latest news releases from the newsroom
Cree Reports Record Quarterly Revenue for the Second Quarter of Fiscal Year 2009
DURHAM, N.C., Jan. 20, 2009 (GLOBE NEWSWIRE) -- Cree, Inc. (Nasdaq:CREE), a market leader in LED lighting, today announced revenue of $147.6 million for its second quarter of fiscal 2009, ended December 28, 2008. This represents a 24% increase compared to revenue of $119.0 million reported for the second fiscal quarter last year and a 5% increase compared to the fiscal first quarter of 2009. Revenue included $5.6 million in patent licensing fees which were not factored into previously announced targets. GAAP net income for the second quarter was $10.7 million, or $0.12 per diluted share, compared to net income of $6.6 million, or $0.08 per diluted share, for the second quarter of fiscal 2008. Net income included approximately $4.4 million, or $0.05 per diluted share, related to the patent licensing fees, as well as a franchise tax benefit, which was not factored into previously announced targets.
Virgin America First Domestic Carrier to Offer Carbon Offsets In-Flight
SAN FRANCISCO, Jan. 20, 2009 (GLOBE NEWSWIRE) -- As part of a continuing effort to implement innovative sustainability practices, Virgin America is giving guests the opportunity to offset their travel during flight -- via the airline's touch-screen seatback inflight entertainment system, Red. In Dec. 2008, the airline announced its partnership with Carbonfund.org, the nation's leading nonprofit carbon offset provider, to allow guests to offset their flight at the time of booking through the Virgin America ticket purchase confirmation web page.
OptimumBank Holdings, Inc.
OptimumBank Holdings Announces Lower Year End Results
FORT LAUDERDALE, Fla., Jan. 20, 2009 (GLOBE NEWSWIRE) -- OptimumBank Holdings, Inc. (Nasdaq:OPHC) reported net income of $519,645 or $.17 per basic and $.16 per diluted share for the year ended December 31, 2008, compared to net income of $1,741,893 or $.56 per basic and $.55 per diluted share for the year ended December 31, 2007. The Company reported a net loss of $499,629 or ($.16) per basic share for the quarter ended December 31, 2008, compared to net income of $501,415 or $.16 per basic and diluted share reported for the same quarter last year. Chairman of the Board, Albert J. Finch noted, "We increased our allowance for loan losses by $1.3 million during the fourth quarter because of significant weakness in our real estate markets and an increase in our non-performing loans." Mr. Finch further said, "I am still pleased to report positive results for the year in light of one of the worst regional and national economies in recent history. In a January 1, 2009 article in the Florida Trend magazine, we were included as one of six out of 17 of the largest publicly-traded bank holding companies in the State of Florida to report positive earnings for the first half of 2008."
Blue Frog Solutions and MML Investors Services Form Strategic Partnership
POMPANO BEACH, Fla., Jan. 20, 2009 (GLOBE NEWSWIRE) -- Blue Frog Solutions, a leading provider of Life & Annuity Order Management and Compliance Solutions for the life insurance and annuities industry, and MML Investors Services, Inc. (MMLISI), the investment arm of Mass Mutual, headquartered in Springfield, Mass. have formed a strategic partnership.
Whitestone REIT Names Daniel G. DeVos to Its Board of Trustees
HOUSTON, Jan. 20, 2009 (GLOBE NEWSWIRE) -- Whitestone REIT, a public, non-traded community business center real estate investment trust, today announced that Daniel G. DeVos has been appointed to its Board of Trustees, effective February 1st.
Pomerantz Law Firm Charges Satyam's Auditors With Securities Law Violations
NEW YORK, Jan. 20, 2009 (GLOBE NEWSWIRE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) ("Pomerantz") has filed a class action lawsuit in the United States District Court, Southern District of New York, which names as a defendant Satyam's outside auditor, PricewaterhouseCoopers Pvt. Ltd., Price Waterhouse (collectively, "PwC") and Pricewaterhouse Coopers International Limited. Also named as defendants are Satyam Computer Services Ltd. ("Satyam"); its former Chairman, B. Ramalinga Raju; his brother, B. Rama Raju, the Company's former Managing Director and CEO; and the former Chief Financial Officer, Srinivas Vadlamani.