Companies news of 2009-11-03 (page 3)
Bank Mutual Corporation Announces Quarterly Cash Dividend and New Stock Repurchase Program
AMICAS Honored with Exclusive Frost & Sullivan 2009 Growth Leadership of the Year...
LPS Named a Top Financial Technology Provider in FinTech 100Mortgage and Real Estate...
Universal Safety Response Wins Homeland Security Award for Best Crash BarriersUSR's...
Netflix Announces Pricing of $200.0 Million of Its 8.50% Senior Notes Due 2017
IBM Rolls Out Innovative Healthcare Management System for Spain's Castilla y Leon...
LoJack Corp. Announces Third Quarter 2009 Results Webcast and Conference Call
CALC Receives Staff Determination Regarding Nasdaq Delisting- Company evaluating whether...
Webcast Alert: CVPS Q3 2009 Earnings Call
Simpson Manufacturing Co., Inc. to Present at Two Conferences in November
Touchscreen Mobile Phone Adoption Grows at Blistering Pace in U.S. During Past...
United Security Bancshares 3rd Quarter Earnings and Trends Improve
Gila River Gaming Enterprises Chooses GPI for Newest CasinoGPI supplies tables, casino...
Thor Announces Strong Quarterly Sales, Record Backlog, Cash of $326 Million.
Psychemedics Corporation Announces Third Quarter Results$0.12 DIVIDEND DECLARED
Tredegar Board Declares Dividend
AT&T Draws in Moviegoers with Advance Screenings of Summit Entertainment's "The Twilight...
Hagens Berman: Class-Action Lawsuits Against KB Home Expand to Florida, North Carolina and...
Atrium Innovations Joins the Council for Responsible Nutrition
Nissan North America Announces October SalesNissan Posts 5.6 Percent Sales Increase Over...
Susser Holdings to Hold Third Quarter 2009 Earnings Conference Call November 4
Varian, Inc. to Release Fourth Quarter and Full Fiscal Year 2009 Financial Results
CNPV lance une série de modules haut de gamme à 72 cellules monocristallines de 125 mm à...
PPL Receives FERC Approval to Expand Holtwood Hydroelectric Plant
Bankers Petroleum advises of BNK.WT Warrant expiry
BMO Capital Markets Appoints New Head of U.S. Financial Sponsors GroupBMO says private...
Oberthur Technologies Simplifies EMV Migration for U.S. Card IssuersPrepared to Deliver...
Daimler AG Reports a Total of 18,854 Cars Sold for the Mercedes-Benz Cars Division in the...
AMERCO Declares Preferred Stock Dividend
Sunovia Energy Receives Permit from U.S. State Department to Export Infrared Products,...
Bank Mutual Corporation Announces Quarterly Cash Dividend and New Stock Repurchase Program
MILWAUKEE, Nov. 3 /PRNewswire-FirstCall/ -- Bank Mutual Corporation ("Bank Mutual") today announced that the Board of Directors has declared a quarterly cash dividend of $0.07 per share. The cash dividend will be payable December 1, 2009, to shareholders of record on November 13, 2009.
The quarterly cash dividend of $0.07 is the thirty-sixth cash dividend paid by Bank Mutual since becoming a capital stock organization in November 2000.
Michael T. Crowley, Jr., Chairman, President and Chief Executive Officer of Bank Mutual commented, "The Board set the dividend rate in light of an evolving regulatory environment that is becoming stricter, our results over the past several quarters, the current marketplace, and the desire to maintain a strong capital position."
Since its conversion to a fully-shareholder owned company in October 2003, Bank Mutual has repurchased 35.6 million shares of its common stock. Only 24,700 shares remain to be repurchased under Bank Mutual's previous 1.0 million share authorization, which was announced on February 2, 2009. In view of the few shares remaining under the current stock repurchase program, Bank Mutual also announced that its board of directors approved a ninth stock repurchase program whereby the Company may repurchase up to 1.0 million shares of its common stock, which amount represents 2.2% of its currently outstanding shares. Repurchases may be made from time to time and will be effectuated through open market purchases, unsolicited negotiated transactions, or in such other manner deemed appropriate by management. The repurchase program does not specify the timing of purchases or the prices to be paid. The Company's repurchase activities will take into account SEC safe harbor rules and guidance for issuer repurchases.
Mr. Crowley continued, "While we believe that it is appropriate to set a dividend in an amount that is better aligned to current conditions, we also continue to believe that it is in the best interests of Bank Mutual and its shareholders to maintain our flexibility to repurchase shares in appropriate circumstances to help maintain capital at an appropriate level. We are also mindful of the stock price of Bank Mutual's common stock which is now below book value."
Bank Mutual Corporation is traded on The NASDAQ Global Select Market under the symbol BKMU. The Company is the fifth largest banking institution headquartered in the state of Wisconsin, with assets at September 30, 2009, of $3.56 billion. Its subsidiary bank, Bank Mutual, operates 78 offices in the state of Wisconsin and one office in Minnesota.
Bank Mutual Corporation
CONTACT: Michael T. Crowley Jr., Chairman, President and Chief Executive Officer, or Michael W. Dosland, Senior Vice President and Chief Financial Officer, both of Bank Mutual Corporation, +1-414-354-1500
Web Site: http://www.bankmutualcorp.com/
AMICAS Honored with Exclusive Frost & Sullivan 2009 Growth Leadership of the Year AwardAMICAS recognized for growth in North American imaging informatics market; positioned to be the leader in imaging for the electronic medical record
BOSTON, Nov. 3 /PRNewswire-FirstCall/ -- AMICAS, Inc. , a leader in image and information management solutions, today announced that it has been awarded the Frost & Sullivan 2009 North American Growth Leadership of the Year Award in Imaging Informatics. According to Frost & Sullivan, AMICAS captured the largest market share in the North American image and information management market. In 2009, AMICAS more than doubled its market share to over ten percent through a combination of organic growth and its strategic acquisition of Emageon Inc.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060202/AMICASLOGO )
"AMICAS is honored to be recognized by Frost & Sullivan as the 2009 growth leader," said Stephen Kahane MD, president, chief executive officer, and chairman of AMICAS. "AMICAS is a leading, independent provider of image and information management solutions for healthcare - and this award directly reflects our commitment to delivering innovative, high-ROI solutions that enable our customers to realize their quality and productivity goals."
"Frost & Sullivan commends AMICAS for its success in gaining market share and its acquisition of Emageon," said Nadim Daher, senior industry analyst at Frost & Sullivan. "In addition to expanding AMICAS' solutions portfolio with additional leading-edge, innovative solutions developed by Emageon, this move further strengthens the company's market position as a provider of enterprise-wide image management and related systems, expands its market coverage to a larger segment of North American imaging providers, and also provides the opportunity for robust financial growth and continued success."
"AMICAS is a very focused imaging IT company that is in a great competitive position in the industry to provide the imaging components of healthcare IT solutions in conjunction with EMR vendors," said Mr. Daher. "As EMR adoption accelerates, the ability to offer an enterprise-wide, vendor-neutral infrastructure with viewing toolsets for multiple image-intensive specialties will help AMICAS provide the imaging component of the EMR."
AMICAS' imaging EMR solution is proven in installations at many major health systems across the country. Each of these health systems has multiple departmental PACS solutions - many of them from different vendors - that use the single viewer provided by AMICAS' vendor-neutral infrastructure. AMICAS ECM(TM) helps provide excellent service to clinicians throughout the healthcare system while limiting the total cost of ownership from an IT point of view.
AMICAS' solutions range from radiology PACS and cardiology PACS that complement a hospital or integrated delivery network's (IDN) EMR strategy to an end-to-end solution that automates the entire workflow of a radiology practice or imaging center. For hospitals and IDNs, AMICAS provides PACS solutions for multiple image-intensive departments, including radiology and cardiology. In addition, AMICAS provides the industry's leading vendor-neutral enterprise imaging infrastructure that serves as the imaging EMR.
AMICAS is the leader in automation support for imaging-related businesses such as radiology groups, teleradiology businesses, imaging centers, multi-specialty groups, and billing services. In the ambulatory imaging market, AMICAS provides a comprehensive software suite that includes PACS, RIS, critical results management, business intelligence, and radiology billing software.
AMICAS® is a registered trademark and service mark, and AMICAS ECM(TM) is a trademark of AMICAS, Inc. All other trademarks and company names mentioned are the property of their respective owners.
About AMICAS, Inc.
AMICAS, Inc. (http://www.amicas.com/) is a leading independent provider of imaging IT solutions. AMICAS offers the industry's most comprehensive suite of image and information management solutions - from radiology PACS to cardiology PACS, from information systems to cardiovascular information systems, from revenue cycle management solutions to enterprise content management tools designed to power the imaging component of the electronic medical record (EMR). AMICAS provides a complete, end-to-end solution for radiology practices, imaging centers, and ambulatory care facilities. Hospitals and integrated delivery networks are provided with a comprehensive image management solution for cardiology and radiology that supports EMR strategies to enhance clinical, operational, and administrative functions.
About The Frost & Sullivan Award for Growth Leadership of the Year
Frost & Sullivan employs a global research organization of 1,800 analysts and consultants who monitor more than 300 industries and 250,000 companies. The Frost & Sullivan Best Practices Group performs objective research to identify best practices within each industry and functional discipline. This approach enables Frost & Sullivan to determine how best-in-class companies worldwide manage growth, innovation, and leadership. These achievements are recognized with Frost & Sullivan Best Practices Awards.
The Frost & Sullivan Award for Growth Leadership of the Year is presented to the company that has demonstrated excellence in capturing the highest annual compound growth rate for the last three years. AMICAS will formally receive the award at the Frost & Sullivan 2009 Healthcare Innovations Awards Banquet on November 19 in San Antonio, TX.
CONTACT:
Aine Cryts, Marketing Communications Manager
617.779.7802
aine.cryts@amicas.com
Photo: http://www.newscom.com/cgi-bin/prnh/20060202/AMICASLOGO AP Archive: http://photoarchive.ap.org/ PRN Photo Desk photodesk@prnewswire.com
AMICAS, Inc.
CONTACT: Aine Cryts of AMICAS, Inc., Marketing Communications Manager, +1-617-779-7802, aine.cryts@amicas.com
Web Site: http://www.amicas.com/
LPS Named a Top Financial Technology Provider in FinTech 100Mortgage and Real Estate Technology Leader Earns Top-10 Ranking in First Year as an Independent Company
JACKSONVILLE, Fla., Nov. 3 /PRNewswire-FirstCall/ -- Lender Processing Services, Inc. , a leading provider of integrated technology and services to the mortgage and real estate industries, has been ranked among the top 10 technology providers to the financial services industry on the annual FinTech 100 ranking.
The FinTech 100 is an annual international listing of the top 100 hardware, software and service providers to the financial services industry, as ranked by American Banker, Bank Technology News and the research firm IDC Financial Insights. LPS, which celebrated its first year as an independent company this July following a successful spinoff from Fidelity National Information Services (FIS) in 2008, ranked ninth in its debut on the 2009 FinTech 100.
Data for the rankings is gathered from surveys completed by vendors, as well as original research and market analysis conducted by IDC Financial Insights. The list of financial technology companies was produced according to their global revenues - attesting to LPS' stability and importance in the industry.
"We're excited to have earned such a high ranking in the prestigious FinTech 100 during our first year as an independent company," said Jeff Carbiener, president and chief executive officer for LPS. "Being recognized as one of an elite group of industry leaders affirms the confidence and trust that our valued clients have in LPS' continued commitment to delivering superior products, services and data to support their businesses."
For more information about the rankings, visit the FinTech 100 Web site at http://www.financial-insights.com/fintech. To view the FinTech Special report, visit http://www.americanbanker.com/fintech100.
About Lender Processing Services
Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop) portfolio retention and default, augmented by the company's award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by volume are serviced using LPS' Mortgage Servicing Package (MSP). In fact, many of the nation's top servicers rely on MSP, including eight of the top 10 and 14 of the top 20. LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, please visit http://www.lpsvcs.com/.
Lender Processing Services, Inc.
CONTACT: Media: Michelle Kersch, +1-904-854-5043, Michelle.Kersch@lpsvcs.com, or Investors: Parag Bhansali, +1-904-854-8640, Parag.Bhansali@lpsvcs.com, both of Lender Processing Services, Inc.
Web Site: http://www.lpsvcs.com/
Universal Safety Response Wins Homeland Security Award for Best Crash BarriersUSR's GRAB(R) Wins First Ever Government Security News Award
FRANKLIN, Tenn., Nov. 3 /PRNewswire-FirstCall/ -- Universal Safety Response (USR), a Smith & Wesson Company, and a leader in perimeter security systems, announced today that it has won the first Government Security News (GSN) Homeland Security Award for Best Crash Barriers (Gates, Fences, Bollards, Guard Booths, Blast Resistant Products). The award was based upon USR's GRAB® (Ground Retractable Automobile Barrier) system and was presented in New York City, the location of the first installation of the GRAB® barrier system.
(Photo: http://www.newscom.com/cgi-bin/prnh/20091103/LA04528)
Judging in the category was based on a combination of factors including: A demonstrable increase in customer organization security; technological innovation and/or improvement; the ability to fill a recognized government physical security need; cost reduction; and efficiency improvement.
USR President, Matthew A. Gelfand, said, "It is a special honor to accept this award, which acknowledges our GRAB barrier among the highly regarded community of government security professionals. We are especially proud that the innovation of our GRAB barrier has made it so frequently selected for applications at a number of government facilities. On behalf of the entire USR organization, we look forward to providing the advantages of our GRAB barrier to a growing number of government and corporate customers."
