latest news releases from the newsroom
SmallCap Sentinel: Picking a Mega-Partner
IRVINE, Calif., Aug. 13, 2007 (PRIME NEWSWIRE) -- "Often it can be most difficult to see the full value of an acquisition by the simple review of a business plan or pro forma," stated SmallCap Sentinel analyst D.R. Clark. "Other times, a quick review of the acquired company's current ownership gives a better indication of value. When investors in said company include a major conglomerate, perhaps it starts to explain the interest of the acquirer."
GenTek Inc. Announces Delay in Filing 10-Q and Postponement of Earnings Call
PARSIPPANY, N.J., Aug. 13, 2007 (PRIME NEWSWIRE) -- GenTek Inc. (Nasdaq:GETI) announced today that it had filed an extension of time to file its quarterly report on Form 10-Q for the second quarter, which was due to be filed last Thursday, August 9, 2007. The delay in filing was due primarily to the presentation of certain items in the Company's Statement of Cash Flows and to correct the impact of the implementation of FASB 158. As a result, the Company will file an amendment to the Company's annual report on Form 10-K and its quarterly report on Form 10-Q for the first quarter, 2007. These changes are being made to more accurately characterize the timing of cash flows from quarter to quarter and to properly reflect the impact of FASB 158 on comprehensive income. There will be no impact on the Company's reported earnings for 2006 or the first quarter of 2007 reflected in the amendments.
Bob Evans Farms, Inc.
Bob Evans Farms Announces First-Quarter Financial Results
COLUMBUS, Ohio, Aug. 13, 2007 (PRIME NEWSWIRE) -- Bob Evans Farms, Inc. (Nasdaq:BOBE) today announced financial results for the fiscal first quarter ended July 27, 2007. To view additional first quarter 2008 financial information, please see the Company's Current Report on Form 8-K filed in conjunction with this news release, or go to the Company's Web site at www.bobevans.com, click on Investors and then Company News and Events.
Silverstar Holdings, Ltd.
Silverstar Holdings to Present At the August Noble Financial Conference
BOCA RATON, Fla., Aug. 13, 2007 (PRIME NEWSWIRE) -- Silverstar Holdings Ltd. (Nasdaq:SSTR), a leading international publisher and developer of interactive entertainment software, has been invited to present at the Noble Financial Two Double-0-Seven Small Cap Conference and Micro Cap Symposium to be held at Charleston Place, Charleston, South Carolina, August 20 and 21, 2007. Silverstar's CEO and president, Clive Kabatznik, is scheduled to present on Tuesday, August 21, at 12:00 P.M. Eastern Time.
Pride International, Inc.
Pride International, Inc. Announces Agreement to Sell Its Three-Rig Tender-Assist Fleet
HOUSTON, Aug. 13, 2007 (PRIME NEWSWIRE) -- Pride International, Inc. (NYSE:PDE) today announced that it has signed a memorandum of agreement to sell its fleet of three self-erecting, tender-assist rigs to Ferncliff TIH AS of Norway for $213 million in cash. The sale is expected to close by January 2008, subject to the novation of drilling contracts on each unit and other customary closing conditions. Proceeds from the sale are expected to be utilized for general corporate and strategic purposes, including potential funding for the construction of the company's two ultra-deepwater drillships and other future growth opportunities.
Verso Technologies, Inc.
Verso Announces Second Quarter 2007 Financial Results
ATLANTA, Aug. 13, 2007 (PRIME NEWSWIRE) -- Verso Technologies, Inc. (Nasdaq:VRSO), a global provider of next generation network solutions, announced today its second quarter 2007 financial results. In addition, the company's management has announced that over the past five weeks it has reviewed the company's operations and has implemented a restructuring program. The company further announced that it has received a proposal from a large shareholder to provide the company with several million dollars of financing which would permit the company to pay all of the principal and accrued interest due during the next year on its outstanding convertible debt in cash. Historically, the company has made these payments through the issuance of the company's common stock. Further, the company has received several other financing proposals. The company is considering all of these proposals and expects to make a further announcement regarding these proposals by the end of the month. All financing transactions under consideration are consistent with the company's desire to increase financial flexibility, provide capital to meet obligations and execute on its business plan.