Jamba, Inc, (Nasdaq:JMBA) shares were up 4 cents at $1.97 per share on volume of around 500,000 shares after announcing the sale of 25 restaurants in Washington to existing franchisee, Prudence Swann, principal of PB Swann, LLC. The agreement includes a commitment to further expand the Jamba Juice brand by developing two additional stores in the Seattle market.
“With the choices in restaurant franchises available for investment, we are thrilled that PB Swann, one of our existing franchise operators, has chosen to expand her relationship with us. Prudence is a first class operator and her investment speaks to her belief in the strength and growth potential of the Jamba brand,” said Thibault de Chatellus, Senior Vice President, Global Franchise and Development, Jamba Juice Company, in a press release.
"The completion of the sale of 81 restaurants is a huge accomplishment for our Company. Our team has been working hard on this initiative and it’s clearly paying off. We fully expect to have the refranchising initiative completed by the close of 2010," said James D. White, Chairman, President and CEO, Jamba, Inc.
Jamba Juice expects to add up to 50 new domestic franchise locations in 2010. This recent franchise development activity reflects the accelerated growth of the Company and supplements the 287 currently operating franchise stores.
JMBA is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of better-for-you food and beverage offerings, including great tasting fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads, and a variety of baked goods and snacks.
Thursday, July 29, 2010
Jamba Juice (Nasdaq: JMBA): Shares Up Slightly after Announcing New Stores
Jamba, Inc, (Nasdaq:JMBA) shares were up 4 cents at $1.97 per share on volume of around 500,000 shares after announcing the sale of 25 restaurants in Washington to existing franchisee, Prudence Swann, principal of PB Swann, LLC. The agreement includes a commitment to further expand the Jamba Juice brand by developing two additional stores in the Seattle market.
“With the choices in restaurant franchises available for investment, we are thrilled that PB Swann, one of our existing franchise operators, has chosen to expand her relationship with us. Prudence is a first class operator and her investment speaks to her belief in the strength and growth potential of the Jamba brand,” said Thibault de Chatellus, Senior Vice President, Global Franchise and Development, Jamba Juice Company, in a press release.
"The completion of the sale of 81 restaurants is a huge accomplishment for our Company. Our team has been working hard on this initiative and it’s clearly paying off. We fully expect to have the refranchising initiative completed by the close of 2010," said James D. White, Chairman, President and CEO, Jamba, Inc.
Jamba Juice expects to add up to 50 new domestic franchise locations in 2010. This recent franchise development activity reflects the accelerated growth of the Company and supplements the 287 currently operating franchise stores.
JMBA is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of better-for-you food and beverage offerings, including great tasting fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads, and a variety of baked goods and snacks.
“With the choices in restaurant franchises available for investment, we are thrilled that PB Swann, one of our existing franchise operators, has chosen to expand her relationship with us. Prudence is a first class operator and her investment speaks to her belief in the strength and growth potential of the Jamba brand,” said Thibault de Chatellus, Senior Vice President, Global Franchise and Development, Jamba Juice Company, in a press release.
"The completion of the sale of 81 restaurants is a huge accomplishment for our Company. Our team has been working hard on this initiative and it’s clearly paying off. We fully expect to have the refranchising initiative completed by the close of 2010," said James D. White, Chairman, President and CEO, Jamba, Inc.
Jamba Juice expects to add up to 50 new domestic franchise locations in 2010. This recent franchise development activity reflects the accelerated growth of the Company and supplements the 287 currently operating franchise stores.
JMBA is a holding company and through its wholly-owned subsidiary, Jamba Juice Company, owns and franchises JAMBA JUICE stores. Founded in 1990, Jamba Juice is a leading restaurant retailer of better-for-you food and beverage offerings, including great tasting fruit smoothies, juices, and teas, hot oatmeal made with organic steel cut oats, wraps, salads, sandwiches, and California Flatbreads, and a variety of baked goods and snacks.
Five Star Quality Care (Amex: FVE) Blows Away Q2 Estimates: Shares Respond +18%
Five Star Quality Care (Amex: FVE) reported second quarter results today and topped analysts' EPS estimates by $0.12 per share. Five Star reported second quarter EPS of $0.22 on sales of $312 million and shares responded rather nicely, spiking up 18% to $3.52 on heavy volume. Five Star also eliminated some of its debt in the second quarter by purchasing and retiring $7.7 million outstanding Notes for $6.9 million, plus accrued interest, and recorded a $552,000 gain, net of related unamortized costs, on this early extinguishment of debt.
Some financial highlights from the second quarter:
Five Star Quality Care is a senior living and healthcare services company. Five Star owns or leases and operates 213 senior living communities with 22,669 living units located in 30 states. These communities include independent living, assisted living and skilled nursing communities. Five Star also operates five institutional pharmacies and two rehabilitation hospitals.
Some financial highlights from the second quarter:
- Total revenues for the second quarter of 2010 increased 5.7% to $311.9 million from $295.0 million for the same period last year.
- Income from continuing operations for the second quarter of 2010 was $8.2 million compared to $9.3 million for the same period last year.
- Income per share from continuing operations for the second quarter of 2010 was $0.23 and $0.22, basic and diluted, respectively, compared to $0.29 and $0.26, basic and diluted, respectively, for the same period last year. Analysts expected EPS of $0.09.
Five Star Quality Care is a senior living and healthcare services company. Five Star owns or leases and operates 213 senior living communities with 22,669 living units located in 30 states. These communities include independent living, assisted living and skilled nursing communities. Five Star also operates five institutional pharmacies and two rehabilitation hospitals.
Five Star Quality Care (Amex: FVE) Blows Away Q2 Estimates: Shares Respond +18%
Five Star Quality Care (Amex: FVE) reported second quarter results today and topped analysts' EPS estimates by $0.12 per share. Five Star reported second quarter EPS of $0.22 on sales of $312 million and shares responded rather nicely, spiking up 18% to $3.52 on heavy volume. Five Star also eliminated some of its debt in the second quarter by purchasing and retiring $7.7 million outstanding Notes for $6.9 million, plus accrued interest, and recorded a $552,000 gain, net of related unamortized costs, on this early extinguishment of debt.
Some financial highlights from the second quarter:
Five Star Quality Care is a senior living and healthcare services company. Five Star owns or leases and operates 213 senior living communities with 22,669 living units located in 30 states. These communities include independent living, assisted living and skilled nursing communities. Five Star also operates five institutional pharmacies and two rehabilitation hospitals.
Some financial highlights from the second quarter:
- Total revenues for the second quarter of 2010 increased 5.7% to $311.9 million from $295.0 million for the same period last year.
- Income from continuing operations for the second quarter of 2010 was $8.2 million compared to $9.3 million for the same period last year.
- Income per share from continuing operations for the second quarter of 2010 was $0.23 and $0.22, basic and diluted, respectively, compared to $0.29 and $0.26, basic and diluted, respectively, for the same period last year. Analysts expected EPS of $0.09.
Five Star Quality Care is a senior living and healthcare services company. Five Star owns or leases and operates 213 senior living communities with 22,669 living units located in 30 states. These communities include independent living, assisted living and skilled nursing communities. Five Star also operates five institutional pharmacies and two rehabilitation hospitals.
AT Cross Pens (AMEX: ATX): Writing a Positive Script for 2010
A.T. Cross Company (ATX) today announced financial results for the second quarter ended July 3, 2010.
David G. Whalen, President and Chief Executive Officer of A.T. Cross, said, "We were very pleased with our second quarter performance. Our business grew at a double digit rate and our bottom line improved dramatically. The Cross Optical Group powered through its second quarter peak season with both brands generating strong, double digit revenue growth and operating income up significantly. The Cross Accessory Division continued to see top line year-to-date growth in every region of the world. Importantly, due to work done in 2009 to reduce its cost base, the higher Accessory Division revenue resulted in significantly improved operating earnings."
Second Quarter 2010 Results
Consolidated sales for the second quarter of 2010 increased by 11.9% to $41.7 million compared to $37.3 million in the second quarter of 2009. Â The Cross Accessory Division (CAD) recorded revenue of $21.4 million, an increase of 3.0%, compared to last year. Â The Cross Optical segment reported a second quarter sales increase of 23.1% to $20.3 million, compared to last year. Â The Optical Group's revenue growth was driven by growth of both the Costa and Native brands.
Gross margin in the quarter was 57.3% compared to 54.7% in last year's second quarter.
Operating income in the quarter was $3.9 million as compared to $1.5 million in the second quarter of last year.
Net income for the second quarter was $2.7 million, or $0.20 per share, compared to $0.6 million, or $0.04 per share, last year.
Year-To-Date 2010 Results
Consolidated sales for the first six months of 2010 increased by 11.7% to $76.1 million compared to $68.1 million for the same period of 2009. CAD recorded revenue of $42.1 million or 6.5% higher compared to last year while COG's revenue grew 18.9% to $34.0 million from 2009's $28.6 million. Both Costa and Native reported double digit revenue growth.
Gross margin for the six months 2010 was 57.0% or 250 basis points higher than the 2009 six-month period.
Year-to-date operating income was $4.4 million or $5.1 million higher than the six month 2009 operating loss of $0.6 million.
Mr. Whalen continued, "We delivered a very successful first half of 2010. As a result, the Company is increasing its EPS guidance by over 30%. The outlook for A.T. Cross is very favorable. That is why, as announced earlier this month, we initiated the repurchase of 9% of our outstanding shares. In 2009 and the first half of 2010, we continued to invest in our strategies and we are now realizing the benefits of that resolve. We are excited by our position and will work to enhance it as the year moves forward."
Guidance
The Company has raised 2010 earnings per share guidance from $0.34 to $0.45.
New Credit Facility
The Company has agreed with its senior lender to a new three-year credit facility for $40 million at rates favorable to its prior facility.
Stock Repurchase
As announced on July 8, 2010, the Company repurchased 1.25 million shares of its Class A common stock for approximately $5 million. Since December 2009, when the Company acquired 1.5 million shares, a total of 2.75 million of 18% of the outstanding shares have been repurchased for approximately $10.2 million.
David G. Whalen, President and Chief Executive Officer of A.T. Cross, said, "We were very pleased with our second quarter performance. Our business grew at a double digit rate and our bottom line improved dramatically. The Cross Optical Group powered through its second quarter peak season with both brands generating strong, double digit revenue growth and operating income up significantly. The Cross Accessory Division continued to see top line year-to-date growth in every region of the world. Importantly, due to work done in 2009 to reduce its cost base, the higher Accessory Division revenue resulted in significantly improved operating earnings."
Second Quarter 2010 Results
Consolidated sales for the second quarter of 2010 increased by 11.9% to $41.7 million compared to $37.3 million in the second quarter of 2009. Â The Cross Accessory Division (CAD) recorded revenue of $21.4 million, an increase of 3.0%, compared to last year. Â The Cross Optical segment reported a second quarter sales increase of 23.1% to $20.3 million, compared to last year. Â The Optical Group's revenue growth was driven by growth of both the Costa and Native brands.
Gross margin in the quarter was 57.3% compared to 54.7% in last year's second quarter.
Operating income in the quarter was $3.9 million as compared to $1.5 million in the second quarter of last year.
Net income for the second quarter was $2.7 million, or $0.20 per share, compared to $0.6 million, or $0.04 per share, last year.
Year-To-Date 2010 Results
Consolidated sales for the first six months of 2010 increased by 11.7% to $76.1 million compared to $68.1 million for the same period of 2009. CAD recorded revenue of $42.1 million or 6.5% higher compared to last year while COG's revenue grew 18.9% to $34.0 million from 2009's $28.6 million. Both Costa and Native reported double digit revenue growth.
Gross margin for the six months 2010 was 57.0% or 250 basis points higher than the 2009 six-month period.
Year-to-date operating income was $4.4 million or $5.1 million higher than the six month 2009 operating loss of $0.6 million.
Mr. Whalen continued, "We delivered a very successful first half of 2010. As a result, the Company is increasing its EPS guidance by over 30%. The outlook for A.T. Cross is very favorable. That is why, as announced earlier this month, we initiated the repurchase of 9% of our outstanding shares. In 2009 and the first half of 2010, we continued to invest in our strategies and we are now realizing the benefits of that resolve. We are excited by our position and will work to enhance it as the year moves forward."
Guidance
The Company has raised 2010 earnings per share guidance from $0.34 to $0.45.
New Credit Facility
The Company has agreed with its senior lender to a new three-year credit facility for $40 million at rates favorable to its prior facility.
Stock Repurchase
As announced on July 8, 2010, the Company repurchased 1.25 million shares of its Class A common stock for approximately $5 million. Since December 2009, when the Company acquired 1.5 million shares, a total of 2.75 million of 18% of the outstanding shares have been repurchased for approximately $10.2 million.
AT Cross Pens (AMEX:ATX): Writing a Positive Script for 2010
A.T. Cross Company (ATX) today announced financial results for the second quarter ended July 3, 2010.
David G. Whalen, President and Chief Executive Officer of A.T. Cross, said, "We were very pleased with our second quarter performance. Our business grew at a double digit rate and our bottom line improved dramatically. The Cross Optical Group powered through its second quarter peak season with both brands generating strong, double digit revenue growth and operating income up significantly. The Cross Accessory Division continued to see top line year-to-date growth in every region of the world. Importantly, due to work done in 2009 to reduce its cost base, the higher Accessory Division revenue resulted in significantly improved operating earnings."
Second Quarter 2010 Results
Consolidated sales for the second quarter of 2010 increased by 11.9% to $41.7 million compared to $37.3 million in the second quarter of 2009. Â The Cross Accessory Division (CAD) recorded revenue of $21.4 million, an increase of 3.0%, compared to last year. Â The Cross Optical segment reported a second quarter sales increase of 23.1% to $20.3 million, compared to last year. Â The Optical Group's revenue growth was driven by growth of both the Costa and Native brands.
Gross margin in the quarter was 57.3% compared to 54.7% in last year's second quarter.
Operating income in the quarter was $3.9 million as compared to $1.5 million in the second quarter of last year.
Net income for the second quarter was $2.7 million, or $0.20 per share, compared to $0.6 million, or $0.04 per share, last year.
Year-To-Date 2010 Results
Consolidated sales for the first six months of 2010 increased by 11.7% to $76.1 million compared to $68.1 million for the same period of 2009. CAD recorded revenue of $42.1 million or 6.5% higher compared to last year while COG's revenue grew 18.9% to $34.0 million from 2009's $28.6 million. Both Costa and Native reported double digit revenue growth.
Gross margin for the six months 2010 was 57.0% or 250 basis points higher than the 2009 six-month period.
Year-to-date operating income was $4.4 million or $5.1 million higher than the six month 2009 operating loss of $0.6 million.
