latest news releases from the newsroom
Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions Announces First Quarter 2010 Financial Results
SAN DIEGO, April 29, 2010 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Defense, Information Technology, Assurance and Security Solutions provider, today reported first quarter 2010 revenues of $68.7 million, and pro forma EBITDA of $5.9 million or 8.6% of revenues. Kratos' EBITDA margin rate increased approximately 18% on a year over year basis from the first quarter of 2009, and approximately 8% sequentially, above the fourth quarter of 2009. Kratos' Government Solutions business segment, where Kratos primarily performs its Department of Defense and National Security work, generated first quarter pro forma EBITDA of 9.3%, and first quarter operating income of 6.5%, both also significantly above the previously reported fiscal quarter. Kratos' first quarter book-to-bill ratio was approximately 1.3 to 1, with total backlog of approximately $583 million, and a qualified bid and proposal pipeline of approximately $1.5 billion. Kratos does not include in either backlog or its bid and proposal pipeline any amounts related to IDIQ contracts, GWAC or similar multi award, contingent tasking contract vehicles for which tasking has not been received. First quarter non-GAAP pro forma earnings per share from continuing operations was $0.11, excluding approximately $2.2 million in interest expense for deferred financing costs which were written-off related to the Company obtaining a new credit facility during the quarter. For the first quarter, the Company reported GAAP loss from continuing operations of $0.4 million, or $0.02 per share.
Merit Medical Systems, Inc.
Merit Medical Announces 16% Increase in Sales for the Quarter Ended March 31, 2010
SOUTH JORDAN, Utah, April 29, 2010 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (Nasdaq:MMSI), a leading manufacturer and marketer of proprietary disposable medical devices used in interventional and diagnostic procedures, particularly in cardiology, radiology and gastroenterology, today announced sales of $67.4 million for the quarter ended March 31, 2010, an increase of 16% over sales of $58.4 million for the first quarter of 2009.
FNB United Corp. Announces First Quarter Results
ASHEBORO, N.C., April 29, 2010 (GLOBE NEWSWIRE) -- FNB United Corp. (Nasdaq:FNBN), the holding company for CommunityOne Bank, N.A., and its wholly owned subsidiary, Dover Mortgage Company, today reported that following a $9.5 million provision to the allowance for loan losses, the Company had a net loss of $5.1 million, or $0.45 per diluted share, for the first quarter of 2010, compared to a net loss of $6.2 million, or $0.54 per diluted share, for the first quarter of 2009. The provision for loan losses increased the total allowance for loan losses to total loans ratio to 3.61% from 3.17% at December 31, 2009.
Simmons First National Corporation
Simmons First to Present at Gulf South Bank Conference
PINE BLUFF, Ark., April 29, 2010 (GLOBE NEWSWIRE) -- Simmons First National Corporation (Nasdaq:SFNC) today announced that J. Thomas May, Chairman and Chief Executive Officer, is scheduled to present at the Gulf South Bank Conference to be held May 5 – May 6, 2010 in New Orleans, Louisiana.