DENVER & PERTH, Australia--(BUSINESS WIRE)-- Samson Oil & Gas Limited (ASX: SSN) (NYSE AMEX: SSN) advises that it has filed its Interim Financial Report for the Half Year Ended 31 December 2011 and its December 2011 Quarterly Report on Form 10-Q. Both reports are now available on the Company’s website:
Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN". Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange AMEX under the symbol "SSN". Each ADS represents 20 fully paid Ordinary Shares of Samson. Samson has a total of 1,996 million ordinary shares issued and outstanding (including 245 million options exercisable at AUD 1.5 cents), which would be the equivalent of 99.8 million ADSs. Accordingly, based on the NYSE AMEX closing price of US$2.13 per ADS on February 9th, 2012 the Company has a current market capitalization of approximately US$208.2 million. Correspondingly, based on the ASX closing price of A$0.098 on February 9th, 2012, the Company has a current market capitalization of A$191.7 million. The options have been valued at their closing price of A$0.082 on February 9th, 2012 and translated to US$ at the current exchange of 1.08 for purposes of inclusion in the US$ market capitalization calculation.
For and on behalf of the board ofSAMSON OIL & GAS LIMITED
TERRY BARRManaging Director
Statements made in the presentation that is available on Samson’s website that are not historical facts may be forward looking statements, including but not limited to statements using words like “may”, “believe”, “expect”, “anticipate”, “should” or “will.”
Actual results may differ materially from those projected in any forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward looking information, including uncertainties inherent in estimating the methods, timing and results of exploration activities.
A description of the risks and uncertainties that are generally attendant to Samson and its industry, as well as other factors that could affect Samson’s financial results, are included in the Company's report to the U.S. Securities and Exchange Commission on Form 20-F, a copy of which is available at .sec.gov/edgar/searchedgar/webusers.htm.
Samson Oil & Gas LimitedTerry Barr, CEO, 303-296-3994Cell: 970-389-5047
Source: Samson Oil & Gas Limited
CORONA, Calif., Feb. 9, 2012 /PRNewswire/ -- West Coast Customs (WCC) continues season two of their show on Velocity, Inside West Coast Customs February 12, 2012 at 9:00 p.m. EST for another thrilling episode. Inside West Coast Customs is the next exciting show featuring WCC's outrageous builds. WCC continues the second season by surprising a Monster Energy contest winner, and giving him a chance for a hands on experience with Ryan and his team to restore his 30 year old Buick Skylark.
(Photo: http://photos.prnewswire.com/prnh/20120209/CL51277 )(Logo: http://photos.prnewswire.com/prnh/20120118/CL38110LOGO-b )
"We were excited and worried about going through thousands of video entrants to pick a winner," said Ryan Friedlinghaus, founder and CEO of West Coast Customs. "We received some truly amazing videos, but I eventually chose Dave Kiss and his dad's Skylark to best showcase the genuine need for a WCC overhaul."
Sifting through thousands of amazing entries and videos, Ryan and his team narrowed down the results to 50 finalists. Finalist Dave Kiss was selected as the grand-prize winner, while the lucky 49 other finalists were awarded brand new WCC/Asanti wheels and Continental Tires. Kiss entered the contest to restore his father Raymond's Buick Skylark, which has been sitting in the garage for 30 years. Not only do they win a car makeover, but Kiss's dream of working hand-in-hand with the crew on this build comes true, as well.
This is West Coast Customs and Monster Energy, joining forces to turn an old, broken-down Skylark into a full-custom and formidable bird of prey. This is Monster Week!
Owner Ryan Friedlinghaus and his shop have been doing exclusive custom builds for the MTV show Pimp my Ride, TLC's Street Customs, Street Customs Berlin and now on his new show on Velocity, Inside West Coast Customs. Ryan and his crew are world-renowned for their extreme vehicles, outrageous features and unique designs.
Check out Inside West Coast Customs, Sunday at 9:00 p.m. EST on Velocity.