Mr. Whalen continued, "We delivered a very successful first half of 2010. As a result, the Company is increasing its EPS guidance by over 30%. The outlook for A.T. Cross is very favorable. That is why, as announced earlier this month, we initiated the repurchase of 9% of our outstanding shares. In 2009 and the first half of 2010, we continued to invest in our strategies and we are now realizing the benefits of that resolve. We are excited by our position and will work to enhance it as the year moves forward."
Guidance
The Company has raised 2010 earnings per share guidance from $0.34 to $0.45.
New Credit Facility
The Company has agreed with its senior lender to a new three-year credit facility for $40 million at rates favorable to its prior facility.
Stock Repurchase
As announced on July 8, 2010, the Company repurchased 1.25 million shares of its Class A common stock for approximately $5 million. Since December 2009, when the Company acquired 1.5 million shares, a total of 2.75 million of 18% of the outstanding shares have been repurchased for approximately $10.2 million.
David G. Whalen, President and Chief Executive Officer of A.T. Cross, said, "We were very pleased with our second quarter performance. Our business grew at a double digit rate and our bottom line improved dramatically. The Cross Optical Group powered through its second quarter peak season with both brands generating strong, double digit revenue growth and operating income up significantly. The Cross Accessory Division continued to see top line year-to-date growth in every region of the world. Importantly, due to work done in 2009 to reduce its cost base, the higher Accessory Division revenue resulted in significantly improved operating earnings."
Second Quarter 2010 Results
Consolidated sales for the second quarter of 2010 increased by 11.9% to $41.7 million compared to $37.3 million in the second quarter of 2009. Â The Cross Accessory Division (CAD) recorded revenue of $21.4 million, an increase of 3.0%, compared to last year. Â The Cross Optical segment reported a second quarter sales increase of 23.1% to $20.3 million, compared to last year. Â The Optical Group's revenue growth was driven by growth of both the Costa and Native brands.
Gross margin in the quarter was 57.3% compared to 54.7% in last year's second quarter.
Operating income in the quarter was $3.9 million as compared to $1.5 million in the second quarter of last year.
Net income for the second quarter was $2.7 million, or $0.20 per share, compared to $0.6 million, or $0.04 per share, last year.
Year-To-Date 2010 Results
Consolidated sales for the first six months of 2010 increased by 11.7% to $76.1 million compared to $68.1 million for the same period of 2009. CAD recorded revenue of $42.1 million or 6.5% higher compared to last year while COG's revenue grew 18.9% to $34.0 million from 2009's $28.6 million. Both Costa and Native reported double digit revenue growth.
Gross margin for the six months 2010 was 57.0% or 250 basis points higher than the 2009 six-month period.
Year-to-date operating income was $4.4 million or $5.1 million higher than the six month 2009 operating loss of $0.6 million.
Mr. Whalen continued, "We delivered a very successful first half of 2010. As a result, the Company is increasing its EPS guidance by over 30%. The outlook for A.T. Cross is very favorable. That is why, as announced earlier this month, we initiated the repurchase of 9% of our outstanding shares. In 2009 and the first half of 2010, we continued to invest in our strategies and we are now realizing the benefits of that resolve. We are excited by our position and will work to enhance it as the year moves forward."
Guidance
The Company has raised 2010 earnings per share guidance from $0.34 to $0.45.
New Credit Facility
The Company has agreed with its senior lender to a new three-year credit facility for $40 million at rates favorable to its prior facility.
Stock Repurchase
As announced on July 8, 2010, the Company repurchased 1.25 million shares of its Class A common stock for approximately $5 million. Since December 2009, when the Company acquired 1.5 million shares, a total of 2.75 million of 18% of the outstanding shares have been repurchased for approximately $10.2 million.
4 Pre-Market Trading Thoughts
*Stocks indexes in Asia were little changed on the session. Shanghai gained a half percent, the Hang Seng was unchanged, Australia lost a fraction and the Nikkei fell a half percent. European indexes are generally higher, with the Dax and Footsie both holding gains of a half to three quarters of a percent respectively. US stock futures are up about a half percent .
*The June reading of Japan’s Retail Sales was +0.4% on a month on month basis, matching the estimate.
*The July reading of Germany’s Unemployment Rate was down one tenth from the month before to 7.6%, as expected. The net change in the number of unemployed was -20k, also hitting the forecast on the nose.
*UK house prices fell 0.5% in July from June, according to Nationwide; this was a slightly bigger decline than forecast and the +6.6% year on year house price gain was also below the estimate.
*In June there were 47.6k UK mortgage approvals, according to the Bank of England, a result that was just short of the expectation.
*A Moody’s analyst in a Dow Jones News interview overnight said the US needs to provide a credible plan in coming years to address its rising deficit in order to maintain its Aaa rating.
*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 460k.
*The weekly report on inventories of Natural Gas is due out at 9:30am CDT, it is forecast to show an increase of 34 bcf.
*The Treasury plans to sell $29 billion 7 Year Notes today, the results will be announced just after noon CDT.
*Dallas Fed boss Fisher is scheduled to talk about the economy at 12:20pm CDT.
*The June reading of Japan’s Retail Sales was +0.4% on a month on month basis, matching the estimate.
*The July reading of Germany’s Unemployment Rate was down one tenth from the month before to 7.6%, as expected. The net change in the number of unemployed was -20k, also hitting the forecast on the nose.
*UK house prices fell 0.5% in July from June, according to Nationwide; this was a slightly bigger decline than forecast and the +6.6% year on year house price gain was also below the estimate.
*In June there were 47.6k UK mortgage approvals, according to the Bank of England, a result that was just short of the expectation.
*A Moody’s analyst in a Dow Jones News interview overnight said the US needs to provide a credible plan in coming years to address its rising deficit in order to maintain its Aaa rating.
*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 460k.
*The weekly report on inventories of Natural Gas is due out at 9:30am CDT, it is forecast to show an increase of 34 bcf.
*The Treasury plans to sell $29 billion 7 Year Notes today, the results will be announced just after noon CDT.
*Dallas Fed boss Fisher is scheduled to talk about the economy at 12:20pm CDT.
Wednesday, July 28, 2010
Alternative Energy Buffet: Dynamic Worldwide Solar Energy and Daystar Technologies (Nasdaq: DSTI) Possible Merger/Acquisition
Shares of Daystar Technologies (Nasdaq: DSTI) closed up today on very heavy volume. DSTI was up 20% at $2.57 per share on volume of 1.7 million shares on no news. Smells like a merger/acquisition too me, especially after their CEO mentioned those magic words in a press release last week. I left a voice-mail for the CEO Magnus Ryde a few minutes ago, so stay tuned for a followup article when we get the facts from the horse's mouth.
Daystar a development stage company, engages in the development, manufacture, and marketing of solar photovoltaic products to the grid-tied and ground-based photovoltaic markets.
In the press release, DSTI announced that it is pursuing a strategy for offshore manufacturing of its CIGS solar modules.
DayStar CEO, Magnus Ryde, commented, "While DayStar has accomplished significant innovations with our CIGS process and technology, we have encountered challenges in obtaining affordable capital for the build-out and operation of our facility in Newark, California. At this time, we are pursuing opportunities to manufacture our CIGS modules offshore and have begun discussions with several potential partners to implement this strategy. We are encouraged by the high caliber of the potential partners we are in discussions with. They understand the commercial potential for our CIGS modules and they bring substantial manufacturing and financial capabilities to the table. Those potential partnerships, if consummated, could include joint ventures, licensing agreements, contract manufacturing agreements, a reverse merger with or an acquisition of DayStar. We are confident in our core proprietary CIGS technology and believe that completing a transaction with a strategic partner and manufacturing our CIGS modules offshore would provide the best opportunity to bring our product to market and to manufacture the product in the most cost effective manner."
Mr. Ryde added, "In addition to the potential partnership discussions mentioned above, we disclosed on May 3, 2010 that DayStar entered into an agreement with Dynamic Worldwide Solar Energy LLC to provide DayStar with a series of loan commitments and at least one fully funded 25MW solar energy project. Under the terms of that agreement, Dynamic has proposed to assign to DayStar its interest in a fully financed contract to fabricate, construct and install, and commence the operation of, a 25 MW solar energy generation plant. We are actively working with Dynamic on these projects. If consummated, these projects will add a new 'downstream' dimension to DayStar and allow us to become a fully integrated solar energy company. DayStar's acceptance of the assignments is subject to applicable due diligence."
Daystar also disclosed in an 8-K that it was notified by its landlord, BMR-Gateway Boulevard LLC that the Company's lease for the premises located at 7333-7373 Gateway Boulevard in Newark, California has been terminated.
Daystar a development stage company, engages in the development, manufacture, and marketing of solar photovoltaic products to the grid-tied and ground-based photovoltaic markets.
In the press release, DSTI announced that it is pursuing a strategy for offshore manufacturing of its CIGS solar modules.
DayStar CEO, Magnus Ryde, commented, "While DayStar has accomplished significant innovations with our CIGS process and technology, we have encountered challenges in obtaining affordable capital for the build-out and operation of our facility in Newark, California. At this time, we are pursuing opportunities to manufacture our CIGS modules offshore and have begun discussions with several potential partners to implement this strategy. We are encouraged by the high caliber of the potential partners we are in discussions with. They understand the commercial potential for our CIGS modules and they bring substantial manufacturing and financial capabilities to the table. Those potential partnerships, if consummated, could include joint ventures, licensing agreements, contract manufacturing agreements, a reverse merger with or an acquisition of DayStar. We are confident in our core proprietary CIGS technology and believe that completing a transaction with a strategic partner and manufacturing our CIGS modules offshore would provide the best opportunity to bring our product to market and to manufacture the product in the most cost effective manner."
Mr. Ryde added, "In addition to the potential partnership discussions mentioned above, we disclosed on May 3, 2010 that DayStar entered into an agreement with Dynamic Worldwide Solar Energy LLC to provide DayStar with a series of loan commitments and at least one fully funded 25MW solar energy project. Under the terms of that agreement, Dynamic has proposed to assign to DayStar its interest in a fully financed contract to fabricate, construct and install, and commence the operation of, a 25 MW solar energy generation plant. We are actively working with Dynamic on these projects. If consummated, these projects will add a new 'downstream' dimension to DayStar and allow us to become a fully integrated solar energy company. DayStar's acceptance of the assignments is subject to applicable due diligence."
Daystar also disclosed in an 8-K that it was notified by its landlord, BMR-Gateway Boulevard LLC that the Company's lease for the premises located at 7333-7373 Gateway Boulevard in Newark, California has been terminated.
CopSync (OTCBB: COYN): 8 More Sign Up's
(OTCBB: COYN ), a software technology provider to law enforcement and emergency service professionals, announces today that eight additional Texas law enforcement agencies have implemented the Company's COPsync(TM) real-time mobile data information sharing software.
The following four Texas law enforcement agencies are the latest to receive federal funding under the Recovery Act - Edward Byrne Memorial Justice Assistance Grant (JAG) Program to implement the COPsync(TM) law enforcement information sharing technology: Bee County Sheriff's Office, Culberson County Sheriff's Office, Jim Hogg County Sheriff's Office and Zavala County Sheriff's Office. The City of Bullard Police Department, The City of Hawley Police Department, The City of Wells Police Department and The West Central Texas Inter-local Crime Task Force, all located in Texas, will self-fund the implementation of COPsync(TM) in their patrol vehicles.
The COPsync technology will bring these Agencies into compliance with federal mandates established by the U.S. Department of Justice and the U.S. Department of Homeland Security with respect to interoperability and information sharing. Any law enforcement officer on the COPsync network is immediately alerted if an individual with whom that officer is in contact has been determined to be a safety threat, has an active warrant for their arrest, is listed as a runaway or otherwise flagged in the system to be a person of interest. Officers on this network will now have direct access to criminal, incident and offense data obtained by any Agency using the network. This information allows law enforcement officers to prepare and respond intelligently to a potential threat and approach situations that arise with a proactive approach in lieu of always working in a reactive mode.
"We are excited to see Agencies continue to receive federal grant funding to enable data information sharing. The addition of eight new police departments significantly increases the reach and value of our network, which has recently been implemented by its 100th agency. COPsync(TM) is the only existing real-time mobile software that allows all subscribing police departments, sheriff's offices and other law enforcement agencies to share critical information in real-time at the point of incident, which will reduce crime rates, increase officer efficiency, enable real-time mutual aid to stop criminal activity in progress and aid in solving open or pending cases," commented Russell Chaney, CEO of COPsync, Inc.
The following four Texas law enforcement agencies are the latest to receive federal funding under the Recovery Act - Edward Byrne Memorial Justice Assistance Grant (JAG) Program to implement the COPsync(TM) law enforcement information sharing technology: Bee County Sheriff's Office, Culberson County Sheriff's Office, Jim Hogg County Sheriff's Office and Zavala County Sheriff's Office. The City of Bullard Police Department, The City of Hawley Police Department, The City of Wells Police Department and The West Central Texas Inter-local Crime Task Force, all located in Texas, will self-fund the implementation of COPsync(TM) in their patrol vehicles.
The COPsync technology will bring these Agencies into compliance with federal mandates established by the U.S. Department of Justice and the U.S. Department of Homeland Security with respect to interoperability and information sharing. Any law enforcement officer on the COPsync network is immediately alerted if an individual with whom that officer is in contact has been determined to be a safety threat, has an active warrant for their arrest, is listed as a runaway or otherwise flagged in the system to be a person of interest. Officers on this network will now have direct access to criminal, incident and offense data obtained by any Agency using the network. This information allows law enforcement officers to prepare and respond intelligently to a potential threat and approach situations that arise with a proactive approach in lieu of always working in a reactive mode.
"We are excited to see Agencies continue to receive federal grant funding to enable data information sharing. The addition of eight new police departments significantly increases the reach and value of our network, which has recently been implemented by its 100th agency. COPsync(TM) is the only existing real-time mobile software that allows all subscribing police departments, sheriff's offices and other law enforcement agencies to share critical information in real-time at the point of incident, which will reduce crime rates, increase officer efficiency, enable real-time mutual aid to stop criminal activity in progress and aid in solving open or pending cases," commented Russell Chaney, CEO of COPsync, Inc.
CopSync (OTCBB:COYN): 8 More Sign Up's
(OTCBB:COYN ), a software technology provider to law enforcement and emergency service professionals, announces today that eight additional Texas law enforcement agencies have implemented the Company's COPsync(TM) real-time mobile data information sharing software.
The following four Texas law enforcement agencies are the latest to receive federal funding under the Recovery Act - Edward Byrne Memorial Justice Assistance Grant (JAG) Program to implement the COPsync(TM) law enforcement information sharing technology: Bee County Sheriff's Office, Culberson County Sheriff's Office, Jim Hogg County Sheriff's Office and Zavala County Sheriff's Office. The City of Bullard Police Department, The City of Hawley Police Department, The City of Wells Police Department and The West Central Texas Inter-local Crime Task Force, all located in Texas, will self-fund the implementation of COPsync(TM) in their patrol vehicles.
