latest news releases from the newsroom
eLEC Communications Corp.
eLEC Announces Second Quarter Results
NEW ROCHELLE, N.Y., July 16, 2003 (PRIMEZONE) -- eLEC Communications Corp. (OTCBB:ELEC), a provider of local and long distance telephone service, today announced financial results for the second quarter ended May 31, 2003. eLEC reported net income for the second fiscal quarter of 2003 of $48,855, or $0.00 per share, as compared to a net loss of ($923,819), or ($0.06) per share, for the second fiscal quarter of 2002.
Guaranty Federal Bancshares, Inc.
Guaranty Federal Bancshares, Inc. Announces a 27% Increase in Annual Earnings per Share
SPRINGFIELD, Mo., July 16, 2003 (PRIMEZONE) -- Guaranty Federal Bancshares, Inc, (Nasdaq:GFED), the holding company for Guaranty Bank, today announced that earnings for the fourth quarter ended June 30, 2003, were $0.33 per share ($931,000), up from the $0.31 per share ($874,000) the Company earned during the same quarter in the prior year. This represents a 6% increase in quarterly earnings per share. Earnings for the twelve month period ending June 30, 2003 were $1.28 per share ($3,580,000), up from the $1.01 per share ($3,593,000) the Company earned during the same period in 2002. This represents a 27% increase in earnings per share when compared to the same period in the prior year.
Northrop Grumman Corp.
Northrop Grumman Adds Lockheed Martin to Joint Unmanned Combat Air System Team
BALTIMORE, July 16, 2003 (PRIMEZONE) -- Northrop Grumman Corporation's (NYSE:NOC) Integrated Systems sector today announced the addition of Lockheed Martin (NYSE:LMT) to its joint unmanned combat air system (J-UCAS) team. The two companies will work together to design, develop and produce an unmanned combat air vehicle (UCAV) system that can satisfy the operational requirements of both the U.S. Navy and the U.S. Air Force.
First Indiana Corporation
First Indiana Corporation President & COO and First Indiana Bank President & CEO Melton Announces Early Retirement, Effective December 31, 2003
INDIANAPOLIS, July 16, 2003 (PRIMEZONE) -- First Indiana Corporation today announced that Owen B. "Bud" Melton, Jr., its president and the president and CEO of its major subsidiary, First Indiana Bank, N.A., will retire from the Corporation and the Bank, effective December 31, 2003. In making this announcement, Marni McKinney, vice chairman and CEO of the Corporation, said, "Bud's skill sets are many. He has served the Corporation and the Bank well during his tenure here and is a valuable resource to Bob McKinney and me. This next six months should give us plenty of time to interview and select someone of stature to succeed Bud." Marni McKinney indicated that the Corporation has engaged a national executive recruiting firm to conduct a search to seek Melton's replacement.
First Indiana Corporation
First Indiana Announces Second Quarter 2003 Loss of $1.7 Million
INDIANAPOLIS, July 16, 2003 (PRIMEZONE) -- First Indiana Corporation (Nasdaq:FINB) today announced a net loss of $1.7 million, or $0.11 per diluted share, for the quarter ended June 30, 2003. Earnings for the second quarter of the previous year were $6.9 million, or $0.43 per diluted share. For the six months ended June 30, 2003, First Indiana's earnings were $3.0 million, or $0.19 per diluted share, compared to $13.3 million, or $0.84 per diluted share, for the same period in 2002.