latest news releases from the newsroom
Banner Corporation Announces Fourth Quarter and Year End Results; Includes $71 Million Goodwill Write-Off and $124 Million TARP CPP Proceeds; Remains 'Well Capitalized'
WALLA WALLA, Wash., Jan. 28, 2009 (GLOBE NEWSWIRE) -- Banner Corporation (Nasdaq:BANR), the parent company of Banner Bank and Islanders Bank, today reported that it had a net loss of $78.5 million, or $4.72 per diluted share available to common shareholders, for the quarter ended December 31, 2008, compared to net income of $12.0 million, or $0.74 per diluted share, for the quarter ended December 31, 2007. The current quarter's results included a $71.1 million non-cash impairment charge to write-off the remaining balance of goodwill previously reflected on the Company's books. The current quarter's net income also included a $33.0 million provision for loan losses and $13.7 million of net fair value gains. Banner recorded a net loss of $128.0 million, or $7.94 per diluted share available to common shareholders (including a $121.1 million write-down of goodwill), for the year ended December 31, 2008, compared to net income of $36.9 million, or $2.49 per diluted share, for the year ended December 31, 2007.
Measurement Specialties, Inc.
Measurement Specialties Announces Third Quarter Fiscal Year 2009 Release Schedule and Conference Call
HAMPTON, Va., Jan. 28, 2009 (GLOBE NEWSWIRE) -- Measurement Specialties, Inc. (Nasdaq:MEAS), a global designer and manufacturer of sensors and sensor-based systems, will report earnings for the third quarter ended December 31, 2008 on Wednesday, February 4, 2009.
Pacific Sunwear of California, Inc.
Pacific Sunwear Announces Cost Reduction Actions for Fiscal 2009
ANAHEIM, Calif., Jan. 28, 2009 (GLOBE NEWSWIRE) -- Pacific Sunwear of California, Inc. (Nasdaq:PSUN) today announced a number of cost reduction actions aimed at strengthening the Company's operational and financial position in fiscal 2009. In anticipation of a continuing difficult economic environment in the coming year, the Company has:
Delta Air Lines, Inc.
Delta Reinstates Pilot Aviation Safety Action Program
ATLANTA, Jan. 28, 2009 (GLOBE NEWSWIRE) -- Delta Air Lines (NYSE:DAL) has signed a memorandum of understanding with the Air Line Pilots Association (ALPA) and the Federal Aviation Administration (FAA) to reinstate its Aviation Safety Action Program (ASAP) covering pre-merger Delta pilots. The revised program mirrors an existing Northwest Airlines pilot ASAP program.
MSB Financial Corp.
MSB Financial Corp. Announces Quarterly Results
MILLINGTON, N.J., Jan. 28, 2009 (GLOBE NEWSWIRE) -- MSB Financial Corp. (Nasdaq:MSBF) (the "Company"), the holding company for Millington Savings Bank (the "Bank"), reported net income of $133,000 for the three months ended December 31, 2008, compared to $234,000 for the quarter ended December 31, 2007, representing a decrease of $101,000 or 43.2%. For the six months ended December 31, 2008, the Company reported net income of $304,000, compared to net income of $360,000 for the six month period ended December 31, 2007, a decrease of $56,000 or 15.6%. Both reporting periods reflect expenses associated with the opening of the Bank's new Bernardsville location in late summer 2008, including increased FDIC insurance expense. Compensation expense also increased for both the three and six months ended December 31, 2008, compared to the same periods in 2007 as a result of the implementation of a stock option plan in May 2008, partially offset by the reversal of a portion of the accrued 401(k) plan expense in December 2007 due to a decrease in the Company's contribution rate. In addition, the Company incurred an unrealized loss of $41,000 on its trading securities portfolio for the quarter ended December 31, 2008.