FOR MEDIA INFORMATION VISIT WWW.WESTCOASTCUSTOMS.COM OR VELOCITY.TVFOLLOW US ON:TWITTER @SELFMADERYANFACEBOOK.COM/OFFICIALWCC
About West Coast CustomsHeadquartered in Corona, Calif., West Coast Customs was founded in 1993 by Ryan Friedlinghaus. Car enthusiasts know West Coast Customs as the premiere high-end modification shop that can transform any vehicle into a work of art. West Coast Customs is not only known for building cars but delivering dynamic television content to a wide range of viewers. West Coast Customs has been the exclusive shop featured in MTV shows Pimp my Ride, TLC's Street Customs, Street Customs Berlin and now Velocity, Inside West Coast Customs.
SOURCE West Coast Customs
Milestone Achievements for Earnings and Balance Sheet Growth
LOS ANGELES--(BUSINESS WIRE)-- The Private Bank of California (the “Bank”) (OTCBB: PBCA) announced its unaudited financial results for the year and quarter ended December 31, 2011.
2011 Financial Highlights:
- Net income totaled $1,962,000 for the year ended December 31, 2011, the highest in the Bank’s history and up from $105,000 in 2010. Net income for the quarter was $405,000, improving from a net loss of $236,000 for the same quarter in 2010.
- The Bank’s operating leverage improved significantly in the year ended December 31, 2011 as net interest income increased $2,274,000 more than the increase in total noninterest expense compared to 2010. As a result, the Bank’s efficiency ratio improved from 98% for the year ended December 31, 2010 to 83% for the year ended December 31, 2011.
- Total assets grew an impressive $161 million or 37% year-over-year and $30 million or 5% from the linked quarter to a record $597 million at December 31, 2011.
- Total deposits rose $114 million or 30% from December 31, 2010 and $13 million or 3% from the linked quarter to $497 million at December 31, 2011. Demand deposits totaled $230 million and accounted for 46% of total deposits at yearend 2011.
- Total earning loans were $299 million at December 31, 2011, an increase of $85 million or 40% from yearend 2010 and $27 million or 10% from the linked quarter.
- Total nonaccrual loans were $2.8 million at December 31, 2011, representing less than 1% of total loans outstanding. The Bank had no earning loans past due 90 days or more at December 31, 2011.
- The allowance for credit losses was $5.3 million or 1.76% of total loans outstanding at December 31, 2011. The provision for credit losses for the year ended December 31, 2011 totaled $1.6 million and is primarily attributable to loan growth; the provision for credit losses for the year ended December 31, 2010 was $1.2 million and primarily related to problem credits. Net loan charge-offs only totaled $100,000 for the year ended December 31, 2011, comparing favorably with net loan charge-offs of $1.2 million for the year ended December 31, 2010.
- Capital ratios remain strong, continuing to significantly exceed all regulatory guidelines for “well-capitalized” financial institutions:
|
Actual12/31/11 |
“Well-Capitalized”Minimum |
|||||||||||||||||||||||
| Tier 1 leverage ratio | 8.01 | % | 5.00 | % | ||||||||||||||||||||
| Tier 1 risk-based capital ratio | 14.54 | % | 6.00 | % | ||||||||||||||||||||
| Total risk-based capital ratio | 15.80 | % | 10.00 | % | ||||||||||||||||||||
“The Private Bank of California had a milestone year in 2011,” stated Chief Executive Officer David R. Misch. “Our balance sheet grew impressively during the year as total assets approached $600 million, total earning loans approached $300 million and total deposits approached $500 million at December 31, 2011. Credit quality and our capital ratios remained strong. Most importantly, we achieved a record net income of nearly $2 million and significantly improved our operating leverage.”
"In 2011, we saw many of the pieces come together - new clients, colleagues and offices strengthened our capabilities in several areas," said Richard A. Smith, President of the Bank. "This year, we will be introducing improved technology and products that will give us the tools we need to capture additional market share. We are extremely excited about 2012," he continued.
