latest news releases from the newsroom
Donegal Group Inc. Announces First Quarter Earnings
MARIETTA, Pa., April 24, 2009 (GLOBE NEWSWIRE) -- Donegal Group Inc. (Nasdaq:DGICA) (Nasdaq:DGICB) today reported that its net income for the first quarter ended March 31, 2009 was $169,804, or $.01 per share of Class A common stock on a diluted basis, compared to $6,559,083, or $.26 per share of Class A common stock on a diluted basis, for the first quarter of 2008. As Donegal Group previously announced, higher losses and loss expenses from claim activity attributable to severe winter weather in the Company's operating areas and an unusually large number of fire losses adversely impacted the Company's net income for the first quarter of 2009.
Colony Bankcorp, Inc.
Colony Bankcorp, Inc. Announces First Quarter Results
FITZGERALD, Ga., April 24, 2009 (GLOBE NEWSWIRE) -- Colony Bankcorp, Inc. (Nasdaq:CBAN), today reported net income of $1,078,000, or $0.11 per diluted share for the first quarter of 2009, down 51.29 percent from first quarter 2008 net income of $2,213,000, or $0.31 per diluted share. The continued downturn of the housing and real estate market that began in 2007 and the economy in general has contributed to financial results well below our historic standards. Challenges in the housing and real estate market continued to have a significant impact on our loan portfolio and earnings in the first quarter. The Company's net income was impacted primarily from increased provisions for loan losses. "Credit quality issues and a slowing economy have created an unprecedented operating environment for the banking industry. Though first quarter earnings are disappointing, our solid core earnings continue to provide strong support for loss provisions needed to cover our problem loan losses. We remain committed to aggressively moving through this down economic cycle in a timely and prudent manner," said Al D. Ross, President and Chief Executive Officer.
Icagen to Report First Quarter 2009 Results On May 5, 2009
RESEARCH TRIANGLE PARK, N.C., April 24, 2009 (GLOBE NEWSWIRE) -- Icagen, Inc. (Nasdaq:ICGN) today announced plans to release first quarter 2009 financial results on Tuesday, May 5, 2009 before the opening of the financial markets. The Company will also host a conference call at 9:00 a.m. ET to discuss results and highlights of the first quarter 2009.
First Capital, Inc.
First Capital, Inc. Reports First Quarter Earnings
CORYDON, Ind., April 24, 2009 (GLOBE NEWSWIRE) -- First Capital, Inc. (Nasdaq:FCAP), the holding company for First Harrison Bank (the "Bank"), today reported net income of $803,000 or $0.29 per diluted share for the quarter ended March 31, 2009, compared to $899,000 or $0.32 per diluted share for the quarter ended March 31, 2008.
Haynes International, Inc.
Haynes International, Inc. Announces 2009 Non-Cash Goodwill Impairment Charge and Date for Second Fiscal Quarter 2009 Earnings Release
KOKOMO, Ind., April 24, 2009 (GLOBE NEWSWIRE) -- Haynes International, Inc. (Nasdaq:HAYN) a leading developer, manufacturer and marketer of technologically advanced high performance alloys, announced today that it will record a non-cash goodwill impairment charge estimated at $43.7 million in the second fiscal quarter ended March 31, 2009. Only $2.3 million of this charge is deductible for tax purposes in future periods with the remaining $41.4 million being non-deductible for tax purposes. While the goodwill impairment charge will reduce fiscal 2009 operating results under U.S. generally accepted accounting principles, the impairment is a non-cash charge and will not affect the Company's liquidity position, cash flows from operating activities, or compliance with its debt covenants. As required by U.S. generally accepted accounting principles the Company conducted an interim test for potential impairment of goodwill during the second quarter of 2009 due to declining economic and equity market conditions.