continue further research and development. If results are favorable, the Company would make a significant investment in manufacturing facilities for power Li-ion batteries later in fiscal 2011. The Company has retained the financial advisory services of Grandview Capital in order actively explore financing alternatives that would be suitable for funding the power Li-ion battery project.
As part of the Company's commitment to operating under the highest standards of corporate governance and accountability, China Sun recently retained the services of international law firm, Reed Smith LLP as its new U.S. corporate and securities counsel. Reed Smith will handle U.S. securities filings, regulatory compliance and transactions in the U.S., ensuring the highest levels of disclosure and transparency.
Fiscal Year 2011 Outlook
Given the Company's first quarter production levels and the anticipated demand over the remaining nine months of fiscal year 2011, China Sun continues to anticipate producing 1,200 tons of cobaltosic oxide and 600 tons of Lithium Iron Phosphate for the full year with the Lithium Iron Phosphate production occurring mostly in the second half of the year. As a result of this forecast and management's expectations for raw materials prices over the next nine months, China Sun reaffirms the previously issued full year guidance of revenue in the range of $56.0 million to $58.0 million, net income in the range of $10.0 million to $ 11.0 million, and net income per diluted share in the range of $0.18 to $0.20.
About China Sun Group High-Tech Co.
China Sun Group High-Tech Co. ("China Sun Group") produces anode materials used in lithium ion batteries. Through its wholly-owned operating subsidiary, Dalian Xinyang High-Tech Development Co. Ltd ("DLX"), the Company primarily produces cobaltosic oxide and lithium cobalt oxide. According to the China Battery Industry Association, DLX has the second largest cobalt series production capacity in the People's Republic of China. Through its research and development division, DLX owns a proprietary series of nanometer technologies that supply state-of-the-art components for advanced lithium ion batteries. Leveraging its state-of-the-art technology, high-quality product line and scalable production capacity, the Company has recently diversified into the manufacture of LIP and plans to forward integrate to manufacture of power Li-ion batteries. For more information, visit http://www.china-sun.cn .
Safe Harbor Statement
The statements contained herein that are not historical facts are considered "forward-looking statements." Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, statements regarding the Company's ability to become a leading anode material supplier for Li-ion batteries used in the new energy automobile industry are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov .
FINANCIAL TABLES FOLLOW
CHINA SUN GROUP HIGH-TECH CO.
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF AUGUST 31, 2010 AND MAY 31, 2010
(Currency expressed in United States Dollars ("US$"), except for
number of shares)
August 31,
2010 May 31, 2010
---------- ------------
(Unaudited) (Audited)
ASSETS
Current assets:
Cash and cash equivalents $19,369,159 $18,017,266
Accounts receivable, trade 2,906,581 2,793,038
Inventories 591,949 1,218,336
Deposits and prepayments 9,785 3,049
Total current assets 22,877,474 22,031,689
Non-current assets:
Technical know-how, net 2,438,475 2,475,298
Property, plant and equipment, net 20,271,428 20,567,954
---------
TOTAL ASSETS $45,587,377 $45,074,941
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable, trade $397,263 $2,127,244
Income tax payable 1,085,744 1,488,619
Other payables and accrued liabilities 1,091,503 984,189
--------- ------
Total liabilities 2,574,510 4,600,052
