latest news releases from the newsroom
Brightpoint Announces 2009 Spending and Debt Reduction Plan
INDIANAPOLIS, Feb. 9, 2009 (GLOBE NEWSWIRE) -- Brightpoint, Inc. (Nasdaq:CELL) today announced a plan to reduce spending in 2009 by $40 million to $45 million and to reduce average daily debt by approximately $100 million to $150 million in 2009 (the "2009 Spending and Debt Reduction Plan"). As result of the 2009 Spending and Debt Reduction Plan, we expect to have an incremental reduction in interest expense in 2009. The current global economic downturn had significant negative impact on the Company's operating results for the year ended December 31, 2008, and the Company believes that there continues to be uncertainty about the impact this global economic downturn will have on the wireless device industry during 2009. The Company is proactively taking these precautionary measures to lower its debt and spending by initiating its 2009 Spending and Debt Reduction Plan. The Company believes the 2009 Spending and Debt Reduction Plan will improve cash flow, provide financial flexibility and enhance operation excellence and long-term shareholder value.
Electroglas Announces Appointment of Warren C. Kocmond, Jr. as Chief Executive Officer
SAN JOSE, Calif., Feb. 9, 2009 (GLOBE NEWSWIRE) -- Electroglas, Inc. (Nasdaq:EGLS) (the "Company"), a leading supplier of wafer probers and prober-based test handling solutions for the semiconductor industry, today announced that Thomas M. Rohrs will become Executive Chairman of the Board and that Warren C. Kocmond, Jr. has accepted the Company's offer to become its Chief Executive Officer, effective February 9, 2009. Mr. Kocmond has served as the Chief Operating Officer of the Company since May 2008.
Alico Reports First Quarter Earnings
LA BELLE, Fla., Feb. 9, 2009 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced a net loss for the three months ended December 31, 2008 of $0.2 million or $0.02 per share, compared with a profit of $2.2 million or $0.30 per share for the three months ended December 31, 2007. Earnings from interest on mortgages and investments and earnings from real estate operations were below prior year results and combined to cause the earnings decline.
Zoltek Companies, Inc.
Zoltek Reports First Quarter Results
ST. LOUIS, Feb. 9, 2009 (GLOBE NEWSWIRE) -- Zoltek Companies, Inc. (Nasdaq:ZOLT) today reported the financial results for the first quarter of its 2009 fiscal year.
Balchem Corporation Announces Quarterly Conference Call On Fourth Quarter 2008 Financial Results On February 24, 2009
NEW HAMPTON, N.Y., Feb. 9, 2009 (GLOBE NEWSWIRE) -- Balchem Corporation (Nasdaq:BCPC) today announced that a conference call will be held on Tuesday, February 24, at 2:00 PM Eastern Time (ET) to review fourth quarter 2008 results. Dino A. Rossi, Chairman, President and CEO, and Frank Fitzpatrick, Chief Financial Officer, will host the call.
International Assets Holding Corporation
International Assets Reports Record Operating Revenues (Non-GAAP) of $31 Million and $3.3 Million Earnings for First Quarter of Fiscal 2009
NEW YORK, Feb. 9, 2009 (GLOBE NEWSWIRE) -- International Assets Holding Corporation (the 'Company') (Nasdaq:IAAC) today announced its fiscal 2009 first quarter financial results which are set out in the table below. Sean O'Connor, CEO, stated, "We are pleased to have produced record non-GAAP revenues and strong non-GAAP earnings in difficult market conditions. This is a validation of our strategy of building niche, customer-centric businesses with uncorrelated revenue streams. Losses in our asset management segment were offset by strong performances in our international equities market-making, commodities and foreign exchange trading, resulting in a non-GAAP return on average stockholders' equity of 21.4% for the quarter."