The COPsync technology will bring these Agencies into compliance with federal mandates established by the U.S. Department of Justice and the U.S. Department of Homeland Security with respect to interoperability and information sharing. Any law enforcement officer on the COPsync network is immediately alerted if an individual with whom that officer is in contact has been determined to be a safety threat, has an active warrant for their arrest, is listed as a runaway or otherwise flagged in the system to be a person of interest. Officers on this network will now have direct access to criminal, incident and offense data obtained by any Agency using the network. This information allows law enforcement officers to prepare and respond intelligently to a potential threat and approach situations that arise with a proactive approach in lieu of always working in a reactive mode.
"We are excited to see Agencies continue to receive federal grant funding to enable data information sharing. The addition of eight new police departments significantly increases the reach and value of our network, which has recently been implemented by its 100th agency. COPsync(TM) is the only existing real-time mobile software that allows all subscribing police departments, sheriff's offices and other law enforcement agencies to share critical information in real-time at the point of incident, which will reduce crime rates, increase officer efficiency, enable real-time mutual aid to stop criminal activity in progress and aid in solving open or pending cases," commented Russell Chaney, CEO of COPsync, Inc.
The following four Texas law enforcement agencies are the latest to receive federal funding under the Recovery Act - Edward Byrne Memorial Justice Assistance Grant (JAG) Program to implement the COPsync(TM) law enforcement information sharing technology: Bee County Sheriff's Office, Culberson County Sheriff's Office, Jim Hogg County Sheriff's Office and Zavala County Sheriff's Office. The City of Bullard Police Department, The City of Hawley Police Department, The City of Wells Police Department and The West Central Texas Inter-local Crime Task Force, all located in Texas, will self-fund the implementation of COPsync(TM) in their patrol vehicles.
The COPsync technology will bring these Agencies into compliance with federal mandates established by the U.S. Department of Justice and the U.S. Department of Homeland Security with respect to interoperability and information sharing. Any law enforcement officer on the COPsync network is immediately alerted if an individual with whom that officer is in contact has been determined to be a safety threat, has an active warrant for their arrest, is listed as a runaway or otherwise flagged in the system to be a person of interest. Officers on this network will now have direct access to criminal, incident and offense data obtained by any Agency using the network. This information allows law enforcement officers to prepare and respond intelligently to a potential threat and approach situations that arise with a proactive approach in lieu of always working in a reactive mode.
"We are excited to see Agencies continue to receive federal grant funding to enable data information sharing. The addition of eight new police departments significantly increases the reach and value of our network, which has recently been implemented by its 100th agency. COPsync(TM) is the only existing real-time mobile software that allows all subscribing police departments, sheriff's offices and other law enforcement agencies to share critical information in real-time at the point of incident, which will reduce crime rates, increase officer efficiency, enable real-time mutual aid to stop criminal activity in progress and aid in solving open or pending cases," commented Russell Chaney, CEO of COPsync, Inc.
Rocky Brands (Nasdaq: RCKY) Up after Posting Second Quarter Profit
After posting second quarter results yesterday, Rocky Brands (Nasdaq: RCKY) shares were up 9% to $8.00 on heavy volume. Posting profits and blowing away analysts estimates tend to have a positive effect on companies' share price. Analysts actually projected a loss of ($0.10) per share, where RCKY posted a profit of $0.08 per share.
For the second quarter of 2010, net sales increased 7.9% to $55.2 million versus net sales of $51.2 million in the second quarter of 2009. The Company reported net income of $0.5 million, or $0.08 per diluted share versus a net loss of $1.4 million, or ($0.25) per diluted share a year ago.
Excluding one-time charges of $0.6 million, net of tax, associated with the early repayment of a portion of the Company’s senior term loan, second quarter 2010 net income improved to $1.1 million, or $0.17 per diluted share.
Mike Brooks, Chairman and Chief Executive Officer, commented in a press release, “There were several highlights from the second quarter, most notably the dramatic improvement in our bottom line. We paid off the majority of our high interest, senior term loan using proceeds from our successful equity offering and availability under our existing credit facility. We are very pleased with the progress we have made towards building a more efficient organization and we look forward to taking advantage of our improved position to better capitalize on the growth opportunities that are ahead.”
Rocky Brands is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot, Durango, Lehigh, and the licensed brands Dickies, Michelin and Mossy Oak.
For the second quarter of 2010, net sales increased 7.9% to $55.2 million versus net sales of $51.2 million in the second quarter of 2009. The Company reported net income of $0.5 million, or $0.08 per diluted share versus a net loss of $1.4 million, or ($0.25) per diluted share a year ago.
Excluding one-time charges of $0.6 million, net of tax, associated with the early repayment of a portion of the Company’s senior term loan, second quarter 2010 net income improved to $1.1 million, or $0.17 per diluted share.
Mike Brooks, Chairman and Chief Executive Officer, commented in a press release, “There were several highlights from the second quarter, most notably the dramatic improvement in our bottom line. We paid off the majority of our high interest, senior term loan using proceeds from our successful equity offering and availability under our existing credit facility. We are very pleased with the progress we have made towards building a more efficient organization and we look forward to taking advantage of our improved position to better capitalize on the growth opportunities that are ahead.”
Rocky Brands is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot, Durango, Lehigh, and the licensed brands Dickies, Michelin and Mossy Oak.
Rocky Brands (Nasdaq: RCKY) Up after Posting Second Quarter Profit
After posting second quarter results yesterday, Rocky Brands (Nasdaq: RCKY) shares were up 9% to $8.00 on heavy volume. Posting profits and blowing away analysts estimates tend to have a positive effect on companies' share price. Analysts actually projected a loss of ($0.10) per share, where RCKY posted a profit of $0.08 per share.
For the second quarter of 2010, net sales increased 7.9% to $55.2 million versus net sales of $51.2 million in the second quarter of 2009. The Company reported net income of $0.5 million, or $0.08 per diluted share versus a net loss of $1.4 million, or ($0.25) per diluted share a year ago.
Excluding one-time charges of $0.6 million, net of tax, associated with the early repayment of a portion of the Company’s senior term loan, second quarter 2010 net income improved to $1.1 million, or $0.17 per diluted share.
Mike Brooks, Chairman and Chief Executive Officer, commented in a press release, “There were several highlights from the second quarter, most notably the dramatic improvement in our bottom line. We paid off the majority of our high interest, senior term loan using proceeds from our successful equity offering and availability under our existing credit facility. We are very pleased with the progress we have made towards building a more efficient organization and we look forward to taking advantage of our improved position to better capitalize on the growth opportunities that are ahead.”
Rocky Brands is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot, Durango, Lehigh, and the licensed brands Dickies, Michelin and Mossy Oak.
For the second quarter of 2010, net sales increased 7.9% to $55.2 million versus net sales of $51.2 million in the second quarter of 2009. The Company reported net income of $0.5 million, or $0.08 per diluted share versus a net loss of $1.4 million, or ($0.25) per diluted share a year ago.
Excluding one-time charges of $0.6 million, net of tax, associated with the early repayment of a portion of the Company’s senior term loan, second quarter 2010 net income improved to $1.1 million, or $0.17 per diluted share.
Mike Brooks, Chairman and Chief Executive Officer, commented in a press release, “There were several highlights from the second quarter, most notably the dramatic improvement in our bottom line. We paid off the majority of our high interest, senior term loan using proceeds from our successful equity offering and availability under our existing credit facility. We are very pleased with the progress we have made towards building a more efficient organization and we look forward to taking advantage of our improved position to better capitalize on the growth opportunities that are ahead.”
Rocky Brands is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky, Georgia Boot, Durango, Lehigh, and the licensed brands Dickies, Michelin and Mossy Oak.
3 Things you need to know before Trading Today
Stocks were broadly higher in Asian trade. The Nikkei led the way with a gain of 2.7%, Shanghai also added more than two percent and the Hang Seng and Australia were up 0.5% and 0.7% respectively. European indexes are mixed but both the Dax and Footsie are currently lower by about 0.4%. US stock futures are essentially unchanged as I write.
*The Q2 reading of Australian Consumer Prices was surprisingly light, a gain of 0.6% on a quarter on quarter basis versus the expectation of +1.0%. Consumer prices on a year over year basis were also less than forecast at +3.1%. The Aussie fell a bit on the news as traders rethought the future path of the RBA monetary policy; no move is expected from the central bank when they meet next week and some are taking them off the board for the rest of the year.
*German states are this morning releasing the July reading of their Consumer Price Index, some of the results include: Saxony, +0.2 on a month over month basis and +1.2% year on year; Hesse, +0.3% and +0.9%; Brandenburg +0.3% and +1.1%; and Bavaria +0.3% and +1.2%. The national CPI, EU Harmonized, is due out later this morning, it is expected to be +0.2% on a month on month basis and is forecast to be +1.1% on a year over year basis.
*US mortgage applications fell 4.4% in the week ended July 23, according to the Mortgage Bankers Association, but the purchase component was up 2.0%, the second week in a row this has shown a gain.
*The June reading of Durable Goods Orders are due to be released at 7:30am CDT. Headline Orders are expected to rise 1.0% on a monthly basis and the estimate for Order ex-transportation is +0.4%.
*The weekly report on energy inventories is due out at 9:30am CDT. Stocks of Crude Oil are forecast to fall 1.725 million barrels, inventories of Gasoline are expected to rise 275k and the estimate for Distillates is +2.0 million.
*The Treasury plans to sell $37 billion 5 Year Notes today, the results will be announced just after noon CDT.
*The Fed’s Beige Book, the anecdotal economic report prepared for use at the upcoming FOMC meeting, is due to be released at 1:00pm CDT.
*The Senate Banking Committee is expected to vote at about 1:30pm CDT on the nominations of Janet Yellen, Peter Diamond and Sarah Bloom Raskin for position on the Fed Board of Governors, including Yellen as vice chairman.
*The Q2 reading of Australian Consumer Prices was surprisingly light, a gain of 0.6% on a quarter on quarter basis versus the expectation of +1.0%. Consumer prices on a year over year basis were also less than forecast at +3.1%. The Aussie fell a bit on the news as traders rethought the future path of the RBA monetary policy; no move is expected from the central bank when they meet next week and some are taking them off the board for the rest of the year.
*German states are this morning releasing the July reading of their Consumer Price Index, some of the results include: Saxony, +0.2 on a month over month basis and +1.2% year on year; Hesse, +0.3% and +0.9%; Brandenburg +0.3% and +1.1%; and Bavaria +0.3% and +1.2%. The national CPI, EU Harmonized, is due out later this morning, it is expected to be +0.2% on a month on month basis and is forecast to be +1.1% on a year over year basis.
*US mortgage applications fell 4.4% in the week ended July 23, according to the Mortgage Bankers Association, but the purchase component was up 2.0%, the second week in a row this has shown a gain.
*The June reading of Durable Goods Orders are due to be released at 7:30am CDT. Headline Orders are expected to rise 1.0% on a monthly basis and the estimate for Order ex-transportation is +0.4%.
*The weekly report on energy inventories is due out at 9:30am CDT. Stocks of Crude Oil are forecast to fall 1.725 million barrels, inventories of Gasoline are expected to rise 275k and the estimate for Distillates is +2.0 million.
*The Treasury plans to sell $37 billion 5 Year Notes today, the results will be announced just after noon CDT.
*The Fed’s Beige Book, the anecdotal economic report prepared for use at the upcoming FOMC meeting, is due to be released at 1:00pm CDT.
*The Senate Banking Committee is expected to vote at about 1:30pm CDT on the nominations of Janet Yellen, Peter Diamond and Sarah Bloom Raskin for position on the Fed Board of Governors, including Yellen as vice chairman.
Tuesday, July 27, 2010
Radio One (NASDAQ:ROIAK): Stock + 22% on Good Volume
Radio One has some good volume and a buyer in the stock this morning, I am digging around a there is little news here. We have covered ROIAK as part of our WMM Index for 2010 and notice it is lifting our MicroCap Index.
Radio One, operates as an urban-oriented multi-media company in the United States. It principally engages in the radio broadcasting operation that primarily targets African-American and urban listeners
Radio One, operates as an urban-oriented multi-media company in the United States. It principally engages in the radio broadcasting operation that primarily targets African-American and urban listeners
Monday, July 26, 2010
Industrial Services of American (Nasdaq: IDSA) Hits New 52-week High on Updated Guidance
-Industrial Services of America (Nasdaq: IDSA) announced updated financial guidance for the second quarter ending June 30, 2010.
For the second quarter ending June 30, 2010, ISA expects earnings to be in the range of $.33 to $.38 per basic and diluted share on revenues in the range of $91 - $95 million. That compares with second quarter 2009 earnings of $.17 per share (split-adjusted) on revenues of $39.1 million. Sales guidance for the quarter ending June 30, 2010 will exceed the high end of our previous guidance. This was due to a stronger than expected final week of the quarter.
Harry Kletter, CEO and founder of ISA states, "We have been very successful in our business expansion during the past two years and we will continue to look for new opportunities. While some economic indicators are suggesting a moderate slowdown in the economic recovery, we believe that the long term prognosis is still very promising."
The recently announced specialty alloys division is now fully operational in its 150,000-square foot building which is on adjoining property to the stainless and non-ferrous operations.
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste.
For the second quarter ending June 30, 2010, ISA expects earnings to be in the range of $.33 to $.38 per basic and diluted share on revenues in the range of $91 - $95 million. That compares with second quarter 2009 earnings of $.17 per share (split-adjusted) on revenues of $39.1 million. Sales guidance for the quarter ending June 30, 2010 will exceed the high end of our previous guidance. This was due to a stronger than expected final week of the quarter.
Harry Kletter, CEO and founder of ISA states, "We have been very successful in our business expansion during the past two years and we will continue to look for new opportunities. While some economic indicators are suggesting a moderate slowdown in the economic recovery, we believe that the long term prognosis is still very promising."
The recently announced specialty alloys division is now fully operational in its 150,000-square foot building which is on adjoining property to the stainless and non-ferrous operations.
Headquartered in Louisville, Kentucky, Industrial Services of America, Inc., is a publicly traded company whose core business is buying, processing and marketing scrap metals and recyclable materials for domestic users and export markets. Additionally, ISA offers commercial, industrial and business customers a variety of programs and equipment to efficiently manage waste.
Cal-Maine Foods (Nasdaq: CALM) Drops Golden Egg as Earnings Beat Street and Shares Rise
Looks like Mississippi is at the forefront of the "Egg" sector after local company Cal-Maine Foods (Nasdaq: CALM) released their fourth quarter and yearly results this morning beating EPS estimates for both Q4 and year end results. CALM reported Q4 EPS of $0.88 per share and FY10 EPS of $2.85 per share, blowing away estimates of $0.64 per share and $2.61 per share in Q4 and FY10, respectively. In afternoon trading, shares of CALM were up more than 11% at $32.99 per share on heavy volume.
