latest news releases from the newsroom
Primoris Services Corporation
Primoris Services Corporation Signs Contract With Large Public Utility to Expand Gas Transmission Mainline
LAKE FOREST, Calif., Oct. 16, 2008 (GLOBE NEWSWIRE) -- Primoris Services Corporation (Nasdaq:PRIM) (Nasdaq:PRIMU) (Nasdaq:PRIMW) ("Primoris"), one of the largest specialty contractors and engineering companies in the Western United States, today announced that it has signed a contract with a large public utility for the installation of approximately 22 miles of 24 inch gas transmission mainline in Brawley, California. The gas transmission mainline to be installed by Primoris will expand the public utility's existing storage system capacity to handle any additional load from future facilities. This contract, scheduled to commence in November 2008 and be completed by May 2009, is expected to generate approximately $20 million in revenue to Primoris.
FirstCity Financial Corporation
FirstCity Servicing Receives Rankings Upgrade as Special Servicer
WACO, Texas, Oct. 16, 2008 (GLOBE NEWSWIRE) -- FirstCity Financial Corporation (Nasdaq:FCFC) announced today that Standard & Poor's Ratings Services upgraded its commercial finance special servicer ranking on FirstCity Servicing Corp., a wholly owned subsidiary of FirstCity Financial, to "Above Average" from "Average." FirstCity Financial purchases and manages domestic and international portfolios of distressed assets, consisting of performing and nonperforming loans purchased for its own account as well as in partnerships with outside investors. The Company also provides third party servicing for outside clients.
STEC to Web Cast Conference Call Discussing Third Quarter 2008 Results
SANTA ANA, Calif., Oct. 16, 2008 (GLOBE NEWSWIRE) -- STEC, Inc. (Nasdaq:STEC) today scheduled its earnings release and an open web cast conference call to discuss its results for the third quarter ended September 30, 2008. On November 10, 2008, a news release discussing the company's performance during the third quarter of 2008 will be issued prior to the start of the web cast conference call. The call will take place that same day at approximately 1:30 p.m. Pacific/4:30 p.m. Eastern.
Advanced Battery Technologies, Inc.
Advanced Battery Technologies Announces New Contract
NEW YORK and HARBIN, China, Oct. 16, 2008 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Nasdaq:ABAT) today announced it has signed a five-year sales contract with Veken USA Co. Ltd., a China-based multi-billion dollar corporation and one of the world's leading OEM manufacturers serving many famous power sports brands. During the first year of the contract, which will commence in December 2008, ABAT anticipates delivering 10,000 sets of battery modules per month to Veken USA, generating approximately $27.0 million in annual revenue.
Whitney Holding Corporation
Whitney Reports Third Quarter 2008 Earnings
NEW ORLEANS, Oct. 16, 2008 (GLOBE NEWSWIRE) -- Whitney Holding Corporation (Nasdaq:WTNY) earned $7.0 million in the quarter ended September 30, 2008, compared with net income of $12.9 million for the second quarter of 2008 and $48.8 million for 2007's third quarter. Earnings were $.11 per diluted share for the third quarter of 2008, $.20 for the current year's second quarter and $.71 for the third quarter of 2007. The results for the third quarter of 2008 include casualty losses and expenses from Hurricanes Gustav and Ike totaling $2.1 million ($1.3 million after-tax, or $.02 per diluted share for the quarter.) During the third quarter of 2007, Whitney reached a settlement on insurance claims arising from the hurricanes that struck portions of its market area in the late summer of 2005. With this settlement, the Company recognized a gain of $31.3 million ($19.9 million after-tax, or $.29 per diluted share for the quarter.)