The GRAB® is an innovative, reduced-risk barrier system designed to keep facility perimeters safe, while helping to protect resources and lives. The GRAB® has been installed at over 350 governmental and commercial business sites through the United States and Canada, and is the only energy absorbing, FHWA, ASTM M50 and DOS K12 certified, non-hydraulic barrier available today. The GRAB® system's performance has been recognized by numerous Force Protection Officers, Anti-Terrorism Officers, and Installation Commanders, as a superior solution for their Access Control Point active vehicle barrier requirements. USR's performance during installation has earned the company two recent Certificates of Appreciation. In addition to the GSN Award, USR has also earned multiple awards for innovative products and superior customer service in 2009, including the ASIS Accolades Award; the American Business Awards' Stevie Award for Innovation; and the Inc. 500 Award.
About USR
Based in Franklin, Tenn., USR is a full-service perimeter security integrator, barrier manufacturer and installer. As a Smith & Wesson Company, USR provides a complete range of products and services tailored to each client's unique specifications. USR is proud to incorporate its core values of customer service, integrity, innovation and quality into every project. Founded in 1994, USR is the original creator of GRAB®, the world's fastest growing barrier technology. USR serves a variety of clients in the defense, transportation and petrol-chemical industries, as well as corporate facilities, airports, Fortune 500 companies, national laboratories and museums. To learn more about USR's services and products, call (615) 224-0400 or visit http://www.usrgrab.com/. For more information on Smith & Wesson, call (800) 331-0852 or log on to http://www.smith-wesson.com/.
Contact:
Ken Grant, VP
kgrant@usrgrab.com
(615) 224-0400
Liz Sharp, VP
lsharp@smith-wesson.com
480 949 9700
Photo: http://www.newscom.com/cgi-bin/prnh/20091103/LA04528 http://photoarchive.ap.org/ AP PhotoExpress Network: PRN12 PRN Photo Desk, photodesk@prnewswire.com
Smith & Wesson
CONTACT: Ken Grant, VP of Universal Safety Response, +1-615-224-0400, kgrant@usrgrab.com, or Liz Sharp, VP of Smith & Wesson, +1-480-949-9700, lsharp@smith-wesson.com
Web Site: http://www.smith-wesson.com/ http://www.usrgrab.com/
Netflix Announces Pricing of $200.0 Million of Its 8.50% Senior Notes Due 2017
LOS GATOS, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Netflix, Inc. today announced that it has priced its offering of $200.0 million aggregate principal amount of its 8.50% Senior Notes due 2017 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The offering is expected to close on November 6, 2009, subject to satisfaction of customary closing conditions.
The notes will be senior unsecured obligations of Netflix. Interest will be payable semi-annually at a rate of 8.50% per annum on May 15 and November 15 of each year, commencing on May 15, 2010.
Netflix intends to use the net proceeds of the offering to repay all outstanding amounts under, and terminate, its Credit Agreement, dated as of September 16, 2009, and for possible future stock repurchases and general corporate purposes, including capital expenditures, working capital and potential acquisitions and strategic transactions.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the foregoing notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
Contact:
Steve Swasey
408-540-3947
sswasey@netflix.com
Netflix, Inc.
CONTACT: Steve Swasey of Netflix, Inc., +1-408-540-3947,sswasey@netflix.com
Web Site: http://www.netflix.com/
IBM Rolls Out Innovative Healthcare Management System for Spain's Castilla y Leon RegionCastilla y Leon first community in Spain to use technology platform
MADRID, Nov. 3 /PRNewswire-FirstCall/ -- IBM and Telvent Global Services today announced they have entered into a multi-million euro agreement with Castilla y Leon Government to improve management of the province's healthcare centers. The transformation of Castilla y Leon's healthcare centers back office will allow for greater communication among primary care centers, specialized care centers, and emergency and central services allowing the healthcare system to run more efficiently, providing improved care for the local community.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )
IBM and Telvent Global Services will provide consultancy and information technology (IT) services to help Castilla y Leon transform and improve health center procurement, logistics and supply processes. Central purchasing activity and a unique products catalogue will be enhanced. As the transformation engine, a new technology system will be rolled out to all health centers. The new system will enhance aggregated procurement from the different centers, expanding integration with suppliers.
The system will be integrated with the IT systems of the Regional Health Management organization and the corporate systems of the Castilla y Leon government. The regional government of Castilla y Leon will be the first autonomous community in Spain to use this technology platform -- the latest of its kind geared specifically for the public sector.
The aim of the project is to lower costs for Castilla y Leon by streamlining operating procedures. Communication and information exchange between various centers will be more efficient, and the healthcare system will have greater control over supplies and resources, providing more accurate information to assist decision making. This means that employees will be able to devote more time and attention to tasks of greater added value.
The project demonstrates IBM's position as a benchmark technology firm for the healthcare sector. IBM is currently helping to overhaul other healthcare systems in Catalonia, Murcia, Aragon, Extremadura and Castilla y Leon.
IBM is creating a smarter, more connected healthcare system that delivers better care with fewer mistakes, predicts and prevents diseases, and empowers people to make better choices. This includes integrating data so doctors, patients and insurers can share information seamlessly and efficiently. IBM also helps clients apply advanced analytics to improve medical research, diagnosis and treatment in order to improve patient care and help reduce healthcare costs.
The contract with Castilla y Leon Government was signed in October 2009.
About IBM
For more information about IBM, visit http://www.ibm.com/.
Patricia Nunez Tara Sucato
IBM Media Relations (Spain) IBM Media Relations (U.S.)
34 91 3977782 917-472-3701
patricia.nunez@es.ibm.com tjsucato@us.ibm.com
Photo: http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO
IBM
CONTACT: Patricia Nunez, IBM Media Relations (Spain), +34-91-3977782, patricia.nunez@es.ibm.com; or Tara Sucato, IBM Media Relations (U.S.), +1-917-472-3701, tjsucato@us.ibm.com
Web Site: http://www.ibm.com/
LoJack Corp. Announces Third Quarter 2009 Results Webcast and Conference Call
WESTWOOD, Mass., Oct. 29 /PRNewswire-FirstCall/ -- LoJack Corporation (Nasdaq GS: LOJN) announces the following webcast and conference call for its third quarter 2009 results on Wednesday, November 4:
(Logo: http://www.newscom.com/cgi-bin/prnh/20080512/NEM054LOGO )
What: LoJack Corp. to report third quarter 2009 results
When: Wednesday, November 4 -- 09:00AM EST
How: To listen to the live webcast, visit http://www.videonewswire.com/event.asp?id=63636.
You may also participate in the live conference call by dialing +1-800-895-0198 and using LOJACK as the conference ID.
If you are unable to participate during the live webcast, the call will be archived at http://www.lojack.com/about/pages/about-ir.aspx.
Contact: Paul McMahon of LoJack, +1-781-251-4130, pmcmahon@lojack.com
About LoJack Corporation
LoJack Corporation, the company that invented the stolen vehicle recovery market more than two decades ago, is the global leader in finding and recovering a wide range of mobile assets including cars, construction equipment and motorcycles -- having recovered more than $5 billion USD in stolen assets worldwide. In today's rapidly changing world, LoJack's core competencies are more valuable and more relevant than ever as they are now being applied into new areas, such as the prevention, detection and recovery of stolen cargo and finding and rescuing people with cognitive disorders such as Alzheimer's and autism. LoJack has the proven processes, ultimate technology for recovery -- Radio Frequency -- and unique integration with law enforcement agencies, making its offerings the most effective solutions that not only deliver a wide range of recoveries, but also enhance the safety of the public on a global level. LoJack's Stolen Vehicle Recovery System operates in 27 states and the District of Columbia, and in more than 30 countries throughout North America, South America, Europe, Africa and Asia. For more information, visit http://www.lojack.com/.
Photo: http://www.newscom.com/cgi-bin/prnh/20080512/NEM054LOGO http://www.newscom.com/cgi-bin/prnh/20080512/NEM054LOGO http://photoarchive.ap.org/ http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com PRN Photo Desk, photodesk@prnewswire.com
Video: http://www.videonewswire.com/event.asp?id=63636
LoJack Corporation
CONTACT: Paul McMahon of LoJack, +1-781-251-4130, pmcmahon@lojack.com
Web Site: http://www.lojack.com/ http://www.lojack.com/
CALC Receives Staff Determination Regarding Nasdaq Delisting- Company evaluating whether or not to appeal delisting
IRVINE, Calif., Nov. 3 /PRNewswire-FirstCall/ -- California Coastal Communities, Inc. announced today that on October 28, 2009, it received a delisting determination letter from the Nasdaq Stock Market Listing Qualifications Staff indicating the Staff's decision to delist the Company's common stock from the Nasdaq Stock Market pursuant to Nasdaq Marketplace Rules 5100, 5110(b) and IM-5101-1. The determination was made following the Company's recent filing of a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code pursuant to which the Company is seeking to extend the maturity dates and change the repayment schedules for its approximately $182 million of Brightwater credit facilities in order to repay the debt in full in 2013 based on currently expected home sales over the next four years.
The delisting determination letter further advised the Company that trading of its common stock will be suspended at the opening of business on November 6, 2009 unless it requests a hearing before a Nasdaq Listing Qualifications Hearing Panel to appeal the proposed delisting. The Company is evaluating whether to request a hearing with the Panel to appeal the proposed delisting, or to not appeal the Staff's decision and allow its common stock to be delisted. If the common stock is delisted, the Company expects that it will not be immediately eligible to trade over the OTC Bulletin Board or in the "Pink Sheets," however, the common stock may become eligible for such trading if a market maker makes application to quote the common stock in accordance with Securities and Exchange Commission Rule 15c2-11, and such application is cleared.
The Company is a residential land development and homebuilding company operating in Southern California. The Company's principal subsidiaries are Hearthside Homes which is a homebuilding company, and Signal Landmark which owns 105 acres on the Bolsa Chica mesa where sales commenced in August 2007 at the 356-home Brightwater community. Hearthside Homes has delivered 2,200 homes to families throughout Southern California since its formation in 1994.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain of the foregoing information contains forward-looking statements that relate to future events or the Company's future financial performance. These statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of such terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements about the Company's plans, objectives, goals, expectations and intentions, the number and types of homes and number of acres of land that the Company may develop and sell, the timing and outcomes of any such development, the timing and outcomes of court proceedings, lender negotiations, regulatory approval processes or administrative proceedings, cash flows or sales, and other statements contained herein that are not historical facts.
California Coastal Communities, Inc.
CONTACT: Raymond J. Pacini, Chief Executive Officer of California Coastal Communities, Inc., +1-949-250-7781
Webcast Alert: CVPS Q3 2009 Earnings Call
RUTLAND, Vt., Nov. 3 /PRNewswire-FirstCall/ -- Central Vermont Public Service announces the following Webcast:
What: CVPS Q3 2009 Earnings Call
When: November 6, 2009 @ 2:00 PM Eastern
Where: http://www.investorcalendar.com/ClientPage.asp?ID=148668
How: Live over the Internet -- Simply log on to the web at the address above.
Contact: Gerri Harrison, 802-747-5243, gharris@cvps.com, Media Contact: Steve Costello, 802-747-5427, scostel@cvps.com
If you are unable to participate during the live webcast, the call will be available for replay at http://www.investorcalendar.com/ClientPage.asp?ID=148668 or http://www.investorcalendar.com .
CVPS is Vermont's largest electric utility, serving more than 159,000 customers statewide. CVPS's non-regulated subsidiary, Catamount Resources Corporation, sells and rents electric water heaters through a subsidiary, SmartEnergy Water Heating Services. For more information on CVPS, go to: http://www.cvps.com/.
Central Vermont Public Service
CONTACT: Gerri Harrison, +1-802-747-5243, gharris@cvps.com; or Media Contact: Steve Costello, +1-802-747-5427, scostel@cvps.com
Web Site: http://www.cvps.com/
Simpson Manufacturing Co., Inc. to Present at Two Conferences in November
PLEASANTON, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Simpson Manufacturing Co., Inc. (the "Company") announced today that its Chairman, Barclay Simpson, will make presentations at two conferences in November. Following is the schedule for the conferences:
9:45am PST (12:45pm EST), Wednesday, November 11, 2009
D.A. Davidson & Co.- "The Housing Recovery - What will it take?"
Conference
Ritz-Carlton Hotel, San Francisco, CA
Webcast at: http://www.wsw.com/webcast/dadco18/ssd
8:30am EST, Tuesday, November 17, 2009
Stephens Inc. Fall Investment Conference
New York Palace Hotel, New York, NY
Webcast at: http://www.wsw.com/webcast/stph13/ssd
Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood-to-wood, wood-to-concrete and wood-to-masonry connectors and fastening systems, stainless steel fasteners and pre-fabricated shearwalls. Simpson Strong-Tie also offers a full line of adhesives, mechanical anchors and powder actuated tools for concrete, masonry and steel. The Company's other subsidiary, Simpson Dura-Vent Company, Inc., designs, engineers and manufactures venting systems for gas and wood burning appliances. The Company's common stock trades on the New York Stock Exchange under the symbol "SSD."
For further information, contact Barclay Simpson at (925) 560-9032.
Simpson Manufacturing Co., Inc.
CONTACT: Barclay Simpson of Simpson Manufacturing Co., Inc., +1-925-560-9032
Web Site: http://www.simpsonmfg.com/
Touchscreen Mobile Phone Adoption Grows at Blistering Pace in U.S. During Past YearTouchscreen Device Market Up 159 Percent vs. Year Ago with iPhone Accounting for 33 Percent of the Market
RESTON, Va., Nov. 3 /PRNewswire-FirstCall/ -- comScore, Inc. , a leader in measuring the digital world, today released a study of touchscreen mobile phone adoption in the U.S., which showed a significant 159-percent growth rate during the past year to 23.8 million users in August 2009. The growth in touchscreen device adoption substantially outpaced the already strong 63-percent growth in U.S. adoption of smartphones.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)
Touchscreen Smartphone Adoption
3 Months Ending August 2009 vs. August 2008
Total U.S. Mobile Subscribers, Age 13+
Source: comScore MobiLens
-------------------------
Subscribers (000)
----------------
Percent
Device Type Aug-08 Aug-09 Change
------------- ------- ------ ------
Touchscreen 9,219 23,843 159%
----------- ----- ------ ---
Smartphone 20,735 33,779 63%
---------- ------ ------ --
"Touchscreen phones have quickly gained adoption as new devices have flooded the mobile marketplace," said Mark Donovan, comScore senior vice president of Mobile. "It's clear that consumers are embracing touchscreen interfaces that allow them to easily navigate the increasingly powerful and complex services afforded by new phones. This is a trend that should continue to pick up as additional touchscreen devices, many of them running the Android operating system, arrive in the market before the holiday shopping season."