For the fourth quarter of fiscal 2010, net sales were $222.1 million compared with net sales of $213.6 million for the fourth quarter a year ago. The Company reported net earnings of $21.0 million, or $0.88 per basic share, for the fourth quarter of fiscal 2010 compared with net earnings of $10.3 million, or $0.43 per basic share, for the same period last year.
For the fiscal year 2010, net sales were $910.1 million compared with net sales of $928.8 million for fiscal 2009. The Company reported net income of $67.8 million, or $2.85 per basic share, for fiscal 2010 compared with net income of $79.5 million, or $3.34 per basic share, in fiscal 2009.
In a press release, Fred Adams, Jr., chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “We are pleased with the results of the fourth quarter of fiscal 2010. Both our sales and earnings showed improvement over the fourth quarter a year ago. We benefited from favorable market conditions as egg supply and demand were well balanced, and average selling prices were higher than the prior year period. Our retail sales were good, and we were pleased with the modest improvement in our food service and restaurant egg sales. Egg product sales were in line with our projections. Our feed costs were also lower during the fourth quarter and the year, compared with the same periods in fiscal 2009. Overall, our management team did a good job, and all of Cal-Maine’s operations ran smoothly.
“Looking ahead, we project that fiscal 2011 will be a good year for Cal-Maine Foods; however, we expect feed costs will be relatively high and volatile,” Adams added.
For the fourth quarter of fiscal 2010, Cal-Maine will pay a cash dividend of approximately $0.29 per share to holders of its common and Class A common stock. The amount paid could vary slightly based on the amount of outstanding shares on the record date. The dividend is payable August 22, 2010, to shareholders of record on August 7, 2010.
Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs. The Company, which is headquartered in Jackson, Mississippi, currently is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in approximately 29 states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.
For the fourth quarter of fiscal 2010, net sales were $222.1 million compared with net sales of $213.6 million for the fourth quarter a year ago. The Company reported net earnings of $21.0 million, or $0.88 per basic share, for the fourth quarter of fiscal 2010 compared with net earnings of $10.3 million, or $0.43 per basic share, for the same period last year.
For the fiscal year 2010, net sales were $910.1 million compared with net sales of $928.8 million for fiscal 2009. The Company reported net income of $67.8 million, or $2.85 per basic share, for fiscal 2010 compared with net income of $79.5 million, or $3.34 per basic share, in fiscal 2009.
In a press release, Fred Adams, Jr., chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “We are pleased with the results of the fourth quarter of fiscal 2010. Both our sales and earnings showed improvement over the fourth quarter a year ago. We benefited from favorable market conditions as egg supply and demand were well balanced, and average selling prices were higher than the prior year period. Our retail sales were good, and we were pleased with the modest improvement in our food service and restaurant egg sales. Egg product sales were in line with our projections. Our feed costs were also lower during the fourth quarter and the year, compared with the same periods in fiscal 2009. Overall, our management team did a good job, and all of Cal-Maine’s operations ran smoothly.
“Looking ahead, we project that fiscal 2011 will be a good year for Cal-Maine Foods; however, we expect feed costs will be relatively high and volatile,” Adams added.
For the fourth quarter of fiscal 2010, Cal-Maine will pay a cash dividend of approximately $0.29 per share to holders of its common and Class A common stock. The amount paid could vary slightly based on the amount of outstanding shares on the record date. The dividend is payable August 22, 2010, to shareholders of record on August 7, 2010.
Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs. The Company, which is headquartered in Jackson, Mississippi, currently is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in approximately 29 states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.
Cal-Maine Foods (Nasdaq: CALM) Drops Golden Egg as Earning Beat Street and Shares Rise
Looks like Mississippi is at the forefront of the "Egg" sector after local company Cal-Maine Foods (Nasdaq: CALM) released their fourth quarter and yearly results this morning beating EPS estimates for both Q4 and year end results. CALM reported Q4 EPS of $0.88 per share and FY10 EPS of $2.85 per share, blowing away estimates of $0.64 per share and $2.61 per share in Q4 and FY10, respectively. In afternoon trading, shares of CALM were up more than 11% at $32.99 per share on heavy volume.
For the fourth quarter of fiscal 2010, net sales were $222.1 million compared with net sales of $213.6 million for the fourth quarter a year ago. The Company reported net earnings of $21.0 million, or $0.88 per basic share, for the fourth quarter of fiscal 2010 compared with net earnings of $10.3 million, or $0.43 per basic share, for the same period last year.
For the fiscal year 2010, net sales were $910.1 million compared with net sales of $928.8 million for fiscal 2009. The Company reported net income of $67.8 million, or $2.85 per basic share, for fiscal 2010 compared with net income of $79.5 million, or $3.34 per basic share, in fiscal 2009.
In a press release, Fred Adams, Jr., chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “We are pleased with the results of the fourth quarter of fiscal 2010. Both our sales and earnings showed improvement over the fourth quarter a year ago. We benefited from favorable market conditions as egg supply and demand were well balanced, and average selling prices were higher than the prior year period. Our retail sales were good, and we were pleased with the modest improvement in our food service and restaurant egg sales. Egg product sales were in line with our projections. Our feed costs were also lower during the fourth quarter and the year, compared with the same periods in fiscal 2009. Overall, our management team did a good job, and all of Cal-Maine’s operations ran smoothly.
“Looking ahead, we project that fiscal 2011 will be a good year for Cal-Maine Foods; however, we expect feed costs will be relatively high and volatile,” Adams added.
For the fourth quarter of fiscal 2010, Cal-Maine will pay a cash dividend of approximately $0.29 per share to holders of its common and Class A common stock. The amount paid could vary slightly based on the amount of outstanding shares on the record date. The dividend is payable August 22, 2010, to shareholders of record on August 7, 2010.
Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs. The Company, which is headquartered in Jackson, Mississippi, currently is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in approximately 29 states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.
For the fourth quarter of fiscal 2010, net sales were $222.1 million compared with net sales of $213.6 million for the fourth quarter a year ago. The Company reported net earnings of $21.0 million, or $0.88 per basic share, for the fourth quarter of fiscal 2010 compared with net earnings of $10.3 million, or $0.43 per basic share, for the same period last year.
For the fiscal year 2010, net sales were $910.1 million compared with net sales of $928.8 million for fiscal 2009. The Company reported net income of $67.8 million, or $2.85 per basic share, for fiscal 2010 compared with net income of $79.5 million, or $3.34 per basic share, in fiscal 2009.
In a press release, Fred Adams, Jr., chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “We are pleased with the results of the fourth quarter of fiscal 2010. Both our sales and earnings showed improvement over the fourth quarter a year ago. We benefited from favorable market conditions as egg supply and demand were well balanced, and average selling prices were higher than the prior year period. Our retail sales were good, and we were pleased with the modest improvement in our food service and restaurant egg sales. Egg product sales were in line with our projections. Our feed costs were also lower during the fourth quarter and the year, compared with the same periods in fiscal 2009. Overall, our management team did a good job, and all of Cal-Maine’s operations ran smoothly.
“Looking ahead, we project that fiscal 2011 will be a good year for Cal-Maine Foods; however, we expect feed costs will be relatively high and volatile,” Adams added.
For the fourth quarter of fiscal 2010, Cal-Maine will pay a cash dividend of approximately $0.29 per share to holders of its common and Class A common stock. The amount paid could vary slightly based on the amount of outstanding shares on the record date. The dividend is payable August 22, 2010, to shareholders of record on August 7, 2010.
Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs. The Company, which is headquartered in Jackson, Mississippi, currently is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in approximately 29 states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.
Jones Soda (Nasdaq: JSDA) Jumps more than 10% in Early Trading (story developing)
In early trading today, a couple of the players in the specialty beverage industry got off to a good start. Jones Soda Co. (Nasdaq: JSDA) was up more than 10% and one of their main competitors Reeds, Inc. (Nasdaq: REED) was up more than 5%. This story is developing and I've covered this industry for several years so, more details and information to come later in the day.
Jones Soda (Nasdaq: JSDA) Jumps more than 10% in Early Trading (story developing)
In early trading today, a couple of the players in the specialty beverage industry got off to a good start. Jones Soda Co. (Nasdaq: JSDA) was up more than 10% and one of their main competitors Reeds, Inc. (Nasdaq: REED) was up more than 5%. This story is developing and I've covered this industry for several years so, more details and information to come later in the day.
Astrotech (Nasdaq: ASTC): T. Boone Pickens Teams with NASA +42%
Astrotech (Nasdaq:ASTC ), a leading provider of commercial aerospace services, today announced that NASA awarded its Astrotech Space Operations business unit a new contract for payload processing services for expendable launch vehicles (ELVs) and evolved expendable launch vehicles (EELVs) from Cape Canaveral Air Force Station (CCAFS) at the Eastern Range in Florida.
"We look forward to continuing our relationship with NASA in support of missions at the Eastern Range," stated Astrotech Chairman and Chief Executive Officer Thomas B. Pickens III. "We are proud of our capabilities and facilities, and look forward to providing NASA with a full complement of processing and facility services."
With a value not to exceed $9.5 million, this indefinite-delivery, indefinite-quantity (IDIQ) contract is for payload processing support on several upcoming NASA spacecraft missions. The contract stipulates that the multi-mission contract services are targeted to begin in fiscal year 2011 running through 2013.
From Titusville, Florida, Vandenberg Air Force Base, California and the Sea Launch Home Port facilities in Long Beach, California, Astrotech Space Operations provides all support necessary for government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, and transport. In its 25 year history, Astrotech has supported the processing of more than 280 spacecraft without impacting a customer's launch schedule.
"We look forward to continuing our relationship with NASA in support of missions at the Eastern Range," stated Astrotech Chairman and Chief Executive Officer Thomas B. Pickens III. "We are proud of our capabilities and facilities, and look forward to providing NASA with a full complement of processing and facility services."
With a value not to exceed $9.5 million, this indefinite-delivery, indefinite-quantity (IDIQ) contract is for payload processing support on several upcoming NASA spacecraft missions. The contract stipulates that the multi-mission contract services are targeted to begin in fiscal year 2011 running through 2013.
From Titusville, Florida, Vandenberg Air Force Base, California and the Sea Launch Home Port facilities in Long Beach, California, Astrotech Space Operations provides all support necessary for government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, and transport. In its 25 year history, Astrotech has supported the processing of more than 280 spacecraft without impacting a customer's launch schedule.
Astrotech (Nasdaq:ASTC ): T. Boone Pickens Teams with NASA +42%
Astrotech (Nasdaq:ASTC ), a leading provider of commercial aerospace services, today announced that NASA awarded its Astrotech Space Operations business unit a new contract for payload processing services for expendable launch vehicles (ELVs) and evolved expendable launch vehicles (EELVs) from Cape Canaveral Air Force Station (CCAFS) at the Eastern Range in Florida.
"We look forward to continuing our relationship with NASA in support of missions at the Eastern Range," stated Astrotech Chairman and Chief Executive Officer Thomas B. Pickens III. "We are proud of our capabilities and facilities, and look forward to providing NASA with a full complement of processing and facility services."
With a value not to exceed $9.5 million, this indefinite-delivery, indefinite-quantity (IDIQ) contract is for payload processing support on several upcoming NASA spacecraft missions. The contract stipulates that the multi-mission contract services are targeted to begin in fiscal year 2011 running through 2013.
From Titusville, Florida, Vandenberg Air Force Base, California and the Sea Launch Home Port facilities in Long Beach, California, Astrotech Space Operations provides all support necessary for government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, and transport. In its 25 year history, Astrotech has supported the processing of more than 280 spacecraft without impacting a customer's launch schedule.
"We look forward to continuing our relationship with NASA in support of missions at the Eastern Range," stated Astrotech Chairman and Chief Executive Officer Thomas B. Pickens III. "We are proud of our capabilities and facilities, and look forward to providing NASA with a full complement of processing and facility services."
With a value not to exceed $9.5 million, this indefinite-delivery, indefinite-quantity (IDIQ) contract is for payload processing support on several upcoming NASA spacecraft missions. The contract stipulates that the multi-mission contract services are targeted to begin in fiscal year 2011 running through 2013.
From Titusville, Florida, Vandenberg Air Force Base, California and the Sea Launch Home Port facilities in Long Beach, California, Astrotech Space Operations provides all support necessary for government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, and transport. In its 25 year history, Astrotech has supported the processing of more than 280 spacecraft without impacting a customer's launch schedule.
3 Things you need to know before Trading Today
*Stocks were generally higher throughout Asia overnight. The Nikkei, Shanghai and Australia each gained between 0.6% and 0.8% and the Hang Seng was up a fraction. European indexes are little changed this morning; the Dax is currently off by a fraction and the Footsie is essentially unchanged. US stock futures are also a fraction lower as I write.
*The Q2 reading of Australia’s Producer Price Index was much less than forecast; it rose 0.3% on the month but was expected to increase 0.8%. The annualized result was +1.0%, a half point less than the estimate.
*The June reading of Japan’s exports was down 1.8% from the month before, but it was up 27.7% from a year ago and that was better than expected. Imports rose slightly on the month and overall the Merchandize Trade Balance was a smaller than expected surplus.
*A delegation from the EC, ECB and IMF are in Greece today to begin a two week inspection of the Greek economy to decide if the country should receive a second loan installment, this one for EU9.0 billion, from the EU110 billion aid deal.
*Three month euro Libor was up 0.2 basis points from Friday to 0.82313%, the highest level since last August; this morning is the first time this market could react to the results of the European bank stress tests; three month Euribor was fixed at 0.889% today versus 0.885% on Friday. However the spread between Spanish and German debt yields is a few basis points more narrow this morning
*The June reading of the Chicago Fed National Activity Index is due out at 7:30am CDT; it was +0.21 in May. The July reading of the Dallas Fed Manufacturing Activity Index is set to be released at 9:30am CDT, it is expected to improve to -2.5% from the June reading of -4.0%.
*The June reading of New Home Sales is due out at 9:00, it is expected to show a monthly sales gain of 3.7% for an annualized rate of 311k units.
*The Q2 reading of Australia’s Producer Price Index was much less than forecast; it rose 0.3% on the month but was expected to increase 0.8%. The annualized result was +1.0%, a half point less than the estimate.
*The June reading of Japan’s exports was down 1.8% from the month before, but it was up 27.7% from a year ago and that was better than expected. Imports rose slightly on the month and overall the Merchandize Trade Balance was a smaller than expected surplus.
*A delegation from the EC, ECB and IMF are in Greece today to begin a two week inspection of the Greek economy to decide if the country should receive a second loan installment, this one for EU9.0 billion, from the EU110 billion aid deal.
