latest news releases from the newsroom
Ultrapetrol (Bahamas) Limited
Ultrapetrol Reports Financial Results for First Quarter 2010
NASSAU, Bahamas, May 13, 2010 (GLOBE NEWSWIRE) -- Ultrapetrol (Bahamas) Limited (Nasdaq:ULTR), an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business and Ocean Business), today announced financial results for the first quarter ended March 31, 2010.
Alta Mesa Holdings, LP
Alta Mesa Holdings, LP Announces Completion of Merger With Meridian Resource Corporation
HOUSTON, May 13, 2010 (GLOBE NEWSWIRE) -- Alta Mesa Holdings, LP announced today the completion of its merger with Meridian Resource Corporation. Approximately 67.6% of Meridian's outstanding shares were voted in favor of the merger. Under the terms of the merger agreement, Meridian's pre-closing stockholders are entitled to receive $0.33 in cash for each share of common stock that they owned immediately prior to the effective time of the merger. Pre-closing stockholders who held shares through a bank or broker will not have to take any action to have their shares converted into cash, as such conversions will be processed with the paying agent by the bank or broker. Letters of transmittal allowing Meridian's pre-closing registered stockholders of record to deliver their shares to the paying agent in exchange for payment of the merger consideration will be distributed shortly. With the closing of the transaction, The Meridian Resource Corporation (TMR) stock will no longer trade on the NYSE and will be delisted.
Orion Energy Systems, Inc.
Orion Energy Systems, Inc. Announces Fiscal 2010 Fourth Quarter and Year End Results
MANITOWOC, Wis., May 13, 2010 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NYSE Amex:OESX), a power technology enterprise that designs, manufactures and deploys energy management solutions for the commercial and industrial sectors, today announced financial results for its fourth quarter and 2010 fiscal year ended March 31, 2010.
State Bancorp, Inc.
State Bancorp, Inc. Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
JERICHO, N.Y., May 13, 2010 (GLOBE NEWSWIRE) -- State Bancorp, Inc. (Nasdaq:STBC) (the "Company"), parent company of State Bank of Long Island (the "Bank"), announced that on May 13, 2010, the Company granted an inducement award of 26,777 shares of restricted common stock, par value $.01 per share, of the Company (the "restricted stock") to Thomas A. Iadanza, newly appointed Chief Lending Officer of the Bank. The restricted stock will vest over five years, with one third to vest on the third anniversary of the award date, one third to vest on the fourth anniversary of the award date and the remainder to vest on the fifth anniversary of the award date. Mr. Iadanza will have the right to receive dividends on the restricted stock and direct the voting of such shares. Until fully vested, the restricted stock shall be subject to transfer restrictions and to forfeiture under certain circumstances, including breach of certain restrictive covenants set forth in the restricted stock award agreement and termination of employment other than due to death or disability. The Company has today also filed a Form 8-K related to the restricted stock award agreement with the Securities and Exchange Commission. The restricted stock award was granted to Mr. Iadanza as an "inducement material to employment with the Company," as contemplated by NASDAQ Listing Rule 5635(c)(4) and this press release is being made pursuant to such rule.
Cyclacel Pharmaceuticals Reports Financial Results for First Quarter 2010
BERKELEY HEIGHTS, N.J., May 13, 2010 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP), a biopharmaceutical company developing oral therapies that target the various phases of cell cycle control for the treatment of cancer and other serious disorders, today reported its financial results and business highlights for the first quarter ended March 31, 2010. The net loss for the first quarter was $5.1 million, or $0.18 per basic and diluted share. This compared to a net loss of $5.1 million, or $0.26 per basic and diluted share, for the same period in 2009. As of March 31, 2010, cash and cash equivalents totaled $24.2 million.
Hallmark Financial Services, Inc.
Hallmark Financial Services, Inc. Announces First Quarter 2010 Earnings Results
FORT WORTH, Texas, May 13, 2010 (GLOBE NEWSWIRE) -- Hallmark Financial Services, Inc. (Nasdaq:HALL) ("Hallmark") today reported first quarter 2010 net earnings of $6.3 million compared to $6.8 million reported for first quarter 2009. On a fully diluted basis, first quarter 2010 net earnings were $0.31 per share as compared to $0.33 per share for the first quarter of 2009. Total revenues were $75.8 million for the first quarter 2010 as compared to $70.9 million for the first quarter of 2009.