About The Private Bank of California
The Private Bank of California is a full-service depository financial institution that specializes in Private, Entertainment and Business Banking and caters to a select group of individuals and private companies. The Bank is a member of the Federal Deposit Insurance Corporation, chartered in California and administratively headquartered at 10100 Santa Monica Boulevard, Suite 2500, Los Angeles 90067. The Bank has Branch Offices in Century City (10100 Santa Monica Boulevard, Suite 2430, Los Angeles 90067) and Hollywood (7083 Hollywood Boulevard, Suite 650, Los Angeles 90028), as well as a Loan Production Office in Downtown Los Angeles (601 South Figueroa Street, Suite 1850, Los Angeles 90017). Additional information is available at www.tpboc.com or by calling 310.286.0710.
Forward-Looking Statements: Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to The Private Bank of California’s current expectations regarding deposit and loan growth and operating results. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to differ materially from those expressed, suggested or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: (1) the impact of changes in interest rates, (2) a decline in economic conditions, (3) an increase in competition among financial service providers impacting on the Bank’s operating results and ability to attract deposit and loan customers and the quality of the Bank’s earning assets and (4) an increase in government regulation. The Bank does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements.
| THE PRIVATE BANK OF CALIFORNIA | ||||||||||||||||||||||||||||||||||||
| FINANCIAL HIGHLIGHTS (Unaudited) | ||||||||||||||||||||||||||||||||||||
| December 31, | September 30, | |||||||||||||||||||||||||||||||||||
| 2011 | 2010 | 2011 | ||||||||||||||||||||||||||||||||||
|
AT END OF THE PERIOD: |
||||||||||||||||||||||||||||||||||||
| Total assets | $ | 596,700,000 | $ | 435,550,000 | $ | 566,930,000 | ||||||||||||||||||||||||||||||
| Securities available-for-sale, at fair value | $ | 267,370,000 | $ | 198,231,000 | $ | 256,963,000 | ||||||||||||||||||||||||||||||
| Total loans | $ | 301,809,000 | $ | 215,150,000 | $ | 272,384,000 | ||||||||||||||||||||||||||||||
| Less allowance for credit losses | (5,322,000 | ) | (3,872,000 | ) | (4,544,000 | ) | ||||||||||||||||||||||||||||||
| Net loans | $ | 296,487,000 | $ | 211,278,000 | $ | 267,840,000 | ||||||||||||||||||||||||||||||
| Transactional deposit accounts | $ | 249,860,000 | $ | 199,374,000 | $ | 233,333,000 | ||||||||||||||||||||||||||||||
| Money market deposit accounts | 170,798,000 | 136,843,000 | 174,695,000 | |||||||||||||||||||||||||||||||||
| Other nontransactional deposit accounts | 76,098,000 | 46,483,000 | 75,336,000 | |||||||||||||||||||||||||||||||||
| Total deposits | $ | 496,756,000 | $ | 382,700,000 | $ | 483,364,000 | ||||||||||||||||||||||||||||||
| Total shareholders' equity | $ | 49,182,000 | $ | 39,708,000 | $ | 48,799,000 | ||||||||||||||||||||||||||||||
| Allowance for credit losses to total loans ratio | 1.76 | % | 1.80 | % | 1.67 | % | ||||||||||||||||||||||||||||||
| Tier 1 leverage ratio | 8.01 | % | 9.50 | % | 8.53 | % | ||||||||||||||||||||||||||||||
| Tier 1 risk-based capital ratio | 14.54 | % | 17.50 | % | 15.43 | % | ||||||||||||||||||||||||||||||
| Total risk-based capital ratio | 15.80 | % | 18.76 | % | 16.69 | % | ||||||||||||||||||||||||||||||
|
FOR THE QUARTER ENDED: |
||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 4,057,000 | $ | 3,030,000 | $ | 3,901,000 | ||||||||||||||||||||||||||||||
| Provision for credit losses | 762,000 | 540,000 | 161,000 | |||||||||||||||||||||||||||||||||
| Noninterest income | 660,000 | 378,000 | 70,000 | |||||||||||||||||||||||||||||||||
