latest news releases from the newsroom
Myriad Group AG
Esmertec 2007 Results: Significant Revenue Growth, Operating Cash Flow Positive -- Exceeding Guidance
ZURICH, Switzerland, April 10, 2008 (PRIME NEWSWIRE) -- Esmertec(tm) (SWX:ESMN) today announced its results for the financial year ended December 31, 2007. During 2007, Esmertec achieved a solid operational performance. Revenues grew to USD 37.2m, an increase of 50.4%, exceeding the guidance given by management. Cash flow from operations was USD 1.1m (compared to USD -20.2m in 2006). The positive financial results in the second half of 2007 were distorted by two special effects: write-downs of bad debts from the past and IFRS accounting treatment of the early conversion of bonds.
Southcoast Financial Corporation
Southcoast Announces First Quarter Earnings
MT. PLEASANT, S.C., April 9, 2008 (PRIME NEWSWIRE) -- Southcoast Financial Corporation (Nasdaq:SOCB) announced that it had unaudited pre-tax income of $944,000 and an unaudited net income of $744,000, or $.16 per basic share, for the quarter ended March 31, 2008. This compares to pre-tax income of $1,275,000 and net income of $831,000, or $0.14 per basic share, for the quarter ended March 31, 2007.
Delta Air Lines, Inc.
Delta Applauds U.S. Department of Transportation's Decision to Expand Antitrust Immunity for Six SkyTeam Members
ATLANTA, April 9, 2008 (PRIME NEWSWIRE) -- Delta Air Lines (NYSE:DAL) today applauded the U.S. Department of Transportation (DOT)'s Show Cause Order and decision to approve antitrust immunity for six-way alliance activities in trans-Atlantic markets for the SkyTeam carriers of Air France, Alitalia, CSA Czech Airlines, Delta, KLM Royal Dutch Airlines and Northwest Airlines. Delta currently has antitrust immunity with Air France, Alitalia and CSA, while Northwest has antitrust immunity with KLM. The DOT's ruling will allow these SkyTeam carriers to consolidate their alliance activities.
Federman & Sherwood
Federman & Sherwood Announces Expansion of Class Period in Securities Class Action Lawsuit Against Force Protection, Inc. -- FRPT
OKLAHOMA CITY, April 9, 2008 (PRIME NEWSWIRE) -- On April 3, 2008, a class action lawsuit was filed in the United States District Court for the District of South Carolina against Force Protection, Inc. (Nasdaq:FRPT), expanding the class period to include those investors who purchased shares of Force Protection, Inc. between August 14, 2006 and March 17, 2008. Federman & Sherwood reminds current and former shareholders of Force Protection, Inc. that they only have until Friday, May 9, 2008 to move for appointment as a lead plaintiff in this case. Our firm seeks to recover damages on behalf of the Class. Federman & Sherwood has extensive experience and expertise in prosecuting securities litigation involving financial fraud. We represent investors throughout the country in shareholder litigation.
Summit Financial Group, Inc.
Summit Financial Group, Inc. Announces Termination of Agreement to Acquire Greater Atlantic Financial Corp.
MOOREFIELD, W.Va., April 9, 2008 (PRIME NEWSWIRE) -- Summit Financial Group, Inc. ("Summit") (Nasdaq:SMMF) announced today that it has exercised its right to terminate the Agreement and Plan of Reorganization (the "Agreement") by and between Summit and Greater Atlantic Financial Corp. ("Greater Atlantic") (Pink Sheets:GAFC) dated April 12, 2007, under the terms of which Summit was to acquire Greater Atlantic. The Agreement permitted either party to terminate the Agreement if the transaction was not completed by March 31, 2008.