latest news releases from the newsroom
Wolverine Tube Inc.
Wolverine Tube Announces Third Quarter Results
HUNTSVILLE, Ala., Nov. 1, 2006 (PRIMEZONE) -- Wolverine Tube, Inc. (NYSE:WLV), today reported its results for the third quarter of 2006. Net loss for the quarter ended October 1, 2006 was $49.5 million, or $3.29 per share, as compared to a net loss of $11.2 million, or $0.74 per share, in the third quarter of 2005. Included in the net loss for the third quarter of 2006 is $44.3 million of after-tax restructuring and other nonrecurring charges. Of these charges, $42.5 million relates to the planned closure of our manufacturing facilities located in Jackson, Tennessee and Montreal, Quebec and the consolidation of our U.S. wholesale distribution facility into the Decatur, Alabama plant as announced on September 13, 2006. The remaining $1.8 million was attributed to nonrecurring professional advisory fees incurred in conjunction with our strategic planning and balance sheet restructuring efforts. In the third quarter of 2005, we recorded an after-tax restructuring charge of $1.2 million. Comparatively, excluding these charges, the net loss would have been $5.2 million, or $0.35 per share, for the third quarter of 2006 and a loss of $10.0 million, or $0.66 per share in the third quarter of 2005.
Ocwen Financial Corp.
Ocwen Financial Corporation Names New Chief Accounting Officer
WEST PALM BEACH, Fla., Nov. 1, 2006 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) today announced that Robert J. Leist, Jr., the company's Senior Vice President and Chief Accounting Officer, resigned from his position as Chief Accounting Officer effective October 31, 2006 and will retire from the company at the end of January 2007. Mr. Leist has been with the company since March 1999 and will assist in the transition of his responsibilities to his successor until his retirement becomes effective on January 31, 2007.
Smartstox.com Highlights Uranium Exploration Companies
VANCOUVER, British Columbia, Nov. 1, 2006 (PRIMEZONE) -- Near-term uranium supply took a hit last week as Cameco Corp.'s rich Cigar Lake mine, scheduled to begin production in about a year, flooded out. That's knocked the mine's anticipated 7 million pounds in 2008 (to be 18 million pounds two years later -- more than 10% of the world's primary production) out of the supply equation. The project has been set back by at least a year, and it could turn out to be much longer.
Meritage Homes Corporation
Meritage Homes Corporation to Present At UBS Building and Building Products Conference
SCOTTSDALE, Ariz., Nov. 1, 2006 (PRIMEZONE) -- Meritage Homes Corporation (NYSE:MTH) Chairman and Chief Executive Officer, Steven J. Hilton, and Chief Financial Officer, Larry W. Seay, are scheduled to present at the UBS Building & Building Products CEO Investor Conference on Thursday, November 9, 2006, at 11:30 a.m. ET.
FierceGameBiz Announces Winner of 'BrainPong' Competition
WASHINGTON, Nov. 1, 2006 (PRIMEZONE) -- FierceGameBiz (www.fiercegamebiz.com) today announced the winner of the inaugural BrainPong, an interactive competition designed to provoke discussion within the video game community. Rick Lucas, founder and CEO of Lightplay Studios, used the 1873 Lewis Carroll poem "Jabberwocky" to answer the question: "Sony Computer Entertainment America (SCEA) president Katz Hirai recently said the PlayStation 3 will have a lifespan of 10 years, and called it a 'fantastic value' at $600. To what extent do you agree or disagree with those remarks, and why?"