Top 10 Touchscreen Device Families
The Apple iPhone ranked as the top touchscreen device family with 32.9 percent of touchscreen device users age 13 and older, nearly four times larger than the market share of the next largest device family, the LG Dare (8.7 percent). LG Voyager ranked third with 7.8 percent of the market, followed by the Blackberry Storm (7.0 percent) and Palm Treo (6.5 percent).
Top Touchscreen Device Families by Share of Device Users
Three Months Ending August 2009
Total U.S. Mobile Subscribers, Age 13+
Source: comScore MobiLens
-------------------------
Share (%) of
Touchscreen Device
Device Family Users
------------- --------------------
Total Touchscreen 100.0%
----------------- -----
Apple iPhone 32.9%
------------ ----
LG Dare 8.7%
------- ---
LG Voyager 7.8%
---------- ---
Blackberry Storm 7.0%
---------------- ---
Palm Treo 6.5%
--------- ---
Samsung Instinct 5.0%
---------------- ---
T-Mobile G1 3.6%
----------- ---
HTC Touch 3.3%
--------- ---
Samsung Glyde 2.7%
------------- ---
LG Xenon 2.6%
-------- ---
"The iPhone clearly set the trend in the industry for touchscreen devices, so it's no surprise that it has the largest share of the market," added Donovan. "But as other players have entered the touchscreen market with compelling devices, competition is clearly heating up."
Touchscreen Users Younger than Average Mobile Phone User
Smartphones in general and touchscreen devices specifically tend to be more popular among younger users. While 38.8 percent of all mobile subscribers (age 13+) are under the age of 35, 51.4 percent of smartphone users are in this age cohort, as are 57.7 percent of touchscreen device users. In fact, a significant 20.6 percent of touchscreen users are in the narrow age range of 18-24. Meanwhile, less than 5 percent of smartphone and touchscreen device users are age 65 and older, compared to 13 percent of the total U.S. mobile audience.
Demographic Profile of Smartphone and Touchscreen Users
Three Months Ending August 2009
Total U.S. Mobile Subscribers, Age 13+
Source: comScore MobiLens
-------------------------
Share (%) of Mobile Subscribers
-------------------------------
Total Smartphone Touchscreen
----- ---------- -----------
Total Subscribers 100.0% 100.0% 100.0%
------------ ----- ----- -----
Age 13-17 7.8% 6.3% 8.5%
--------- --- --- ---
Age 18-24 13.1% 16.4% 20.6%
--------- ---- ---- ----
Age 25-34 17.9% 28.7% 28.6%
--------- ---- ---- ----
Age 35-44 17.6% 22.9% 18.8%
--------- ---- ---- ----
Age 45-54 18.2% 13.6% 12.3%
--------- ---- ---- ----
Age 55-64 12.4% 7.5% 7.3%
--------- ---- --- ---
Age 65+ 13.1% 4.5% 3.9%
------ ---- --- ---
About comScore
comScore, Inc. is a global leader in measuring the digital world and preferred source of digital marketing intelligence. For more information, please visit http://www.comscore.com/companyinfo.
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comScore, Inc.
CONTACT: Andrew Lipsman of comScore, Inc., +1-312-775-6510, press@comscore.com
Web Site: http://www.comscore.com/
United Security Bancshares 3rd Quarter Earnings and Trends Improve
FRESNO, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Dennis R. Woods, President and Chief Executive Officer of United Security Bancshares http://www.unitedsecuritybank.com/ reported today the results of operations for the 3rd quarter and nine months ended September 30, 2009.
The net income was $693,000 for the 3rd quarter of 2009, as compared with a net loss of ($1,342,000) for the 3rd quarter in 2008. Basic and diluted earnings per share for the 3rd quarter 2009 were $.06 compared with basic and diluted of ($0.11) for the 3rd quarter 2008. For the nine months ended September 30, 2009, the net loss was ($4,112,000) compared with net income of $3,228,000 in 2008.
For the 3rd quarter 2009, return on average equity was 3.64% and the return on average assets 0.38% compared with a return on average equity was (6.48%) and the return on average assets was (0.68%) for the 3rd quarter 2008. For the nine months ended September 30, 2009, return on average equity was (6.95%) and the return on average assets was (.74%). For the same period in 2008, return on average equity was 5.18% and return on average assets was .56%. Shareholders' equity at quarter end was $76.7 million.
The Board of Directors of United Security Bancshares declared a 4th quarter 2009 stock dividend of one percent (1%). The stock dividend replaces the quarterly cash dividend. The stock dividend is payable to shareholders of record on October 9, 2009 and shares were issued on October 21, 2009.
Woods added, "We are seeing the fruits of significant efforts over the past 12 months, after taking control of and completing various requirements to prepare properties for sale. During the third quarter 15 properties related to nonperforming assets sold for total proceeds of $9.5 million after additional write-downs and (gains)/losses of $459,000 during the 3rd quarter. Since the end of the 3rd quarter through the date of this announcement, 21 properties associated with nonperforming assets closed escrow for total proceeds of $11.5 million after loss of $1,476 on sale of OREO property. Escrows are open on other 14 properties associated with nonperforming assets scheduled to close by November 20, 2009 for additional total proceeds of $10.1 million after estimated write-downs and (gains)/losses of $358,000 on such properties to be taken in the 4th quarter. (Write-downs and (gains)/losses do not include certain carrying costs such as property taxes, repairs, maintenance, costs to prepare properties for sale and similar expenses)."
"Our focused and disciplined approach provides our customers with as much assistance as possible during difficult times while we attempt to avoid contributing to further job loss and property value declines, often associated with ill timed liquidations. We understand, if your neighbors' property is liquidated in a forced sale, your property drops in value and we work to minimize that whenever possible."
"Our employees have a strong commitment to an approach that benefits customers and shareholders alike and parallels our commitment to provide excellent bank services in the communities we serve. Our business plan reduces nonperforming assets, adds to our strong capital base while providing customers with more options. Fortunately, strong core earnings allow us greater flexibility for accomplishing these goals."
Net interest income for the 3rd quarter 2009 was $7.16 million, down $267,000 from the 3rd quarter of 2008 for a decrease of 3.6%. The net interest margin increased from 4.17% in the 3rd quarter 2008 to 4.61% in 2009. For the nine months ended September 30, 2009 net interest income was $21,102,000, down $2,038,000 from $23,140,000 for the same period in 2008 for an 8.81% decline. The net interest margin was 4.44% for the nine month period ended September 30, 2008 and 4.46% for the same period in 2009.
Noninterest income for the 3rd quarter of 2009 was $1,019,000, down $572,000 from $1,591,000 in 2008 for a decrease of 35.9%. For the nine months ended September 30, 2009, noninterest income was $3,438,000, down $2,208,000 from $5,645,000 for the same period in 2008. The largest single noninterest income component within the nine month periods was gain/loss on sale of OREO properties that reduced noninterest income in 2009 by $822,000.
Other operating expenses for the three months ended September 30, 2009 were $6,850,000 and $5,224,000 for 2008, an increase of $1,626,000 or 31.1%. For the nine months ended September 30, 2009, other operating expenses totaled $21,613,000, up $4,532,000 from $17,081,000 for the same period in 2008. Five expense components accounted for the much of differences for the nine month period. 1) FDIC assessments increased by $487,000, 2) write-downs on foreclosed properties were up $835,000, 3) foreclosed property expenses were up $939,000, 4) sundry losses associated with a lawsuit were up $788,000 and 5) a goodwill impairment expense was up $3,026,000 in 2009 over 2008.
The provision for loan loss was $436,000 for the 3rd quarter of 2009 and $6,444,000 for 3rd quarter of 2008. For the nine months ended September 30, 2009, the provision was $8,593,000 compared with $7,160,000 for the same period in 2008. In determining the adequacy of the allowance for loan losses, Management's judgment is the primary determining factor for establishing the amount of the provision for loan losses and management considers the allowance for loan and lease losses at September 30, 2009 to be adequate. Non-performing assets decreased to 12.43% of total assets on September 30, 2009 from 12.62% on June 30, 2009. At year-end 2008 non-performing assets were 10.78% of total assets and on June 30, 2008 6.83%.
United Security Bancshares is a $720+ million bank holding company. United Security Bank, its principal subsidiary is a state chartered bank and member of the Federal Reserve Bank of San Francisco.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and the Company intends such statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the Company's possible or assumed future financial condition, and its results of operations, business and earnings outlook. These forward-looking statements are subject to risks and uncertainties. A number of factors, some of which are beyond the Company's ability to control or predict, could cause future results to differ materially from those contemplated by such forward-looking statements. These factors include (1) changes in interest rates, (2) significant changes in banking laws or regulations, (3) increased competition in the company's market, (4) other-than-expected credit losses, (5) earthquake or other natural disasters impacting the condition of real estate collateral, (6) the effect of acquisitions and integration of acquired businesses, (7) the impact of proposed and/or recently adopted changes in regulatory, judicial, or legislative tax treatment of business transactions, particularly recently enacted California tax legislation and the subsequent Dec. 31, 2003, announcement by the Franchise Tax Board regarding the taxation of REITs and RICs; and (8) unknown economic impacts caused by the State of California's budget issues. Management cannot predict at this time the severity or duration of the effects of the recent business slowdown on our specific business activities and profitability. Weaker or a further decline in capital and consumer spending, and related recessionary trends could adversely affect our performance in a number of ways including decreased demand for our products and services and increased credit losses. Likewise, changes in interest rates, among other things, could slow the rate of growth or put pressure on current deposit levels and affect the ability of borrowers to repay loans. Forward-looking statements speak only as of the date they are made, and the company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the statements are made, or to update earnings guidance including the factors that influence earnings. For a more complete discussion of these risks and uncertainties, see the Company's Annual Report on Form 10-K for the year ended December 31, 2008, and particularly the section of Management's Discussion and Analysis.
United Security Bancshares
Consolidated Balance Sheets
(unaudited)
(Dollars in thousands)
September September
30 30
2009 2008
---- ----
Cash & nonint.-bearing deposits
in banks $22,274 $17,872
Interest-bearing deposits in
banks 2,526 15,101
Federal funds sold 0 0
Investment securities AFS 80,754 96,324
Loans, net of unearned fees 533,252 600,787
Less: allowance for loan losses (14,413) (12,580)
------- -------
Loans, net 518,840 588,207
Premises and equipment, net 13,362 14,599
Intangible assets 9,664 13,677
Other assets 74,406 42,222
------ ------
TOTAL ASSETS $721,825 $788,002
Deposits:
Noninterest-bearing demand &
NOW 176,657 197,004
Savings & Money Market 167,493 178,129
Time 227,920 227,151
------- -------
Total deposits 572,070 602,284
Borrowed funds 54,360 86,809
Other liabilities 7,186 6,275
Junior subordinated debentures 11,510 12,783
------ ------
TOTAL LIABILITIES $645,127 $708,151
Shareholders' equity:
Common shares outstanding:
12,372,797 at Sep. 30, 2009
11,914,838 at Sep. 30, 2008 $36,987 $33,587
Retained earnings 41,498 48,307
Fair Value Adjustment - Hedge 0 0
Accumulated other comprehensive
income (1,787) (2,043)
------ ------
Total shareholders' equity $76,698 $79,851
------- -------
TOTAL LIABILITIES &
SHAREHOLDERS' EQUITY 721,825 788,002
United Security Bancshares
Consolidated Statements of Three Three Nine Nine
Income Months Months Months Months
(dollars in 000's, except Ended Ended Ended Ended
per share amounts) 30-Sep 30-Sep 30-Sep 30-Sep
(unaudited) ------ ------ ------ ------
2009 2008 2009 2008
---- ---- ---- ----
Interest income $8,870 $10,936 $26,824 $35,111
Interest expense 1,711 3,509 5,722 11,971
----- ----- ----- ------
Net interest income 7,159 7,427 21,102 23,140
Provision for loan losses 436 6,444 8,593 7,160
Other income 1,019 1,591 3,438 5,645
Other expenses 6,850 5,224 21,613 17,081
----- ----- ------ ------
Income before income tax
provision 894 (2,650) (5,667) 4,544
Provision for income taxes 200 (1,308) (1,555) 1,316
--- ------ ------ -----
NET INCOME $693 ($1,342) ($4,112) $3,228
United Security Bancshares
Selected Financial Data Three Three Nine Nine
(dollars in 000's except per Months Months Months Months
share amounts) Ended Ended Ended Ended
30-Sep-09 30-Sep-08 30-Sep-09 30-Sep-08
--------- --------- --------- ---------
Basic Earnings Per Share $0.06 ($0.11) ($0.33) $0.26
Diluted Earning Per Share $0.06 ($0.11) ($0.33) $0.26
Annualized Return on:
Average Assets 0.38% (0.68%) (0.74%) 0.56%
Average Equity 3.63% (6.48%) (6.95%) 5.18%
Net Interest Margin 4.61% 4.17% 4.46% 4.44%
Net Charge-offs to Average
Loans 1.70% 1.01% 1.52% 0.46%
30-Sep-09 30-Sep-08
--------- ---------
Book Value Per Share $6.20 $6.70
Tangible Book Value Per
Share $5.42 $5.55
Efficiency Ratio 88.08% 59.15%
Non Performing Assets to
Total Assets 12.43% 8.09%
Allowance for Loan Losses to
Total Loans 2.70% 2.09%
Shares Outstanding - period
end 12,372,797 11,914,838
Basic Shares - YTD average
weighted 12,372,869 12,423,211
Diluted Shares - YTD average
weighted 12,372,869 12,428,878
Basic Shares - QTD average
weighted 12,372,797 12,399,402
Diluted Shares - QTD average
weighted 12,372,797 12,406,222
United Security Bancshares
CONTACT: Dennis R. Woods, President and Chief Executive Officer of United Security Bank, +1-559-248-4928
Web Site: http://www.unitedsecuritybank.com/
Gila River Gaming Enterprises Chooses GPI for Newest CasinoGPI supplies tables, casino currency for Wild Horse Pass Hotel & Casino opening
LAS VEGAS, Nov. 3 /PRNewswire-FirstCall/ -- Gaming Partners International Corporation , a leading provider of casino currency and table game equipment worldwide, announced that it has provided table games and casino chips to Wild Horse Pass Hotel & Casino, located in Phoenix, Arizona, for its grand opening on October 30, 2009 . The Wild Horse Pass Hotel & Casino is owned and operated by Gila River Indian Community.
