latest news releases from the newsroom
Flamemaster Reports Earnings of $.50 Per Share On a 3 Percent Decline in Sales for the Fiscal Year Ended September 30, 2008
PACOIMA, Calif., Jan. 27, 2009 (GLOBE NEWSWIRE) -- Flamemaster Corporation (Pink Sheets:FAME) reported net income of $608,760 on sales of $6,098,711 for the year ended September 30, 2008. In the previous year earnings were $363,169 on sales of $6,287,239. Per share results were $.50 fully diluted in 2008 vs. $.30 fully diluted in 2007. The earnings for the previous year were severely impacted due to the costs and disruption of production associated with the Company's relocation to a larger facility in the 1st quarter of fiscal 2007.
Naugatuck Valley Financial Corporation
Naugatuck Valley Financial Corporation Reports 2008 Year End and Fourth Quarter Results
NAUGATUCK, Conn., Jan. 27, 2009 (GLOBE NEWSWIRE) -- Naugatuck Valley Financial Corporation (the "Company") (Nasdaq:NVSL), the parent company of Naugatuck Valley Savings and Loan (the "Bank"), announced net income of $1.4 million, or $0.20 per share for the quarter ended December 31, 2008 and a net loss of $312,000, or $0.05 per share, for the year ended December 31, 2008, compared to net income of $479,000 for the quarter ended December 31, 2007, and net income of $1.4 million for the year ended December 31, 2007. Income for the fourth quarter and the year ended December 31, 2008 was significantly affected by Other Than Temporary Impairment ("OTTI") charges of $3.2 million taken in the quarter ended September 30, 2008, and $211,000 taken in the quarter ended December 31, 2008 on auction rate pass through certificates with Fannie Mae preferred stock as underlying collateral and the related tax effects. After the OTTI charges, the carrying value of the auction rate pass through certificates with Fannie Mae preferred stock as underlying collateral have been written down to $73,000. Without the OTTI charges and the related tax effects, net income for the quarter and year ended December 31, 2008 would have been $400,000 and $2.0 million, or $0.06 and $0.28 per share respectively, as shown in the table below.
Northrop Grumman Corp.
U.S. Army Selects Northrop Grumman for Biometrics Operations and Support Services Contract
MCLEAN, Va., Jan. 27, 2009 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) is one of 12 companies selected for the Biometrics Operations and Support Services Unrestricted (BOSS-U) contract by the U.S. Army. BOSS-U provides a range of technical services and solutions to fulfill the Army's Biometrics Task Force's biometrics services needs.