latest news releases from the newsroom
NEON Communications Group, Inc.
Globix Corporation to Merge With Neon Communications, Inc.
NEW YORK, July 19, 2004 (PRIMEZONE) -- Globix Corporation (OTCBB:GBXX), a provider of managed applications and hosting services, announced today the execution of a definitive merger agreement with NEON Communications, Inc. ("NEON"), a privately held provider of optical networking services for customers in the Northeast and mid-Atlantic markets. NEON's revenue for the year ended December 31, 2003 was $41.6 million. Globix revenue for the year ended September 30, 2003 was $60.2 million. As a result of the merger, NEON will become a wholly owned subsidiary of Globix, and holders of NEON common stock and warrants will receive approximately 27.6 million shares of Globix common stock, representing approximately 56.7% of the outstanding shares of common stock of the combined company. The current owners of Globix common stock are expected to continue to hold approximately 81% of the Globix common stock following the merger, due to cross ownership between the two companies.
EMS Technologies, Inc.
EMS Technologies' SATCOM Division Appoints Stephen M. Newell to Director, Military Sales
FARNBOROUGH, England, July 19, 2004 (PRIMEZONE) -- EMS Technologies, Inc. (Nasdaq:ELMG) is pleased to announce the appointment of Stephen Newell as Director of Military Sales, SATCOM Division. Newell has more than a decade of experience in the field of airborne, satellite and military communication systems. In this new role, he will be located in Washington, D.C., and will manage the sales activity for aeronautical satcom systems to the world's military and government customers. He has worked at EMS as Senior Account Manager for the Aeronautical Group for the past 2 years, representing EMS's products to Gulfstream, Lockheed Martin and the US Navy.
Oakley to Webcast Conference Call Discussing Second-Quarter 2004 Results
FOOTHILL RANCH, Calif., July 19, 2004 (PRIMEZONE) -- Oakley, Inc. (NYSE:OO) today said it expects to announce on Wednesday, July 21, 2004 its financial results for the second quarter 2004. The company plans to issue a news release that day at approximately 4:00 p.m. EST, after the close of regular stock market trading hours. Following the news release, Oakley management will host a conference call beginning at 4:30 pm Eastern Time to review the results.
Chino Commercial Bank
Chino Commercial Bank, N.A. Posts 59.5% Increase in Assets
CHINO, Calif., July 19, 2004 (PRIMEZONE) -- The Board of Directors of Chino Commercial Bank, N.A. (OTCBB:CKNA) announced the results of operations for the six months ended June 30, 2004 with net income of $255,226, a 4.6% increase over net income for the same period last year. Pre-tax earnings for the six months ended June 30, 2004 were $400,439 a 64.1% increase over the pre-tax earnings for the same period last year. Dann H. Bowman, President and Chief Executive Officer stated, "Effective January 1, 2004, the Bank became fully taxable with a net effective tax rate of 36.2%; even with this expense, the Bank is pleased to report an increase of 4.6% in net income after tax."