latest news releases from the newsroom
American Physicians Service Group, Inc.
American Physicians Service Group, Inc. Reports Second Quarter Earnings
AUSTIN, Texas, Aug. 19, 2002 (PRIMEZONE) -- American Physicians Service Group, Inc. ("APS") (Nasdaq:AMPH) today announced results for the quarter and six months ended June 30, 2002. For the three months ended June 30, 2002, revenues increased to $6,353,000 from $5,995,000 in the year-ago period. Net earnings were $449,000 or $.19 per share, compared to $285,000 or $.10 per share, in the comparable year-ago period. For the six months ended June 30, 2002, revenues increased to $12,292,000 from $11,583,000 in the comparable year-ago period. Net earnings were $3,051,000 or $1.26 per share, compared to $410,000 or $.15 per share in the comparable year-ago period. Excluding non-recurring investment gains and asset sales, net of income taxes, net earnings increased 44% to $409,000 for the quarter and 73% to $710,000 for the six months ended June 30, 2002.
Delhaize Group Announces Management Change, Streamlines Senior Executive Team
BRUSSELS, Belgium, Aug. 19, 2002 (PRIMEZONE) -- Delhaize Group (Euronext Brussels:DELB) (NYSE:DEG), the Belgian international food retailer, announces the reorganization of its senior executive team in the United States. Rick Anicetti becomes Chief Executive Officer of Food Lion and Bill McCanless is named Vice Chairman of Delhaize America. The chief executives of the two key U.S. businesses will now report directly to Pierre-Olivier Beckers, Chief Executive Officer of Delhaize Group.
Murray, Frank & Sailer LLP
Rabin & Peckel LLP Commences Class Action Against American Express Company and Certain Officers and Directors Alleging Violations of Federal Securities Law -- AXP
NEW YORK, Aug. 19, 2002 (PRIMEZONE) -- A class action Complaint has been filed in the United States District Court for the Southern District of New York, civil action number 02 cv 6439, on behalf of all persons or entities who purchased securities of American Express Company ("American Express" or the "Company") (NYSE:AXP) between July 18, 1999 through July 17, 2001, both dates inclusive (the "Class Period"). American Express Company, Kenneth I. Chenault, Richard Karl Goeltz, Daniel T. Henry, Harvey Golub, David R. Hubers, Gary L. Crittenden, and James M. Cracchiolo are named as defendants in the complaint.
Statement by the AvestaPolarit Board Committee on Outokumpu's Share Redemption Offer
STOCKHOLM, Sweden, Aug. 19, 2002 (PRIMEZONE) -- The Board of Directors of AvestaPolarit Oyj Abp has today received the Finnish Financial Supervision Authority's decision to approve Outokumpu's redemption offer document. It has also received a statement from the Board Committee of independent directors, which was formed on 1 July 2002 to assess the Outokumpu redemption offer for all outstanding shares in AvestaPolarit. The Board Committee has concluded that it is not in a position to render a recommendation to the company's shareholders as to the redemption offer, particularly in view of the Finnish Financial Supervision Authority's decision, which, although approving the redemption offer document, contends the redemption offer price and argues that the calculation of the price should consider also the EUR 25 million paid by Outokumpu to Corus for the early termination of their Shareholders' Agreement.