*Three month euro Libor was up 0.2 basis points from Friday to 0.82313%, the highest level since last August; this morning is the first time this market could react to the results of the European bank stress tests; three month Euribor was fixed at 0.889% today versus 0.885% on Friday. However the spread between Spanish and German debt yields is a few basis points more narrow this morning
*The June reading of the Chicago Fed National Activity Index is due out at 7:30am CDT; it was +0.21 in May. The July reading of the Dallas Fed Manufacturing Activity Index is set to be released at 9:30am CDT, it is expected to improve to -2.5% from the June reading of -4.0%.
*The June reading of New Home Sales is due out at 9:00, it is expected to show a monthly sales gain of 3.7% for an annualized rate of 311k units.
Friday, July 23, 2010
Strategic Mining (PINKSHEETS: SMNG): Moving To OTCBB
Strategic Mining (Pink Sheets: SMNG) announced that it plans to file next week with the SEC Form 10Q for the first quarter and Form 10A, an amended version of the Form 10 that includes responses to the latest SEC questions.
The company filed a Form 10 with the SEC on April 30 to initiate the process to move to the Bulletin Board. As of June 30, Strategic Mining is subject to all of the reporting requirements of the Securities Exchange Act of 1934. The filing of the Form 10Q will immediately move the company to OTCBB status.
The Bulletin Board reaches a much wider audience both domestically and internationally. Strategic Mining is now a reporting company offering more transparency while investors and their brokers would have greater ease and less restrictions to monitor, buy and sell the company's stock. Financial institutions would be more inclined to invest into the company.
President Todd Sterck commented: "The filings with the SEC will be another step in our company's efforts to move to a higher exchange and establish itself as a recognized gold exploration company."
Strategic Mining Corporation is engaged in the exploration and development of gold properties in Vietnam, the US (Nevada/Utah) and Africa. The company intends to expand by acquiring mineral rights to more key properties and initiating strategic joint ventures.
The company filed a Form 10 with the SEC on April 30 to initiate the process to move to the Bulletin Board. As of June 30, Strategic Mining is subject to all of the reporting requirements of the Securities Exchange Act of 1934. The filing of the Form 10Q will immediately move the company to OTCBB status.
The Bulletin Board reaches a much wider audience both domestically and internationally. Strategic Mining is now a reporting company offering more transparency while investors and their brokers would have greater ease and less restrictions to monitor, buy and sell the company's stock. Financial institutions would be more inclined to invest into the company.
President Todd Sterck commented: "The filings with the SEC will be another step in our company's efforts to move to a higher exchange and establish itself as a recognized gold exploration company."
Strategic Mining Corporation is engaged in the exploration and development of gold properties in Vietnam, the US (Nevada/Utah) and Africa. The company intends to expand by acquiring mineral rights to more key properties and initiating strategic joint ventures.
Strategic Mining (PINKSHEETS:SMNG): Moving To OTCBB
Strategic Mining (Pink Sheets:SMNG) announced today that it plans to file next week with the SEC Form 10Q for the first quarter and Form 10A, an amended version of the Form 10 that includes responses to the latest SEC questions.
The company filed a Form 10 with the SEC on April 30 to initiate the process to move to the Bulletin Board. As of June 30, Strategic Mining is subject to all of the reporting requirements of the Securities Exchange Act of 1934. The filing of the Form 10Q will immediately move the company to OTCBB status.
The Bulletin Board reaches a much wider audience both domestically and internationally. Strategic Mining is now a reporting company offering more transparency while investors and their brokers would have greater ease and less restrictions to monitor, buy and sell the company's stock. Financial institutions would be more inclined to invest into the company.
President Todd Sterck commented: "The filings with the SEC will be another step in our company's efforts to move to a higher exchange and establish itself as a recognized gold exploration company."
Strategic Mining Corporation is engaged in the exploration and development of gold properties in Vietnam, the US (Nevada/Utah) and Africa. The company intends to expand by acquiring mineral rights to more key properties and initiating strategic joint ventures.
The company filed a Form 10 with the SEC on April 30 to initiate the process to move to the Bulletin Board. As of June 30, Strategic Mining is subject to all of the reporting requirements of the Securities Exchange Act of 1934. The filing of the Form 10Q will immediately move the company to OTCBB status.
The Bulletin Board reaches a much wider audience both domestically and internationally. Strategic Mining is now a reporting company offering more transparency while investors and their brokers would have greater ease and less restrictions to monitor, buy and sell the company's stock. Financial institutions would be more inclined to invest into the company.
President Todd Sterck commented: "The filings with the SEC will be another step in our company's efforts to move to a higher exchange and establish itself as a recognized gold exploration company."
Strategic Mining Corporation is engaged in the exploration and development of gold properties in Vietnam, the US (Nevada/Utah) and Africa. The company intends to expand by acquiring mineral rights to more key properties and initiating strategic joint ventures.
3 Things You Need to Know Before Trading
Stocks were up throughout Asia. The Nikkei was the strongest with a gain of two and a quarter percent, Australia was up almost two percent, the Hang Seng added a bit more than one percent and Shanghai was up a fraction. European indexes however are mixed; the Dax is currently up about three quarters of a percent but the Footsie is down a fraction. US stock futures are up a third of a percent as I write.
*The Q2 reading of Australia’s Import Price Index was up 1.9% on a quarter on quarter basis and the Export Price Index for the quarter was up 16.1%; both results were higher than forecast.
*The July reading of Germany’s IFO survey of the Business Climate jumped more than four points to 106.2, a fractional decline was expected; the index is at the highest level in three years.
*The Q2 reading of the UK GDP was twice as strong as forecast, posting growth of 1.1% on a quarter on quarter basis after a rise of 0.3% in the previous quarter.
*The results of the European bank stress tests are due to be released at 11:00am CDT. German bank, Hypo Real Estate which is already in custody of the government, is expected to fail, and there are reports out this morning that some of the Spanish Cajas also should have studied harder but most of the banks are likely to pass either outright or pass with qualifications; it was, after all, an open book exam.
Thursday, July 22, 2010
Traders Gobbling Up Shares of LJ International (NASDAQ: Jade), Shares Up 3.5%
LJ International (NASDAQ:JADE), a member of World Markets Media Micro cap index, is one of today's best performing low-priced stocks, up 3.5% to $2.62 on 0.6x average daily volume. As of this story being written, 89,000 shares have traded hands today vs. 30-day average volume of 149,000 shares.
High volume often signals market interest in a stock or issue. LJ International should find initial resistance at its 50-day moving average (MA) of $2.72 and further resistance at its 200-day MA of $2.78.
World Markets Media specializes in bringing news and information on small and micro and nano cap coverage to its community of users on a daily basis. Today's volume action might signal a time to look further into LJ International (JADE).
LJ International is in World Markets Media Specialty Retail industry and this industry is currently undervalued by WMM’s Micro cap industry metrics.
High volume often signals market interest in a stock or issue. LJ International should find initial resistance at its 50-day moving average (MA) of $2.72 and further resistance at its 200-day MA of $2.78.
World Markets Media specializes in bringing news and information on small and micro and nano cap coverage to its community of users on a daily basis. Today's volume action might signal a time to look further into LJ International (JADE).
LJ International is in World Markets Media Specialty Retail industry and this industry is currently undervalued by WMM’s Micro cap industry metrics.
COPsync (OTCBB:COYN): Out Shaing Hands and Kissing Babies on the Law Enforcement Circuit
COPsync, Inc. (OTCBB:COYN), a software technology provider to law enforcement and emergency service professionals, announced today that the Company is exhibiting at the Sheriffs' Association of Texas 132nd Annual Training Conference in Fort Worth, Texas from July 25-28th.
The Sheriffs' Association of Texas began its Annual Training Conferences in 1878. These Training Conferences are the largest composite gathering of law enforcement officers in the State of Texas, offering an assortment of specialized training for the Texas Peace Officer. Through informative general sessions taught by national speakers as well as specialized topics covered in concurrent training sessions, attendees will gain valuable information on technology issues and problems facing Texas Peace Officers today.
Commenting on attending the conference, Russell Chaney, CEO of COPsync, Inc., stated, "We are particularly excited to attend this year's Sheriffs' Association of Texas Training Conference. In previous years, we've met valuable contacts and began establishing the groundwork for the implementation of COPsync's real-time information sharing solution throughout the State of Texas. Since last year's conference, the number of Texas law enforcement agencies utilizing COPsync has grown tremendously. We are confident that this event can further facilitate our rapid growth by presenting the success stories and value that our software has brought to numerous agencies that are currently utilizing COPsync."
Interested parties are encouraged to visit the Company at Booth 710 as well as demo the COPsync Vehicle at Booth V5 to experience its real-time information sharing solutions first hand.
With COPsync, officers can view all law enforcement activity generated on a particular subject in real time, even to the point of being able to view reports or citations generated by agencies in other counties or states. If an individual has been determined to be a safety threat, has an active warrant for their arrest, is listed as a runaway or otherwise flagged in COPsync, all law enforcement officers having contact with that individual are immediately alerted. This information allows law enforcement officers to prepare and respond intelligently to a threat or conduct an investigation with full disclosure of a suspect's history.
9 Things You Need to Know Before Trading Today
*Stocks indexes in Asia again had mixed results overnight. Shanghai continued its recent run with a gain of one percent and the Hang Seng rose a half percent, but Australia was down more than 0.8% and the Nikkei lost two thirds of a percent. European indexes are strong this morning with the Dax currently showing a gain of more than one and a half percent and the Footsie up about 0.9%. US stock futures are trading up about one percent as I write.
*The National Australia Bank’s Q2 survey of Business Confidence Index fell sharply, down to 3 from 16 in the first quarter. This is the lowest level in four quarters.
*The May reading of Japan’s All Industry Activity Index was +0.2% on a monthly basis, beating the estimated decline of 0.4%.
*The preliminary July reading of Germany’s manufacturing sector PMI rose about three points to 61.2, a slight decline was forecast. The early July reading of the service sector PMI was up two and a half points to 57.3, better than the expected fractional fall.
*Broad hints have been dropped on the results of the European bank stress tests indicating widespread success. The official release of the results is scheduled for Friday at 11:00am CDT, but this has become a bone of contention. Apparently the French would like to announce the test results before the European markets open tomorrow, others are not so sure that the time should be changed; as of now the time is still July 23 at 11:00am CDT.
*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 445k. The June reading of Existing Home Sales is due out at 9:00am CDT; Sales are forecast to fall 9.9% from the month before to an annualized rate of 5.10 million units. Also due out at 9:00am are the FHFA House Price Index, expected -0.3% month on month, and Leading Economic Indicators which is forecast to be -0.3%.
*Fed Boss Bernanke is set to appear before the House Financial Services Committee at 8:30am CDT to complete the second part of his semi-annual testimony on the economy and monetary policy. He will likely repeat the exact text that he read yesterday and then will be asked questions by the panel.
*New York Fed boss Dudley is expected to make some remarks at a press briefing on the regional economy at 8:30am CDT.
*The weekly report on inventories of Natural Gas is due to be released at 9:30am CDT, it is expected to show an increase of 51 bcf.
*The National Australia Bank’s Q2 survey of Business Confidence Index fell sharply, down to 3 from 16 in the first quarter. This is the lowest level in four quarters.
*The May reading of Japan’s All Industry Activity Index was +0.2% on a monthly basis, beating the estimated decline of 0.4%.
*The preliminary July reading of Germany’s manufacturing sector PMI rose about three points to 61.2, a slight decline was forecast. The early July reading of the service sector PMI was up two and a half points to 57.3, better than the expected fractional fall.
*Broad hints have been dropped on the results of the European bank stress tests indicating widespread success. The official release of the results is scheduled for Friday at 11:00am CDT, but this has become a bone of contention. Apparently the French would like to announce the test results before the European markets open tomorrow, others are not so sure that the time should be changed; as of now the time is still July 23 at 11:00am CDT.
*The weekly report on Initial Jobless Claims is due out at 7:30am CDT, it is expected to be 445k. The June reading of Existing Home Sales is due out at 9:00am CDT; Sales are forecast to fall 9.9% from the month before to an annualized rate of 5.10 million units. Also due out at 9:00am are the FHFA House Price Index, expected -0.3% month on month, and Leading Economic Indicators which is forecast to be -0.3%.
*Fed Boss Bernanke is set to appear before the House Financial Services Committee at 8:30am CDT to complete the second part of his semi-annual testimony on the economy and monetary policy. He will likely repeat the exact text that he read yesterday and then will be asked questions by the panel.
*New York Fed boss Dudley is expected to make some remarks at a press briefing on the regional economy at 8:30am CDT.
*The weekly report on inventories of Natural Gas is due to be released at 9:30am CDT, it is expected to show an increase of 51 bcf.
Wednesday, July 21, 2010
Tuesday, July 20, 2010
Yahoo (NASDAQ:YHOO): Display Ad's Biz +19%
Yahoo! Inc. (NASDAQ:YHOO) today reported results for the quarter ended June 30, 2010. Revenue was $1,601 million for the second quarter of 2010, a two percent increase from the second quarter of 2009. Income from operations for the second quarter of 2010 was $175 million, compared to $76 million in the second quarter of 2009. Excluding restructuring charges of $65 million in the second quarter of 2009 and $10 million in the second quarter of 2010, income from operations grew 32 percent in the second quarter.
Net income per diluted share for the second quarter of 2010 was $0.15, compared to $0.10 in the second quarter of 2009.
“We’re pleased that we continued to deliver strong operating income and margin expansion,” said Yahoo! Chief Executive Officer Carol Bartz. “Our search fundamentals are improving and we posted another quarter of healthy display advertising growth.”
Financials at a Glance
Quarterly GAAP Results (in millions, except percentages and per share amounts)
Q2 2009 Q2 2010 Percent Change
Revenue $1,573 $1,601 2%
Income from operations $76 $175 132%
Net income attributable to Yahoo! Inc. $141 $213 51%
Net income attributable to Yahoo! Inc. common stockholders per share - diluted $0.10 $0.15 53%
Business Highlights
Display advertising on Owned and Operated sites continued to perform well, growing 19 percent in the quarter compared to the second quarter of 2009. Operating margin expanded from 4.8 percent in the second quarter of 2009 to 11.0 percent in the second quarter of 2010. Excluding restructuring charges of $65 million in the second quarter of 2009 and $10 million in the second quarter of 2010, operating margin expanded from 8.9 percent to 11.6 percent. Yahoo! deepened its integration with Facebook through Yahoo! Pulse – now users can link their Yahoo! and Facebook accounts and view and share updates with friends across both networks. Yahoo! launched new Mail and Messenger apps for the Android platform, as well as HTML-5-based Mail and News sites for the iPhone. Samsung and Yahoo! extended their strategic global partnership to distribute Yahoo!'s industry-leading services on millions of Samsung mobile devices - including those running Samsung bada and Android platforms. Yahoo! acquired Associated Content Inc., extending Yahoo's ability to provide high quality, personally relevant content for the benefit of its users and advertisers. Nokia and Yahoo! announced a worldwide strategic alliance, extending the reach of Yahoo!’s industry-leading online services. Yahoo! announced that it will bring hit games from social gaming company Zynga to the Yahoo! network. Yahoo! acquired Koprol, Indonesia’s popular location-based social network. Yahoo! expanded its partnership with Sony to increase the number of countries where Yahoo! TV Widgets are available, enabling Yahoo! to connect millions of additional consumers on their TVs. Yahoo! hosted its third annual Hadoop Summit with more than 1,000 developers. Hadoop is an open source technology pioneered by Yahoo! for big data sets and cloud computing, helping companies get value from their data and better manage their businesses. Brad Smith, president and CEO of Intuit, and Patti Hart, CEO of International Game Technology (IGT), joined Yahoo!’s Board of Directors. Blake Irving joined as Chief Product Officer, bringing to Yahoo! large scale Internet expertise and will lead Yahoo!’s products organization, which is responsible for the vision, strategy, design and development of Yahoo!’s global consumer and advertiser product portfolio.
