latest news releases from the newsroom
Norsk Hydro: Statement Regarding KFK Sells Swedish Subsidiary
OSLO, Norway, Oct. 10, 2002 (PRIMEZONE) -- The Danish company Korn-og Foderstof Kompagniet (KFK) (Copenhagen:KORN), in which Norsk Hydro (NYSE:NHY) owns 68.8 percent of the outstanding shares, has signed an agreement relating to the divestment of its subsidiary, Svenska Foder, to a purchasing consortium consisting of Dansk Landbrugs Grovvareselskab (51%) and Svenska Lantmannen (49%).
Cinnabon Opens Bakeries in Three Universities, Continues to Grow Brand Through Non-Traditional Venues
ATLANTA, Oct. 10, 2002 (PRIMEZONE) -- Cinnabon(R), Inc., a subsidiary of AFC Enterprises, Inc. (Nasdaq:AFCE), announced it has opened three Cinnabon bakeries on university campuses during this fall semester. Cinnabon recently opened bakeries at Virginia Tech University, University of South Carolina and Temple University. The university bakeries will offer an expanded menu including enhanced coffee selections and an extended array of specialty-baked goods.
SatCon Technology Corporation
SatCon Develops Two Rotary UPS Products in Response to Market Guidance
CAMBRIDGE, Mass., Oct. 10, 2002 (PRIMEZONE) -- SatCon Technology Corporation(r) (Nasdaq:SATC), a leader in critical power systems, has developed two versions of a new rotary Uninterruptible Power Supply (UPS) product in response to market guidance. Several units are now in testing at the Power Systems Facility in Worcester, MA, one at 315kVA and a larger unit at 2.2MVA. The 315kVA unit is now installed beside the Worcester plant and is configured to run the Worcester facility for testing in a real use environment. SatCon is now preparing for customer demonstrations and the official UPS product launch in the coming months.
Granite State Bankshares, Inc.
Granite State Bankshares, Inc. Announces a 22.6 Percent and 29.6 Percent Increase in Third Quarter and Year to Date Diluted Earnings Per Share
KEENE, N.H., Oct. 10, 2002 (PRIMEZONE) -- Granite State Bankshares, Inc. (Nasdaq:GSBI) today announced net earnings for the three and nine months ended September 30, 2002 of $3,447,000 and $10,504,000 compared to net earnings of $2,864,000 and $8,251,000 for the three and nine months ended September 30, 2001. Basic earnings per share were $.67 and $2.04 for the three and nine months ended September 30, 2002 compared to $.54 and $1.56 for the three and nine months ended September 30, 2001. Diluted earnings per share were $.65 and $1.97 for the three and nine months ended September 30, 2002 compared to $.53 and $1.52 for the three and nine months ended September 30, 2001, representing increases of 22.64% and 29.61%, respectively.
Pyrosequencing Shifts Emphasis Toward Near-Term Profitability; Company Reduces Operating Expenses by Approximately $7 Million on Annual Basis
UPPSALA, Sweden, Oct. 10, 2002 (PRIMEZONE) -- Pyrosequencing AB (Stockholm:PYROA) (Other OTC:PYRSF) today announced that in conjunction with a program aimed to accelerate the route to profitability, it has given notice regarding 23 people at the Company's headquarters in Uppsala, Sweden and initiated negotiations in accordance with the Codetermination Act. The program, which reflects the general slow down in the economy, is expected to decrease the cash expenses by approximately $7 million on an annual basis beginning in 2003. Pyrosequencing anticipates that the Company will accrue approximately $700,000 in the third quarter related to these reductions.
Industri-Matematik Intl. Corp
Industri-Matematik Announces Corporate Restructuring
MT. LAUREL, New Jersey, Oct. 10, 2002 (PRIMEZONE) -- Industri-Matematik International Corp. (Nasdaq:IMIC) -- the Order Company -- today announced a corporate restructuring designed to substantially reduce costs and refocus the Company for long-term growth. As part of the initiative, Industri-Matematik will move its corporate headquarters from Stockholm, Sweden to Mt. Laurel, New Jersey and will concentrate overall product strategy and initiatives around order management and logistics.