latest news releases from the newsroom
Eurand Announces Conference Call On Second Quarter 2008 Financial Results
AMSTERDAM, The Netherlands, July 18, 2008 (PRIME NEWSWIRE) -- Eurand N.V. (Nasdaq:EURX), a specialty pharmaceutical company that develops, manufactures and commercializes enhanced pharmaceutical and biopharmaceutical products based on its proprietary drug formulation technologies, will host a conference call on Thursday, August 7, 2008 at 8:30 AM ET to discuss its second quarter 2008 financial results. The conference call will be hosted by Gearoid Faherty, Chief Executive Officer, and Mario Crovetto, Chief Financial Officer.
Donegal Group Inc.
Donegal Group Inc. Announces Second Quarter Earnings
MARIETTA, Pa., July 18, 2008 (PRIME NEWSWIRE) -- Donegal Group Inc. (Nasdaq:DGICA) (Nasdaq:DGICB) today reported that its net income for the quarter ended June 30, 2008 was $6,892,918, or $.28 per share of Class A common stock on a diluted basis, compared to $10,780,956, or $.43 per share of Class A common stock on a diluted basis, for the second quarter of 2007. Catastrophe losses in the Company's Midwestern and Southeastern regions impacted second quarter results. Pre-tax weather-related losses, net of reinsurance, totaled approximately $8 million for the second quarter of 2008.
Colony Bankcorp, Inc.
Colony Bankcorp, Inc. Announces Second Quarter Results
FITZGERALD, Ga., July 18, 2008 (PRIME NEWSWIRE) -- Colony Bankcorp, Inc. (Nasdaq:CBAN), today reported quarterly net income of $292,000 for the second quarter of 2008, down 89.19 percent from second quarter 2007 net income of $2,702,000, while net income for six months ended June 30, 2008 was $2,505,000, down 51.60 percent from six months ended June 30, 2007 of $5,176,000. The first half of 2008 has proven to be very challenging for Colony and the entire banking industry. The continued downturn of the housing and real estate market that began in 2007 and the economy in general has contributed to financial results well below our historic standards. Real estate loans originally extended for land development, construction, and resale required additional loan loss provisions during second quarter 2008. "Problem loans are centered primarily in land development in our larger MSA markets and we will maintain an aggressive posture with these types of credits. Our core earnings, along with manageable credit exposure in real estate dependent loans, allow us to work through this difficult economic period with a strong capital structure," said Al D. Ross, President and Chief Executive Officer.