latest news releases from the newsroom
MedAvant Announces It has Closed the Sale of National Preferred Provider Network
ATLANTA, Feb. 1, 2008 (PRIME NEWSWIRE) -- MedAvant Healthcare Solutions (MedAvant) (Nasdaq:PILL), a leader in healthcare technology and transaction services, today announced it has closed the sale of National Preferred Provider Network ("NPPN(tm)") to Coalition America, Inc. ("Coalition" or "CAI") for approximately $23.5 million in cash. Pursuant to the terms of an Escrow Agreement, $3 million of the purchase price will be placed in escrow and the purchase price will be subject to a working capital adjustment.
SenoRx Announces Fourth Quarter and Full-Year 2007 Financial Results Conference Call
ALISO VIEJO, Calif., Feb. 1, 2008 (PRIME NEWSWIRE) -- SenoRx Inc. (Nasdaq:SENO) today announced it will release its fourth quarter and full-year 2007 financial results on Tuesday, February 19, 2008 prior to the market open. A conference call to review the results will follow at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time). This call will be open to all investors live via the Investor Relations section of the SenoRx Web site at www.senorx.com. A replay of the call will be available on the company's web site approximately 90 minutes after the call concludes. It will also be available to be downloaded as a podcast.
Somerset Hills Bancorp
Somerset Hills Bancorp Reports Year End Results, Write Down of Goodwill; Announces $0.04 Per Share Quarterly Cash Dividend
BERNARDSVILLE, N.J., Feb. 1, 2008 (PRIME NEWSWIRE) -- Somerset Hills Bancorp (Nasdaq:SOMH) reported its results of operations for the year ended December 31, 2007. For the year, the Company reported net income of $382,000. The results for 2007 were impacted by several factors, including the slowdown in the housing and residential mortgage markets. As a result of these and other factors, the Company recognized a non-cash charge of approximately $1.2 million to write off the goodwill associated with the 2000 acquisition of Sullivan Financial Services, its mortgage banking unit, in the fourth quarter of 2007. In addition, in the fourth quarter, the Company recognized a $986,000 addition to its allowance for loan losses. The additional provision primarily reflects the impact of a $2.8 million credit relationship which was previously disclosed as a potentially troubled credit and which was placed on non-accrual status during the fourth quarter.