latest news releases from the newsroom
San Luis Trust Bank
San Luis Trust Bank Announces Third Quarter Earnings
SAN LUIS OBISPO, Calif., Oct. 23, 2007 (PRIME NEWSWIRE) -- San Luis Trust Bank (OTCBB:SNLS) earned $1.05 million during the third quarter of 2007, as compared to $1.18 million in the third quarter of 2006. 2007 year-to-date net income is $3.2 million, compared to $4.0 million in 2006. The slight drop is primarily due to lower margins over the past 12 months. While margins are lower, loan growth has been stable, increasing $2.3 million over the previous 12 months. According to the Bank's CEO, Brad Lyon, "in this environment, with real estate values down and the current credit crunch making it difficult to obtain secondary financing, being able to maintain our loan base, while strengthening credit quality, has been a significant achievement."
nFront Security to Specialize in Network Security Software
ALPHARETTA, Ga., Oct. 23, 2007 (PRIME NEWSWIRE) -- The company businesses trust for network security has a new division and a new focus. nFront Security, www.nFrontSecurity.com, is a new division of Altus Network Solutions, Inc. nFront Security is positioning itself to be a leader in the manufacture and sale of innovative security software products that improve network security and save administrators time.
Coates International, Ltd.
Coates Develops Residential Home Generator
WALL TOWNSHIP, N.J., Oct. 23, 2007 (PRIME NEWSWIRE) -- Barry C. Kaye, Chief Financial Officer announced that Coates International, Ltd. (OTCBB:COTE) (Coates) has designed and built a new standalone, synchronous electric power generator capable of putting out 25 KW's per hour, which is sufficient to provide the needed power for most residential home applications. Synchronous power allows the amount of power generated to match the amount of power needed and being used at any point in time. The generator is powered by a 4-cylinder water cooled 1,800cc engine incorporating our patented Coates Spherical Rotary Valve (CSRV) technology. The engine is designed to optimally operate at 1,800 RPM's and is propane fueled. It can be readily adapted to run on a number of other fuels including natural gas, ethanol and gasoline, among others. The benefits of this generator over those currently available in the marketplace include low fuel consumption, extremely low and cleaner emissions, coupled with a noticeably lower noise level when operating, all of which is made possible by the CSRV technology. We believe that these features will make this generator an extremely attractive alternative to the generators currently available in the residential market. The Company has received expressions of interest for this generator from interested potential purchasers.
Layne Christensen Company
Layne Christensen Announces Exercise of Over-Allotment Option for Common Stock Offering
MISSION WOODS, Kan., Oct. 23, 2007 (PRIME NEWSWIRE) -- Layne Christensen Company (Nasdaq:LAYN) today announced that the underwriters of its recent public offering of 2,700,000 shares of common stock have fully exercised their over-allotment option to purchase an additional 405,000 shares of common stock at a price of $54.50 per share. This additional purchase increased the aggregate number of shares sold in the offering to 3,105,000, resulting in total net proceeds, before expenses, of approximately $160.8 million, after payment of underwriting discounts and commissions.
Perihelion Global Provides Update On Construction of Opp, Alabama Biofuel Refinery and Common Stock Issuances
WILMINGTON, Del. and SANTA ROSA BEACH, Fla., Oct. 23, 2007 (PRIME NEWSWIRE) -- Perihelion Global (Pink Sheets:PHGI), a development company with interests in natural resources, alternative energies, and advanced communications, today provided various corporate updates regarding the construction of the company's Opp, Alabama biodiesel refinery.