latest news releases from the newsroom
Northrop Grumman Corp.
Northrop Grumman Announces Results of Debt Tender Offers
LOS ANGELES, March 18, 2003 -- Northrop Grumman Corporation (NYSE:NOC) announced today that the previously announced offers to purchase outstanding debt securities by its wholly owned subsidiary Northrop Grumman Space & Mission Systems Corp. (formerly TRW Inc.) expired at the scheduled expiration time of 5:00 p.m., New York City time, on March 17, 2003. The offers to purchase were for any and all of the issues of outstanding Northrop Grumman Space & Mission Systems Corp. debt securities described below at prices calculated at the time a holder agreed to tender. Northrop Grumman Space & Mission Systems has accepted for purchase all such securities tendered prior to the expiration time on the terms and subject to the conditions of the offers.
Blyth, Inc. Reports Record 4th Quarter and Full Year Sales
GREENWICH, Conn., March 18, 2003 (PRIMEZONE) -- Blyth, Inc. (NYSE:BTH), a leader in home fragrance and decorative accessories, reported today that fourth quarter Net Sales increased 5% to $380.5 million versus sales of $362.3 million a year earlier. Operating Profit grew 51% to $39.0 million from $25.9 million in the prior year period. Net Earnings for the quarter were $22.9 million versus $13.6 million a year earlier, an increase of 69%. Diluted Net Earnings Per Share for the fourth quarter were $0.50 compared to $0.29 for the same period last year and include a previously announced after-tax impairment charge of $2.1 million related to placing the Company's U.K.-based specialty retailer Wax Lyrical into receivership in late December, which negatively impacted earnings per share by $0.05. In the fourth quarter of fiscal year 2002, the Company recorded pre-tax restructuring and impairment charges of approximately $14.1 million, which negatively impacted Earnings Per Share by $0.19.
Virage Delivers Intel Solutions Blueprint for Enterprise Webcasting
SAN MATEO, Calif., March 18, 2003 (PRIMEZONE) -- Virage, Inc. (Nasdaq:VRGE) today announced that it has developed a Solutions Blueprint for large-scale enterprise webcasting based on Intel(r) Architecture. Virage's VS Webcasting(tm) software, deployed at more than a dozen corporations and universities worldwide, is tuned and optimised for the Intel(r) Xeon(tm) processor. Virage is a leading provider of video and rich media communication software.
Federal Security Protection Services Inc.
FSPS, Inc. and Valta Communications, Inc. Sign Letter of Intent
NEW ORLEANS, March 18, 2003 (PRIMEZONE) -- Federal Security Protection Services, Inc. ("FSPS") (OTCBB:FSPS) announced the signing of a Letter of Intent with Valta Communications, Inc. ("Valta") to negotiate and consummate a tax-free stock exchange acquisition agreement, subject to due diligence. Gary O'Neal, president and CEO of FSPS, said, "We are very pleased to have signed the Letter of Intent with Valta. The company, under the leadership of Mr. Dustin Thompson, has grown very significantly in its two and one half years of existence, developing into a profitable business with very high standards for delivery of its services. We will work together to have the acquisition agreement completed within sixty days."
Stockgroup Information Systems Inc.
Stockgroup Launches Financial Site for National Bank Financial
VANCOUVER, B.C., March 18, 2003 (PRIMEZONE) -- Stockgroup Information Systems Inc. (OTCBB:SWEB) (TSX Venture Exchange:SWB), a leading provider of financial information and technology and National Bank Financial, a wholly owned subsidiary of National Bank of Canada (BNC), today announced the launch of a new financial resource portal for National Bank Financial's clients. The financial resource portal is powered by the software tools and content in Stockgroup's proprietary Financial Content Management System. National Bank Financial is one of the leading securities dealers in Canada.