latest news releases from the newsroom
Advanced Control Systems
Advanced Control Systems Responds to Severe Midwest Floods With Record Breaking Delivery Time for ITC Midwest
ATLANTA, Aug. 14, 2008 (PRIME NEWSWIRE) -- Advanced Control Systems, Inc. (ACS), a leading provider of smart grid automation and system solutions to global utilities, recently completed an expedited delivery of two ACS substation automation systems to ITC Midwest LLC, a subsidiary of ITC Holdings Corp. (NYSE:ITC), in Cedar Rapids, Iowa. In response to the widespread flooding that overtook Eastern Iowa in early June, ACS accelerated the design, configuration and delivery of replacement systems to ITC Midwest from a normal schedule of 90 days to less than 10 working days.
Silverstar Holdings, Ltd.
Atari, Inc. and Empire Interactive Sign Multi-Year Distribution Agreement
NEW YORK and BOCA RATON, Fla., Aug. 14, 2008 (PRIME NEWSWIRE) -- Atari, Inc. (Pink Sheets:ATAR), an interactive entertainment company, and Empire Interactive, an international publisher and developer of interactive entertainment software and a subsidiary of Silverstar Holdings (Nasdaq:SSTR) have entered into a multi-year exclusive distribution agreement. The announcement was made today by Jim Wilson, President and CEO of Atari, Inc. and Karim Farghaly, Vice President of Sales for Empire Interactive.
DARA BioSciences, Inc.
DARA BioSciences Plans to Restate Financial Statements for the Quarter Ended March 31, 2008 to Reflect Increased Valuation of Investment
RALEIGH, N.C., Aug. 14, 2008 (PRIME NEWSWIRE) -- DARA BioSciences, Inc. (Nasdaq:DARA) reported today that it expects to restate its financial statements for the quarter ended March 31, 2008, to reflect the reclassification of certain shares representing an investment as available-for-sale. As a result of this reclassification these shares will be valued at fair value at the balance sheet date, instead of at cost. The restatement is expected to increase the value of these shares as reflected on the balance sheet as of March 31, 2008, by approximately $2,196,000, and also add other accumulated comprehensive income to the balance sheet in the same amount. The restatement is not expected to have an impact on any other balance sheet or income statement items.
Delta Seaboard International, Inc.
Hammonds Industries, Inc. Reports 15 Percent Increase in Revenues for the Six Months Ended June 30, 2008 Vs. June 30, 2007
HOUSTON and KEMAH, Texas, Aug. 14, 2008 (PRIME NEWSWIRE) -- Ms. Sherry Couturier, Chief Financial Officer of Hammonds Industries, Inc. (OTCBB:HMDI), a subsidiary of American International Industries, Inc. (Nasdaq:AMIN), said that the Company reported revenues of $4,625,928 for the six months ended June 30, 2008, compared to $4,037,175 in the prior year, an increase of $588,753, or 15%. The increase in revenues was due to higher demand for Hammonds Water Treatment products and increased sales of Hammonds Technical Services' transport mounted injection systems and Hammonds' line of Omni Directional Vehicles (ODVs(r)). Hammonds Water Treatment revenues increased by $157,208, or 10%, and Hammonds Technical Services revenues increased by $466,564, or 24%. The Company reported revenues of $2,420,771 for the three months ended June 30, 2008, compared to $2,417,776 for the same period in the prior year. Hammonds projected backlog of orders is $3.1 million as of June 30, 2008. The backlog is principally comprised of orders for injectors and skids. This backlog, as well as the increasing acceptance of our existing products and prospects for introduction of our technology in new markets, has the Company on track for substantial revenue growth for 2008 and 2009. Additionally, Hammonds is building the infrastructure and prototypes for new products in anticipation of a major business expansion and is bidding on a large contract for the United States Army.
American International Industries, Inc.