GPI has supplied Wild Horse Pass Hotel & Casino with all of its 71 table games. The hand-crafted gaming tables are custom-built for the property and feature unique lighting elements and a mosaic tile design. The casino chips are from the company's popular Paulson line of chips and include proprietary design and security features unique to the casino.
"Having worked closely with Gila River Gaming Enterprises on its original Wild Horse Pass Casino as well as its other casino properties, we were thrilled to be chosen to supply the gaming tables and equipment for their newest facility," said Greg Gronau, President and CEO of GPI. "The Wild Horse Pass Hotel & Casino is an exciting new project in the Phoenix area and we were proud being a part of their successful opening."
About Gaming Partners International Corporation
GPI manufactures and supplies casino table games and equipment to licensed casinos worldwide. Under the brand names of Paulson®, Bourgogne et Grasset® and Bud Jones®, GPI provides casino currency such as chips, plaques and jetons; gaming furniture and accessories; table layouts; playing cards; dice; and roulette wheels. GPI pioneered the use of security features such as RFID technology in casino chips, and provides RFID solutions including chips, readers and displays. Headquartered in Las Vegas, Nevada, GPI also has offices Beaune, France; San Luis Rio Colorado, Mexico; Atlantic City, New Jersey, and Gulfport Mississippi. For additional information, please visit http://www.gpigaming.com/.
Gaming Partners International Corporation
CONTACT: Lauren Coombs, Director of Marketing, GPI, +1-702-598-2400, lcoombs@gpigaming.com
Web Site: http://www.gpigaming.com/
Thor Announces Strong Quarterly Sales, Record Backlog, Cash of $326 Million.
JACKSON CENTER, Ohio, Nov. 3 /PRNewswire-FirstCall/ -- Thor Industries, Inc. announced today its preliminary sales for the three months ended October 31, 2009 were $501 million, up 14% from $439 million last year.
RV sales in the quarter were $389 million, up 18% from $330 million last year. Towable sales were $342 million, up 20% from $285 million last year. Motor home sales were $47 million, up 4% from $45 million the prior year. Bus sales were $112 million, up 3% from $109 million last year.
Cash, cash equivalents, and investments were $326 million on October 31, 2009.
Total backlog was $599 million, the highest ever for this time of the year and up 57% from $381 million last year. Towable backlog was $267 million, up 190% from $92 million last year. Motor home backlog was $48 million, up 50% from $32 million last year. Bus backlog was $284 million, up 11% from $257 million last year.
"Typically, RV backlogs decline from July to October due to seasonality of the business. This year, however, our RV backlog shows a sequential increase, indicating continuing strength in both towables and motor homes," said Wade F. B. Thompson, Thor chairman.
Thor is the world's largest manufacturer of recreation vehicles and a major builder of commercial buses.
This release includes certain statements that are "forward looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements involve uncertainties and risks. There can be no assurance that actual results will not differ from our expectations. Factors which could cause materially different results include, among others, additional issues that may arise in connection with the findings of the completed investigation by the Audit Committee of the Board of Directors of Thor Industries, Inc. (the "Company") and the SEC's requests for additional information, fuel prices, fuel availability, lower consumer confidence, interest rate increases, tight lending practices, increased material costs, the success of new product introductions, the pace of acquisitions, cost structure improvements, the impact of auction market failures on our liquidity, competition and general economic conditions and the other risks and uncertainties discussed more fully in Item 1A of the Company's Annual Report on Form 10-K for the year ended July 31, 2009. The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any change in the Company's expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based except as required by law.
Thor Industries, Inc.
CONTACT: Wade F. B. Thompson or Peter B. Orthwein, both of Thor Industries, Inc., +1-937-596-6849
Web Site: http://www.thorindustries.com/
Psychemedics Corporation Announces Third Quarter Results$0.12 DIVIDEND DECLARED
ACTON, Mass., Nov. 3 /PRNewswire-FirstCall/ -- Psychemedics Corporation today announced third quarter financial results for the period ended September 30, 2009. The Company also announced a quarterly dividend of $0.12 per share payable to shareholders of record as of December 3, 2009 to be paid on December 17, 2009. This will be the Company's 53rd consecutive quarterly dividend.
The Company's third quarter revenue was $4.7 million, down 25% as compared to $6.2 million in the third quarter of 2008. Net income was $0.8 million or $0.15 per diluted share, down 12% from $0.9 million or $0.17 per share for the same period in 2008. The Company's revenue for the nine months ended September 30, 2009 was $12.7 million, down 30% as compared to $18.1 million for the comparable period of 2008. Net income for the nine months ended September 30, 2009 was $1.0 million or $0.19 per diluted share, a decrease of 65% from the comparable period last year during which the Company earned $2.8 million or $0.53 per diluted share.
Raymond C. Kubacki, Chairman and Chief Executive Officer, said, "Stating the obvious: these are difficult times. However, despite a 25% decline in revenue during the third quarter of 2009, we were nearly able to match last year's third quarter earnings per share of $0.17. Our EPS was $0.15 in the current quarter. We were able to achieve this level of profitability because we took significant cost reduction/control actions early, and did them logically and methodically. These included reductions in force, changes in certain benefits such as elimination of bonuses, stock grants, and 401k match. We also increased required employee healthcare contributions and implemented salary cuts for all personnel. These actions substantially aided our ability to achieve a significant improvement in both gross and operating margins when compared to the second quarter of 2009."
Kubacki concluded, "We are pleased that Psychemedics continues to demonstrate its ability to successfully weather the downturn. Further, some good news is that the year/year rate of decline in the third quarter revenue was less than in the past 2 quarters. We feel confident about our future prospects. It is important to also note that the Company continues to have a strong balance sheet with no long-term debt and approximately $4.6 million of cash and investments. Our cash flow from operations was $0.5 million for the first three quarters of 2009. For all these reasons, our board is declaring our 53rd consecutive quarterly dividend which demonstrates our continued commitment to maximizing shareholder returns as we move forward."
Psychemedics is the world's largest provider of hair testing for drugs of abuse with thousands of corporations relying on the patented Psychemedics drug testing services. Psychemedics' clients include over 10% of the Fortune 500, some of the largest police departments in America and six Federal Reserve Banks.
Financial Summary:
-- Revenue for the third quarter of $4.7 million, down 25% from the prior
year quarter
-- Revenue for the nine month period of $12.7 million, down 30% from the
prior year
-- Pretax income for the third quarter of $1.3 million, down 10% from the
prior year
-- Pretax income for the nine month period of $1.7 million, down 64% from
the prior year
-- Net income for the third quarter of $0.8 million, or $0.15 per diluted
share, down 12% from the prior year quarter
-- Net income for the nine month period of $1.0 million, or $0.19 per
diluted share, down 65% from the prior year period
The Psychemedics web site is http://www.drugtestwithhair.com/
Cautionary Statement for purposes of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995: From time to time, information provided by Psychemedics may contain forward-looking information that involves risks and uncertainties. In particular, statements contained in this release that are not historical facts (including but not limited to statements concerning earnings, earnings per share, revenues, dividends, future business, growth opportunities, new accounts, customer base, market share, test volume and sales and marketing strategies) may be "forward looking" statements. Actual results may differ from those stated in any forward-looking statements. Factors that may cause such differences include but are not limited to risks associated with the development of markets for new products and services offered, the economic health of principal customers of the Company, government regulation, including but not limited to FDA regulations, competition and general economic conditions and other factors disclosed in the Company's filings with the Securities and Exchange Commission.
PSYCHEMEDICS CORPORATION
STATEMENTS OF INCOME
UNAUDITED
Three Months Ended Nine Months Ended
September 30, September 30,
2009 2008 2009 2008
---- ---- ---- ----
Revenue $4,669,894 $6,204,647 $12,683,654 $18,124,587
Cost of Revenue 1,779,732 2,552,014 5,595,740 7,374,228
--------- --------- --------- ----------
Gross Profit 2,890,162 3,652,633 7,087,914 10,750,359
--------- --------- --------- ----------
General & Administrative 862,518 1,145,486 2,784,379 3,262,804
Marketing & Selling 643,139 1,013,510 2,325,538 2,714,882
Research & Development 111,402 125,039 353,965 362,532
--------- --------- --------- ---------
Total Operating Expenses 1,617,059 2,284,035 5,463,882 6,340,218
--------- --------- --------- ---------
Operating Income 1,273,103 1,368,598 1,624,032 4,410,141
Interest Income 11,576 64,999 34,166 249,961
--------- --------- --------- ---------
Net Income Before
Provision for Income Taxes 1,284,679 1,433,597 1,658,198 4,660,102
Provision for Income Taxes 516,373 560,042 676,986 1,864,041
--------- --------- -------- ---------
Net Income $768,306 $873,555 $981,212 $2,796,061
========= ========= ========= =========
Basic net income per share $0.15 $0.17 $0.19 $0.54
===== ===== ===== =====
Diluted net income per share $0.15 $0.17 $0.19 $0.53
===== ===== ===== =====
Dividends declared per share $0.12 $0.17 $0.41 $0.49
===== ===== ===== =====
Weighted average common
shares outstanding, basic 5,178,545 5,226,237 5,182,504 5,223,581
========= ========= ========= =========
Weighted average common
shares outstanding, diluted 5,184,061 5,255,301 5,194,118 5,275,311
========= ========= ========= =========
PSYCHEMEDICS CORPORATION
BALANCE SHEETS
UNAUDITED
September 30, December 31,
2009 2008
---- ----
ASSETS
Current Assets:
Cash and cash equivalents $3,616,323 $6,630,119
Short term investments 1,002,781 ---
Accounts receivable, net of allowance for
doubtful accounts of $169,939 in 2009
and $246,462 in 2008 3,810,216 3,398,455
Prepaid expenses 548,642 1,023,841
Other current assets 175,788 82,045
Deferred tax assets 570,089 449,398
--------- ----------
Total Current Assets 9,723,839 11,583,858
---------- ----------
Fixed Assets:
Equipment & leasehold improvements 10,911,902 10,877,479
Less accumulated depreciation (10,308,017) (10,047,755)
---------- ----------
Net Fixed Assets 603,885 829,724
---------- ----------
Deferred tax assets, long term 139,021 139,021
Other assets 85,481 75,183
---------- ----------
Total Assets $10,552,226 $12,627,786
========== ==========
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Current Liabilities:
Accounts payable $302,755 $644,894
Accrued expenses 653,417 1,268,924
Accrued income taxes 213,216 ---
Deferred revenue 44,730 154,080
--------- ---------
Total Current Liabilities 1,214,118 2,067,898
--------- ---------
Commitments and Contingencies
Shareholders' Equity:
Preferred-stock, $0.005 par value, 872,521
shares authorized, no shares issued
or outstanding
--- ---
Common stock, $0.005 par value; 50,000,000
shares authorized 29,308 29,216
5,861,554 shares issued in 2009 and 5,843,068
shares issued in 2008
Paid-in capital 27,385,486 27,118,743
Accumulated deficit (8,023,322) (6,614,114)
Less - Treasury stock, at
cost, 664,523 shares in
2009 and 647,304 shares in
2008 (10,053,364) (9,973,957)
---------- ----------
Total Shareholders' Equity 9,338,108 10,559,888
---------- ----------
Total Liabilities and
Shareholders' Equity $10,552,226 $12,627,786
========== ==========
Contact: Raymond Ruddy
Vice President and Controller
(978) 206-8220
Raymondr@psychemedics.com
Psychemedics Corporation
CONTACT: Raymond Ruddy, Vice President and Controller of Psychemedics Corporation, +1-978-206-8220, Raymondr@psychemedics.com
Web Site: http://www.drugtestwithhair.com/
Tredegar Board Declares Dividend
RICHMOND, Va., Nov. 3 /PRNewswire-FirstCall/ -- The board of directors of Tredegar Corporation declared a quarterly dividend of four cents per share on the company's common stock. The dividend is payable on January 1, 2010, to shareholders of record at the close of business on December 18, 2009.
Based in Richmond, Va., Tredegar Corporation is a global manufacturer of plastic films and aluminum extrusions.
Tredegar Corporation
CONTACT: D. Andrew Edwards of Tredegar Corporation, +1-804-330-1041, Fax, +1-804-330-1177, daedward@tredegar.com
Web Site: http://www.tredegar.com/
AT&T Draws in Moviegoers with Advance Screenings of Summit Entertainment's "The Twilight Saga: New Moon" in Select Markets; Photo and Video Content Available Nationwide via Mobile WAP Site and AT&T Share on FacebookMoviegoers in Atlanta, Chicago and Dallas Offered Chance to Win Tickets to an Advance Screening of "The Twilight Saga: New Moon" Featuring a Special Cast Member Appearance
DALLAS, Nov. 3 /PRNewswire-FirstCall/ -- The second film installment of Summit Entertainment's phenomenally successful TWILIGHT SAGA franchise will bring the romance between mortal and vampire to a whole new level. And while the wait is on for the Nov. 20 release of the highly anticipated sequel, THE TWILIGHT SAGA: NEW MOON, AT&T* today announced it will host advance screenings of the film -- including a special cast member appearance -- in Atlanta, Chicago and Dallas on Nov. 19. In addition, photo and video content, a mobile trivia game from RealArcade® Mobile, ringtones and more are currently available via AT&T Share on Facebook and wireless handsets from AT&T.
