latest news releases from the newsroom
Kratos Defense & Security Solutions, Inc.
Kratos Defense & Security Solutions Announces Execution of Merger Agreement With San Diego-Based C5ISR and Net-Centric Warfare Solutions Provider SYS Technologies
SAN DIEGO, Feb. 21, 2008 (PRIME NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading national defense and security solutions provider, announced today that it has entered into a definitive merger agreement with San Diego-based C5ISR and net-centric warfare solutions provider SYS Technologies (AMEX:SYS) in a stock-for-stock transaction. Under the terms of the agreement, SYS will merge into Kratos and all of SYS's outstanding common shares will be converted into Kratos common shares. Upon closing, Kratos will issue approximately 25 million shares of its common stock. Approximately 79 million shares of Kratos common stock are currently outstanding. The transaction is subject to customary closing conditions, including approval of the transaction by SYS's shareholders and the approval of Kratos stockholders for Kratos' issuance of shares. The transaction is expected to close in the second quarter.
S2C Global Systems Inc.
S2C Global Negotiates First Atmospheric Water Bottling Plant
LAS VEGAS, Feb. 21, 2008 (PRIME NEWSWIRE) -- S2C Global Systems (OTCBB:STWG) (http://www.s2cglobal.com) has brought Convergitech, Inc. and AVC Canada Corporation together to initiate the first atmospheric water bottling plant in Africa and the second in the world. S2C previously announced (September 20, 2007) its first stage agreement with AVC Canada to provide its Aquaduct system to AVC's "Agua Cuilo" bottling plant in Luanda, Angola, and its supply agreement with Convergitech (January 31st, 2008). S2C facilitated an agreement whereby Convergitech acquires AVC Canada's 80% interest in Agua Cuilo, and agrees to fund the completion of the bottling plant including the related costs of the S2C Aquaduct system.
School Specialty, Inc.
School Specialty Reports Fiscal 2008 Third Quarter Results
GREENVILLE, Wis., Feb. 21, 2008 (PRIME NEWSWIRE) -- School Specialty (Nasdaq:SCHS), a leading education company providing supplemental learning products to the preK-12 market, today reported fiscal 2008 third quarter and fiscal year-to-date financial results. Revenue for the third quarter was $134.8 million, an all-time high for the period and 4.7 percent above the prior-year's third quarter. Loss per share from continuing operations was 95 cents, reflecting the seasonally low period for educational product sales and increased selling, general and administrative (SG&A) expense as compared to the prior year. For the prior-year third quarter, the company reported a loss per share from continuing operations of 79 cents. Revenue for the nine-month period of fiscal 2008 rose 4.2 percent to a record $914.3 million, compared to $877.1 million in the same period last year. Diluted earnings per share from continuing operations rose 25.2 percent in the first nine months to $2.78 compared to $2.22 in the prior year.