latest news releases from the newsroom
1st Pacific Bancorp
1st Pacific Bancorp Earns $685,000 in Third Quarter
SAN DIEGO, Nov. 5, 2007 (PRIME NEWSWIRE) -- 1st Pacific Bancorp (OTCBB:FPBN), the holding company for 1st Pacific Bank of California, today announced third-quarter 2007 results were impacted by the acquisition and integration of Landmark National Bank, which closed on July 1, 2007. Net income for the third quarter decreased 22% to $685,000 from $873,000 in the prior-year third quarter primarily as a result of nonrecurring expenses of $293,000 associated with the integration of Landmark and relocation of several existing offices. In connection with the acquisition, 1st Pacific issued approximately 1.0 million shares resulting in a 24.6% year-over-year increase in the number of average diluted shares outstanding for the quarter ended September 30, 2007. Consequently, third quarter diluted EPS of $0.13 declined 38% from $0.21 for the third quarter of 2006. For the nine months of 2007, net income totaled $2.0 million, or $0.44 per diluted share, compared with $2.4 million, or $0.57 per diluted share, for the nine months of 2006.
Bank of Virginia
Bank of Virginia Announces Third Quarter and Year-to-Date Earnings
MIDLOTHIAN, Va., Nov. 5, 2007 (PRIME NEWSWIRE) -- Bank of Virginia (Nasdaq:BOVA) (www.bankofva.com) today reported third quarter 2007 earnings of $189,000 or basic and diluted earnings of $0.06 per share for the quarter. This represents a 58.8% increase from $119,000 or basic and diluted earnings per share of $0.04 for the second quarter of 2007. This income level is more than double the $81,000 or basic and diluted earnings per share of $0.03 for the third quarter of 2006.
AudioCodes Reports Third Quarter 2007 Results
LOD, Israel, Nov. 5, 2007 (PRIME NEWSWIRE) -- AudioCodes (Nasdaq:AUDC), a leading provider of Voice over Packet (VoP) technologies and Voice Network products, today announced financial results for the third quarter and nine months ended September 30, 2007.
First Solar, Inc.
First Solar Announces Expansion
PHOENIX, Nov. 5, 2007 (PRIME NEWSWIRE) -- First Solar, Inc. (Nasdaq:FSLR) announced today that it has entered into new long term module supply agreements with a subsidiary of international investment and funds and asset manager Babcock & Brown (Australia:BNB), and Ecostream Switzerland GmbH, a subsidiary of Econcern BV, which focuses on developing solutions for sustainable energy supply. The new agreements expand contracted module volume by a total of 557MW, allowing for additional sales of approximately $1 billion at an assumed exchange rate of $1.30/E1.00 over the period of 2008 to 2012. The agreements are structured on terms similar to First Solar's existing long term supply agreements.