latest news releases from the newsroom
The First of Long Island Corporation
The First of Long Island Corporation Announces Increase in Earnings for the First Quarter of 2008
GLEN HEAD, N.Y., May 12, 2008 (PRIME NEWSWIRE) -- In the first quarter of 2008, The First of Long Island Corporation (Nasdaq:FLIC) earned $.39 per share, or $2,857,000, as compared to $.34 per share, or $2,628,000, for the same quarter last year. The 14.7% increase in earnings per share for the quarter exceeds the 8.7% increase in net income because of the large volume of shares (242,826) repurchased during the quarter. When comparing the current quarter to the same quarter last year, ROE increased by 33 basis points from 11.09% to 11.42%, while ROA decreased slightly (4 basis points) from 1.09% to 1.05%.
Sino Bioenergy Corp.
Sino Fibre Signs Memorandum of Understanding With Singapore Barter Xchange
HONG KONG and NEW YORK, May 12, 2008 (PRIME NEWSWIRE) -- Sino Fibre Communications, Inc. (OTCBB:SFBE), a broadband and value added Internet services provider in China, announced that it has entered into a memorandum of understanding ("MOU") with BarterXchange (S) Pte Ltd. ("Singapore Barter Xchange") to sell a 15% stake in Sino Fibre's joint venture ("JV"), China Business Online Company Limited, to Singapore Barter Xchange for US$6 million. This values the JV at US$40 million of which Sino Fibre will retain a 70% stake. Sino Fibre's JV is with the China Association of Small and Medium Enterprises ("CASME"), which will explore the Chinese market and introduce e-business and provide barter trade services to Chinese small and medium sized enterprises. CASME holds the remaining 15% of the JV. The proposed sale is subject to board approval, satisfactory due diligence, approvals from all necessary regulatory authorities and a definitive agreement. CASME is administered by the Chinese National Development and Reform Commission to provide business development assistance to Chinese medium and small enterprises in China and aboard. CASME operates across China with branch offices in cities and provinces throughout the country. CASME currently has 4.5 million medium and small business members in China, and continues to grow at a rapid pace. View more at: www.ca-sme.org.
TransAct Technologies Inc.
TransAct Technologies Announces Settlement of Patent Litigation With FutureLogic
HAMDEN, Conn., May 12, 2008 (PRIME NEWSWIRE) -- TransAct Technologies Incorporated (Nasdaq:TACT), a global leader in market-specific printers for transaction-based industries announced today that it has signed a binding term sheet with FutureLogic that settles the current patent litigation and all other legal matters outstanding between the two parties. Under the binding term sheet, FutureLogic has agreed to license TransAct's dual port technology for printers and upgrade kits that utilize the patented technology. The license includes worldwide, perpetual rights for U.S. Patent 6,924,903, U.S. Patent 7,099,035, related applications and patents, and foreign counterparts. TransAct Technologies did not disclose any other details of the agreement.
Omnitek Engineering, Corp.
Omnitek Engineering, Corp. Reports Record 1st Quarter
SAN MARCOS, Calif., May 12, 2008 (PRIME NEWSWIRE) -- Omnitek Engineering, Corp. (Pink Sheets:OMTK) today reports record results for its first quarter of fiscal year 2008, ending March 31, 2008.