From now until Nov. 12, moviegoers will have the opportunity to win** one pair of tickets to an advance screening of THE TWILIGHT SAGA: NEW MOON in Atlanta, Chicago or Dallas on Thursday, Nov. 19 at 9:30 pm, respectively, which will include a special appearance and question-and-answer session by a cast member from the film.
AT&T will encourage interaction amongst fans by asking them to join in on the discussions about the TWILIGHT SAGA and post the "Create Ur Coven" badge on individual and friends' profile pages through wall posts at AT&T Share on Facebook. In addition, AT&T has created a WAP portal for moviegoers to access full music tracks from the film's soundtrack, ringtones, answer tones, film graphics and more from THE TWILIGHT SAGA: NEW MOON. Wireless customers of AT&T can access content by texting*** the word "NEWMOON" to 826709.
"THE TWILIGHT SAGA: NEW MOON is arguably the most anticipated movie of the year, and AT&T is thrilled to be at the forefront of it all by delivering once-in-a-lifetime opportunities and exclusive content offerings via the mobile device and our social media properties," said Chris Schembri, vice president, AT&T Media Services. "It's just one more way we're connecting people to their world, everywhere they live and work."
Moviegoers also can download "Twilight the Movie Game" from RealArcade® Mobile via AT&T MEdia Mall. In this trivia-based mobile game, players can answer challenging photo and text questions based on the first film, test their movie knowledge and prepare themselves for the launch of THE TWILIGHT SAGA: NEW MOON. A multiplayer mode enables two to four players to compete on the same handset and find out who is the most knowledgeable TWILIGHT fan of all. RealArcade Mobile, a division of RealNetworks®, Inc., will be supporting this game with extensive promotions around the film launch for AT&T customers.
THE TWILIGHT SAGA: NEW MOON is directed by Chris Weitz and starring Kristen Stewart, Robert Pattinson and Taylor Lautner. In the film, the romance between mortal and vampire soars to a new level as Bella Swan (Stewart) delves deeper into the mysteries of the supernatural world she yearns to become part of -- only to find herself in greater peril than ever before. Following Edward Cullen's (Pattinson) departure from Forks, Washington, Bella discovers his image comes to her whenever she puts herself in jeopardy. In time Bella's frozen heart is gradually thawed by her budding relationship with Jacob Black (Lautner) who has a supernatural secret of his own.
The action-packed, modern day vampire love story TWILIGHT, the first film in the series, was released in theatres on November 21, 2008 to a blockbuster reception. The third film in the franchise, THE TWILIGHT SAGA: ECLIPSE is due in theaters on June 30, 2010.
For more information about AT&T products and services, visit http://www.att.com/.
*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.
** NO PURCHASE NECESSARY. LEGAL RESIDENTS OF THE 50 UNITED STATES (D.C.) 13 AND OLDER (18 AND OLDER IF A RESIDENT OF MAINE) AT TIME OF ENTRY. VOID WHERE PROHIBITED. Promotion ends 11/12/09. For Official Rules, alternate method of entry, prize description and odds disclosure, visit http://bit.ly/CovenRules. Sponsor: AT&T Mobility, 1055 Lenox Park Blvd. NE, Atlanta, GA 30319. Standard text messaging rates apply. If you enter via text messaging, you will incur charges for at least three (3) text messages. Message & data rates may apply. To stop receiving messages, text STOP or for help text HELP to 83733. Text-messaging entry may only be available through AT&T Mobility.
***Standard text message rates apply.
About AT&T
AT&T Inc. is a premier communications holding company. Its subsidiaries and affiliates - AT&T operating companies - are the providers of AT&T services in the United States and around the world. With a powerful array of network resources that includes the nation's fastest 3G network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet and voice services. AT&T offers the best wireless coverage worldwide, offering the most wireless phones that work in the most countries. It also offers advanced TV services under the AT&T U-verse(SM) and AT&T |DIRECTV(SM) brands. The company's suite of IP-based business communications services is one of the most advanced in the world. In domestic markets, AT&T's Yellow Pages and YELLOWPAGES.COM organizations are known for their leadership in directory publishing and advertising sales. In 2009, AT&T again ranked No. 1 in the telecommunications industry on FORTUNE® magazine's list of the World's Most Admired Companies.
Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/. This AT&T news release and other announcements are available at http://www.att.com/newsroom and as part of an RSS feed at http://www.att.com/rss. Or follow our news on Twitter at @ATTNews. Find us on Facebook at http://www.facebook.com/ATT to discover more about our consumer and wireless services or at http://www.facebook.com/ATTSmallBiz to discover more about our small business services.
About Summit Entertainment, LLC
Summit Entertainment, LLC is a worldwide theatrical motion picture development, financing, production and distribution studio. The studio handles all aspects of marketing and distribution for both its own internally developed motion pictures as well as acquired pictures. Summit Entertainment, LLC also represents international sales for both its own slate and third party product. Summit Entertainment, LLC plans to release 10 to 12 films annually.
© 2009 AT&T Intellectual Property. All rights reserved. 3G service not available in all areas. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
TM & © 2009 SUMMIT ENTERTAINMENT, LLC. All rights reserved.
RealArcade and RealNetworks are registered trademarks of RealNetworks, Inc.
AT&T Inc.
CONTACT: Sean Lashley of AT&T Inc., Office: +1-314-982-1746, Mobile: +1-618-444-0707, slashley@attnews.us
Web Site: http://www.att.com/
Hagens Berman: Class-Action Lawsuits Against KB Home Expand to Florida, North Carolina and South CarolinaLawsuit cites similar claims to California and Arizona complaints, alleging price inflation scheme.
ORLANDO, Fla., Nov. 3 /PRNewswire/ -- A Central Florida homeowner forced into foreclosure filed a class-action lawsuit last week against KB Home , Countrywide Financial and LandSafe Appraisal Services, claiming the three conspired to rig housing prices in Florida, South Carolina and North Carolina, costing home purchasers millions of dollars, and fueling the collapse of the region's housing market.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080317/AQM144LOGO)
The suit, filed in U.S. District Court in Orlando, Fla. on Friday, October 30, claims the three companies employed a well-planned scheme to control the typically independent appraisal process, jacking up home values, which, in turn, were used to determine the value of other homes sold by KB, affecting thousands of homeowners.
This is the third lawsuit Hagens Berman Sobol Shapiro's (HBSS) filed against KB Home, Countrywide and LandSafe alleging a widespread and complicated inflation scheme. The other lawsuits represent homeowners in California, Arizona and Nevada.
"Since we filed the first lawsuit in May, we've heard from homeowners and industry insiders who have validated our conclusions that Countrywide and LandSafe were gaming the system, causing thousands of homeowners to overpay for their home purchases by tens of thousands of dollars," said Steve Berman, managing partner of HBSS.
Berman noted that since the first suit was filed, he has heard from hundreds of homeowners, many desperate to dig out of the financial hole the suit contends KB and Countrywide put them in through the alleged scheme.
"No one wants to learn they overpaid for a home, and certainly not because the builder and the appraiser rigged the game," Berman noted.
According to the 94-page complaint, Countrywide funneled all its KB customers' home appraisals to a single person at LandSafe, an appraisal subsidiary of Countrywide, who in turn would deliver an appraisal value at whatever KB and Countrywide ordered.
The named plaintiff, Stephanie Sullivan, purchased her home in 2006 for $426,000. An appraisal conducted a year later reported her home was worth $310,000 and cited that the market was not the reason for the lower value but rather an inaccurate and fraudulent appraisal.
In 2007, Sullivan's husband was laid off and they were unable to pay the mortgage. The Sullivans tried to work with Countrywide to modify the loan but the lending giant refused, filing a lien on the home and eventually foreclosed, pushing the Sullivans into bankruptcy.
The suit claims all KB Homes in the Southeast segment were targeted by the scheme. The complaint states between 2006 and 2008 more than 19,000 homes were delivered to the area. At an average price of $225,000 a home, and conservatively assuming an average inflated appraisal of $30,000 per home, that amounts to almost $600 million in inflated contract prices, the suit states.
"The appraisal is a critical step in the home-purchasing process, designed to be an independent evaluation of the property's value," Berman added. "We allege that KB and LandSafe dealt from the bottom of the deck, robbing homeowners of millions of dollars."
In July 2005, KB settled an investigation with U.S. Department of Housing and Urban Development (HUD) for $3.2 million. The payment settled 13 underwriting violations found by HUD and resulted in the largest administrative penalty payment in the agency's history.
One week prior to the announcement of the HUD settlement, KB announced it was selling its mortgage arm to Countrywide and together the companies formed Countrywide-KB, a joint venture that exclusively provides loans to KB home purchasers, the suit states.
The lawsuit lists several claims against the defendants including violations of the Racketeer Influenced and Corrupt Organizations Act (RICO), violation of California unfair competition law, violation of Florida deceptive and unfair trade practices act, unjust enrichment and violations of Real Estate Settlement Procedures Act (RESPA).
The lawsuit represents anyone who used Countrywide and LandSafe to finance a home purchased through KB Home in Florida, South Carolina or North Carolina. To join this case, homeowners can contact attorneys by visiting http://www.hbsslaw.com/kbhomes, e-mailing kbhomes@hbsslaw.com or calling (206) 623-7292.
About Hagens Berman Sobol Shapiro
Hagens Berman Sobol Shapiro is a nationally recognized class-action and complex-litigation law firm based in Seattle with offices in San Francisco, Chicago, Boston, Los Angeles and Phoenix. Among recent successes, HBSS negotiated a $300 million settlement in the DRAM memory antitrust litigation, the largest antitrust settlement in U.S. history, recovered $340 million on behalf of Enron employees, and was part of the leadership team in the $3 billion Visa/MasterCard settlement. In pharmaceutical litigation, the firm's recent successes include a $350 million settlement with McKesson, more than $200 million with other parties in drug-pricing litigation, and a $150 million settlement regarding Lupron. HBSS represented Washington and 12 other states against the tobacco industry that resulted in the largest settlement in history. For a complete listing of HBSS cases, visit http://www.hbsslaw.com/.
Photo: http://www.newscom.com/cgi-bin/prnh/20080317/AQM144LOGO http://photoarchive.ap.org/ PRN Photo Desk, photodesk@prnewswire.com
Hagens Berman
CONTACT: Steve Berman of Hagens Berman Sobol Shapiro, +1-206-623-7292, Steve@hbsslaw.com; or Mark Firmani of Firmani + Associates, Inc., +1-206-443-9357, Mark@firmani.com, for Hagens Berman Sobol Shapiro
Web Site: http://www.hbsslaw.com/
Atrium Innovations Joins the Council for Responsible Nutrition
QUEBEC CITY, Nov. 3 /PRNewswire-FirstCall/ -- Atrium Innovations Inc. (TSX: ATB), a leading developer, manufacturer, and marketer of science-based and professionally supported products for the health and nutrition industry, announced today that the Company has been named among the newest voting members of the Council for Responsible Nutrition (CRN), the leading trade association committed to advocate for public policy based on sound science and consumer access to safe, beneficial, and high quality dietary supplement products.
"As a leader in scientifically-based nutritional supplements, Atrium Innovations is pleased to become a member of the Council for Responsible Nutrition," said Pierre Fitzgibbon, President and CEO of Atrium Innovations. "Through its work advocating for sound science and safety in dietary supplements, CRN is increasing awareness among consumers and healthcare professionals that they can confidently choose high quality nutritional supplements, like those in the Atrium family of brands. Along with industry advances like the new requirements for GMP compliance, CRN is raising the bar for quality in the supplement industry and Atrium is proud to be part of such a well respected organization."
The Council for Responsible Nutrition (CRN), founded in 1973 and based in Washington, D.C., is the leading trade association representing dietary supplement manufacturers and ingredient suppliers. CRN companies produce a large portion of the dietary supplements marketed in the United States and globally. CRN member companies manufacture products marketed through natural food stores and mainstream direct selling companies, as well as popular national brands sold by major supermarkets, drug stores, and discount chains.
"With its focus on development of science-based products and innovation, we are pleased to welcome Atrium to CRN," commented Steve Mister, CRN President and CEO. "The Atrium brands are extremely well regarded by health care professionals and in the aisles of health food stores. We trust that having Atrium as a member of CRN will further our mission to enhance consumer confidence in the dietary supplement industry."
In addition to complying with federal and state regulations governing dietary supplements in the areas of manufacturing, marketing, quality control, and safety, CRN members adhere to additional voluntary guidelines, as well as CRN's Code of Ethics. CRN provides member companies with expertise and action in the areas of science, regulation, legislation, communications, and international affairs, and enhances an environment for its members to responsibly market dietary supplements and their ingredients.
About Atrium brands
Every Atrium brand is fully committed to its customers' health. Atrium innovates, researches, develops, and manufactures best-in-class formulations that are scientifically proven effective by recognized clinical research, formulations that consumers and health care providers can trust. Atrium is passionate about educating healthcare providers and consumers on the science behind nutritional health so they can make the best choices for themselves and their families. It is all part of Atrium's mission to help create a healthier quality of life, today and tomorrow. Below is an overview of the Atrium family of brands.
Wobenzym
The world's #1 systemic enzyme formulation trusted by Germans for 40 years and scientifically proven to relieve chronic joint pain and more.
Garden of Life
Premium whole food nutrition combines nature's most powerful ingredients to optimize nutritional well-being and empower extraordinary health.
Douglas Laboratories
The physician's trusted partner for superior-quality natural supplements and the latest, most reliable nutritional science.
Pure Encapsulations
The healthcare practitioner's choice for the purest, highest-quality hypoallergenic supplements, strictly formulated according to the latest scientific findings.
Orthica
The Netherland's #1 loved and trusted orthomolecular retail brand that physician's have been recommending to patients for 20 years.
