latest news releases from the newsroom
Provident Financial Holdings, Inc.
Provident Financial Holdings Reports First Quarter Earnings
RIVERSIDE, Calif., Oct. 23, 2007 (PRIME NEWSWIRE) -- Provident Financial Holdings, Inc. ("Company"), (Nasdaq:PROV), the holding company for Provident Savings Bank, F.S.B. ("Bank"), today announced first quarter earnings for the fiscal year ending June 30, 2008.
Superior Offshore International, Inc.
Superior Offshore to Acquire Ocean Flow International
HOUSTON, Oct. 23, 2007 (PRIME NEWSWIRE) -- Superior Offshore International, Inc. (Nasdaq:DEEP) today announced it has signed a definitive agreement to acquire Ocean Flow International, LLC, a privately held deepwater subsea project engineering and offshore project management services firm based in Houston. The acquisition would be a stock-for-stock transaction valued at approximately $15 million. The closing, which is subject to customary conditions including obtaining certain consents, is expected in the fourth quarter of 2007.
PrimEdge's Subsidiary, Orangebox Entertainment, Performing All Audio Post Production On Movie 'The Last Word' From Deviant Films
BOCA RATON, Fla., Oct. 23, 2007 (PRIME NEWSWIRE) -- PrimEdge, Inc. (Pink Sheets:PEDI) announced today that its subsidiary, Orangebox Entertainment, Inc., has been contracted to perform all audio post production for the feature motion picture "The Last Word," from Deviant Films, Los Angeles, CA. The movie is slated for a winter release.
Gateway Financial Holdings, Inc.
Gateway Financial Holdings Reports 3rd Quarter 2007 Net Income of $4.2 Million, Up $1.4 Million Over 2006
VIRGINIA BEACH, Va., Oct. 23, 2007 (PRIME NEWSWIRE) -- Gateway Financial Holdings, Inc. (Nasdaq:GBTS), the holding company for Gateway Bank & Trust Co., reported net income for the third quarter of 2007 of $4.2 million compared with $2.8 for the prior year third quarter, an increase of $1.4 million. Earnings continue to reflect exceptional revenue growth from a 57.1% increase in loans over the past 12 months, and increased revenues from Gateway's non-banking activities. Additionally, third quarter income included a gain of $1.3 million in the fair market value and net cash settlements on the economic hedge, and a fair market value gain of $576,000 during the third quarter related to trust preferred securities that the Company had elected fair value option treatment effective January 1, 2007. The Company terminated its economic hedge position with the counterparty during the third quarter and received a cash termination fee of $115,000 that was included in the above gain.