latest news releases from the newsroom
Zeros & Ones, Inc.
Zeros & Ones, Inc. Completes Acquisition of RocketStream, Inc.
SANTA MONICA, Calif., May 11, 2006 (PRIMEZONE) -- Zeros & Ones, Inc. (Pink Sheets:ZROS) today announced the acquisition of RocketStream Holding Corporation, the parent company of RocketStream, Inc., as part of its growth through acquisition strategy. The acquisition was completed pursuant to the issuance of 48,235,000 shares of unregistered common stock in exchange for 100% of the shares of RocketStream Holding Corporation.
Genesis Pharmaceuticals Enterprises, Inc.
Genesis and Beijing Pharmaceuticals Partner Announce Four New Drugs and Revenues Increase
BOCA RATON, Fla., May 11, 2006 (PRIMEZONE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced that Lotus Pharmaceuticals, Inc., its health care and pharmaceuticals partner in Beijing, has commenced programs to increase its 2006 revenues above $20 million with about 15% in net profits, to launch its new U.S. public corporation through a reverse merger, and to establish Lotus as a national brand in China. New facilities, manufacturing capability, and four drugs scheduled to come to market in the fall all contributed to the increased forecasts. Based on these revised projections and its significant equity stake in Lotus, Genesis estimates its own net gain could exceed $2 million.
Urban Outfitters, Inc.
Urban Outfitters Announces Q1 Earnings
PHILADELPHIA, May 11, 2006 (PRIMEZONE) -- Urban Outfitters, Inc. (Nasdaq:URBN), a leading lifestyle consumer products company operating under the Anthropologie, Free People and Urban Outfitters brands, today announced first quarter earnings of $20.3 million for the three months ended April 30, 2006 and first quarter diluted earnings per share of $0.12.
T-3 Energy Services, Inc.
T-3 Energy Services Announces First Quarter 2006 Earnings and Backlog
HOUSTON, May 10, 2006 (PRIMEZONE) -- T-3 Energy Services, Inc. ("T-3 Energy") (Nasdaq:TTES) reported first quarter 2006 income from continuing operations of $3.9 million, or $0.36 per diluted share, up 34% and 33%, respectively, from $2.9 million, or $0.27 per diluted share, reported for the fourth quarter of 2005, and up 454% and 500%, respectively, from $0.7 million, or $0.06 per diluted share, reported for the first quarter of 2005. Revenues increased 9% over the previous quarter and 80% over the prior year quarter. The first quarter 2006 financial results include a charge of $0.2 million associated with the adoption of FASB Statement No. 123 (R), "Share-Based Payment" effective January 1, 2006. Excluding the impact of the stock based compensation costs, T-3 Energy's income from continuing operations increased 476% from the first quarter of 2005 compared to the first quarter of 2006.
Scott+Scott, LLC Files Class Action Against XM Satellite Radio Holdings Inc. on Behalf of Investors -- XMSR
COLCHESTER, Conn., May 10, 2006 (PRIMEZONE) -- On May 10, 2006, Scott+Scott, LLC, filed a class action lawsuit in the U.S. District Court for the District of Columbia against XM Satellite Radio Holdings, Inc. (Nasdaq:XMSR) ("XMSR" or the "Company") and its chief executive officer, Hugh Panero, on behalf of securities purchasers during the period July 28, 2005 through February 15, 2006, inclusive (the "Class Period") for securities law violations. XM Satellite Radio operates a satellite radio service company. The lawsuit alleges that defendants made false and misleading statements regarding the Company's subscriber acquisition costs by relying on accounting metrics that did not comply with Generally Accepted Accounting Principles ("GAAP") and therefore were easy to manipulate. As a result, the Company's stock price was artificially inflated, thereby harming Class Period investors.
Izard Nobel LLP
Schatz & Nobel, P.C. Announces Class Action Lawsuit Against GlobeTel Communications Corp. -- GTE
HARTFORD, Conn., May 10, 2006 (PRIMEZONE) -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of Florida on behalf of all persons who purchased or otherwise acquired the securities of GlobeTel Communications Corp. ("GlobeTel" or the "Company") (AMEX:GTE) between December 22, 2005 through April 11, 2006, inclusive, (the "Class Period").