latest news releases from the newsroom
MetaPower International, Inc.
MetaPower International, Inc. Receives Over $493,000 in Consolidated Sales From Subsidiaries
LAS VEGAS, Aug. 22, 2007 (PRIME NEWSWIRE) -- MetaPower International, Inc. (Pink Sheets:MTPW) is pleased to announce that the Company has received $493,395 in consolidated sales from MetaPower, Inc. and MetaPower Canada. MetaPower International, Inc. booked the consolidated sales over the months of May, June, and July of 2007.
WCI Communities, Inc.
WCI Reports Second Quarter 2007 Results
BONITA SPRINGS, Fla., Aug. 22, 2007 (PRIME NEWSWIRE) -- WCI Communities, Inc. (NYSE:WCI), a leading builder of traditional and tower residences in highly amenitized lifestyle communities, today reported its results for the second quarter of 2007. For the three months ended June 30, 2007, WCI reported a net loss of $33.2 million, compared with a gain of $22.7 million in the second quarter of 2006. Diluted earnings per share (EPS) was a loss of $0.79 compared to a gain of $0.52 for the same period a year ago. During the quarter, the company completed the sale of a non-golf recreation facility for $47.5 million, which generated an after-tax gain of $11.5 million, or $0.27 per share. Earnings from this recreation facility are characterized as earnings from discontinued operations and the related cash flows are classified in as investing activities. Earnings from continuing operations declined to a loss of $1.07 versus a gain of $0.50 from continuing operations in the same period a year ago. Revenues for the second quarter of 2007 were $241.8 million, compared with $527.7 million for the second quarter of 2006, a 54.2% decrease. Overall company gross margin for the second quarter of 2007 was negative versus 19.0% for the second quarter of 2006.
Red Reef Laboratories International, Inc.
Red Reef Labs Signs Multi-faceted Agreement With DITEC International Corporation
DEERFIELD BEACH, Fla. and NAPOLEONVILLE, La., Aug. 22, 2007 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc. (Pink Sheets:RRLB), a scientific research, development, and marketing group focused on commercializing a variety of chemical and biological products, announced today that the Company, in a cooperative relationship agreement with DITEC International Corporation, grants DITEC exclusive use rights to a family of proprietary products for automotive maintenance, while agreeing to provide ongoing research and development of current and new products. This arrangement is aimed to give DITEC an even greater competitive edge in the auto detailing and paint preservation field. Red Reef will receive, as part of the compensation, or incentive plan, an undisclosed participation in DITEC Florida revenues.
Microsemi Increases Cash Position $11.4 Million From Sale of Two Properties
IRVINE, Calif., Aug. 22, 2007 (PRIME NEWSWIRE) -- Microsemi Corporation (Nasdaq:MSCC), a leading manufacturer of high performance analog mixed signal integrated circuits and high reliability semiconductors, announced today that it has recently completed the sales of properties located in Santa Ana, California and Montgomeryville, Pennsylvania in two separate transactions. The effect of these sales will increase Microsemi's cash position by $11.4 million and will result in a one-time net gain of approximately $4.4 million which will be recorded in Microsemi's fiscal fourth quarter.