latest news releases from the newsroom
Firstbank Corporation Announces First Quarter 2007 Results
ALMA, Mich., April 23, 2007 (PRIME NEWSWIRE) -- Thomas R. Sullivan, President and Chief Executive Officer of Firstbank Corporation (Nasdaq:FBMI), announced earnings per share of $0.41 for the first quarter of 2007, an increase of 10.8% compared to $0.37 for the first quarter of 2006. Net income was $2,658,000 for the quarter ended March 31, 2007, up 9.7% from the $2,424,000 for the quarter ended March 31, 2006. Returns on average assets and average equity for the first quarter of 2007 were 1.01% and 11.4%, respectively, compared with 0.96% and 10.8%, respectively, in the first quarter of 2006. Reversal of provision for loan loss expense due to the payoff of a credit with specific reserves was the primary reason for the improved financial results. Decline in the net interest margin and continued weak mortgage and real estate activity would have led to earnings and profitability measures weaker than the prior year were it not for the provision reversal. All per share amounts are fully diluted and have been adjusted to reflect the 5% stock dividend paid in December of 2006.
NetManage Names Omer Regev Chief Financial Officer
CUPERTINO, Calif., April 23, 2007 (PRIME NEWSWIRE) -- NetManage, Inc. (Nasdaq:NETM), a software company that provides solutions for integrating, Web enabling and accessing enterprise information systems, today announced that Omer Regev has been named Chief Financial Officer (CFO). Regev brings more than 15 years of experience in global financial management, private equity, mergers and acquisitions, financial restructurings, R&D support grants as well as investment banking services to NetManage.
NetManage to Report First Quarter 2007 Results Monday, May 14, 2007
CUPERTINO, Calif., April 23, 2007 (PRIME NEWSWIRE) -- NetManage, Inc. (Nasdaq:NETM), a leading software company that provides solutions for integrating, Web enabling and accessing enterprise information systems, will announce the Company's first quarter 2007 financial results on Monday, May 14, 2007.
PSB Group, Inc.
PSB Group, Inc. Announces Second-Quarter Dividend
MADISON HEIGHTS, Mich., April 23, 2007 (PRIME NEWSWIRE) -- The Board of Directors of PSB Group, Inc. (OTCBB:PSBG), the bank holding company for Peoples State Bank, a Michigan state-chartered bank with offices in Wayne, Oakland, Macomb and Genesee Counties, declared the payment of a quarterly cash dividend of $0.18 per share to Shareholders of Common Stock.
Radyne Reports Near Record Bookings
PHOENIX, April 23, 2007 (PRIME NEWSWIRE) -- Radyne Corporation (Nasdaq:RADN) today reported quarterly bookings of $35.4 million, the second strongest bookings quarter in the company's history. Bookings for the first quarter of 2006 were $32.7 million. Backlog at quarter end stood at $31.1 million.
KNBT Bancorp, Inc. Increases Quarterly Cash Dividend
LEHIGH VALLEY, Pa., April 23, 2007 (PRIME NEWSWIRE) -- KNBT Bancorp, Inc. (Nasdaq:KNBT), the holding company for Keystone Nazareth Bank & Trust Company (the "Bank"), today announced that the board of directors has authorized an increase in the regular quarterly cash dividend.
Paul Mueller Company
Mueller Reaches Agreement On New Labor Contract
SPRINGFIELD, Mo., April 23, 2007 (PRIME NEWSWIRE) -- Paul Mueller Company (Pink Sheets:MUEL) signed a new three-year agreement with the Sheet Metal Workers Union Local 208 on April 23, 2007, after several weeks of negotiations. The new contract contains wage increases, improved benefits, and provisions that the Company expects will help it to achieve better utilization of manpower.