latest news releases from the newsroom
WordLogic Corporation: Patent Infringement Against Mercedes-Benz USA, Second Patent Pending Allowance
VANCOUVER, British Columbia, Jan. 20, 2009 (GLOBE NEWSWIRE) -- WordLogic Corporation (OTCBB:WLGC) has an important update that could impact the lawsuit against Mercedes-Benz USA involving damages for patent infringement for use of their car navigation system in certain 2007, 2008 and 2009 Mercedes-Benz models under US Patent No. 7293231 titled "DATA ENTRY FOR PERSONAL COMPUTING DEVICES." WordLogic is seeking 8.6% royalties of the sales of the infringing product that sell for approximately $3,000.00 to $5,000.00 per car. Also, in light of the undisputable fact that the infringer was well aware of the Company, its product, and its patents from 2005, WordLogic will seek treble damages and injunctive relief to prevent further infringement.
Fox Chase Bancorp, Inc.
Fox Chase Bancorp Reports Increased Loan Loss Provision; Anticipates a Loss for the Fourth Quarter
HATBORO, Pa., Jan. 20, 2009 (GLOBE NEWSWIRE) -- Fox Chase Bancorp, Inc. (the "Company") (Nasdaq:FXCB), the holding company for Fox Chase Bank (the "Bank"), reported today that the Company expects to record a fourth quarter provision for loan losses of approximately $2.0 million, increasing the allowance for loan losses to approximately 1.05% of outstanding loans at December 31, 2008 from 0.74% of outstanding loans at September 30, 2008. The provision for loan losses is expected to be $2.9 million for the year ended December 31, 2008. Nonperforming loans increased to approximately $5.9 million at December 31, 2008 from $1.9 million at September 30, 2008 and the ratio of the allowance for loan losses to nonperforming loans was 107% at December 31, 2008. Additionally, the Bank recorded an incremental valuation allowance of $102,000 on its mortgage servicing rights, which was a result of assumed higher mortgage prepayments due to a significant decrease in interest rates in the fourth quarter.
ICC Worldwide, Inc.
ICC Worldwide Announces Growing Success With the Company's 'Wholesale-Only' Business Strategy
CORONA DEL MAR, Calif., Jan. 20, 2009 (GLOBE NEWSWIRE) -- ICC Worldwide, Inc. (Pink Sheets:ICCW) today announced that the company's transition to a "wholesale-only" strategy was beginning to produce significant results. Following the sale of all the firm's remaining retail locations in the fourth calendar quarter of 2008, ICC has been focused on expanding its wholesale communications products business. ICC's target customers are the 30 million largely permanent immigrant workers currently residing in Western Europe.
Meritage Homes Corporation
Meritage Homes Schedules Fourth Quarter and Full Year 2008 Earnings Webcast
SCOTTSDALE, Ariz., Jan. 20, 2009 (GLOBE NEWSWIRE) -- Meritage Homes Corporation (NYSE:MTH), a leading U.S. homebuilder, plans to release the Company's fourth quarter 2008 results on Wednesday, January 28, 2009 after market close. Management will host a conference call to discuss these results on January 29, 2009 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time.) The call will be webcast by Business-to-Investor, Inc. (B2i), with an accompanying slideshow on the "Investor Relations" page of the Company's web site at http://www.meritagehomes.com. For telephone participants, the dial-in number is 888-241-0558 with a passcode of "Meritage". Participants are encouraged to dial in five minutes before the call begins. A replay of the call will be available after 4:30 p.m. ET, January 29, 2009 on the website noted above, or by dialing 888-566-0885, and referencing passcode 77504325.