latest news releases from the newsroom
NetBank, Inc. Receives Additional NASDAQ Notice of Non-Compliance
ATLANTA, May 15, 2007 (PRIME NEWSWIRE) -- NetBank, Inc. (Nasdaq:NTBK) today announced that on May 14, 2007, it received an additional staff determination notice from the NASDAQ Stock Market stating that the company's inability to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2007 (the "10-Q"), serves as an additional basis for the company's common stock to be subject to delisting. The notice, which was anticipated by the company, was issued in accordance with standard NASDAQ procedures. Timely filing of periodic reports is a requirement for continued listing under NASDAQ Marketplace Rule 4310(c)(14).
PC Group, Inc.
Langer Reports Operating Results for the Three Month Period Ended March 31, 2007
DEER PARK, N.Y., May 15, 2007 (PRIME NEWSWIRE) -- Langer, Inc. (Nasdaq:GAIT) ("Langer" or the "Company") today reported a net loss for the three months ended March 31, 2007 of approximately $(784,000), or $(.07) per share on a fully diluted basis, compared to a net loss for the three months ended March 31, 2006 of approximately $(1,426,000), or $(.14) per share on a fully diluted basis. The principal reasons for the improvement in net loss were 1) the inclusion of the net income in the approximate amount of $414,000 of Twincraft, Inc., acquired by Langer on January 23, 2007; 2) the inclusion of the net income in the approximate amount of $74,000 of Regal Medical, Inc., acquired by Langer, Inc. on January 8, 2007; 3) an increase in the net sales of Langer's existing businesses of approximately $14,000, or 0.2%, for the three months ended March 31, 2007, compared to the three months ended March 31, 2006, coupled with a reduction in cost of goods sold in Langer's existing businesses in the approximate amount of $216,000, or 4.1%, in the three months ended March 31, 2007, compared to the three months ended March 31, 2006. An increase in net sales and the reduction in cost of goods sold in our existing businesses produced an improvement in gross profit of approximately $230,000 in the three months ended March 31, 2007, compared to the three months ended March 31, 2006.
Izard Nobel LLP
Schatz Nobel Izard, P.C. Announces Class Action Lawsuit Against Sourcefire, Inc.
HARTFORD, Conn., May 15, 2007 (PRIME NEWSWIRE) -- The law firm of Schatz Nobel Izard, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Maryland on behalf of all persons who purchased or otherwise acquired the common stock of Sourcefire, Inc. ("Sourcefire" or the "Company") (Nasdaq:FIRE) pursuant and/or traceable to the Company's Registration Statement and Prospectus (collectively, the "Registration Statement") issued in connection with its March 9, 2007 initial public offering ("IPO") through April 9, 2007.
Bell Industries, Inc.
Bell Industries Reports 2007 First Quarter Results
INDIANAPOLIS, May 15, 2007 (PRIME NEWSWIRE) -- Bell Industries, Inc. (AMEX:BI) today reported revenues from continuing operations of $46.2 million for its three months ended March 31, 2007, representing an 85.1 percent increase over $25.0 million in the corresponding period a year ago.
Vertical Branding, Inc.
Vertical Branding, Inc. Announces Second Consecutive Quarterly Profit
LOS ANGELES, May 15, 2007 (PRIME NEWSWIRE) -- Vertical Branding, Inc. (OTCBB:VBDG), a consumer products branding, marketing, and distribution company, announced its first quarter financial results today, including net income of approximately $0.5 million, and earnings before interest, tax, depreciation and amortization expenses ("EBITDA") of approximately $1.3 million. This marks the company's second consecutive quarterly profit after losses during the nine months ended September 30, 2006, the first three full fiscal quarters after the company's acquisition of Worldwide Excellence Inc. at the end of 2005. First quarter net income is up from $0.3 million in the fourth quarter of fiscal 2006 and compares to a loss of roughly $1.2 million for the same period of the prior year. Earnings per share for the quarter ended March 31, 2007, were $0.02, compared to a loss of $0.07 per share for the same quarter of the prior year. The results announced today also represent the third consecutive quarter of positive EBITDA for Vertical Branding, and compare to a loss on an EBITDA basis of over $0.9 million for the first quarter of the prior year. The company's first quarter consolidated net revenues were $12.8 million, a 166% increase over net revenues of $4.8 million for the same period of the prior year.
Power Integrations, Inc.
Power Integrations Reports Selected Results for First Quarter of 2007
SAN JOSE, Calif., May 15, 2007 (PRIME NEWSWIRE) -- Power Integrations (Pink Sheets:POWI), the leader in high-voltage analog integrated circuits for power conversion, today announced selected financial results for the quarter ended March 31, 2007. All numbers reported for this period should be considered preliminary and subject to change, as the company has yet to complete its customary closing and review procedures. Power Integrations expects to release final results for the first quarter of 2007, as well as audited financial results for 2006, in two to three weeks. The company currently anticipates filing all of its outstanding quarterly and annual SEC filings by the end of June.