latest news releases from the newsroom
SouthCrest Financial Group, Inc.
SouthCrest Financial Group, Inc. Announces Second Quarter Earnings
FAYETTEVILLE, Ga., Aug. 11, 2006 (PRIMEZONE) -- SouthCrest Financial Group, Inc. (OTCBB:SCSG) reported net income for the quarter ended June 30, 2006 of $1,426,000 or $0.40 per share, compared to $1,358,000 or $0.38 per share for the same quarter a year ago. For the six month period ended June 30, 2006, net income was $2,832,000, or $0.79 per share compared to $2,177,000, or $0.61 per share. All per share amounts are stated on a basic and fully diluted basis.
Strategic Distribution, Inc.
Strategic Distribution, Inc. Reports 2006 Second Quarter Financial Results
BRISTOL, Pa., Aug. 11, 2006 (PRIMEZONE) -- Strategic Distribution, Inc. (Nasdaq:STRD), a leading provider of maintenance, repair and operating (MRO) supply chain management services, today reported financial results for the second quarter ended June 30, 2006.
Knightsbridge Tankers Limited
Knightsbridge Tankers Limited Announces Second Quarter 2006 Results
HAMILTON, Bermuda, Aug. 11, 2006 (PRIMEZONE) -- Knightsbridge Tankers Limited (the "Company") reports net income of $7.9 million and earnings per share of $0.46 for the second quarter of 2006. The average daily time charter equivalents ("TCEs") earned by the Company's five VLCCs was $42,800 compared with $54,300 in the immediately preceding quarter. The second quarter earnings reflect the weakening of the tanker market that occurred in the first quarter and early into the second quarter of 2006 before a steady recovery that continued through the end of the second quarter. Net interest expense for the quarter was $1.3 million (2005 comparable quarter: $1.0 million) and at June 30, 2006, all of the Company's debt is floating rate debt. As of August 7, 2006, the Company has an average cash breakeven rate for its vessels of $19,200 per vessel per day compared to $18,900 on May 8, 2006. This increase is as result of increased general market interest rates.
Reeves Telecom Acquisition Corp.
Reeves Telecom Acquisition Corp. Extends Expiration Date of Tender Offer for All Limited Partnership Units of Reeves Telecom Limited Partnership
GLEN HEAD, N.Y., Aug. 11, 2006 (PRIMEZONE) -- Reeves Telecom Acquisition Corp. ("RTAC") announced today that it has extended the expiration date of its previously announced tender offer to purchase for cash all outstanding limited partnership units (the "Units") of Reeves Telecom Limited Partnership, a South Carolina limited partnership (the "Partnership"), at a purchase price of $1.50 per Unit net to the seller in cash without interest. The tender offer applies also to shares of common stock (the "Shares") of Reeves Telecom Corporation, the predecessor of the Partnership, which have not been exchanged for Units on a 1-for-1 basis pursuant to the terms of the Corporation's 1979 plan of liquidation, as amended. Under the rules of the Securities and Exchange Commission, John S. Grace, the President and sole shareholder of RTAC, is deemed to be making the tender offer along with RTAC.