latest news releases from the newsroom
ONI Systems Introduces New Multi-Service Gateway Platform, Interconnecting Metro and Long-Haul Networks
SAN JOSE, Calif., Oct. 29, 2001 (PRIMEZONE) -- ONI Systems Corp. (Nasdaq:ONIS), a leading provider of optical telecommunications systems for metropolitan and regional markets, today introduced the new ONLINE(tm) GP (Gateway Platform), a multi-service platform for aggregating and grooming data and TDM traffic into OC-48/STM-16 or OC-192/STM-64 payloads. The new product will eliminate the need for standalone data and SONET/SDH multiplexing equipment used to interconnect diverse networks or sub-networks, including metro and long-haul applications.
Frontline: General Meeting Information
OSLO, Norway, Oct. 29, 2001 (PRIMEZONE) -- Frontline Ltd. (NYSE:FRO) (the "Company") advises that the Annual General Meeting of the Company was held on Friday, October 26, 2001 at 2:00 p.m. (Bermuda time) at the registered office of the company. The following resolutions were passed:
Cauley Bowman Carney & Williams, PLLC
Cauley Geller Bowman & Coates, LLP Announces Class Action Lawsuit Against Internet Security Systems, Inc. on Behalf of Investors -- ISSX
LITTLE ROCK, Ark., Oct. 26, 2001 (PRIMEZONE) -- The Law Firm of Cauley Geller Bowman & Coates, LLP announced today that a class action has been filed in the United States District Court for the Northern District of Georgia on behalf of purchasers of Internet Security Systems, Inc. ("ISS" or the "Company") (Nasdaq:ISSX) publicly traded securities during the period between April 1, 2001 and July 2, 2001, inclusive (the "Class Period"). A copy of the complaint filed in this action is available from the Court, or can be viewed on the firm's website at http://www.classlawyer.com/pr/internet_security.pdf.
Stolt-Nielsen S.A. Restates 2000 Financial Statements (with link)
LONDON, Oct. 26, 2001 (PRIMEZONE) -- Stolt-Nielsen S.A. (Nasdaq:SNSA) (Oslo Stock Exchange:SNI) today announced that it has restated its results for the first quarter and full year of fiscal 2000. This restatement reclassifies the reported first quarter 2000 non-recurring, non-operating, non-cash gain of $32.5 million from retained earnings to paid in surplus in the consolidated balance sheet and eliminates it from the consolidated statement of income. The $32.5 million gain resulted from the issuance of shares of Stolt Offshore S.A. (SOSA), a consolidated subsidiary of SNSA, as partial consideration for the acquisition of ETPM S.A. and formation of the NKT Flexibles I/S joint venture. As a consequence, the first quarter and full year 2000 results have been adjusted to net losses of $2.5 million and $12.4 million, respectively, with corresponding net losses per share of $0.05 and $0.23. There was no impact on SNSA's total consolidated shareholders' equity, reported assets, liabilities, net operating revenue, income from operations, net loss before non-recurring items, cash flows, or compliance with debt covenants. There was also no impact on SOSA's reported 2000 financial statements. Restated SNSA condensed consolidated balance sheets and statements of income for the quarter ended February 29, 2000 and the year ended November 30, 2000 are attached.
Frontline Ltd.: Mandatory Notification of Trade
OSLO, Norway, Oct. 26, 2001 (PRIMEZONE) -- Frontline Ltd. (NYSE:FRO) has, based on the Stock Indexed Total Return Swap Programme with Nova Scotia Group (Scotia), been informed that the latter, through market purchases executed today, has acquired 50,000 Frontline common shares. The shares have been acquired at an average price of NOK 68.90.