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CAI International, Inc. Reports a Fourth Quarter Non-Cash Goodwill Impairment Charge and Estimated Results
SAN FRANCISCO, Feb. 9, 2009 (GLOBE NEWSWIRE) -- CAI International, Inc. (CAI) (NYSE:CAP) announced today that it will record a fourth quarter non-cash charge of $50.2 million for impairment of goodwill in accordance with Statement of Financial Accounting Standards (SFAS) 142 "Goodwill and Other Intangible Assets." As a result of the $50.2 million impairment charge, CAI expects to incur a net loss of $44.8 million to $44.6 million for the fourth quarter of 2008. The goodwill charge resulted from the Company's annual testing of goodwill and was primarily a result of the material decline in the market value of the Company's equity during the fourth quarter of 2008. The impaired goodwill was associated with the Company's acquisition of its shares from Interpool Inc in October, 2006. The Company does not expect that the non-cash charge will have an impact on its financial condition or affect the performance covenants in its debt agreements.
Acura Pharmaceuticals, Inc.
Acura Pharmaceuticals, Inc. Names Albert W. Brzeczko, Ph.D. VP, Technical Affairs
PALATINE, Ill., Feb. 9, 2009 (GLOBE NEWSWIRE) -- Acura Pharmaceuticals, Inc. (Nasdaq:ACUR) announced that Albert W. Brzeczko, Ph.D. has been named the Company's Vice President, Technical Affairs effective February 9, 2009. From 1999 through 2009, Dr. Brzeczko was Vice President, Global Pharma New Product Development and Pharma Technologies for International Specialty Products, Inc., a contract services group specializing in the development of technologies for the bioenhancement of poorly soluble drugs. Prior to 1999, Dr. Brzeczko held various positions of increasing responsibility in pharmaceutical product development with UPM Pharmaceuticals, Banner Pharmacaps, Mylan Laboratories, and DuPont Merck. Dr. Brzeczko received a Bachelor of Science degree in biochemistry and a Ph.D. in pharmaceutical sciences from the University of Maryland.