Yahoo (NASDAQ:YHOO): Display Ad's Biz +19%
Yahoo! Inc. (NASDAQ:YHOO) today reported results for the quarter ended June 30, 2010. Revenue was $1,601 million for the second quarter of 2010, a two percent increase from the second quarter of 2009. Income from operations for the second quarter of 2010 was $175 million, compared to $76 million in the second quarter of 2009. Excluding restructuring charges of $65 million in the second quarter of 2009 and $10 million in the second quarter of 2010, income from operations grew 32 percent in the second quarter.
Net income per diluted share for the second quarter of 2010 was $0.15, compared to $0.10 in the second quarter of 2009.
“We’re pleased that we continued to deliver strong operating income and margin expansion,” said Yahoo! Chief Executive Officer Carol Bartz. “Our search fundamentals are improving and we posted another quarter of healthy display advertising growth.”
Financials at a Glance
Quarterly GAAP Results (in millions, except percentages and per share amounts)
Q2 2009 Q2 2010 Percent Change
Revenue $1,573 $1,601 2%
Income from operations $76 $175 132%
Net income attributable to Yahoo! Inc. $141 $213 51%
Net income attributable to Yahoo! Inc. common stockholders per share - diluted $0.10 $0.15 53%
Business Highlights
Display advertising on Owned and Operated sites continued to perform well, growing 19 percent in the quarter compared to the second quarter of 2009. Operating margin expanded from 4.8 percent in the second quarter of 2009 to 11.0 percent in the second quarter of 2010. Excluding restructuring charges of $65 million in the second quarter of 2009 and $10 million in the second quarter of 2010, operating margin expanded from 8.9 percent to 11.6 percent. Yahoo! deepened its integration with Facebook through Yahoo! Pulse – now users can link their Yahoo! and Facebook accounts and view and share updates with friends across both networks. Yahoo! launched new Mail and Messenger apps for the Android platform, as well as HTML-5-based Mail and News sites for the iPhone. Samsung and Yahoo! extended their strategic global partnership to distribute Yahoo!'s industry-leading services on millions of Samsung mobile devices - including those running Samsung bada and Android platforms. Yahoo! acquired Associated Content Inc., extending Yahoo's ability to provide high quality, personally relevant content for the benefit of its users and advertisers. Nokia and Yahoo! announced a worldwide strategic alliance, extending the reach of Yahoo!’s industry-leading online services. Yahoo! announced that it will bring hit games from social gaming company Zynga to the Yahoo! network. Yahoo! acquired Koprol, Indonesia’s popular location-based social network. Yahoo! expanded its partnership with Sony to increase the number of countries where Yahoo! TV Widgets are available, enabling Yahoo! to connect millions of additional consumers on their TVs. Yahoo! hosted its third annual Hadoop Summit with more than 1,000 developers. Hadoop is an open source technology pioneered by Yahoo! for big data sets and cloud computing, helping companies get value from their data and better manage their businesses. Brad Smith, president and CEO of Intuit, and Patti Hart, CEO of International Game Technology (IGT), joined Yahoo!’s Board of Directors. Blake Irving joined as Chief Product Officer, bringing to Yahoo! large scale Internet expertise and will lead Yahoo!’s products organization, which is responsible for the vision, strategy, design and development of Yahoo!’s global consumer and advertiser product portfolio.
Global Wireless Subscriptions Surpass 5 Billion: GTX Corp (GTXO.OB) $0.14 6M (MarketCap)
Wireless consumers reached an impressive benchmark last Thursday, with the number of wireless subscriptions surpassing 5 billion globally. After taking into account individuals with multiple devices, the number, up from just 720 million in 2000, suggests that just under 5 billion people of the world's 6.9 billion are connected wirelessly. A recent report from Ericsson predicts that at the current rate of 2 million additional subscriptions per day we will see 50 billion connected devices by 2020
On the heels of passing 500,000 downloads, GTX Corp (OTCBB: GTXO.OB) unit LOCiMOBILE, Inc. is poised to launch a new series of GPS Tracking “apps” and web-based location services that solidify the company’s leadership position in the location-based social networking market. Starting July 15th, users can download the full-featured BlackBerry® version of LOCiMOBILE’s new “Tracking” app, and subscribe to a web-based service that enables Android® and GPS-enabled BlackBerry users to be tracked from any laptop or desktop computer. The new GPS tracking apps and community portal website offer cross-platform, real-time live tracking of friends and family, kids and co-workers.
On the heels of passing 500,000 downloads, GTX Corp (OTCBB: GTXO.OB) unit LOCiMOBILE, Inc. is poised to launch a new series of GPS Tracking “apps” and web-based location services that solidify the company’s leadership position in the location-based social networking market. Starting July 15th, users can download the full-featured BlackBerry® version of LOCiMOBILE’s new “Tracking” app, and subscribe to a web-based service that enables Android® and GPS-enabled BlackBerry users to be tracked from any laptop or desktop computer. The new GPS tracking apps and community portal website offer cross-platform, real-time live tracking of friends and family, kids and co-workers.
Client Disclosure
Global Wireless Subscriptions Surpass 5 Billion: GTX Corp (GTXO.OB) $0.14 6M (MarketCap)
Wireless consumers reached an impressive benchmark last Thursday, with the number of wireless subscriptions surpassing 5 billion globally. After taking into account individuals with multiple devices, the number, up from just 720 million in 2000, suggests that just under 5 billion people of the world's 6.9 billion are connected wirelessly. A recent report from Ericsson predicts that at the current rate of 2 million additional subscriptions per day we will see 50 billion connected devices by 2020
On the heels of passing 500,000 downloads, GTX Corp (OTCBB: GTXO.OB) unit LOCiMOBILE, Inc. is poised to launch a new series of GPS Tracking “apps” and web-based location services that solidify the company’s leadership position in the location-based social networking market. Starting July 15th, users can download the full-featured BlackBerry® version of LOCiMOBILE’s new “Tracking” app, and subscribe to a web-based service that enables Android® and GPS-enabled BlackBerry users to be tracked from any laptop or desktop computer. The new GPS tracking apps and community portal website offer cross-platform, real-time live tracking of friends and family, kids and co-workers.
On the heels of passing 500,000 downloads, GTX Corp (OTCBB: GTXO.OB) unit LOCiMOBILE, Inc. is poised to launch a new series of GPS Tracking “apps” and web-based location services that solidify the company’s leadership position in the location-based social networking market. Starting July 15th, users can download the full-featured BlackBerry® version of LOCiMOBILE’s new “Tracking” app, and subscribe to a web-based service that enables Android® and GPS-enabled BlackBerry users to be tracked from any laptop or desktop computer. The new GPS tracking apps and community portal website offer cross-platform, real-time live tracking of friends and family, kids and co-workers.
Client Disclosure
Global Wireless Subscriptions Surpass 5 Billion: GTX Corp (GTXO.OB) $0.14 6M (MarketCap)
Wireless consumers reached an impressive benchmark last Thursday, with the number of wireless subscriptions surpassing 5 billion globally. After taking into account individuals with multiple devices, the number, up from just 720 million in 2000, suggests that just under 5 billion people of the world's 6.9 billion are connected wirelessly. A recent report from Ericsson predicts that at the current rate of 2 million additional subscriptions per day we will see 50 billion connected devices by 2020
On the heels of passing 500,000 downloads, GTX Corp (OTCBB: GTXO.OB) unit LOCiMOBILE, Inc. is poised to launch a new series of GPS Tracking “apps” and web-based location services that solidify the company’s leadership position in the location-based social networking market. Starting July 15th, users can download the full-featured BlackBerry® version of LOCiMOBILE’s new “Tracking” app, and subscribe to a web-based service that enables Android® and GPS-enabled BlackBerry users to be tracked from any laptop or desktop computer. The new GPS tracking apps and community portal website offer cross-platform, real-time live tracking of friends and family, kids and co-workers.
Client Disclosure: http://www.worldmarketmedia.com/home/disclaimer-disclosure/client-compensation-disclosure.aspx
Monday, July 19, 2010
3 Things to Know Before Trading
Stocks were mixed in Asian trade. Shanghai rose more than two percent on the session but Australia lost about one and a half percent and the Hang Seng was lower by 0.8%; the Nikkei was closed for a holiday in Japan. European indexes have reversed earlier losses and are now generally higher on the day, with the Dax and Footsie both currently trading up by about 0.6%. US stock are up by about a half percent.
*Germany’s central bank, the Bundesbank, said in its monthly bulletin on the economy that “the pace of expansion noticeably improved in spring”, as exports and business confidence both rose strongly in the second quarter. But they cautioned that the high current account deficit countries are a “source of danger” for the single-currency region.
*Early this morning Moody’s downgraded Ireland’s debt rating to Aa2 from Aa1, but they say the outlook is stable and that no further rating change is expected in the “foreseeable” future.
*Over the weekend the talks between Hungary and the IMF/EU, that would allow the country to continue to draw on their EU20 billion emergency loan, broke off without an agreement. The IMF said that “a range of issues remain open” and the EU says that Hungary must make “tough decisions, notably on spending” in order to comply with the deficit reduction requirements set out in the loan arrangement. The government in Hungary wants the loan standards eased. The Forint is under pressure this morning as a result breakdown of the talks, which puts further strain on the mortgage payments in that country that are based in Swiss Francs. There is some thinking that Hungary may have to raise rates in an effort to support their currency.
*The July reading of the NAHB Housing Market Index is due out at 9:00am CDT, it is expected to fall one point from the month before to 16.
3 Things to Know Before Trading
Stocks were mixed in Asian trade. Shanghai rose more than two percent on the session but Australia lost about one and a half percent and the Hang Seng was lower by 0.8%; the Nikkei was closed for a holiday in Japan. European indexes have reversed earlier losses and are now generally higher on the day, with the Dax and Footsie both currently trading up by about 0.6%. US stock are up by about a half percent.
*Germany’s central bank, the Bundesbank, said in its monthly bulletin on the economy that “the pace of expansion noticeably improved in spring”, as exports and business confidence both rose strongly in the second quarter. But they cautioned that the high current account deficit countries are a “source of danger” for the single-currency region.
*Early this morning Moody’s downgraded Ireland’s debt rating to Aa2 from Aa1, but they say the outlook is stable and that no further rating change is expected in the “foreseeable” future.
*Over the weekend the talks between Hungary and the IMF/EU, that would allow the country to continue to draw on their EU20 billion emergency loan, broke off without an agreement. The IMF said that “a range of issues remain open” and the EU says that Hungary must make “tough decisions, notably on spending” in order to comply with the deficit reduction requirements set out in the loan arrangement. The government in Hungary wants the loan standards eased. The Forint is under pressure this morning as a result breakdown of the talks, which puts further strain on the mortgage payments in that country that are based in Swiss Francs. There is some thinking that Hungary may have to raise rates in an effort to support their currency.
*The July reading of the NAHB Housing Market Index is due out at 9:00am CDT, it is expected to fall one point from the month before to 16.
Sunday, July 18, 2010
VocalTec (NASDAQ:VOCL): MagicJack Going Public ..6.5 Million Units Sold Since 2008
First time I heard the real story behind MagicJack I was sitting in a sauna in West Palm talking with some friends sweating my ass off. The founder of MagicJack is based in West Palm Beach Florida and travels in local circles, he also has an interesting background on Wall Street. This is not his first rodeo..we will be covering the MagicJack story and add them as part of the World Market Media MicroCap Index.
VocalTec Communications Ltd., the inventor of VOIP including the softphone, and YMAX Corp., the creator of magicJack and other products and services have successfully merged and will be traded on the Nasdaq.
VocalTec stock will cease trading using the symbol (Nasdaq:VOCL) after close of business today July,16th 2010. It will commence trading using the symbol (Nasdaq:CALL) on Monday, July 19th, 2010. The parties believe that the combined company has an enterprise value of $245 million and a per share value at least $17.50 on Monday, July 19, 2010 on a split adjusted basis.
The previous holders of VocalTec will have 1,173,294 shares of common stock following the merger. VocalTec expects to have revenues ranging from $110 million to $125 million this year. With over $40 million cash/securities on hand and no debt, VocalTec expects to show a profit in the current quarter.
YMAX brings the success of the magicJack in the form of brand equity, distribution and advertising across many outlets and over 6,500,000 magicJacks sold since 2008. The largest reaching CLEC (Competitive Local Exchange Carrier) in the United States in terms of area codes available and certification in number of states, it has its own chip development and application server/softswitch company. VocalTec also adds softswitch, application servers and the softphone to the mix. The combined company will have cost reductions through different synergies.
VocalTec Communications Ltd., the inventor of VOIP including the softphone, and YMAX Corp., the creator of magicJack and other products and services have successfully merged and will be traded on the Nasdaq.
VocalTec stock will cease trading using the symbol (Nasdaq:VOCL) after close of business today July,16th 2010. It will commence trading using the symbol (Nasdaq:CALL) on Monday, July 19th, 2010. The parties believe that the combined company has an enterprise value of $245 million and a per share value at least $17.50 on Monday, July 19, 2010 on a split adjusted basis.
The previous holders of VocalTec will have 1,173,294 shares of common stock following the merger. VocalTec expects to have revenues ranging from $110 million to $125 million this year. With over $40 million cash/securities on hand and no debt, VocalTec expects to show a profit in the current quarter.
YMAX brings the success of the magicJack in the form of brand equity, distribution and advertising across many outlets and over 6,500,000 magicJacks sold since 2008. The largest reaching CLEC (Competitive Local Exchange Carrier) in the United States in terms of area codes available and certification in number of states, it has its own chip development and application server/softswitch company. VocalTec also adds softswitch, application servers and the softphone to the mix. The combined company will have cost reductions through different synergies.