Commitments and contingencies
Stockholders' equity:
Convertible preferred stock, $0.001 par
value; 20,000,000 shares authorized;
none of shares issued and outstanding,
respectively - -
Common stock, $0.001 par value;
100,000,000 shares authorized;
53,422,971 shares and 53,422,971
shares issued and outstanding,
respectively 53,423 53,423
Additional paid-in capital 9,585,204 9,585,204
Accumulated other comprehensive income 3,150,587 3,043,344
Statutory reserve 2,277,365 2,277,365
Retained earnings 27,946,288 25,515,553
--------- ---------
Total stockholders' equity 43,012,867 40,474,889
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $45,587,377 $45,074,941
=========== ===========
CHINA SUN GROUP HIGH-TECH CO.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED AUGUST 31, 2010 AND 2009
(Currency expressed in United States Dollars ("US$"), except for
number of shares)
(Unaudited)
Three months ended August
31,
--------------------------
2010 2009
---- ----
Revenues, net $11,753,459 $9,313,336
Cost of revenue (inclusive of
depreciation and amortization) 8,046,456 6,254,566
--------- ---------
Gross profit 3,707,003 3,058,770
Operating expenses:
Sales and marketing 31,326 23,294
Research and development 20,933 25,575
General and administrative 400,385 241,678
Total operating expenses 452,644 290,547
INCOME FROM OPERATIONS 3,254,359 2,768,223
Other income:
Interest income 10,639 8,058
----- ----
INCOME BEFORE INCOME TAXES 3,264,998 2,776,281
Income tax expense (834,263) (712,938)
NET INCOME $2,430,735 $2,063,343
========== ==========
Other comprehensive income (loss):
-Foreign currency translation gain
(loss) 107,243 (75,273)
------- -------
COMPREHENSIVE INCOME $2,537,978 $1,988,070
========== ==========
Net income per share - Basic and
diluted $0.05 $0.04
===== =====
Weighted average common stock
outstanding - Basic and diluted 53,422,971 53,422,971
========== ==========
CHINA SUN GROUP HIGH-TECH CO.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED AUGUST 31, 2010 AND 2009
(Currency expressed in United States Dollars ("US$"), except for
number of shares)
(Unaudited)
Three months ended August
31,
--------------------------
2010 2009
---- ----
Cash flows from
operating activities:
Net income $2,430,735 $2,063,343
Adjustments to reconcile
net income to net cash
provided by operating
activities:
Depreciation of
property, plant and
equipment 401,323 210,253
Amortization of
technical know-how 43,601 -
Changes in operating
assets and liabilities:
Accounts receivable,
trade (106,097) 189,105
Inventories 630,519 1,215,028
Value-added tax
receivable - 359,074
Deposits and prepayments (6,736) 209,908
Accounts payable, trade (1,738,029) (836,861)
Income tax payable (407,449) (84,338)
Other payables and
accrued liabilities 105,284 (60,292)
------- -------
1,353,151 3,265,220
Net cash provided by
operating activities
Cash flows from
investing activities:
Purchase of plant and
equipment (48,486) (16,313)
Addition of construction
in progress - (1,024,155)
(48,486) (1,040,468)
Net cash used in
investing activities
Effect of exchange rate
changes on cash and
cash equivalents 47,228 (21,055)
------ -------
NET CHANGE IN CASH AND
CASH EQUIVALENTS 1,351,893 2,203,697
CASH AND CASH
EQUIVALENTS, BEGINNING
OF PERIOD 18,017,266 9,209,953
---------- ---------
CASH AND CASH
EQUIVALENTS, END OF
PERIOD $19,369,159 $11,413,650
=========== ===========
SUPPLEMENTAL DISCLOSURE OF CASH FLOW
INFORMATION:
Cash paid for income
taxes $1,241,712 $797,276
Cash paid for interest $ - $ -
== == == ==
NON-CASH INVESTING AND FINANCING
ACTIVITIES:
Transfer from
construction in
progress to property,
plant and equipment $ - $2,560,385
=== === ==========
For more information, please contact:
Company Contact:
Mr. Guosheng Fu, Chief Executive Officer
China Sun Group High-Tech Co.
