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Central Jersey Bancorp
Central Jersey Bancorp Announces Balance Sheet Restructuring, 1st Quarter 2007 Operating Results and a Five Percent Stock Dividend
LONG BRANCH, N.J., April 30, 2007 (PRIME NEWSWIRE) -- Central Jersey Bancorp (Nasdaq:CJBK), the parent company of Central Jersey Bank, N.A., announced that it has initiated a 2007 balance sheet restructuring strategy involving approximately $88.6 million of the investment securities held in the available-for-sale investment portfolio in accordance with Statement of Financial Accounting Standards No. 115 -- Accounting for Certain Investments in Debt and Equity Securities. The restructuring resulted in a one-time pre-tax charge of approximately $1.95 million, which is reflected in Central Jersey Bancorp's consolidated financial statements for the three months ended March 31, 2007. Available-for-sale investment securities, consisting primarily of lower yielding fixed rate callable agency investment securities, will be sold during the second quarter of 2007 and replaced with higher yielding investment securities with a comparable to modestly shorter aggregate weighted average life. The market value loss that these investment securities carried at March 31, 2007, was recorded as another than temporary impairment since Central Jersey Bancorp did not have the intent or ability to hold these securities to recovery. It is anticipated that the restructuring will result in prospective incremental pre-tax earnings of approximately $85,000 per month.
Kellogg Posts Strong Start to the Year; Raises Guidance
BATTLE CREEK, Mich., April 30, 2007 (PRIME NEWSWIRE) -- Kellogg Company (NYSE:K) today reported stronger than expected first quarter sales, operating profit, and earnings growth. These results were driven by innovation and effective brand building and were achieved despite cost headwinds and investment in future growth.
New SAS RAID Arrays From Infortrend Deliver Massive Storage
SANTA CLARA, Calif., April 30, 2007 (PRIME NEWSWIRE) -- RAID storage expert Infortrend(r) today unveiled the new 16-bay, 4Gigabit Fibre Channel (4G-FC) to SAS RAID arrays: the EonStor(r) (ES) S16F-R1430 redundant controller subsystems. Combining the company's powerful new ASIC400 engine with high performance 4G-FC transfer speeds and the improved features of Serial Attached SCSI (SAS), these new arrays deliver the reliability and processing capabilities required for even the most demanding data storage environments. The ES S16F supports SAS or SATA disk drives so that vendors can design cost- and performance-effective storage solutions, using high performance SAS drives for mission-critical solutions and cost-effective SATA drives for near-line backup environments.
Dayton Parts Chooses NetManage OnWeb to Transform Consumer Web Portal
CUPERTINO, Calif., April 30, 2007 (PRIME NEWSWIRE) -- NetManage, Inc. (Nasdaq:NETM), a software company that provides solutions for integrating, Web enabling and accessing enterprise information systems, today announced that automotive parts manufacturer Dayton Parts has selected NetManage OnWeb for iSeries to streamline and improve their customer-facing Web portal. The new OnWeb-powered portal, which has already helped reduce customer service calls while increasing overall site traffic by 800 percent, provides Dayton Parts customers with a streamlined single interface for ordering parts as well as monitoring and tracking orders.