latest news releases from the newsroom
Value Line, Inc.
Value Line, Inc. Announces Third Quarter Earnings
NEW YORK, March 17, 2006 (PRIMEZONE) -- Value Line, Inc. (Nasdaq:VALU) reported results for its third fiscal quarter ended January 31, 2006. Operating income of $25,670,000 for the nine months ended January 31, 2006 was 38% above operating income of $18,550,000 for the same period of the last fiscal year. Operating income of $8,037,000 for the three months ended January 31, 2006 was 25% above operating income of $6,437,000 for the same period of last fiscal year. For the third quarter of fiscal 2006, income from securities of $2,858,000 was 159% above last fiscal year's third quarter income. For the nine months ended January 31, 2006, the Company's income from securities transactions was $3,571,000 compared to income from securities transactions of $8,033,000 for the same period of the last fiscal year. The first nine months of the prior fiscal year included capital gains that resulted from partial sales of the Company's equity securities in preparation for payment of a special dividend of $17.50 per common share during the first quarter of fiscal 2005.
Izard Nobel LLP
Schatz & Nobel, P.C. Announces Class Action Lawsuit Against PHH Corporation -- PHH
HARTFORD, Conn., March 17, 2006 (PRIMEZONE) -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of New Jersey on behalf of all persons who purchased or otherwise acquired the publicly traded securities of PHH Corporation ("PHH" or the "Company") (NYSE:PHH) between May 12, 2005 and March 1, 2006, inclusive (the "Class Period").
Spring Shape-Ups for Your Car!
RIDGEWOOD, N.J., March 17, 2006 (PRIMEZONE) -- After a long, hard winter, not only your soul needs rejuvenating -- so does your vehicle! It's important to get your car back in tip-top shape after a season of cold and snow and get it prepared for the warmer months ahead!
Credit Acceptance Corporation
Credit Acceptance Corporation Announces Final Results of Its Modified Dutch Auction Tender Offer
SOUTHFIELD, Mich., March 17, 2006 (PRIMEZONE) -- Credit Acceptance Corporation (Pink Sheets:CACC) (the "Company") announced the final results of its modified Dutch auction tender offer, which expired at 5:00 p.m. Eastern Standard Time, on March 13, 2006. Credit Acceptance commenced the tender offer on February 10, 2006, to purchase up to 5,000,000 shares of its common stock at a price between $21.00 and $25.00 per share, net to the seller in cash, without interest. Based on the final count by Computershare Trust Company of New York, the depositary for the tender offer, 4,129,735 shares of common stock were properly tendered and not withdrawn at prices between $21.00 and $25.00 per share. The final count of shares purchased is more than the amount communicated in the Company's preliminary announcement on March 14, 2006, by 75,994 shares. Credit Acceptance has purchased all of the 4,129,735 tendered shares of its common stock at a price of $25.00 per share, at a total cost of approximately $103.2 million. The Company financed the purchase of its securities in the tender offer by borrowing under its $135.0 million revolving credit facility and $325.0 million revolving warehouse facility.
Wataire Industries Inc.
Wataire Industries, Inc. Featured on Azteca Television Mexico
VANCOUVER, British Columbia, March 17, 2006 (PRIMEZONE) -- Wataire Industries Inc. (Pink Sheets:WTAF) will be featured on Azteca television channel 13 on Friday, March 17 evening news. The news show "Hechos de Lanoche" (Fact for the night) will feature Wataire at the World Water Forum. The interview will be conducted by Mr. Mauricio Samieto, Wataire's representative through Tecno Alto Distribucion Mexico. The news show creates exposure to approximately 25 million viewers in Mexico City.