Friday, July 16, 2010
MagneGas (OTCBB: MNGA) secures and receives investment from Chinese partner for refinery
MagneGas (OTCBB: MNGA) is a producer of an alternative metal working fuel as well as a natural gas alternative both derived from liquid waste. This fuel is made by a patented process called Plasma ArcFlow. The company is in various stages of negotiating with several companies that may purchase its Plasma ArcFlow technology to manufacture alternative fuel.
This year it signed an agreement with DDI Industry International, based in Beijing, to construct a 200kw Plasma Arc Flow(TM) refinery. DDI has already made a down payment of $950,000 towards the construction of the plant. MagneGas says it is confident that the plant will be due for completion on time and expects DDI to inspect the plant in July, making its final payment by 31 August 2010.
This year it signed an agreement with DDI Industry International, based in Beijing, to construct a 200kw Plasma Arc Flow(TM) refinery. DDI has already made a down payment of $950,000 towards the construction of the plant. MagneGas says it is confident that the plant will be due for completion on time and expects DDI to inspect the plant in July, making its final payment by 31 August 2010.
Plasma ArcFlow is the patented technology which the company uses to make its key product, called MagneGas, an alternative fuel. MagneGas is made from liquid waste such as manure, sewage, sludge and other oil based waste. MagneGas can be used for metal cutting, heating or cooking or to power dual fuel autos.
Based in Florida the company was founded in 2005. Yet to turn a profit, MagneGas had revenues of $259K for the last financial year, losing $784K. The company’s shares, traded over the counter, have moved down by 60.53 per cent over the past year.
Based in Florida the company was founded in 2005. Yet to turn a profit, MagneGas had revenues of $259K for the last financial year, losing $784K. The company’s shares, traded over the counter, have moved down by 60.53 per cent over the past year.
MoSys partners up to deliver latest in embedded memory and interface IP
MoSys, Inc. (NASDAQ: MOSY) develops, and licenses intellectual property (IP) used by the semiconductor and electronics industry. In recent developments MoSys partnered up with industry counterparts to offer cutting edge solutions not previously available in the industry.
On July 14 MoSys announced that it has teamed up with Northwest Logic, the developer of IP Cores, to offer integrated PCI Express v 2.0 and DDR3 solutions. The new PCI Express 2.0 solution combines top IP from MoSys with expertise from Northwest Logic which offers a complete, pre-packaged PCI Express 2.0 solution. In addition the new DDR3 product combines the DDR3 PHY from MoSys with the high performance DDR3 SDRAM control core and add-ons from Northwest to deliver a cutting edge DDR3 solution.
According to David DeMaria, VP of Business Operations of MoSys, the high performance controller solutions from Northwest Logic provide a strong partner for MoSys technologies.
Earlier this year MoSys and CEVA partnered to deliver an integrated SATA 3.0 PHY and Controller solution. The IP solution unleashes the full potential of embedding a 6Gbps SATA interface in next-gen products. CEVA , the leading licensor of silicon IP DSP cores, has an influential history in Serial ATA.
MoSys was founded in 1991 and currently has 152 employees. Revenue for the last financial year reached USD 12.44m, the company made a net loss of USD 20.62m. Key to the company’s product line up is a semiconductor memory technology the company calls 1T-SRAM. This and other technology is licensed to companies that embed memory on circuit boards, including ‘systems-on-chips’. High speed parallel and serial interfaces are also a key part of the IP that MoSys licenses. Major acquisitions include the buyout of MagnaLynx Inc. in March 2010.
On July 14 MoSys announced that it has teamed up with Northwest Logic, the developer of IP Cores, to offer integrated PCI Express v 2.0 and DDR3 solutions. The new PCI Express 2.0 solution combines top IP from MoSys with expertise from Northwest Logic which offers a complete, pre-packaged PCI Express 2.0 solution. In addition the new DDR3 product combines the DDR3 PHY from MoSys with the high performance DDR3 SDRAM control core and add-ons from Northwest to deliver a cutting edge DDR3 solution.
According to David DeMaria, VP of Business Operations of MoSys, the high performance controller solutions from Northwest Logic provide a strong partner for MoSys technologies.
Earlier this year MoSys and CEVA partnered to deliver an integrated SATA 3.0 PHY and Controller solution. The IP solution unleashes the full potential of embedding a 6Gbps SATA interface in next-gen products. CEVA , the leading licensor of silicon IP DSP cores, has an influential history in Serial ATA.
MoSys was founded in 1991 and currently has 152 employees. Revenue for the last financial year reached USD 12.44m, the company made a net loss of USD 20.62m. Key to the company’s product line up is a semiconductor memory technology the company calls 1T-SRAM. This and other technology is licensed to companies that embed memory on circuit boards, including ‘systems-on-chips’. High speed parallel and serial interfaces are also a key part of the IP that MoSys licenses. Major acquisitions include the buyout of MagnaLynx Inc. in March 2010.
Itibiti and Web Asset Partners Launch first Urban Music itiBiti app - ‘Hip Hop Bible’ www.getyourhiphop.com
NEW YORK, TORONTO July 16, 2010 (GLOBE NEWSWIRE) -- Itibiti Systems Inc. (“itiBiti”), a wholly owned division of Intertainment Media Inc. (“Intertainment”) (TSXV:INT), along with Web Asset Partners Inc., today announced the Summer 2010 launch program for Hip Hop Bible® – the first urban music-driven, social media, entertainment and communications itiBiti app for the computer desktop.
Setting a new standard of engagement and revenue programs for global brands while leveraging the authenticity and impact of the urban music platform, the Hip Hop Bible itiBiti app defines an important new environment where deeper relationships with fans can be managed creatively and effectively.
“We’re committed to bringing clients and fans of urban music and lifestyle the widest exposure possible through new formats, distribution, and technical innovation,” said Roget Romain, CEO, Web Asset Partners. “Hip Hop Bible’s powerful ability to entertain and engage audiences made it a natural fit for the itiBiti application. This will allow our brand partners a new way to connect directly with consumers in a known environment.”
Notably, the itiBiti desktop app has been hailed by Microsoft Corp. as "the next generation of integrated social media applications - easy, scalable and fun."
The Hip Hop Bible® app is FREE to download & use, opening full-screen on the desktop as soon as the computer is turned on. With just one tool, consumers now have immediate access to new and archived Hip Hop content, premium services, and no-cost communications features. Users can talk for free with friends and family across North America, stay connected with built-in social media favourites, sample a wide selection of news & information feeds, access on-board MSN Live Services with Bing Search, enjoy VIP access to the latest client promotions, updates and more.
“We are very excited to be moving forward with the Web Asset Partners and the Hip Hop Bible itiBiti app. The combination of Itibiti’s powerful social media platform and Hip Hop Bible’s content provides advertisers and fans with a new and vibrant engagement strategy,” said David Lucatch, President - Itibiti Systems Inc. and CEO - Intertainment Media Inc.
For information and to download, visit www.getyourthiphop.com
About itiBiti: www.itibiti.com
itiBiti is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing global brands with the unprecedented ability to power their marketing efforts within a unique, private-label social media platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the power of Microsoft Live services. Soon, itiBiti Mobile will provide users of major private label branded itiBiti platforms with the ability to continue their user engagement experience with their mobile smartphones and tablet computing devices. Itibiti Systems Inc. has an agreement with Highway Entertainment to represent itiBiti to clients of Omnicom Media Group worldwide. Omnicom Media Group ("OMG") is the media services division of Omnicom Group Inc. (NYSE:OMC), the leading global advertising, marketing and corporate communications company, providing services to over 5,000 clients in more than 100 countries. In November 2009, itiBiti launched the NBC.com Communicator, its first private label itiBiti brand program. Itibiti Systems is a wholly owned subsidiary of Intertainment Media Inc., a Microsoft Global Agency partner. With offices in New York, Los Angeles, San Mateo, CA and headquartered in Toronto, Canada, Intertainment is listed on the Toronto Venture Exchange with the symbol "INT".
About Web Asset Partners - www.webassetpartners.com
Imagine your creative ideas brought to life...
{WAP} is a U.S. Corporation based in the state of New York founded in 2009. The Company is a corporation that specializes in network designs, mobile applications, brand development , and digital media distribution. Our strategy is to provide web/mobile development services to private clientele while developing high level in house brands for sale.
About HipHopBible- www.hiphopbible.net
HipHopBible.net is a video sharing website with social networking capabilities in which users can watch, share and upload videos. HipHopBible.net like hip hop was born out of a cultural movement through music,dance, graffiti, djing, and mcing as a form of expression to illustrate the social condition of African American, Afro-Caribbean and Latin American of New York City primarily the South Bronx in the late 1970's. Today hip hop has become a dominant cultural movement that appeals to a broader demographic worldwide.HipHopBible.net is a video sharing website with social networking capabilities in which users can watch.
About Intertainment Media inc.: www.intertainmentmedia.com
Connecting people with brands, Intertainment Media Inc. is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.
Intertainment Media owns a number of key properties including Ad Taffy, itiBiti and Magnum Fine Commercial Printing Limited.
Headquartered in Richmond Hill, ON, with offices in New York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol “INT”.
About World Market Media
WorldMarketMedia.com (The Global Online Investment Community) is a high traffic stock market, news data website providing cutting edge new media products and services to publicly traded companies worldwide. Our Editor's Desk authors insightful real-time coverage on the economy, the capital markets and their listed companies. WMM Research Group has the unique ability to combine media and robust journalism with unbiased in-depth research in the Nano, Micro and SmallCap markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.
Contact:
For itiBiti / Intertainment Media Inc.:
David Lucatch, CEO
800-395-9943
info@intertainmentmedia.com
www.itibiti.com
www.intertainmentmedia.com
For Web Asset Partners:
Roget Romain, CEO
347-461-0499
info@webassetpartners.com
www.webassetpartners.com
info@hiphopbible.net
www.hiphopbible.net
World Market Media
Ronald Russo, SEO
+1 877 801 8408 Ext. 302
info@worldmarketmedia.com
www.worldmarketmedia.com
Setting a new standard of engagement and revenue programs for global brands while leveraging the authenticity and impact of the urban music platform, the Hip Hop Bible itiBiti app defines an important new environment where deeper relationships with fans can be managed creatively and effectively.
“We’re committed to bringing clients and fans of urban music and lifestyle the widest exposure possible through new formats, distribution, and technical innovation,” said Roget Romain, CEO, Web Asset Partners. “Hip Hop Bible’s powerful ability to entertain and engage audiences made it a natural fit for the itiBiti application. This will allow our brand partners a new way to connect directly with consumers in a known environment.”
Notably, the itiBiti desktop app has been hailed by Microsoft Corp. as "the next generation of integrated social media applications - easy, scalable and fun."
The Hip Hop Bible® app is FREE to download & use, opening full-screen on the desktop as soon as the computer is turned on. With just one tool, consumers now have immediate access to new and archived Hip Hop content, premium services, and no-cost communications features. Users can talk for free with friends and family across North America, stay connected with built-in social media favourites, sample a wide selection of news & information feeds, access on-board MSN Live Services with Bing Search, enjoy VIP access to the latest client promotions, updates and more.
“We are very excited to be moving forward with the Web Asset Partners and the Hip Hop Bible itiBiti app. The combination of Itibiti’s powerful social media platform and Hip Hop Bible’s content provides advertisers and fans with a new and vibrant engagement strategy,” said David Lucatch, President - Itibiti Systems Inc. and CEO - Intertainment Media Inc.
For information and to download, visit www.getyourthiphop.com
About itiBiti: www.itibiti.com
itiBiti is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing global brands with the unprecedented ability to power their marketing efforts within a unique, private-label social media platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the power of Microsoft Live services. Soon, itiBiti Mobile will provide users of major private label branded itiBiti platforms with the ability to continue their user engagement experience with their mobile smartphones and tablet computing devices. Itibiti Systems Inc. has an agreement with Highway Entertainment to represent itiBiti to clients of Omnicom Media Group worldwide. Omnicom Media Group ("OMG") is the media services division of Omnicom Group Inc. (NYSE:OMC), the leading global advertising, marketing and corporate communications company, providing services to over 5,000 clients in more than 100 countries. In November 2009, itiBiti launched the NBC.com Communicator, its first private label itiBiti brand program. Itibiti Systems is a wholly owned subsidiary of Intertainment Media Inc., a Microsoft Global Agency partner. With offices in New York, Los Angeles, San Mateo, CA and headquartered in Toronto, Canada, Intertainment is listed on the Toronto Venture Exchange with the symbol "INT".
About Web Asset Partners - www.webassetpartners.com
Imagine your creative ideas brought to life...
{WAP} is a U.S. Corporation based in the state of New York founded in 2009. The Company is a corporation that specializes in network designs, mobile applications, brand development , and digital media distribution. Our strategy is to provide web/mobile development services to private clientele while developing high level in house brands for sale.
About HipHopBible- www.hiphopbible.net
HipHopBible.net is a video sharing website with social networking capabilities in which users can watch, share and upload videos. HipHopBible.net like hip hop was born out of a cultural movement through music,dance, graffiti, djing, and mcing as a form of expression to illustrate the social condition of African American, Afro-Caribbean and Latin American of New York City primarily the South Bronx in the late 1970's. Today hip hop has become a dominant cultural movement that appeals to a broader demographic worldwide.HipHopBible.net is a video sharing website with social networking capabilities in which users can watch.
About Intertainment Media inc.: www.intertainmentmedia.com
Connecting people with brands, Intertainment Media Inc. is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.
Intertainment Media owns a number of key properties including Ad Taffy, itiBiti and Magnum Fine Commercial Printing Limited.
Headquartered in Richmond Hill, ON, with offices in New York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol “INT”.
About World Market Media
WorldMarketMedia.com (The Global Online Investment Community) is a high traffic stock market, news data website providing cutting edge new media products and services to publicly traded companies worldwide. Our Editor's Desk authors insightful real-time coverage on the economy, the capital markets and their listed companies. WMM Research Group has the unique ability to combine media and robust journalism with unbiased in-depth research in the Nano, Micro and SmallCap markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.
Contact:
For itiBiti / Intertainment Media Inc.:
David Lucatch, CEO
800-395-9943
info@intertainmentmedia.com
www.itibiti.com
www.intertainmentmedia.com
For Web Asset Partners:
Roget Romain, CEO
347-461-0499
info@webassetpartners.com
www.webassetpartners.com
info@hiphopbible.net
www.hiphopbible.net
World Market Media
Ronald Russo, SEO
+1 877 801 8408 Ext. 302
info@worldmarketmedia.com
www.worldmarketmedia.com
Intertainment Media Secures $5.0 Million CDN Equity Commitment
TORONTO / NEW YORK, July 15, 2010 – Intertainment Media Inc. (TSXV:INT) (“Intertainment”), a leading
provider of private label social media and engagement technologies, is pleased to announce that it has entered
into an agreement with GEM Global Yield Fund Limited ("GEM") for a $5.0 million CDN equity line of credit. Funds
raised through this facility will be used for the enhancement of existing and development of new product lines and general working capital purposes.
