latest news releases from the newsroom
Ocwen Financial Corp.
Ocwen Forms School of Mortgage Origination
WEST PALM BEACH, Fla., Feb. 9, 2006 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN), the largest global outsourcing provider of transaction processing solutions for the mortgage industry, has formed the Ocwen School of Mortgage Origination (OSMO) and will graduate its first class of 50 underwriters this month.
Turnaround Partners, Inc.
Emerge Capital Corp. Announces Sale of its Real Estate Subsidiary, Lehigh Acquisition Corp for $5.28 Million -- Sale Expected to Book Gain of $1.1 Million in First Quarter of `06 for Emerge Capital
HOUSTON, Feb. 9, 2006 (PRIMEZONE) -- Emerge Capital Corp. (OTCBB:EMGC) announces today the sale of its real estate subsidiary, Lehigh Acquisition Corp for $5.28 million. Emerge Capital expects to book a $1.1 million gain on the sale (1st Quarter '06), subject to review of the sale by its independent accounting firm. Tim Connolly, CEO of Emerge Capital Corp., commented, "The sale of Lehigh results in the elimination of assumed debt and other liabilities in excess of $5 million. This sale will allow us to focus our efforts and capital resources on our primary mission of providing restructuring strategies, turnaround management, and merchant banking services for institutional funds and micro-cap public companies. We are pleased to announce this sale with such a positive result."
Discovery Laboratories, Inc.
Discovery Labs to Present at the BIO CEO & Investor Conference
WARRINGTON, Pa., Feb. 9, 2006 (PRIMEZONE) -- Discovery Laboratories, Inc. (Nasdaq:DSCO) announced today that Robert J. Capetola, Ph.D., President and Chief Executive Officer of Discovery, will present an update on the Company's recent progress at the BIO CEO & Investor Conference held at The Waldorf Astoria Hotel in New York. The conference will be simultaneously webcast over the Internet.
Callbright Renews Relationship with FordDirect
MOUNTAIN VIEW, Calif., Feb. 9, 2006 (PRIMEZONE) -- Today Callbright announced it has renewed its relationship with FordDirect as a user and licensed re-seller of Callbright's communications management software. Using state-of-the-art technology, Callbright provides FordDirect and its dealers web-based tools to track their phone calls, measure results from advertising campaigns, and train their salespeople.
SouthCrest Financial Group, Inc.
SouthCrest Financial Group, Inc. Announces Fourth Quarter Earnings
FAYETTEVILLE, Ga., Feb. 9, 2006 (PRIMEZONE) -- SouthCrest Financial Group, Inc. (OTCBB:SCSG) reported net income of $1,154,000 for the quarter ended December 31, 2005 compared to $1,172,000 for the same quarter a year ago. For the year ended December 31, 2005, net income was $4,844,000 compared to $3,857,000 for the same period in 2004. Most of the increase in net income for year compared to the prior year was the result of the Company's merger with First Polk Bankshares, Inc. on September 30, 2004. Assets and liabilities, and results of operations for First Polk are only included in the balance sheets and income statements of the Company from the date of merger going forward. On a per share basis, results were $0.32 per share for the current quarter compared to $0.32 for the same period a year ago, and $1.36 per share for the year ended December 31, 2005 compared to $1.52 for the year ended December 31, 2004. Reductions in earnings per share are mostly due to dilution resulting from increased number of shares resulting from the merger with First Polk. Current quarter results include recognized loss on disposal of equipment of $184,000, or $114,000 net of tax. This represents $0.03 per share.
CDMA Development Group
CDG Congratulates SkyLink on its Launch of 1xEV-DO Services in Russia
COSTA MESA, Calif., Feb. 9, 2006 (PRIMEZONE) -- The CDMA Development Group (CDG) (www.cdg.org) congratulated SkyLink today on its commercial deployment of 3G CDMA2000(r) 1xEV-DO services in the greater Saint Petersburg area. Under the brand name "SkyTurbo," the operator will offer its customers next-generation wireless multimedia services and further drive its data revenue. SkyLink joins 29 other operators across the world in deploying commercial 1xEV-DO services, is the fourth to commercially deploy 1xEV-DO services in the 450 MHz band and the first operator to offer WorldMode(tm) CDMA450 services, which enable customers to use their CDMA2000 1xEV-DO devices to access GSM when traveling internationally.