latest news releases from the newsroom
Qnective Inc. Acquires MobilMedia Holding AG
ZURICH, Switzerland, Oct. 31, 2007 (PRIME NEWSWIRE) -- Qnective Inc. (OTCBB:QNTV) announced today that it has acquired MobilMedia Holding AG (MMH AG), an information technology company which had revenues of US$2.2 million for the first six months of this year.
Southcoast Financial Corporation
Southcoast Announces Real Estate Transactions
MT. PLEASANT, S.C., Oct. 31, 2007 (PRIME NEWSWIRE) -- Southcoast Financial Corporation (Nasdaq:SOCB), announced that it had entered into several real estate transactions related to its branch network. On October 26, 2007, the Company agreed to sell and lease back its Johns Island branch location. The sale will result in recognition of a gain of approximately $1.5 million for the Company. The Company will finance 90% of the purchase price for 15 years. The buyer will lease the property back to the Company for five years with the option to extend the lease for up to 15 years in five year increments. The closing is expected to occur on or before January 4, 2008.
SP Plus Corporation
Standard Parking Reports 56 Percent Increase in Third Quarter Pre-Tax Income Per Share; Raises Full Year 2007 Guidance
CHICAGO, Oct. 31, 2007 (PRIME NEWSWIRE) -- Standard Parking Corporation (Nasdaq:STAN), one of the nation's largest providers of parking management services, today announced that third quarter 2007 pre-tax income increased 45% to $7.7 million, or $0.81 per share, as compared with $5.3 million, or $0.52 per share, in the third quarter of 2006. Due to an increase in the Company's effective tax rate to 41% in 2007 from 15% in the third quarter of last year, net income remained flat at $4.5 million, although earnings per share increased 7% to $0.47 from $0.44 due to a decrease in outstanding shares. Cash taxes for both years were under 5% on a year-to-date basis.
ProCentury Corporation Reports 2007 Third Quarter Results
COLUMBUS, Ohio, Oct. 31, 2007 (PRIME NEWSWIRE) -- ProCentury Corporation (Nasdaq:PROS), a specialty property and casualty insurance holding company, reported net income for the three months ended September 30, 2007 of $5.8 million, or $0.43 per diluted share, compared to net income of $5.1 million, or $0.39 per diluted share, for the same period in 2006. Net income for the nine months ended September 30, 2007 was $17.6 million, or $1.31 per diluted share, compared to net income of $14.8 million, or $1.11 per diluted share, for the nine months ended September 30, 2006.