American International Industries, Inc. Reports 35 Percent Increase in Revenues for the Three Months Ended June 30, 2008 vs. June 30, 2007
HOUSTON and KEMAH, Texas, Aug. 14, 2008 (PRIME NEWSWIRE) -- American International Industries, Inc. (Nasdaq:AMIN) (the "Company"), reported revenues of $9,496,061 for the three months ended June 30, 2008, compared to $7,027,294 for the same period in the prior year, representing an increase of $2,468,767, or 35%. The increase in revenues is primarily due to higher pipe sales at Delta of $2,210,152 due to increased drilling activity creating greater demand for well services and pipe. For the six months ended June 30, 2008, the Company increased revenues by $1,572,259, or 12%, to $15,212,123, compared to $13,639,864 for the same period in the prior year. Revenues increased at Delta by $1,507,123 primarily due to higher pipe sales and at Hammonds by $588,753 due to greater demand for Hammonds Water Treatment products and increased sales of Hammonds Technical Services' transport mounted injection systems and Hammonds' line of Omni Directional Vehicles (ODVs(r)). Revenues at NPI were lower by $523,617 due to an overstock position from the 2007 holiday season from one large customer.
LGL Group, Inc.
The LGL Group, Inc. Reports Results for the Quarter Ended and Six Months Ended June 30, 2008
ORLANDO, Fla., Aug. 14, 2008 (PRIME NEWSWIRE) -- The LGL Group, Inc. (AMEX:LGL) (the "Company"), today announced results for the quarter ended and the six months ended June 30, 2008. LGL is the holding company for MtronPTI, an enterprise that specializes in developing highly engineered, custom made products for advanced frequency control applications.
Taitron Components, Inc
Taitron Receives Deficiency Notice Related to NASDAQ Minimum Bid Price Rule
LOS ANGELES, Aug. 14, 2008 (PRIME NEWSWIRE) -- Taitron Components Incorporated (Nasdaq:TAIT), announced today that on August 13, 2008, the Company received written notification from NASDAQ that for the last 30 consecutive business days, the bid price of the Company's Class A common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4310(c)(4) (the "Rule"). Therefore, in accordance with Marketplace Rule 4310(c)(8)(D), the Company will be provided 180 calendar days, or until February 9, 2009, to regain compliance with respect to the bid price deficiency. If, at any time before February 9, 2009, the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the bid price deficiency can be satisfied. The Company intends to actively monitor the bid price for its common stock between now and February 9, 2009, and will consider available options.
Power Medical Interventions, Inc.
Power Medical Interventions, Inc. Appoints Mary Kay Scucci to Board of Directors
LANGHORNE, Pa., Aug. 14, 2008 (PRIME NEWSWIRE) -- Power Medical Interventions(r), Inc. (Nasdaq:PMII), a leader in developing and commercializing Intelligent Surgical Instruments(tm), announced today that Mary Kay Scucci, CPA, MBA, Ph.D, has been appointed to the Company's Board of Directors. Ms. Scucci had previously served as served as Chief Financial Officer of the Company from 2000 to 2001. Ms. Scucci was also elected as a member of the audit and nominating committees and will replace David Murray, who resigned from the Board of Directors, effective with Ms. Scucci's appointment.
Amen Properties Inc.
Amen Properties Reports Second Quarter 2008 Results
MIDLAND, Texas, Aug. 14, 2008 (PRIME NEWSWIRE) -- Amen Properties (Nasdaq:AMEN) today announced financial results for its fiscal 2008 second quarter ended June 30, 2008. For the quarter, the Company posted a loss of $977 thousand compared to net income of $508 thousand in the same quarter last year. The significant drop in earnings from last year was caused by a loss of $1.3 million related to the discontinued operations of W Power. The Company had previously announced its intention to exit the retail electricity business due to recent volatility and increases in commodity prices. The loss posted by W Power was caused by a provision for the estimated cost of settling the unit's energy contracts and transferring its customers to another provider as well as a true-up in the estimate for unbilled revenue.
How to Face Life's Challenges -- New Book is An Invigorating Tonic to Help Us Face Life With Zest and Vitality
MIAMI, Fla., Aug. 14, 2008 (PRIME NEWSWIRE) -- Too often in the mornings we may find it hard to get out of bed, knowing we face yet another dreary day. There are problems to be solved and many decisions to be made. No wonder some people who do not know how to cope develop adjustment problems. But if there was a book that could provide effective guidelines to help you have a more fulfilling life, would you want to read it? If yes, then let Edouard Marzouka show you the way towards a more zestful and contented living with his inspiring book The Challenges of Life.