Nutri-Health Supplements
Quality, natural probiotic formulations, digestive enzymes, and nutritional supplements scientifically proven to balance digestive and immune health.
AOV
The world leader in orthomolecular health and the naturopathic expert's trusted choice for high-quality, high-dosage, science-based orthomolecular products.
Alcrea Health
Product design and manufacturing experts who work hand in hand with clients to create superior, well-crafted health products.
About Atrium Innovations
Atrium Innovations Inc. (TSX: ATB) is a globally recognized leader in the innovation, formulation, production, and commercialization of science-based and professionally endorsed products for the Health & Nutrition industry. The Company focuses primarily on growing segments of the health and nutrition markets which are benefiting from the trends towards healthy living and the ageing of the population. Atrium markets a broad portfolio of finished products through its highly specialized sales and marketing network in more than 35 countries, primarily in North America and Europe. Atrium has approximately 900 employees and operates seven manufacturing facilities. Additional information about Atrium is available on its website at
http://www.atrium-innovations.com/.
About the Council for Responsible Nutrition
The Council for Responsible Nutrition (CRN), founded in 1973 and based in Washington, D.C., is the leading trade association representing dietary supplement manufacturers and ingredient suppliers. CRN companies produce a large portion of the dietary supplements marketed in the United States and globally. In addition to complying with a host of federal and state regulations governing dietary supplements in the areas of manufacturing, marketing, quality control, and safety, CRN's 70+ manufacturer and supplier members also agree to adhere to additional voluntary guidelines as well as CRN's Code of Ethics. For more information, visit http://www.crnusa.org/.
Atrium Innovations Inc.
CONTACT: Investor Relations: Mario Paradis, Vice President & Chief Financial Officer, (418) 652-1116, mp@atrium-innovations.com; Media Relations: Stephanie Marks for Atrium Innovations, (212) 867-1762, smarks@lazarpartners.com; Michael Szumera for Atrium Innovations, (212) 867-1762, mszumera@lazarpartners.com
Nissan North America Announces October SalesNissan Posts 5.6 Percent Sales Increase Over Last Year
FRANKLIN, Tenn., Nov. 3 /PRNewswire-FirstCall/ -- Nissan North America, Inc. (NNA) today reported October 2009 sales of 60,115 units versus 56,945 units last year, an increase of 5.6 percent, compared with October 2008. Nissan Division sales rose 7.7 percent for the month, while sales of Infiniti vehicles were 9.3 percent lower than a year ago.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080506/NISSANWORDMARKLOGO )
NNA INFORMATION
-- Combined Nissan and Infiniti sales of 60,115 units were 5.6 percent
higher than October sales last year of 59,945 units.
-- To ensure consistency in global sales reporting, Nissan North America
calculates monthly variances on a straight-percentage basis,
unadjusted for the number of selling days. October had 28 selling
days, compared with 27 selling days in October 2008.
NISSAN HIGHLIGHTS
-- Nissan vehicles posted sales of 53,664 units in October compared with
49,833 units sold in October 2008, a 7.7 percent increase.
-- Rogue recorded the best October in history with sales of 5,958
vehicles, up 6.7 percent from the same month last year.
-- Truck sales rose 17.5 percent in October 2009 compared with a year
ago, led by sales increases of 97.2 percent for Armada, 67.6 percent
for Titan and 48 percent for Frontier
-- On the car side, Sentra sales increased 39.3 percent in October versus
a year ago, sales of the 370Z rose 59.1 percent and Maxima sales were
up 5.8 percent.
INFINITI HIGHLIGHTS
-- Infiniti sales for October 2009 were 6,451 units, down 9.3 percent
from the 7,112 units sold in the same month last year.
-- Sales of the G Coupe rose 45.6 percent for the month, compared with
October 2008
-- The Infiniti QX56 continued to grow sales, posting a 42.6 percent
increase last month over a year ago.
In North America, Nissan's operations include automotive styling, engineering, consumer and corporate financing, sales and marketing, distribution and manufacturing. Nissan is dedicated to improving the environment under the Nissan Green Program 2010, whose key priorities are reducing CO2 emissions, cutting other emissions and increasing recycling. More information on Nissan in North America and the complete line of Nissan and Infiniti vehicles can be found online at http://www.nissanusa.com/ and http://www.nissandriven.com/www.infinitiusa.com.
NISSAN DIVISION
---------------
October October Monthly CYTD CYTD CYTD
2009 2008 % chg 2009 2008 % chg
---- ---- ----- ---- ---- -----
Nissan Division
Total 53,664 49,833 7.7 574,074 745,558 -23.0
--------- ------ ------ --- ------- ------- -----
Versa 6,786 6,889 -1.5 70,543 75,509 -6.6
----- ----- ----- ---- ------ ------ ----
Sentra 6,128 4,400 39.3 71,304 89,036 -19.9
------ ----- ----- ---- ------ ------ -----
Cube 2,097 0 0.0 16,849 0 0.0
---- ----- - --- ------ - ---
Altima 14,773 17,753 -16.8 169,435 241,529 -29.8
------ ------ ------ ----- ------- ------- -----
Maxima 4,593 4,341 5.8 42,936 40,955 4.8
------ ----- ----- --- ------ ------ ---
350/370Z 824 518 59.1 11,480 9,320 23.2
-------- --- --- ---- ------ ----- ----
GT-R 117 321 -63.6 1,323 1,373 -3.6
---- --- --- ----- ----- ----- ----
Total Car 35,318 34,222 3.2 383,870 457,722 -16.1
--------- ------ ------ --- ------- ------- -----
Frontier 2,295 1,551 48.0 23,420 42,424 -44.8
-------- ----- ----- ---- ------ ------ -----
Titan 1,688 1,007 67.6 15,393 30,907 -50.2
----- ----- ----- ---- ------ ------ -----
Xterra 1,516 1,136 33.5 12,909 30,842 -58.1
------ ----- ----- ---- ------ ------ -----
Pathfinder 1,598 1,142 39.9 14,397 30,790 -53.2
---------- ----- ----- ---- ------ ------ -----
Armada 1,055 535 97.2 7,312 14,040 -47.9
------ ----- --- ---- ----- ------ -----
Rogue 5,958 5,584 6.7 65,570 60,636 8.1
----- ----- ----- --- ------ ------ ---
Murano 3,881 4,302 -9.8 43,120 60,778 -29.1
------ ----- ----- ---- ------ ------ -----
Quest 355 354 0.3 8,083 17,419 -53.6
----- --- --- --- ----- ------ -----
Total Truck 18,346 15,611 17.5 190,204 287,836 -33.9
----------- ------ ------ ---- ------- ------- -----
North American
produced 40,787 39,108 4.3 435,732 613,451 -29.0
-------------- ------ ------ --- ------- ------- -----
Car 32,280 33,383 -3.3 354,218 447,029 -20.8
--- ------ ------ ---- ------- ------- -----
Truck 8,507 5,725 48.6 81,514 166,422 -51.0
----- ----- ----- ---- ------ ------- -----
Import 12,877 10,725 20.1 138,342 132,107 4.7
------ ------ ------ ---- ------- ------- ---
Car 3,038 839 262.1 29,652 10,693 177.3
--- ----- --- ----- ------ ------ -----
Truck 9,839 9,886 -0.5 108,690 121,414 -10.5
----- ----- ----- ---- ------- ------- -----
INFINITI DIVISION
-----------------
October October Monthly CYTD CYTD CYTD
2009 2008 % chg 2009 2008 % chg
---- ---- ----- ---- ---- -----
Infiniti Division
Total 6,451 7,112 -9.3 66,337 97,086 -31.7
--------- ----- ----- ---- ------ ------ -----
G Sedan 2,448 2,647 -7.5 26,714 37,545 -28.8
------- ----- ----- ---- ------ ------ -----
G Coupe 1,441 990 45.6 12,005 17,197 -30.2
------- ----- --- ---- ------ ------ -----
M 536 1,193 -55.1 7,277 13,238 -45.0
- --- ----- ----- ----- ------ -----
QX56 613 430 42.6 4,770 6,789 -29.7
---- --- --- ---- ----- ----- -----
EX 560 898 -37.6 6,419 11,187 -42.6
-- --- --- ----- ----- ------ -----
FX 853 954 -10.6 9,152 11,130 -17.8
-- --- --- ----- ----- ------ -----
Total Car 4,425 4,830 -8.4 45,996 67,980 -32.3
--------- ----- ----- ---- ------ ------ -----
Total Truck 2,026 2,282 -11.2 20,341 29,106 -30.1
----------- ----- ----- ----- ------ ------ -----
NISSAN & INFINITI
-----------------
October October Monthly CYTD CYTD CYTD
2009 2008 % chg 2009 2008 % chg
---- ---- ----- ---- ---- -----
TOTAL VEHICLE 60,115 56,945 5.6 640,411 842,644 -24.0
------------- ------ ------ --- ------- ------- -----
Total Car 39,743 39,052 1.8 429,866 525,702 -18.2
--------- ------ ------ --- ------- ------- -----
Total Truck 20,372 17,893 13.9 210,545 316,942 -33.6
----------- ------ ------ ---- ------- ------- -----
Selling days 28 27 257 257
------------ -- -- --- ---
* All numbers include Hawaii
Photo: http://www.newscom.com/cgi-bin/prnh/20080506/NISSANWORDMARKLOGO
Nissan North America, Inc.
CONTACT: Fred Standish, +1-615-725-5946, of Nissan North America
Web Site: http://www.nissanusa.com/
Susser Holdings to Hold Third Quarter 2009 Earnings Conference Call November 4
CORPUS CHRISTI, Texas, Nov. 3 /PRNewswire-FirstCall/ -- Susser Holdings Corporation will release its third quarter 2009 financial and operating results on Wednesday, Nov. 4, before the market opens. In conjunction with the release, the Company has scheduled a conference call that will be broadcast live over the Internet the same day at 11 a.m. Eastern Time.
What: Susser Holdings Third Quarter 2009 Earnings Conference Call
When: Wednesday, Nov. 4 at 11 a.m. ET
Participate live via phone by dialing 480-629-9821, or live over the Internet by logging onto the Company's web site at http://www.susser.com/ on the "Events & Presentations" page of the Investor Relations section. A telephonic replay will be available through Nov. 11 by calling 303-590-3030 and using the access code 4171075#. An archive of the webcast will be available for 60 days on Susser's web site.
Corpus Christi, Texas-based Susser Holdings Corporation is a third-generation family led business that operates more than 520 convenience stores in Texas, New Mexico and Oklahoma under the Stripes and Town & Country banners. Restaurant service is available in over 300 of its stores, primarily under the proprietary Laredo Taco Company and Country Cookin' brands. The Company also supplies branded motor fuel to approximately 380 independent dealers through its wholesale fuel division.
SUSS-IR
Contacts: Susser Holdings Corporation
Mary Sullivan, Chief Financial Officer
(361) 693-3743, msullivan@susser.com
DRG&E
Ken Dennard, Managing Partner
(713) 529-6600, ksdennard@drg-e.com
Anne Pearson, Senior Vice President
(210) 408-6321, apearson@drg-e.com
Susser Holdings Corporation
CONTACT: Mary Sullivan, Chief Financial Officer of Susser Holdings Corporation, +1-361-693-3743, msullivan@susser.com; or Ken Dennard, Managing Partner, +1-713-529-6600, ksdennard@drg-e.com, or Anne Pearson, Senior Vice President, +1-210-408-6321, apearson@drg-e.com, both of DRG&E, for Susser Holdings Corporation
Web Site: http://www.susser.com/
Varian, Inc. to Release Fourth Quarter and Full Fiscal Year 2009 Financial Results
PALO ALTO, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Varian, Inc. (NasdaqGS: VARI) plans to release its fourth quarter and full fiscal year 2009 financial results after 1:00 p.m. Pacific Time (PT) on Wednesday, November 4, 2009. Due to its pending acquisition by Agilent Technologies, Inc., the company will not be holding an investor conference call to review those results.
About Varian, Inc.
Varian, Inc. is a leading worldwide supplier of scientific instruments and vacuum technologies for life science, environmental, energy, and applied research and other applications. The company provides complete solutions, including instruments, vacuum products, laboratory consumable supplies, software, training and support through its global distribution and support systems. Varian, Inc.'s common stock is traded on the NASDAQ Global Select Market under the symbol "VARI." Further information is available on the company's Web site at http://www.varianinc.com/.
For More Information, Contact:
Investor Relations
Varian, Inc.
650.424.5471
ir@varianinc.com
Varian, Inc.
CONTACT: Investor Relations of Varian, Inc., +1-650-424-5471, ir@varianinc.com
Web Site: http://www.varianinc.com/
CNPV lance une série de modules haut de gamme à 72 cellules monocristallines de 125 mm à rendement élevé
DONGYING, Chine, November 3 /PRNewswire/ --
CNPV (NYSE Euronext : ALCNP), un important fabricant de multiples
produits solaires, a annoncé aujourd'hui qu'ICIM/Euro Test Lab, d'Italie, a
décerné la certification de la Commission électrotechnique internationale
(CEI) à la série de modules photovoltaïques haut de gamme de la société, dont
la puissance varie de 190 Wp à 200 Wp et lesquels sont faits de cellules
monocristallines de 125 x 125 mm à haute efficacité. La série de modules haut
de gamme a récemment été lancée et présentée à l'occasion de la 24e édition
de l'EUPVSEC, tenue à Hambourg, en Allemagne. Jusqu'à présent, CNPV a expédié
8 MWp de ces modules haut de gamme à montage sur toits à d'importants clients
établis en Allemagne, en France, en Belgique et en République tchèque.
