latest news releases from the newsroom
Sun New Media Inc.
Sun New Media Appoints New Executive Officer
DIAMOND BAR, Calif., Nov. 1, 2005 (PRIMEZONE) -- Sun New Media Inc. (OTCBB:SNMD) ("SNMI") today announced the appointment of Mr. Clarence Lo to serve as the company's new Chief Financial Officer. Mr. Lo will replace Ms. Fendi Cheung, who had been serving as Sun New Media's acting CFO, effective immediately.
Decorize, Inc. Delivers Product for Cindy Crawford Home Collection
SPRINGFIELD, MO., Nov. 1, 2005 (PRIMEZONE) -- Decorize, Inc. (AMEX:DCZ) announced that national retailer Rooms To Go has introduced a nine piece accessory package designed in collaboration with Decorize, Rooms To Go and Cindy Crawford and manufactured by Decorize. The package will be displayed as part of the Cindy Crawford Home Collection exclusive to Rooms To Go. The versatile package incorporates transitional styling and includes a free-standing television cabinet with eight matching accessories creating a combination of fashionable design, functionality and value.
New Life Scientific Inc.
New Life Scientific is Awarded Contract to Conduct Clinical Studies for Major European Pharmaceutical Company
FREEHOLD, N.J., Nov. 1, 2005 (PRIMEZONE) -- New Life Scientific, Inc. (OTCBB:NWLF) announced today that a major European pharmaceutical company has signed a contract for just under $1,000,000 with PharmaTrials International (PTI), a wholly owned subsidiary of NWLF which operates a Contract Research Organization (CRO) in Kiev, Ukraine. The terms of the contract dictate strict confidentiality as to the contracting party and the specific nature of the study. It is the first major study to be awarded to PTI since it was acquired by NWLF. The general scope of the project is a Phase II clinical study for a new therapeutic indication, to be conducted exclusively by PTI's at seven sites in Ukraine. The contract is scheduled for completion in the second quarter of 2006
Ocwen Financial Corp.
Ocwen Financial Corporation Announces Third Quarter Net Income
WEST PALM BEACH, Fla., Nov. 1, 2005 (PRIMEZONE) -- Ocwen Financial Corporation (NYSE:OCN) today reported net income of $7.9 million or $0.13 per share for the third quarter of 2005 and $13.2 million or $0.21 per share for the nine months ended September 30, 2005. This compares to net income of $39.3 million or $0.61 per share for the third quarter of 2004 and $55.2 million or $0.83 per share for the nine month period in 2004. The third quarter and year to date results for 2004 include a net tax benefit of $31.8 million, primarily reflecting the partial reversal of the deferred tax asset valuation allowance that was established in prior years. Results for the three and nine months ended September 30, 2005 are net of a tax provision of $2.3 million and $5.1 million, respectively.