latest news releases from the newsroom
Signature Eyewear Reports Increase in Net Income and Net Sales in Fiscal 2007
LOS ANGELES, Jan. 30, 2008 (PRIME NEWSWIRE) -- Signature Eyewear, Inc. (OTCBB:SEYE) reported increases in its net income and net sales for the fourth quarter and year ended October 31, 2007. The Company has achieved 12 straight quarters and three straight years of profitability. Earnings per share increased to 40 cents per share (basic and fully diluted) in fiscal 2007 from 11 cents per share (basic) and 10 cents per share (fully diluted) in fiscal 2006.
Pioneer and TitleMatch Join Forces With Primera At PMA 08
LAS VEGAS, Jan. 30, 2008 (PRIME NEWSWIRE) -- In their latest move to advance burn-on-demand delivery of movies at retail stores, TitleMatch Entertainment Group, a subsidiary of Protocall Technologies Incorporated (OTCBB:PCLI) and consumer electronics giant Pioneer Home Entertainment (NYSE:PIO), today announced their collaboration with Primera Technology in a first time demonstration of the TitleMatch DVD On-Demand(tm) service at the International Photo Marketing Association (PMA) Convention and Trade Show in Las Vegas January 31 to February 2, 2008.
State Bancorp, Inc.
State Bancorp, Inc. Reports Fourth Quarter and Full Year Earnings and Declares Cash Dividend of $0.15
JERICHO, N.Y., Jan. 30, 2008 (PRIME NEWSWIRE) -- State Bancorp, Inc. (Nasdaq:STBC), parent company of State Bank of Long Island, today reported earnings for the fourth quarter and year ended December 31, 2007. Net income for the fourth quarter of 2007 was $470 thousand versus earnings of $3.4 million a year ago. Diluted earnings per common share of $0.03 were recorded in the fourth quarter of 2007 and $0.29 in the comparable 2006 period. The decrease in fourth quarter net income was primarily attributable to a non-cash goodwill impairment accounting charge of $2.4 million, $1.4 million in additional legal expenses related to the previously disclosed purported shareholder derivative lawsuit and a $1.3 million increase in the provision for loan and lease losses, as well as the impact of a $12.1 million reversal of previously accrued legal expenses in the fourth quarter of 2006. Total operating expenses, excluding the goodwill impairment charge, the additional 2007 legal expenses and the 2006 reversal of legal expenses, decreased by $2.0 million in the fourth quarter of 2007 versus 2006. Fourth quarter 2007 results were also negatively impacted by a reduction in net interest income resulting from a lower level of average interest earning assets, primarily available for sale investment securities and short-term money market investments. Somewhat mitigating these factors was a reduction in the provision for income taxes of $12.5 million in the fourth quarter of 2007 and an increase in net interest margin to 3.87% from 3.78% a year ago. The substantial reduction in income tax expense in the fourth quarter of 2007 resulted primarily from the previously disclosed establishment of a $10 million reserve for a potential tax liability for New York State income taxes during the fourth quarter of 2006. Full year 2007 net income was $6.2 million, or $0.45 per diluted share, compared to $11.5 million or $1.00 per diluted share in 2006.