Phone: +86-411-8288-9800/ +86-411-8289-2736 (China)
Email: ir@china-sun.cn
Website:
www.china-sun.cn
Investor Relations Contact:
Mr. Mark Collinson, Partner
CCG Investor Relations
Phone: +1-310-954-1343
Email: mark.collinson@ccgir.com
Website:
www.ccgirasia.com
TransGlobe Target Raised To C$12 From C$10 By Canaccord Genuity >TGA
Sep 20, 2010 06:42:11 (ET)
(END) Dow Jones Newswires (212-416-2400)
September 20, 2010 06:42 ET (10:42 GMT)
Sunwin International and WILD Flavors Unveil Several Innovative Food and Beverage Concepts Using Sunwin Stevia(TM) at IFT 2010Font size: A | A | A6:02 AM ET 8/19/10 | Marketwire
Sunwin International Neutraceuticals, Inc. (OTCBB: SUWN), one of the top global providers of high quality stevia extracts including Sunwin Stevia(TM) Rebaudioside A 98 and WILD Flavors, Inc., a global leader in food, beverage and flavor product development, announced that the WILD Flavors, Inc. has unveiled several innovative food and beverage concepts using Sunwin Stevia(TM) at the IFT 2010 Expo. Product demonstrations were designed to showcase several inventive food & beverage concepts using WILD expertise and the all-natural zero calorie sweetener Sunwin Stevia(TM), as well as demonstrate that products utilizing stevia can taste great.
The 2010 Institute of Food Technologists (IFT) Annual Meeting & Food Expo(R) highlighted the latest innovations in food science and technology. The 2010 IFT Food Expo featured over a 1,000 companies exhibiting in 230,000 square feet at Chicago's McCormick Place Convention Center. This one-of-a-kind event brought together all those involved in the science and business of food, and featured noted experts in the food science profession from industry, academia and government. The scientific sessions highlighted the latest research while the Food Expo featured the hottest trends in the science of food and beverages. The Food Expo attracted the largest number of global food suppliers in North America. Attendance at the event was over 21,000.
One of the most popular creations for WILD at this year's IFT was an All Natural Zero-Calorie Peach Iced Tea (naturally sweetened with zero calorie Sunwin Stevia(TM)) while utilizing WILD's Taste Modification Technologies designed exclusively for Sunwin Stevia(TM). Another concept shown was a Sugar Free Blueberry, Acai, and Pomegranate Candy -- a natural, low-calorie hard candy colored with WILD's Colors from Nature(R) acid-stable blue color. Lastly, a Chocolate Cookie with 50% less sugar was well-received by attendees at the show. The cookie was sweetened with Sunwin Stevia(TM) Reb-A 80 with modifiers and featured a natural dark chocolate flavor.
"The partnership between WILD Flavors, Inc. and Sunwin continues to build momentum as we are now able to demonstrate innovative concepts for drinks, candies and cookies that have been very well received at the IFT 2010 Expo. WILD Flavors also had over sixty one-on-one meetings with leading companies from the food and beverage industry to discuss various Sunwin Stevia(TM) initiatives using WILD's proprietary all natural sweetening systems. These advancements demonstrate the world class innovation WILD brings to the industry. The increased capabilities of our partnership continue to attract significant interest within the consumer package goods space," states Jeff Reynolds, President & CEO of Sunwin International's Sunwin USA subsidiary.
WILD and Sunwin Stevia(TM) WILD offers a broad portfolio of FDA GRAS affirmed Sunwin Stevia(TM) products including Reb-A 98, Reb-A 95, Reb-A 80 and Reb-A 60, all that contain 95% Steviol Glycosides. WILD has solved the complicated taste issues associated with stevia by developing proprietary Taste Modification Technologies. WILD's Taste Modification Solutions for stevia possess the ability to dramatically reduce the negative taste characteristics linked with stevia.
About Sunwin International Neutraceuticals, Inc.
Sunwin International Neutraceuticals, Inc. is a vertically integrated leader in the area of all natural, zero calorie stevia sweeteners in addition to the production and sale of essential traditional Chinese medicines prepared from 100 percent natural herbal ingredients. As an industry leader in stevia and herbal processing, Sunwin has built an integrated global firm with sourcing and production capabilities to meet the needs of consumers throughout the world. For more info about Sunwin, please visit: www.sunwininternational.com
About WILD Flavors, Inc.
