latest news releases from the newsroom
Amelot Holdings, Inc.
Amelot Alternative Energy to Hire Able Crane Service
CHEYENNE, Wyo., Nov. 1, 2006 (PRIMEZONE) -- Amelot Holdings, Inc. (Pink Sheets:AMHD) is pleased to announce that the Company's subsidiary, Amelot Alternative Energy, Inc., will hire Able Crane Service (http://www.ablecrane.com) out of Merrimack, NH. Able Crane has been servicing New England for over 25 years and offers the latest technology in its fleet of cranes.
Car Buyers and Dealers Meet Online to Resolve Problems at MyDealerAndMe.com
MIAMI, Nov. 1, 2006 (PRIMEZONE) -- We hear constant complaints about car problems and car dealers, but how often do we get recommendations of dealers from satisfied customers after the problems have been resolved? A new web site (http://www.mydealerandme.com) makes both these things possible as buyers and dealers can meet on common ground and grind out the details. Dissatisfied customers can vent and carry on without having to dial numerous phone numbers, wait endlessly on hold and fail to reach the right person who has the authority to help.
Timberline Resources Corporation
Timberline Provides Contract Drilling Subsidiary Update
COEUR D'ALENE, Idaho, Nov. 1, 2006 (PRIMEZONE) -- Timberline Resources Corporation (OTCBB:TBLC) today provided an update of its contract drilling subsidiary, Kettle Drilling, Inc. ("Kettle"). For the quarter ending in June 2006, its first as a Timberline subsidiary, Kettle saw record revenues exceeding $2.5-million, with resulting cash flow primarily reinvested into the drilling business. Unaudited results for the quarter ending in September 2006 are very similar to the previous quarter, including roughly $2.6-million in revenue. Kettle specializes in difficult underground drilling services, in support of active mining operations and advanced exploration projects.
InRob Tech Ltd.
InRob's New Mini-Tractor Rolls Off Production Line
LAS VEGAS, Nov. 1, 2006 (PRIMEZONE) -- InRob Ltd. ("InRob") (OTCBB:IRBL), a leader in the development and production of advanced wireless control systems and integrated solutions for unmanned ground vehicles (UGV), today announced that its new mini-tractor, the Keter Paz, has begun rolling off InRob's production lines.
Wolverine Tube Inc.
Wolverine Tube Announces Third Quarter Results
HUNTSVILLE, Ala., Nov. 1, 2006 (PRIMEZONE) -- Wolverine Tube, Inc. (NYSE:WLV), today reported its results for the third quarter of 2006. Net loss for the quarter ended October 1, 2006 was $49.5 million, or $3.29 per share, as compared to a net loss of $11.2 million, or $0.74 per share, in the third quarter of 2005. Included in the net loss for the third quarter of 2006 is $44.3 million of after-tax restructuring and other nonrecurring charges. Of these charges, $42.5 million relates to the planned closure of our manufacturing facilities located in Jackson, Tennessee and Montreal, Quebec and the consolidation of our U.S. wholesale distribution facility into the Decatur, Alabama plant as announced on September 13, 2006. The remaining $1.8 million was attributed to nonrecurring professional advisory fees incurred in conjunction with our strategic planning and balance sheet restructuring efforts. In the third quarter of 2005, we recorded an after-tax restructuring charge of $1.2 million. Comparatively, excluding these charges, the net loss would have been $5.2 million, or $0.35 per share, for the third quarter of 2006 and a loss of $10.0 million, or $0.66 per share in the third quarter of 2005.
Ocwen Financial Corp.
Ocwen Financial Corporation Names New Chief Accounting Officer
WEST PALM BEACH, Fla., Nov. 1, 2006 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) today announced that Robert J. Leist, Jr., the company's Senior Vice President and Chief Accounting Officer, resigned from his position as Chief Accounting Officer effective October 31, 2006 and will retire from the company at the end of January 2007. Mr. Leist has been with the company since March 1999 and will assist in the transition of his responsibilities to his successor until his retirement becomes effective on January 31, 2007.