latest news releases from the newsroom
Emulex Announces Preliminary Fourth Quarter Results
COSTA MESA, Calif., July 10, 2008 (PRIME NEWSWIRE) -- Emulex Corporation (NYSE:ELX) today announced that it expects to report revenues of approximately $111-$113 million for the fourth fiscal quarter ended June 29, 2008, compared to the range of $118-$123 million previously projected in April 2008 during the Company's third quarter conference call. The Company expects non-GAAP earnings per share for its fourth fiscal quarter to be approximately $0.19-$0.20 per diluted share, compared to the prior projection of $0.24-$0.27 per diluted share. On a GAAP basis, excluding any charges related to the recently implemented globalization initiatives, the Company expects to report earnings of approximately $0.08-$0.09 per diluted share compared to the prior projection of $0.13-$0.16 per diluted share. Although the exact amount of the charges related to the globalization initiatives cannot be determined at this time, such charges may result in an after tax loss for the quarter on a GAAP basis.
Eastmain Resources Inc.
Eastmain Resources Inc.: Ruby Hill Project -- Drilling Underway
TORONTO, July 10, 2008 (PRIME NEWSWIRE) -- Eastmain Resources Inc. (TSX:ER) announces that drilling is underway on its wholly-owned Ruby Hill Project. The project is located in the eastern portion of the Upper Eastmain River Greenstone belt approximately 325 km north-northeast of Chibougamau, Quebec. Ruby Hill comprises two large claim blocks totaling 257 claims, which cover 13,545 hectares of potential Eastmain Mine series rock formations.
Threshold Pharmaceuticals, Inc.
Threshold Pharmaceuticals Announces $18 Million Private Equity Financing
REDWOOD CITY, Calif., July 10, 2008 (PRIME NEWSWIRE) -- Threshold Pharmaceuticals, Inc. (Nasdaq:THLD) today announced that it has entered into a purchase agreement with a select group of investors that includes Sutter Hill Ventures, HealthCare Ventures, LLC, Alta Partners and Three Arch Partners in connection with a proposed sale of the Company's common stock, par value $.001 per share, for a per share purchase price equal to $0.34 per share. Investors will receive a warrant to purchase 0.4 shares of common stock for each share of common stock purchased. The warrants will have a five-year term and an exercise price equal to $0.39 per share. The Company anticipates raising gross proceeds of $18.3 million and issuing 53,823,530 shares of common stock, and warrants to purchase 21,529,413 shares of common stock. Four members of the Company's management team will purchase 1,470,588 of the shares of common stock offered. Net offering proceeds are expected to be approximately $17 million. Lazard Freres & Co. LLC and MTS Securities, LLC, an affiliate of MTS Health Partners, served as the placement agents in the offering.
Whitney Holding Corporation
Whitney Preannounces Credit Quality Results
NEW ORLEANS, July 10, 2008 (PRIME NEWSWIRE) -- Whitney Holding Corporation (Nasdaq:WTNY) expects to record a credit loss provision for the second quarter between $33 million and $37 million. Net charge-offs are expected in the range of $15 million to $18 million. Nonperforming assets are expected to increase between $8 million and $12 million from first quarter 2008.
Bassett Furniture Industries, Inc.
Bassett Announces Second Quarter 2008 Results of Operations
BASSETT, Va., July 10, 2008 (PRIME NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq:BSET) announced today its results of operations for its fiscal quarter and 27 week period ended May 31, 2008.
Bank of Florida Corp. Announces Second Quarter Earnings Call
NAPLES, Fla., July 10, 2008 (PRIME NEWSWIRE) -- Bank of Florida Corp. (Nasdaq:BOFL), a $1.4 billion-asset multi-bank holding company based in Naples, Florida, today announced the date and time for its second quarter earnings call.
Education Realty Trust, Inc.
Education Realty Trust Declares Second Quarter Dividend
MEMPHIS, Tenn., July 10, 2008 (PRIME NEWSWIRE) -- Education Realty Trust, Inc. (NYSE:EDR), a leader in the ownership, management and development of student housing, today announced that its board of directors has approved a quarterly cash dividend of $0.205 per share of common stock for the quarter ended June 30, 2008. The dividend will be payable August 15, 2008, to shareholders of record as of July 31, 2008.
Furniture Brands International
Furniture Brands Transitions to Operating Company Model, Moves to New World Headquarters
ST. LOUIS, July 10, 2008 (PRIME NEWSWIRE) -- Furniture Brands International (NYSE:FBN) today announced that the company is furthering its transition to an operating company model with the upcoming move of its St. Louis corporate headquarters to a new, nearby location that will house approximately 150 additional employees. With this move, the Furniture Brands corporate organization will total approximately 225 employees providing a full range of corporate functions for organization. While structured as a holding company, Furniture Brands had employed more than double the number of employees to provide the same level of corporate support. Complementing the company's new world headquarters in St. Louis is the recent opening in Dongguan, China of FBN Asia's headquarters.