WILD Flavors, Inc., based in Erlanger, Kentucky, is one of the world's leading privately-owned manufacturers and innovators of natural ingredients for the food and beverage industry. WILD Flavors provides specific flavors, colors, and ingredients as well as innovative and great tasting concepts through application expertise and technological advancements. For more information about WILD Flavors, please visit: www.wildflavors.com
Safe Harbor Statement
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Sunwin International Neutraceuticals, Inc., is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our expectations regarding our production capabilities, our production management capabilities, the success of our products, our competitive advantages and the creation of products that are superior tasting and commercially successful.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2010 and our reports on Form 10-Q.
View dataContacts:
Sunwin
Jeff Reynolds
972-377-2339
jreynolds@sunwinusa.com
Sunwin Investor Relations
Lillian Wong
954-363-7333
ir@sunwininternational.com
WILD Flavors, Inc.
Donna Hansee
859-342-3526
dhansee@wildflavors.com
Contacts: Sunwin Jeff Reynolds 972-377-2339 jreynolds@sunwinusa.com Sunwin Investor Relations Lillian Wong 954-363-7333 ir@sunwininternational.com WILD Flavors, Inc. Donna Hansee 859-342-3526 dhansee@wildflavors.com
SOURCE: Sunwin International Neutraceuticals, Inc.
mailto:jreynolds@sunwinusa.com
mailto:ir@sunwininternational.com
mailto:dhansee@wildflavors.com
OurPet's Company Selected Company of the Month by The Bowser Report
Aug 17, 2010 08:16:26 (ET)
FAIRPORT HARBOR, OH, Aug 17, 2010 (MARKETWIRE via COMTEX) -- OurPet's Company (OPCO, Trade ) ( www.ourpets.com ), a leading proprietary pet supply company, today announced it has been selected Company of the Month for August 2010 by The Bowser Report.
Authored by R. Max Bowser, the 34-year old financial newsletter uses fundamental analysis to select and recommend stocks to its national subscriber base. The publication highlights small-cap and micro-cap stocks trading at $3 per share or less. Companies featured in The Bowser Report do not pay for the research and coverage and also do not edit the newsletter's recommendations. Persons interested in requesting a copy of the August 2010 issue of The Bowser Report should contact http://www.thebowserreport.com or call (757) 877-5979.
Dr. Steve Tsengas, Chairman, President and Chief Executive Officer of OurPet's Company, said, "We are honored to be selected by The Bowser Report as the publication's August 2010 Company of the Month. For more than three decades, Max Bowser has successfully identified many small-cap and micro-cap companies that have strong balance sheets, improving fundamentals and are undervalued by the market."
Dr. Tsengas added, "We recently reported record results for the second quarter of 2010. Net revenue increased 24%, gross profit margin improved to 30.5% and net income increased 50% compared to the same period last year. Looking forward, our results should benefit from further implementation of our multi-pronged growth strategy, the recently completed acquisition of certain assets of Cosmic Pet Products, and the introduction of more than 100 new products this year. These actions are expected to position us favorably for the second half of this year and into 2011."
About OurPet's Company
OurPet's designs, produces and markets a broad line of innovative, high-quality accessory and consumable pet products in the U.S. and overseas. Investors and customers may visit www.ourpets.com for more information about the Company and its products. The Company's Websites include: www.smartscoop.com , www.ecopurenaturals.com , www.playnsqueak.com , and www.flappydogtoys.com .
Forward-looking Statements
Certain of the matters set forth in this press release are forward-looking and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially are the following: business conditions and growth in the industry; general economic conditions; addition or loss of significant customers; the loss of key personnel; product development; competition; risks of doing business abroad; foreign government regulations; fluctuations in foreign rates; rising costs for raw materials and the unavailability of sources of supply; the timing of orders booked; and the other risks that are described from time to time in OurPet's SEC reports.
CONTACT:
OurPet's Company
Dr. Steven Tsengas
(440) 354-6500 (Ext. 111)
INVESTOR RELATIONS:
Robert A. Lentz and Associates, Inc.
Robert Lentz
(614) 876-2000
SOURCE: OurPet's Company