latest news releases from the newsroom
HCC Insurance Holdings, Inc.
HCC Estimates Katrina Loss
HOUSTON, Sept. 14, 2005 (PRIMEZONE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) announced today that anticipated claims from Hurricane Katrina are expected to result in the Company's largest gross loss in its history, estimated at $160 million arising from aviation, onshore and offshore energy, property, marine and other specialty lines of business. This loss is estimated to be $50 million net of reinsurance including reinsurance reinstatement costs, $32.5 million after tax, and will reduce third quarter earnings of the Company by approximately $0.30 per diluted share.
FP Group, Ltd.
FP Group, Ltd. Commences Marketing of New Product Line
HONG KONG, Sept. 14, 2005 (PRIMEZONE) -- FP GROUP, LTD. (Pink Sheets:FPGR) ("FPG") announced today that it will be showing its new product line of paper clocks at a Clock and Watch Show sponsored by Million Base ("MB"), a Hong Kong based global sourcing and marketing company. As previously announced FPG is in the process of acquiring a majority interest in MB. MB expects gross revenue in 2005 of approximately US$4,000,000 and net income of approximately US$800,000. This will significantly increase FPG consolidated revenue and net income.
CDMA Development Group
3G CDMA Industry Achievement Awards Recognize Excellence in Wireless Services, Products and Applications
MIAMI BEACH, Fla., Sept. 14, 2005 (PRIMEZONE) -- The CDMA Development Group (CDG) (www.cdg.org) today announced the winners of the 2005 3G CDMA Industry Achievement Awards, which were presented yesterday at the 3G CDMA Americas Congress. Companies and individuals were recognized for excellence in deploying 3G CDMA networks, products, and services. Awards for consumer and enterprise applications were also presented, in partnership with the Mobile Entertainment Forum (MEF) and Mobile Enterprise magazine, respectively.
Bitfone Honored With 3G CDMA Industry Achievement Award
MIAMI, Sept. 14, 2005 (PRIMEZONE) -- Bitfone Corporation (www.bitfone.com) today announced the company has received the 3G CDMA Industry Achievement Award for Innovative Solutions. Bitfone received the award for its pioneering work in developing mobile device management solutions using firmware over-the-air (FOTA) update technology, for which Bitfone holds three U.S. patents. Bitfone's CEO, Gene Wang, accepted the award from the CDMA Development Group (CDG) during an awards ceremony at the 3G CDMA Americas Congress taking place this week at the Miami Beach Convention Center.
Day Spas of America, Inc.
Day Spas of America Announces New Facility Opening in Florida
APOLLO BEACH, Fla., Sept. 14, 2005 (PRIMEZONE) -- Day Spas of America, Inc. (Pink Sheets:DYSP) is a luxury spa service company providing Massage (MM15672), Acupuncture, Facials, Body Wraps, Pedicures, Manicures, Non-Surgical Face Lifts, Hair Care, Permanent Make-Up, Paraffin Treatments, Waxing, and Tanning. Retail facial, hair and tanning products are available for sale at each location. Day Spas of America, Inc. plans to expand into growing markets throughout the United States using franchise, partnership, and joint venture opportunities. Targeting luxury clientele and having retained the world's top spa designer, Takara Belmont, the Company anticipates the opening of six additional facilities every year, with location profitability achieved within one year of location opening.