(Logo : http://www.newscom.com/cgi-bin/prnh/20081103/CNM010LOGO)
La nouvelle série de modules haut de gamme de 72 cellules est composée de
cellules solaires en silicium monocristallin à haute efficacité et de grande
surface, de verre enduit antireflet et de matériaux interconnectés à
conductivité élevée. Grâce à leur diamètre plus grand que celui des cellules
standard (165 mm comparativement à 150 mm), et de leur rendement de
conversion élevé (17,5 %), les cellules génèrent une production d'énergie 8 %
supérieure aux cellules standard de l'industrie. Le verre enduit antireflet
garantit un coefficient de transmission de 93 % selon les conditions d'essai
standard (STC) et offre un rendement supplémentaire de 3 % aux installations
sur le terrain. L'utilisation de rubans interconnectés doux, ductiles et à
haute conductivité réduit au minimum les pertes de puissance résistive à la
fois au niveau de l'essai standard que sur le terrain.
La série de modules haut de gamme est soutenue par les 25 années
d'expérience de CNPV dans le secteur de l'énergie, ainsi que d'une garantie
de fabrication de 10 ans du produit. Les modules de la série ont obtenu la
certification 5400Pa de la CEI, assurant leur capacité de résister aux fortes
pressions du vent et aux lourdes charges de neige. Les modules haut de gamme
sont en cours de production et sont disponibles à des puissances nominales de
190 Wp et de 195 Wp. CNPV commercialise les modules de classifications
CNPV-175M à CNPV-185M dans sa série standard ainsi que les modules CNPV-190M
à CNPV-200M dans sa série haut de gamme.
B. Veerraju Chaudary, directeur de la technologie de CNPV, a déclaré :
<< CNPV est la première de son domaine à obtenir la certification de la CEI
pour une série de modules de cette catégorie, ainsi qu'à en entamer la mise
en marché. Il s'agit d'une réalisation remarquable pour CNPV qui démontre
clairement la puissance et la polyvalence de la technologie de cette série de
modules haut de gamme. La mise au point de la série de modules haut de gamme
fait partie d'un vaste programme de recherche et développement de CNPV
destiné à l'amélioration soutenue de l'efficacité des modules. >>
<< Les certifications IEC61215 Ed2 et IEC61730 confirment que les
processus de conception et de fabrication des modules photovoltaïques
solaires cristallins haut de gamme et à rendement élevé de CNPV respectent
les exigences strictes de la commission en ce qui concerne les capacités
fonctionnelles, mécaniques et de sécurité visant un bon fonctionnement à long
terme en plein air. De plus, elles valident les améliorations que nous avons
apportés dans nos normes de fabrication et nos processus efficaces, en plus
de renforcer notre engagement à l'égard du rendement, de la sécurité et de la
stabilité >>, ont déclaré de concert M. Zhang Shunfu, PDG et B. Veerraju
Chaudary, directeur de l'exploitation, technicien en chef et membre du
conseil d'administration de CNPV. << Nous sommes impatients de travailler en
étroite collaboration avec ICIM, Euro Test Lab Italie, TUV Germany, UL Groups
et d'autres organisations internationales d'évaluation alors que nous
redoublons nos efforts en termes de recherche et de développement. >>
À propos de CNPV
China Solar Photovoltaic SA (NYSE Euronext : ALCNP), par l'intermédiaire
de sa filiale en propriété exclusive China Photovoltaic Group Dongying
Photovoltaic Power Company Limited, est une importante société oeuvrant dans
le domaine de l'énergie solaire qui fabrique de multiples produits tels des
lingots, des plaquettes, des cellules et des modules solaires et bénéficie
d'une forte présente dans le domaine photovoltaïque solaire. La société
veille à la conception, à la fabrication et à la livraison de modules
photovoltaïques solaires en silicium cristallin pour application terrestre à
bon rapport qualité-prix. La fiabilité et la longévité définissent nos
modules solaires photovoltaïques en silicium cristallin de calibre mondial,
qui font l'objet de tests internes rigoureux et de certifications externes
(IEC61215, IEC61730, UL et CE) afin d'en garantir la sécurité et le rendement
maximal. Pour obtenir de plus amples renseignements, veuillez consulter le
site Web de CNPV au http://www.cnpv-power.com
Pour obtenir de plus amples renseignements, veuillez contacter :
B. Veerraju Chaudary
Directeur de l'exploitation, technicien en chef et membre du conseil
d'administration
Tél. : +86-546-7795053
Portable : +86-13656-473355
E-mail : chaudary@cnpv-power.com
Jane Liu, directeur des relations avec les investisseurs et du financement
Tél. : +86-546-7795079
Portable : +86-15318-358353
E-mail : jane.liu@cnpv-power.com
CNPV Dongying Photovoltaic Power Company Limited
B. Veerraju Chaudary, +86-546-7795053, +86-13656-473355 (portable), chaudary@cnpv-power.com, ou Jane Liu, +86-546-7795079, +86-15318-358353 (mobile), jane.liu@cnpv-power.com
PPL Receives FERC Approval to Expand Holtwood Hydroelectric Plant
HOLTWOOD, Pa., Nov. 3 /PRNewswire-FirstCall/ -- Approval by the Federal Energy Regulatory Commission of a request by PPL Holtwood, LLC, is a significant milestone in the plan to increase generation of clean, renewable energy and improve migratory fish passage, the company said Tuesday (11/3).
"Expanding the Holtwood plant is part of PPL's commitment to make sound financial investments while increasing the proportion of non-fossil-fuel resources in our strong generation portfolio," said Victor N. Lopiano, PPL's senior vice president-Fossil and Hydro Generation. "We appreciate FERC's timely action on our application."
About 40 percent of the electricity PPL generates annually comes from nuclear, hydroelectric and renewable sources that do not emit carbon dioxide to the atmosphere, he said.
The expansion project, with an estimated cost of $440 million, will add enough renewable energy to power 100,000 typical homes. PPL's planned 125-megawatt increase in generating capacity will more than double Holtwood's existing generating capacity of 108 megawatts. In addition, in approving this application FERC has extended the existing operating license for the Holtwood hydroelectric plant through August 2030.
PPL resubmitted the Holtwood expansion application to FERC in April 2009 after withdrawing the original application in December 2008, citing economic conditions. In refiling the application, PPL said incentives in the federal stimulus package could make the project feasible again by offsetting the factors that caused the company to withdraw its original application.
"We continue to work with the U.S. Department of Energy to obtain loan guarantees for the Holtwood project from the federal economic stimulus package. The loan guarantees will enable us to reduce the overall financing cost for the project to develop additional clean, renewable energy," Lopiano said.
Additional benefits of the project are improved passage for migratory fish along the Susquehanna River and its tributaries, and improved recreational opportunities.
PPL has selected Walsh Construction of Chicago as the general contractor for the project, which is expected to create more than 200 construction jobs. Some pre-construction work has begun. Construction is expected to start in the first quarter of 2010.
PPL purchased the turbine generators for the project from a Pennsylvania company, Voith Hydro of York.
FERC's approval of the Holtwood project comes just weeks after PPL's official start of redevelopment at its Rainbow hydroelectric plant near Great Falls, Mont. The Montana project, with an estimated cost of $230 million, will increase the amount of clean, renewable power generated there by 70 percent and improve fish passage when the project is completed in 2012.
The Holtwood plant has been generating electricity since 1910, using the power of the water held back by a 55-foot-high dam across the Susquehanna River between Lancaster and York counties in south central Pennsylvania. The dam creates Lake Aldred, an 8-mile reservoir that provides opportunities for boating, fishing and other public recreation.
PPL Corporation , headquartered in Allentown, Pa., controls or owns more than 12,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to about 4 million customers in Pennsylvania and the United Kingdom. More information is available at http://www.pplweb.com/.
PPL Corporation
CONTACT: George Lewis of PPL Corporation, +1-610-774-5997
Web Site: http://www.pplweb.com/
Bankers Petroleum advises of BNK.WT Warrant expiry
CALGARY, Nov. 3 /PRNewswire-FirstCall/ -- Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) hereby notifies all holders of its 2009 Warrants (TSX: BNK.WT, AIM: BNKW) (CUSIP: 066286 13 9, ISIN: CA 0662861396) that they must be tendered for exercise before the deadline of November 10, 2009 (1pm Toronto time). Each 2009 Warrant entitles the holder to purchase one common share at a subscription price of $2.49 per share. 2009 Warrants not tendered for exercise prior to the deadline will expire and be void and of no value.
All exercise notices should be directed to the Company's transfer agent, Computershare Investor Services Inc., as stipulated in the 2009 Warrant. 2009 Warrant investors are advised that CDS Inc. and/or investment dealers through which 2009 Warrants are held may impose earlier deadlines for the exercise of 2009 Warrants and holders of 2009 Warrants should consult with their investment dealers or stockbrokers to ensure 2009 Warrants are tendered for exercise prior to any such shorter deadline.
To clarify, this deadline only applies to Bankers' 2009 Warrants. The 2012 Warrants (BNK.WT.A) (CUSIP: 066286 14 7, ISIN: CA 0662861479) warrants will continue to trade on the Toronto Stock Exchange until their expiry on March 1, 2012. The 2012 Warrants entitle the holder to purchase one common share at a subscription price of $2.37 per share.
At September 30, 2009, the Company has 225,383,142 common shares outstanding, 12,302,447 options to purchase common shares, 3,165,117 2009 Warrants, 4,873,667 2012 Warrants and 1,266,667 unlisted common share purchase warrants.
The 2009 Warrants will be cancelled to trading on AIM with effect from 8:00 am on November 11, 2009.
About Bankers Petroleum Ltd.
Bankers Petroleum Ltd. is a Canadian-based oil and gas exploration and production company focused on developing large oil and gas reserves. In Albania, Bankers operates and has the full rights to develop the Patos-Marinza heavy oil field and has a 100% interest in the Kucova oil field. Bankers' shares are traded on the Toronto Stock Exchange and the AIM Market in London, England under the stock symbol BNK.
Bankers Petroleum Ltd.
CONTACT: Abby Badwi, President and Chief Executive Officer, (403) 513-2694; Doug Urch, VP, Finance and Chief Financial Officer, (403) 513-2691; Email: investorrelations@bankerspetroleum.com, Website: http://www.bankerspetroleum.com/, AIM NOMAD: Canaccord Adams Limited, Ryan Gaffney, Henry Fitzgerald-O'Connor, +44 20 7050 6500, AIM JOINT BROKERS: Canaccord Adams Limited, Ryan Gaffney, Henry Fitzgerald-O'Connor, +44 20 7050 6500; Macquarie Capital Advisors, Paul Connolly, Ben Colegrave, +44 (0) 20 3037 5639
BMO Capital Markets Appoints New Head of U.S. Financial Sponsors GroupBMO says private equity players to become more active this year
NEW YORK, Nov. 3 /PRNewswire-FirstCall/ -- BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE, TSX: BMO), has appointed Dirk Leasure as Head of its Financial Sponsors Group.
Based in New York, Leasure will lead a team of investment bankers based in New York and Chicago who specialize in helping U.S. private equity firms.
The group works closely with private equity firms by providing advisory services as well as acquisition financing when they pursue leveraged buyout transactions. In addition, BMO's Financial Sponsors Group helps with add-on acquisitions while the sponsor owns the company, and assists with M&A and Equity Capital Markets advice when the sponsor looks to exit from the investment.
"The private equity community remains vibrant and a strong source of investment and corporate banking revenue. As the financial markets and our economy recover, financial sponsors will become an even more active and important client group," said Dominic Petito, Co-Head, U.S. Investment & Corporate Banking, BMO Capital Markets.
"Serving the needs of financial sponsor clients will help BMO Capital Markets accelerate and strengthen our growth across the full range of industry sectors and product groups. Dirk has significant experience working with financial sponsors and we look forward to his leadership and direction to capitalize on the opportunities before us," said David Casper, Co-Head, U.S. Investment & Corporate Banking, BMO Capital Markets.
As the markets continue to recover, BMO anticipates a substantial increase in private equity activity into 2010 and beyond. Some of the trends expected to surface within the private equity market include:
- A significant increase in the size and number of transactions
involving sponsors looking to exit from successful investments by
selling companies from their portfolios as buyers are increasingly
able to obtain debt financing
- A notable rise in the size and number of transactions involving
sponsors looking to exit from successful investments by taking their
companies public via IPOs given the rebound in public equity market
values
- A considerable boost in the number and size of transactions where
sponsors are buying companies as new investments as the loan and high
yield bond markets continue to recover
- Sponsors, particularly in the middle-market, will continue to be more
selective in choosing the investment banks they partner with. For
example, sponsors will focus even more intently on developing key
relationships with those investment banks that can bring them deal
flow, provide acquisition financing and have deep sector expertise
and execution capabilities.
"BMO is exceptionally well-positioned to benefit from the increase in sponsor activity, which we are already seeing. Consequently, we are excited about the opportunity and believe that adding additional focus and people to this effort will produce substantial rewards," said Leasure.
Prior to joining BMO Capital Markets in 2002, Leasure spent eight years with Goldman Sachs working with financial sponsors in their leveraged finance group, including two years leading that group's efforts with financial sponsors in London. Leasure is a graduate of the McIntire School of Commerce at the University of Virginia.
About BMO's U.S. Financial Sponsors Group
A financial sponsor is another name commonly used to refer to private equity investment firms, particularly those private equity firms that engage in leveraged buyout or LBO transactions. BMO's U.S. Financial Sponsors Group is a highly regarded team dedicated to providing coverage for these investors. The group offers clients a full range of investment and corporate banking capabilities including development of proprietary investment opportunities, M&A advisory, acquisition financing, restructuring and equity capital market services through a single point of contact. For more information visit, http://www.bmocm.com/industry/us/fs
About BMO Capital Markets
BMO Capital Markets is a leading full-service North American financial services provider, with over 2,400 employees operating in 14 North American offices and 27 worldwide, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US$385 billion total assets and 37,000 employees as at July 31, 2009.
