latest news releases from the newsroom
German American Bancorp, Inc.
German American Bancorp, Inc. (GABC) Reports Strong Quarterly and Year-to-Date Earnings
JASPER, Ind., July 27, 2009 (GLOBE NEWSWIRE) -- German American Bancorp, Inc. (Nasdaq:GABC) today reported yet another quarter of strong earnings. During the 2nd quarter, the Company earned $2,764,000, or $0.25 per share with 2009 year-to-date reported earnings of $5,706,000, or $0.52 per share. Although 2009 reported earnings were less than the record levels of net income earned in 2008, the earnings difference is directly attributable to an increased level of deposit insurance premiums during 2009. Exclusive of the additional $860,000 ($519,000 after-tax cost) of deposit insurance premium expense in the 2nd quarter of 2009, and the additional $1,169,000 ($706,000 after-tax cost) of deposit insurance premium expense recorded during the first six months of 2009 (compared to that expensed during the same quarter and year-to-date period of 2008), 2009 2nd quarter non-GAAP earnings would have been $3,283,000, or $0.30 per share, approximately 6% greater than last year's record 2nd quarter earnings of $3,111,000, or $0.28 per share, and 2009 year-to-date non-GAAP earnings would have been $6,412,000, or $0.58 per share, representing a 5% improvement from the 2008 year-to-date reported earnings of $6,131,000, or $0.55 per share. For reconciliation of non-GAAP earnings and earnings per share, see "Regulation G Disclosure" below.
Finkelstein Thompson LLP
Finkelstein Thompson LLP Announces Investigation of Medarex, Inc. Tender Offer
WASHINGTON, July 27, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential shareholder claims arising from the tender offer by which the board of directors of Medarex, Inc. ("Medarex" or the "Company") (Nasdaq:MEDX) has agreed to sell the Company to Bristol-Myers Squibb ("Bristol-Meyers"). Under the terms of the offer, Medarex shareholders will receive $16.00 per share in cash -- valuing the sale at $2.4 billion. The tender offer price is well below Medarex' peak historical share price and appears to be timed to take advantage of widespread depressed equities prices due to the global economic downturn.
Meritage Homes Corporation
Meritage Homes Reports Second Quarter 2009 Results
SCOTTSDALE, Ariz., July 27, 2009 (GLOBE NEWSWIRE) --Meritage Homes Corporation (NYSE:MTH), a leading U.S. homebuilder, today announced second quarter results for the period ended June 30, 2009.
Lydall Second Quarter and Six Months Ended June 30, 2009 Earnings Release and Conference Call Scheduled for August 3, 2009
MANCHESTER, Conn., July 27, 2009 (GLOBE NEWSWIRE) -- Lydall, Inc. (NYSE:LDL) announced today that it will release its financial results for the second quarter and six months ended June 30, 2009 on Monday, August 3, 2009 before the market opens. A conference call, hosted by Dale G. Barnhart, President and Chief Executive Officer, and Thomas P. Smith, Vice President, Chief Financial Officer and Treasurer, will be held at 10:00 a.m. Eastern Time on that day.
North American Energy Resources, Inc.
North American Energy Resources, Inc. Enters Into Letter of Intent to Acquire 120-Acre Leasehold and Well Interest From Alt Energy, Inc.
AUSTIN, Texas, July 27, 2009 (GLOBE NEWSWIRE) -- North American Energy Resources, Inc. (OTCBB:NAEY) announced today that it has entered into a letter of intent to acquire 120 mineral acres in Washington County, Oklahoma. Currently there are 6 wells drilled on the property, 4 of which are currently shut in, but produce natural gas from the Mulkey Formation.
Orion Group Holdings, Inc.
Orion Marine Group Schedules Announcement of Second Quarter 2009 Results
HOUSTON, July 27, 2009 (GLOBE NEWSWIRE) -- Orion Marine Group, Inc. (NYSE:ORN) (the "Company") today announced it will release its financial results for the second quarter 2009 on Thursday, August 6, 2009, at approximately 4:00 a.m. Eastern Time/3:00 a.m. Central Time. The Company will conduct a telephone briefing at 10:00 a.m. Eastern Time/9:00 a.m. Central Time on Thursday, August 6, 2009, to discuss its results for the second quarter 2009.
Aries Maritime Transport Limited
Aries Maritime Transport Limited Amends Previously Announced Letter of Intent
ATHENS, Greece, July 27, 2009 (GLOBE NEWSWIRE) -- Aries Maritime Transport Limited (Nasdaq:RAMS) announced today that it has entered into an amendment to the previously announced letter of intent with Grandunion, Inc., a company controlled by Michael Zolotas and Nicholas Fistes. The letter of intent provides for a binding 60-day exclusivity period, presently expiring on August 23, 2009. The letter of intent also included a 30-day period for Grandunion, Inc. to procure an agreement with the Company's syndicate of lenders to make certain amendments to the Company's existing credit facility, which ended on July 24, 2009. The Company has waived this provision to permit negotiations with the syndicate of lenders to continue through the remainder of the 60-day exclusivity period.