latest news releases from the newsroom
TelVue Corporation and Troxell Communications Partner On Education Technology Market
MT. LAUREL, N.J., March 12, 2009 (GLOBE NEWSWIRE) -- TelVue Corporation (OTCBB:TEVE) has announced a formal relationship with Troxell Communications, a nationwide reseller and distributor of audio-visual and video equipment to the K-12 and Higher Education marketplace. Troxell will resell all TelVue products and services, including the flagship TelVue Princeton(tm) digital broadcast server line, the WEBUS(r) multi-user bulletin board and digital signage service and PEG.TV(tm), an internet based Video-on-Demand and Live Streaming Video service.
Ocwen Financial Corp.
Ocwen Financial Corporation Announces Fourth Quarter and 2008 Financial Results
WEST PALM BEACH, Fla., March 12, 2009 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation ("Ocwen" or the "Company") (NYSE:OCN) today reported a net loss of $3.7 million or $0.06 per share for the fourth quarter of 2008 which includes after-tax losses of $14.7 million (pre-tax $23.8 million) primarily driven by fair value adjustments for unrealized losses on trading securities and investments. This compares to a loss of $6.9 million or $0.11 per share for the fourth quarter of 2007. Pre-tax loss from continuing operations was $2.8 million for the fourth quarter of 2008 as compared to $13.1 million for the fourth quarter of 2007. For the year ended December 31, 2008, net income was $17.9 million or $0.29 per diluted share as compared to $38.6 million or $0.58 per diluted share for 2007.
Energy XXI Partially Monetizes Hedges
HOUSTON, March 12, 2009 (GLOBE NEWSWIRE) -- Energy XXI (Bermuda) Limited (Nasdaq:EXXI) (AIM:EXXI) today announced the early settlement of certain oil and natural gas hedges. Net proceeds of $66.5 million are expected to be used to reduce borrowings under the company's secured revolving credit facility. Concurrent with the early settlements, Energy XXI re-hedged all of the related volumes.