BMO Bank of Montreal
CONTACT: Media Contacts: Kim Hanson, kim.hanson@bmo.com, (416) 867-3996; Holly Holt, holly.holt@bmo.com, (212) 885-4153, Internet: http://www.bmocm.com/
Oberthur Technologies Simplifies EMV Migration for U.S. Card IssuersPrepared to Deliver EMV Migration Solutions Today
CHANTILLY, Virginia, November 3 /PRNewswire-FirstCall/ -- Oberthur Technologies, the world's second largest provider of smart card based solutions and a leading contactless card provider in the U.S., today announced its breakthrough EMV migration solution, "EMV-in-Box", for card issuers in the United States.
"At a time when the global marketplace is migrating to EMV to fight against rapidly increasing payment fraud, the U.S. will become isolated if it stays with magstripe-only technology," said Martin Ferenczi, Managing Director of the Americas Region for the Card Systems Division at Oberthur Technologies. "Oberthur's proven experience in EMV, our customer-focused EMV-in-a-Box solution along with our manufacturing and personalization footprint in the U.S. enables us to effectively deploy EMV cards in the U.S. today."
Oberthur Technologies, which has issued over 500 million EMV cards globally, offers a comprehensive range of EMV payment solutions to meet clients' needs, including contact, contactless and dual interface cards. EMV-in-a-Box, a fully integrated EMV migration solution and management program, is based on best practices gained by Oberthur Technologies' work on more than 200 EMV projects worldwide. The program includes on-site consultation, EMV training, project management and technical support. The migration plan enables EMV cards to be issued within 12 weeks from project initiation.
EMV (Europay MasterCard VISA) is a global specification for credit and debit payment cards based on chip card technology. The EMV standard, which offers enhanced security versus traditional magstripe cards, has widespread use and acceptance worldwide, excluding the United States.
Oberthur Technologies' ISO 9001 certified manufacturing facility, in southeast Pennsylvania, recently completed a multi-million dollar expansion plan. The newly installed equipment includes milling and embedding lines for chip based cards. The expanded facility is targeted to have a card manufacturing capacity of over 20 million cards a month. EMV card personalization can take place at either of Oberthur Technologies two bi-coastal service centers, located in Los Angeles, California and Chantilly, Virginia.
About Oberthur Technologies
With sales of 882 million Euros in 2008, Oberthur Technologies is a world leader in the field of secure technologies. Innovation and high quality services ensure Oberthur Technologies' strong positioning in its main target markets:
Card Systems: One of the world's leading providers of security and identification based on smart card technology and associated services for mobile, payment, transport, digital TV and convergence markets.
Identity: International player for the manufacture and personalization of secure identity documents such as passport, identity card, driving license or health care card - traditional and electronic - and associated services for both governmental and corporate markets.
Fiduciary printing: World's third largest private security printer specialized in high security for the production of banknotes, checks and other fiduciary documents in more than fifty countries.
Cash protection: World leader in the emerging market of intelligent systems to secure cash-in-transit and ATM.
Close to its customers, Oberthur Technologies benefits from an industrial and commercial presence across all five continents.
Website: http://www.oberthur.com/
Oberthur Technologies
CONTACT: U.S. Press Contacts: Leana Benson Hersch, +1-310-868-1318, l.hersch@oberthur.com; Trent Freeman, +1-310-479-7055, Tfreeman@olmsteadwilliams.com, Corporate Press Contact: Matthew Stroud, +1-33-1-47-85-58-06, m.stroud@oberthur.com
Daimler AG Reports a Total of 18,854 Cars Sold for the Mercedes-Benz Cars Division in the U.S. for October 2009-- Mercedes-Benz USA Records Highest Sales Month of the Year with Sales of 18,193, an Increase of 21.3 Percent Compared to October 2008 -- smart USA Records 661 Sales in October
NEW YORK, Nov. 3 /PRNewswire-FirstCall/ -- Daimler AG (stock exchange abbreviation DAI) today reported sales for the Mercedes-Benz Cars division in the U.S. (Mercedes-Benz and smart combined) of 18,854 units, an increase of 9.4 percent compared to October 2008. All sales figures in this release are on an unadjusted basis unless otherwise noted.
Mercedes-Benz USA (MBUSA) today reported October sales of 18,193 vehicles, its highest month of the year and a 21.3% improvement over October 2008.
"Clearly we're very pleased with this month's result and we believe that we will be able to parlay this into a strong fourth quarter and continued increases in our market share," said Ernst Lieb, President & CEO of MBUSA. Lieb attributed the strong month to a more stabile economic environment relative to last year and to the momentum of the company's new products -- the compact SUV GLK-Class and the new 9th generation E-Class -- as well as volume leaders like its C- and M-Class model lines.
The GLK-Class, introduced in January 2009, has outsold every vehicle in its class on a year-to-date basis. The all-new, 9th generation E-Class, launched in late June, recorded sales of 6,071 for October 2009, up 189.4% over October 2008. The other volume leaders for the month were the C-Class and M-Class with sales of 4,122, and 2,370 respectively.
On a year-to-date basis, the company sold 153,606 new vehicles, trailing the comparable period last year by 20.1%.
smart USA recorded 661 sales in October 2009. Year-to-date sales now total 13,082 units. Since its introduction in the United States, there are nearly 40,000 smart fortwos traveling the roads throughout America. The smart fortwo offers the right balance of power, outstanding fuel efficiency, innovative safety features, environmental friendliness and excellent value. There are 79 smart centers located in 36 states.
Detailed vehicle sales information for MBUSA will be announced later today in a separate press release issued by Mercedes-Benz USA.
Mercedes-Benz Cars Division in the U.S. Sales Summary Through October 2009
--------------------------------------------------------------------------
Month Sales % Sales CYTD %
Curr Yr Pr Yr Change Curr Yr Pr Yr Change
------- ----- ------ ------- ----- ------
Mercedes-Benz USA 18,193 14,996 21.3% 153,606 192,294 -20.1%
----------------- ------ ------ ---- ------- ------- -----
smart USA 661 2,236 -70.4% 13,082 20,392 -35.8%
--------- --- ----- ----- ------ ------ -----
Mercedes-Benz USA /
smart USA combined 18,854 17,232 9.4% 166,688 212,686 -21.6%
------------------- ------ ------ --- ------- ------- -----
Further information on Daimler is available on the internet at http://www.media.daimler.com/
About Daimler
Daimler AG, Stuttgart, with its businesses Mercedes-Benz Cars, Daimler Trucks, Daimler Financial Services, Mercedes-Benz Vans and Daimler Buses, is a globally leading producer of premium passenger cars and the global market leader of heavy- and medium-duty trucks as well as buses. The Daimler Financial Services division has a broad offering of financial services, including vehicle financing, leasing, insurance and fleet management. Daimler sells its products in nearly all the countries of the world and has production facilities on five continents. The company's founders, Gottlieb Daimler and Carl Benz, continued to make automotive history following their invention of the automobile in 1886. As an automotive pioneer, Daimler and its employees willingly accept an obligation to act responsibly towards society and the environment and to shape the future of safe and sustainable mobility with groundbreaking technologies and high-quality products. The current brand portfolio includes the world's most valuable automobile brand, Mercedes-Benz, as well as smart, AMG, Maybach, Freightliner, Western Star, Mitsubishi Fuso, Setra, Orion and Thomas Built Buses. The company is listed on the stock exchanges in Frankfurt, New York and Stuttgart (stock exchange abbreviation DAI). In 2008, the Group sold 2.1 million vehicles and employed a workforce of over 270,000 people; revenue totaled EUR 95.9 billion and EBIT amounted to EUR 2.7 billion. Daimler is an automotive Group with a commitment to excellence, and aims to achieve sustainable growth and industry-leading profitability.
Daimler Corporate Communications
CONTACT: Julia Engelhardt, Daimler, + 1-212-909 9062; or Donna Boland, Mercedes-Benz USA, + 1-201-573 6893; or Ken Kettenbeil, smart USA, +1-248-648 2582
Web Site: http://www.media.daimler.com/
AMERCO Declares Preferred Stock Dividend
RENO, Nev., Nov. 3 /PRNewswire-FirstCall/ -- On November 2, 2009, AMERCO, the parent company of U-Haul International, Inc. and other companies, declared a regular quarterly cash dividend of $.53125 per share on its Series A, 8 1/2 percent Preferred Stock . The dividend will be payable December 1, 2009 to holders of record on November 16, 2009.
About AMERCO
AMERCO is the parent company of U-Haul International, Inc., North America's largest "do-it-yourself" moving and storage operator, AMERCO Real Estate Company, Republic Western Insurance Company and Oxford Life Insurance Company.
Since 1945, U-Haul has been the best choice for the do-it-yourself mover, with a network of more than 15,800 locations in all 50 United States and 10 Canadian provinces. U-Haul customers' patronage has enabled the U-Haul fleet to grow to approximately 101,000 trucks, 76,000 trailers and 34,000 towing devices. U-Haul offers more than 398,000 rooms and approximately 35 million square feet of storage space at nearly 1,090 owned and managed facilities throughout North America. U-Haul is the consumer's number one choice as the largest installer of permanent trailer hitches in the automotive aftermarket industry. U-Haul supplies alternative-fuel for vehicles and backyard barbecues as one of the nation's largest retailers of propane.
U-Haul was founded by a Navy veteran who grew up during the Great Depression. Tires and gas were still rationed or in short supply during the late 1940s when U-Haul began serving U.S. customers. Today, that background is central to the U-Haul Sustainability Program: "Serving the needs of the present without compromising the ability of future generations to meet their own needs." Our commitment to reduce, reuse and recycle includes fuel efficient moving vans, neighborhood proximity, moving box reuse, moving pads made from discarded material and packing peanuts that are 100 percent biodegradable. Learn more about these facts and others at http://www.uhaul.com/sustainability.
For more information about AMERCO, please visit http://www.amerco.com/.
AMERCO
CONTACT: Jennifer Flachman, Director, Investor Relations of AMERCO, +1-602-263-6601, Flachman@amerco.com
Web Site: http://www.amerco.com/
Sunovia Energy Receives Permit from U.S. State Department to Export Infrared Products, Accelerates International Sales
SARASOTA, Fl., Nov. 3 /PRNewswire-FirstCall/ -- Sunovia Energy Technologies, Inc. (BULLETIN BOARD: SUNV) has been granted an export license from the U.S. Department of State to sell mercury cadmium telluride (HgCdTe) undoped infrared wafers for night-vision camera applications to a South Korean customer. This license permits Sunovia to substantially increase its international sales of infrared-related products.
Sunovia filed for the export license following the receipt of a $33 million, 10-year volume purchase agreement from the South Korean customer, which Sunovia announced in April of this year. The newly granted export license will allow Sunovia to immediately begin fulfilling a pending order from its customer in South Korea.
The international market for infrared technology and products continues to grow substantially. MaxTech's Infrared Imaging News, an industry publication, estimates that the 2008 total available market for the infrared industry (night-vision cameras and thermographic equipment) was $5.9 billion with applications beyond military, including security and surveillance (including Homeland Security), automotive, building and maintenance and process control, among others.
The HgCdTe wafers are manufactured by Bolingbrook, IL-based EPIR Technologies, Inc., a world leader in the development and manufacture of infrared products. Sunovia is the exclusive international distributor for all EPIR infrared products. EPIR uses molecular beam epitaxy to produce state-of-the-art single- and multi-element infrared detectors packaged as detector/cooler assemblies, as well as HgCdTe wafers for infrared camera focal plane arrays.
For more information, visit http://www.sunoviaenergy.com/.
About Sunovia Energy Technologies, Inc.
Sunovia Energy Technologies is a Sarasota, FL-based company that commercializes and markets products within the LED lighting and solar markets that reduce carbon emissions promote national security and preserve the environment. Sunovia owns the exclusive marketing rights to products produced by EPIR Technologies, Inc., including infrared sensors and devices for the civilian and military night vision markets.
Sunovia's LED lighting technologies are among the most cost and energy-efficient in the world, and are marketed under the brand name EvoLucia(TM) (http://www.evolucialighting.com/).
Sunovia owns a significant equity interest in Illinois-based EPIR Technologies, Inc., the pioneer of single crystal II-VI solar modules and a global leader in the field of IR sensors and IR imaging. EPIR's collective infrared knowledge and experience is believed to exceed that of any company in the world. Its founder, Chairman and CEO Dr. Sivalingam Sivananthan, is a recognized world leader in HgCdTe growth.
EPIR holds the patent for growing CdTe directly on a Si readout integrated circuit, for which the company developed a manufacturing capability with Congressional support. Sunovia and EPIR co-own the solar technologies and solar products that are developed under the Exclusive Partnership Agreement. The Partners have a network of close collaborative relationships, including the Army Research Laboratory, the National Renewable Energy Laboratory, the Night Vision Electronic Sensors Directorate, BAE Systems, and other laboratories around the world.
More information about the exclusive partnership between Sunovia and EPIR is available in Sunovia's Securities and Exchange filings at http://www.sec.gov/, or at the partners' Web sites, http://www.sunoviaenergy.com/ and http://www.epir.com/.
The Sunovia(TM) logo is a registered service mark of Sunovia Energy Technologies, Inc. in the United States and/or other countries. Sunovia Energy products and services and EvoLucia(TM) products and services are provided by Sunovia Energy Technologies, Inc.
Forward-Looking Statement
Some of the statements made by Sunovia in this press release are forward-looking in nature. Actual results may differ materially from those projected in forward-looking statements. Sunovia believes that its primary risk factors include, but are not limited to: development and maintenance of strategic acquisitions; domestic and international acceptance of our product lines; defending our intellectual property and proprietary rights; development of new products and services that meet customer demands and generate acceptable margins; successfully completing commercial testing of new technologies and systems to support new products and services; and attracting and retaining qualified management and other personnel. Additional information concerning these and other important factors can be found within Sunovia's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors.
Sunovia Energy Technologies, Inc.
CONTACT: Company contact: Craig Hall of Sunovia Energy Technologies, Inc., +1-941-751-6800 Craig.hall@sunoviaenergy.com; or Media contact: Ronald Smith, 888-730-6630, mail@journalistpr.com, for Sunovia
Web Site: http://www.sunoviaenergy.com/ http://www.evolucialighting.com/ http://www.epir.com/
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