latest news releases from the newsroom
StockerYale Reports Second-Quarter 2009 Financial Results
SALEM, N.H., July 27, 2009 (GLOBE NEWSWIRE) -- StockerYale, Inc. (OTCBB:STKR), a leading designer and manufacturer of structured light lasers, LED modules and specialty optical fibers for industrial OEMs, medical and defense markets, today announced its financial results for the second quarter ended June 30, 2009.
Bidz.com, Inc. to Report Second Quarter 2009 Financial Results and Host a Conference Call On Wednesday, August 12
CULVER CITY, Calif., July 27, 2009 (GLOBE NEWSWIRE) -- Bidz.com, Inc. (Nasdaq:BIDZ), a leading online retailer of jewelry, today announced that second quarter 2009 financial results will be released after market close on Wednesday, August 12, 2009 and will be followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific time).
First Citizens BancShares Inc.
First Citizens BancShares Declares Dividend
RALEIGH, N.C., July 27, 2009 (GLOBE NEWSWIRE) -- The Board of Directors of First Citizens BancShares Inc. (Nasdaq:FCNCA) today declared a quarterly dividend of 30 cents per share on the Class A and Class B common stock. The dividend is payable Oct. 5, 2009, to shareholders of record Sept. 21, 2009.
First Citizens BancShares Inc.
First Citizens Reports Earnings for Second Quarter 2009
RALEIGH, N.C., July 27, 2009 (GLOBE NEWSWIRE) -- First Citizens BancShares Inc. (Nasdaq:FCNCA) reports earnings for the quarter ending June 30, 2009, of $6.2 million, compared to $26.2 million for the corresponding period of 2008, according to Frank B. Holding Jr., chairman of the board. The decrease in net income during 2009 was the result of higher provision for loan and lease losses, increased deposit insurance expense and lower revenues.
Levi & Korsinsky, LLP
Levi & Korsinsky LLP Investigates Board of Varian, Inc.
NEW YORK, July 27, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of Varian, Inc. ("Varian" or the "Company") (Nasdaq:VARI) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Agilent Technologies Inc. ("Agilent") (NYSE:A). Under the terms of the agreement, each Varian shareholder will receive $52 of cash for each share of Varian they own for a total transaction value of approximately $1.5 billion. The Company agreed to refrain from soliciting competing offers that may be superior than the Agilent offer and also agreed to pay Agilent a termination fee of $46.0 million in the event the agreement is terminated under certain circumstances. The investigation concerns whether the Varian Board of Directors breached their fiduciary duties to Varian shareholders by failing to conduct an open and fair auction process for the Company.
Old Line Bancshares, Inc.
Old Line Bancshares, Inc. Repays TARP Investment and Announces Net Income Available to Common Stockholders of $857 Thousand Dollars for the First Six Months of 2009
BOWIE, Md., July 27, 2009 (GLOBE NEWSWIRE) -- James W. Cornelsen, President and Chief Executive Officer of Old Line Bancshares, Inc. (Nasdaq:OLBK), the parent company of Old Line Bank, reported that net income attributable to Old Line Bancshares, Inc. increased $120,728 or 12.82% for the six months ended June 30, 2009 to $1,062,385 from $941,657 for the six months ended June 30, 2008. After inclusion of the dividends and accretion on the preferred stock issued under the U.S. Treasury Department's Capital Purchase Program in December 2008, net income available to common stockholders for the six month period was $857,241. Earnings per basic and diluted common share were $0.22 for the six months ended June 30, 2009 and $0.24 for the same period in 2008. The 12.82% increase in net income for the six month period was primarily the result of an $873,882 increase in net interest income. This increase derived from a $37.2 million or 17.94% increase in average net loans outstanding during the period as Old Line Bank's net interest margin declined 20 basis points to 3.70% from 3.90% for the six months ended June 30, 2008. We also had an approximately $167,000 increase in pre-tax earnings from our majority owned subsidiary Pointer Ridge Office Investments, LLC and an approximately $158,000 gain from sale on investments. These increases were partially offset by a $385,000 increase in the loan loss provision from $165,000 to $550,000 and increased operating expenses associated with the operations of our College Park and Annapolis branches that opened in February and September 2008, respectively. During the six month period, we incurred a $255,130 increase in FDIC insurance premiums inclusive of a $149,748 special assessment. The increase in earnings from Pointer Ridge derived from a non-recurring lease termination fee recorded in the 1st quarter of 2009. In an effort to minimize call and pre-payment risk and manage future interest rate risk, we elected to sell available-for-sale securities during the period, resulting in the $158,000 gain on the sale of investments. We did not sell any available-for-sale securities during the six months ended June 30, 2008.