latest news releases from the newsroom
Northrop Grumman Corp.
Photo Release -- Northrop Grumman Christens the Virginia-Class Submarine North Carolina
NEWPORT NEWS, Va., April 21, 2007 (PRIME NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) christened today the fourth submarine of the Virginia class, North Carolina (SSN 777). As the ship's sponsor, Linda Anne Rich Bowman performed the traditional honor of breaking a bottle of American sparkling wine across the bow of the submarine. Bowman is the wife of retired Navy Admiral and former director of naval nuclear propulsion, Frank L. "Skip" Bowman.
Xlibris Releases Tragic Hero -- New Book Tells the Tragic True Story of Willow Kincaid, a Public High School Teacher Who Became a Victim of Injustice, Unfairness and Prejudice
RESTON, Va., April 20, 2007 (PRIME NEWSWIRE) -- Inequality, prejudice and injustice continue to hound people's lives as well as corrupt civilization. For author and public school teacher Willow Kincaid, life became a living hell when she was falsely suspected by her administration, suspended from her position and sustained a police raid on her home. At the end of her teaching contract, the school superintendent demanded her resignation and threatened to revoke her teaching license despite the fact that no charges were ever filed. In her quest to set the truth and records straight, Kincaid presents her own side of the events by publishing her new book Tragic Hero: A Teacher Accused, released through Xlibris. Her campaign for justice begins!
Dow Jones & Company
Wall Street Journal Weekend Edition Highlights
NEW YORK, April 20, 2007 (PRIME NEWSWIRE) -- This week's Wall Street Journal Weekend Edition will report on a broad range of informative business and lifestyle stories written by the Journal's award-winning reporters. The week's Weekend Edition will be available via home delivery and newsstands on April 21-22.
Southcoast Financial Corporation
Southcoast Announces First Quarter Earnings
MT. PLEASANT, S.C., April 20, 2007 (PRIME NEWSWIRE) -- Southcoast Financial Corporation (Nasdaq:SOCB), announced that it had unaudited pre-tax income of $1,275,000 and unaudited net income of $831,000, or $.16 per basic share, for the quarter ended March 31, 2007. This compares to pre-tax income of $2,087,000 and net income of $1,336,000, or $0.25 per basic share for the quarter ended March 31, 2006. The March 31, 2007 earnings per share are based on 5,317,350 basic average shares compared to 5,451,109 average shares for the first quarter of 2006. This decrease in shares is the result of a stock repurchase initiative undertaken in January 2007. The Company's Board of Directors authorized the repurchase of up to 547,194 shares, or 10% of the Company's outstanding shares as of January 23, 2007. During the quarter the Company repurchased 154,588 shares for a total of $6,407,901. Chairman and Chief Executive Officer, L. Wayne Pearson said, "While we experienced a drop in net income compared to the first quarter of 2006, we continue to focus on the growth of our banking system. The decline in net income is due primarily to a decrease in non-recurring income from real estate sales. We also experienced increases in personnel costs to support the growth of our branch network, and due to the acquisition of Charlestowne Mortgage Corporation, and our expansion to Hilton Head, South Carolina."