The Company will control the timing and maximum amount of any draw downs under this facility, and has the
right, not the obligation, to draw down on available funds. The Company has the option within the terms of the
agreement, to draw down funds in tranches by requiring GEM to subscribe for the Company's common shares at a 10 percent discount to the average closing price of the Company's common shares over a 15 day trading period following the draw down notice date. GEM will hold freely trading shares of the Company through a share lending facility provided by current shareholders. As part of the equity credit line transaction, the Company has agreed to issue 7.5 million warrants to GEM in conjunction with the first draw down tranche. The warrants will be exercisable for a period of three years from the closing notice date at an exercise price of $0.20 CDN per share.
"Investment decisions by GEM are based, in large part, on funding sustainable growth companies over the long
term. GEM recognized the long term value of Intertainment’s highly developed suite of social media and
engagement technologies as well as our brand client and industry relationships including Intertainment’s Global
Agency partnership with Microsoft Corp.," said David Lucatch, CEO of Intertainment Media Inc.
About Intertainment Media inc.: www.intertainmentmedia.com
Connecting people with brands, Intertainment Media Inc. is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.
Intertainment Media owns a number of key properties including Ad Taffy, itiBiti and Magnum Fine Commercial
Printing Limited.
Headquartered in Richmond Hill, ON, with offices in New York, Los Angeles and San Mateo, CA, Intertainment
Media Inc. is listed on the Toronto Venture Exchange under the symbol “INT”.
About GEM Group
Global Emerging Markets Group, www.gemgroup.ch was founded in 1991. GEM is a USD 3.4 billion Swiss-based
investment group having completed 285 transactions in 60 countries. The firm is an alternative investment
group that manages a diverse set of investment vehicles across the world. GEM's funds include: CITIC/GEM
Fund; VC Bank/GEM Mena Fund; GEM Global Yield Fund; GEM India and Banco Pine/GEM Funds.
Contact: Warren P. Baker, III – wbaker@gemny.com / +1 (212) 582-3400
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain forwardlooking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws. This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.
Contact:
For Intertainment Media Inc.:
David Lucatch, CEO
+1 800 395 9943
info@intertainmentmedia.com
www.intertainmentmedia.com
World Market Media
+1 877 801 8408 Ext. 302
info@worldmarketmedia.com
www.worldmarketmedia.com
provider of private label social media and engagement technologies, is pleased to announce that it has entered
into an agreement with GEM Global Yield Fund Limited ("GEM") for a $5.0 million CDN equity line of credit. Funds
raised through this facility will be used for the enhancement of existing and development of new product lines and general working capital purposes.
The Company will control the timing and maximum amount of any draw downs under this facility, and has the
right, not the obligation, to draw down on available funds. The Company has the option within the terms of the
agreement, to draw down funds in tranches by requiring GEM to subscribe for the Company's common shares at a 10 percent discount to the average closing price of the Company's common shares over a 15 day trading period following the draw down notice date. GEM will hold freely trading shares of the Company through a share lending facility provided by current shareholders. As part of the equity credit line transaction, the Company has agreed to issue 7.5 million warrants to GEM in conjunction with the first draw down tranche. The warrants will be exercisable for a period of three years from the closing notice date at an exercise price of $0.20 CDN per share.
"Investment decisions by GEM are based, in large part, on funding sustainable growth companies over the long
term. GEM recognized the long term value of Intertainment’s highly developed suite of social media and
engagement technologies as well as our brand client and industry relationships including Intertainment’s Global
Agency partnership with Microsoft Corp.," said David Lucatch, CEO of Intertainment Media Inc.
About Intertainment Media inc.: www.intertainmentmedia.com
Connecting people with brands, Intertainment Media Inc. is a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.
Intertainment Media owns a number of key properties including Ad Taffy, itiBiti and Magnum Fine Commercial
Printing Limited.
Headquartered in Richmond Hill, ON, with offices in New York, Los Angeles and San Mateo, CA, Intertainment
Media Inc. is listed on the Toronto Venture Exchange under the symbol “INT”.
About GEM Group
Global Emerging Markets Group, www.gemgroup.ch was founded in 1991. GEM is a USD 3.4 billion Swiss-based
investment group having completed 285 transactions in 60 countries. The firm is an alternative investment
group that manages a diverse set of investment vehicles across the world. GEM's funds include: CITIC/GEM
Fund; VC Bank/GEM Mena Fund; GEM Global Yield Fund; GEM India and Banco Pine/GEM Funds.
Contact: Warren P. Baker, III – wbaker@gemny.com / +1 (212) 582-3400
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain forwardlooking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws. This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.
Contact:
For Intertainment Media Inc.:
David Lucatch, CEO
+1 800 395 9943
info@intertainmentmedia.com
www.intertainmentmedia.com
World Market Media
+1 877 801 8408 Ext. 302
info@worldmarketmedia.com
www.worldmarketmedia.com
Thursday, July 15, 2010
Earnings, BP and Goldman Help Market Retrace Steps
(AP) -- Stocks had a late-day turnaround and closed mixed Thursday as traders awaited news that Goldman Sachs settled the government's civil fraud charges.
As word spread that the Securities and Exchange Commission had scheduled a late-afternoon announcement, investors began buying on the belief that the government and Goldman Sachs Group Inc. had settled the charges that grew out of the sale of securities based on risky mortgages.
The $550 million settlement was announced less than an hour after trading ended. Goldman agreed to pay fines of $300 million, the largest fine against a financial company in SEC history, and $250 million to compensate investors who lost money on the securities. The deal also requires Goldman to review how it sells complex financial mortgage investments.
Anticipation of the settlement, which removes uncertainty that has hovered around Goldman since the charges were announced April 16, was enough to make traders temporarily set aside concerns about the economy. A series of disappointing economic reports had sent the Dow Jones industrials down nearly 100 points in late trading. The Dow scrambled back to a loss of just 7 by the close. Broader indexes were narrowly mixed.
Goldman was trading at about $140 a share when word of the pending announcement came. The stock then soared to close at $145.22, up $6.16, and shot up to $151.26 in after-hours trading.
John Merrill, chief investment officer of Tanglewood Wealth Management in Houston, said before the announcement that a settlement would come as a relief. The case "hangs over the investment banks and the financial community in general," he said.
A little more uncertainty was lifted from the market late in the day, when the Senate passed and sent to President Barack Obama the financial regulation bill. However, because regulations that will implement the bill's provisions have yet to be written, traders were still wary. Analysts said that likely contributed to the market's dip right before word of an SEC announcement.
"Another step toward financial regulation may have sparked some fear" and selling, said Todd Salamone, senior vice president of research at Schaeffer's Investment Service.
Bill Strazzullo, partner and chief market strategist for Bell Curve Trading in Boston, noted that JPMorgan Chase & Co. CEO Jamie Dimon earlier in the day said it wasn't possible to estimate the impact of the bill on his company's profits.
"Maybe the reality of it is finally upon us," he said.
The Dow fell 7.41, or 0.07 percent, to 10,359.31. The Standard & Poor's 500 index rose 1.31, or 0.1 percent, to 1,096.48, while the Nasdaq composite index fell 0.76, or 0.03 percent, to 2,249.08.
Losing stocks were slightly ahead of gainers on the New York Stock Exchange, where volume came to 1.1 billion shares.
Bond prices rose as investors worried about the economy sought safety the safety of government securities. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.99 percent from 3.05 percent late Wednesday.
For much of the day, the market was down on pessimism about weak economic reports -- a problem that will continue to dog the market. A day after the Federal Reserve issued a slightly more bleak outlook on the economy, steep drops reported in the Empire State and Philadelphia Fed Manufacturing indexes pointed to a slowing in manufacturing activity in the Northeast. Meanwhile, the Fed reported modest growth in industrial output nationwide. And the Labor Department said first-time claims for unemployment benefits fell last week, but that was largely due to seasonal factors.
"We've hit a soft spot," Howard Ward, chief investment officer at GAMCO Growth Fund, said of the economic recovery. "The question is, are we starting to already improve or are we still falling down."
The disappointing manufacturing reports, which followed a weeklong stock rally, made the market "susceptible to profit taking" after the market's week-long advance, Ward said.
There appeared to be a shift in investors' view of the economy. They had been upbeat over the past week on more positive economic signs, in particular forecasts from companies including Intel Corp. and Alcoa Inc. But the latest disappointing numbers now seem to be dictating investors' moves, and analysts questioned whether investors would start buying again if companies keep reporting strong earnings and outlooks.
JPMorgan Chase, the first big bank to report its second-quarter earnings, said it had set aside less money to cover losses on failed loans. That is a sign that mortgage and loan defaults may be moderating. But Dimon kept a cautious tone about future economic growth.
"Earnings are strong," said Sandy Mehta, principal and chief investment officer of Value Investment Principals. "But the underlying economy is not as strong."
JPMorgan Chase rose 11 cents to $40.46. Several other big banks fell. Bank of America Corp. dropped 28 cents to $15.39 and Citigroup Inc. fell 5 cents to $4.16. Both companies report earnings on Tuesday.
Caterpillar Inc. fell 19 cents to $66.51 on the downbeat manufacturing reports.
The euro climbed above $1.28 for the first time in more than two months Thursday as investors worried about the strength in the U.S.
Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index fell 1 percent, and France's CAC-40 fell 1.4 percent. Japan's Nikkei stock average fell 1.1 percent.
Cinedigm Digital Cinema (NASDAQ:CIDM) :Leveraging The World Cup
CIDM . The global leader in digital cinema and in theatrical distribution of LIVE 3D events, today shared the success of its 2010 FIFA World Cup™ LIVE 3D broadcast. Cinedigm carried the championship match between Spain and the Netherlands to select Cinedigm Certified™ theatres around the United States and Canada, marking the first-ever cinematic live 3D broadcast of the world's most popular sporting event final. Thousands of fans flocked to the broadcast; close to 50 percent of locations sold out multiple screens and all saw per-customer grosses.
Cinedigm partnered with SENSIO® Tech(TSX-V:SIO - News) to bring 25 of this year's FIFA World Cup™ matches to theatres. Companies used SENSIO's technology and expertise in the theatre technology architecture to show all 25 LIVE 3D matches in 475 cinemas across 33 countries worldwide. Over the 30 days of the championship, more than 4,500 screenings of its most popular games took place across the globe.
Tuesday, July 13, 2010
GTX Corp and Samsung Electronics Limited entered into an Agreement To Provide Online Mobile Content And Services For Mobile Devices
Effective July 8, 2010, GTX Corp (the “Company”) and Samsung Electronics Limited (“Samsung”) entered into an Agreement To Provide Online Mobile Content And Services For Mobile Devices (the “Agreement”). Under the Agreement, the Company agreed to develop versions of the Company’s GPS Tracking applications specifically for cell phones that run on Samsung’s bada platform. The purpose of the Agreement is to grant Samsung the license rights to offer the Company’s GPS Tracking smart phone applications to the millions of cell phones manufactured and sold by Samsung using the bada platform. Samsung bada is a new open platform for use on Samsung mobile devices.
Under the Agreement, Samsung will pay the Company a non recurring engineering development fee, contribute marketing and engineering support for pre and post launch, provide an industry standard global platform for distribution, and share user revenues with the Company. Samsung will be responsible for collecting the fees and Samsung will remit 70% of such fees to the Company. The Company will update the GPS Tracking applications periodically throughout the initial one year term of the agreement and such updates will coincide with the updates the Company provides to its GPS Tracking applications on the iPhone, Android and Blackberry platforms, which to date have been downloaded by over 500,000 users in 84 countries. The GPS Tracking applications are expected to be featured for sale on the Samsung Application Store beginning in the third quarter of 2010.
Over 220,000,000 customers bought Samsung handsets in 2009. Over 40,000,000 customers bought Samsung touch phones last year. Samsung expects the bada platform will rapidly be adopted by such customers this year. In 2010 bada’s global distribution and coverage of Samsung mobile phones and Samsung Apps, the application store, will expand its service to 75 countries. Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2009 consolidated sales of US$116.8 billion. Employing approximately 188,000 people in 185 offices across 65 countries, Samsung is widely recognized as a leading mobile phone provider and the bada platform is utilized in millions of phones sold by Samsung.
http://sec.gov/Archives/edgar/data/1375793/000114420410037614/v190460_8k.htm
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This report contains forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. You should not place undue reliance on those statements because they are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include statements regarding our plans, objectives, goals, strategies, future events, capital expenditures, future results, our competitive strengths, our business strategy our industry trends and other statements regarding matters that are not historical facts. These statements often include words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “goal,” “suggest,” “potential” or similar expressions. These statements are based on assumptions that we have made in light of our industry experience as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you read and consider this report, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. A more complete description of these risks, uncertainties and assumptions is included in the Company’s filings with the Securities and Exchange Commission.
The Company undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
Under the Agreement, Samsung will pay the Company a non recurring engineering development fee, contribute marketing and engineering support for pre and post launch, provide an industry standard global platform for distribution, and share user revenues with the Company. Samsung will be responsible for collecting the fees and Samsung will remit 70% of such fees to the Company. The Company will update the GPS Tracking applications periodically throughout the initial one year term of the agreement and such updates will coincide with the updates the Company provides to its GPS Tracking applications on the iPhone, Android and Blackberry platforms, which to date have been downloaded by over 500,000 users in 84 countries. The GPS Tracking applications are expected to be featured for sale on the Samsung Application Store beginning in the third quarter of 2010.
Over 220,000,000 customers bought Samsung handsets in 2009. Over 40,000,000 customers bought Samsung touch phones last year. Samsung expects the bada platform will rapidly be adopted by such customers this year. In 2010 bada’s global distribution and coverage of Samsung mobile phones and Samsung Apps, the application store, will expand its service to 75 countries. Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2009 consolidated sales of US$116.8 billion. Employing approximately 188,000 people in 185 offices across 65 countries, Samsung is widely recognized as a leading mobile phone provider and the bada platform is utilized in millions of phones sold by Samsung.
http://sec.gov/Archives/edgar/data/1375793/000114420410037614/v190460_8k.htm
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This report contains forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. You should not place undue reliance on those statements because they are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include statements regarding our plans, objectives, goals, strategies, future events, capital expenditures, future results, our competitive strengths, our business strategy our industry trends and other statements regarding matters that are not historical facts. These statements often include words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “goal,” “suggest,” “potential” or similar expressions. These statements are based on assumptions that we have made in light of our industry experience as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you read and consider this report, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. A more complete description of these risks, uncertainties and assumptions is included in the Company’s filings with the Securities and Exchange Commission.
The Company undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this report or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
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