| Noninterest expense | 3,550,000 | 3,104,000 | 2,927,000 | |||||||||||||||||||||||||||||||||
| Income (loss) before income taxes | 405,000 | (236,000 | ) | 883,000 | ||||||||||||||||||||||||||||||||
| Provision for income taxes | --- | --- | --- | |||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 405,000 | $ | (236,000 | ) | $ | 883,000 | |||||||||||||||||||||||||||||
| Net income (loss) | $ | 405,000 | $ | (236,000 | ) | $ | 883,000 | |||||||||||||||||||||||||||||
| Less preferred stock dividends and adjustments | (25,000 | ) | (88,000 | ) | (241,000 | ) | ||||||||||||||||||||||||||||||
| Net income (loss) available to common shareholders | $ | 380,000 | $ | (324,000 | ) | $ | 642,000 | |||||||||||||||||||||||||||||
| Net income (loss) per common share outstanding-basic | $ | 0.10 | $ | (0.08 | ) | $ | 0.17 | |||||||||||||||||||||||||||||
| Average common shares outstanding | 3,826,506 | 3,816,501 | 3,825,623 | |||||||||||||||||||||||||||||||||
|
YEAR-TO-DATE: |
||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 15,193,000 | $ | 10,754,000 | ||||||||||||||||||||||||||||||||
| Provision for credit losses | 1,550,000 | 1,165,000 | ||||||||||||||||||||||||||||||||||
| Noninterest income | 1,140,000 | 1,172,000 | ||||||||||||||||||||||||||||||||||
| Noninterest expense | 12,820,000 | 10,655,000 | ||||||||||||||||||||||||||||||||||
| Income (loss) before income taxes | 1,963,000 | 106,000 | ||||||||||||||||||||||||||||||||||
| Provision for income taxes | 1,000 | 1,000 | ||||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 1,962,000 | $ | 105,000 | ||||||||||||||||||||||||||||||||
| Net income (loss) | $ | 1,962,000 | $ | 105,000 | ||||||||||||||||||||||||||||||||
| Less preferred stock dividends and adjustments | (441,000 | ) | (352,000 | ) | ||||||||||||||||||||||||||||||||
| Net income (loss) available to common shareholders | $ | 1,521,000 | $ | (247,000 | ) | |||||||||||||||||||||||||||||||
| Net income (loss) per common share outstanding-basic | $ | 0.40 | $ | (0.07 | ) | |||||||||||||||||||||||||||||||
| Average common shares outstanding | 3,826,417 | 3,795,497 | ||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||
The Private Bank of CaliforniaDavid R. MischChief Executive Officer310-728-1949 (direct)drmisch@tpboc.comorJoyce N. KanedaExecutive Vice PresidentChief Financial Officer310-728-1948 (direct)jnkaneda@tpboc.comorLa Voz MarketingStacey Kaszton213-925-8177 (direct)stacey@lavozmarketing.com
Source: The Private Bank of California
LOS ANGELES, CA -- (MARKET WIRE) -- 02/09/12 -- LA's top DIY destination to buy cheap Valentine's roses is a procrastinator's paradise for last minute cupids and budget wise DIY shoppers looking for round the clock flower deals up to 70 percent off retail prices.
"California Flower Mall is a huge marketplace filled with millions of gorgeous farm fresh discount and wholesale blooms from around the world. DIY shoppers that buy cheap Valentine's roses here don't sacrifice quality to save on prices," says Hilda Jimenez, CFM Operations Manager. "They're buying high demand, top quality, rich red imported roses direct from farms all over the world then arranging them -- with the help of our vendors -- and delivering the rose bouquet themselves.
"No one needs to show up empty handed. At these prices, thrifty shoppers can express their love and care with beautiful Valentine's flower gifts for their sweethearts, Moms, Grandmas, Aunts, Sisters and have plenty left for a special dinner."
Jimenez adds, "Valentine's Day is the second largest flower giving holiday of the year. California Flower Mall is the only flower market in the six-block LA Flower District open convenient hours that fit busy schedules, Saturday and Sunday from 4am - 11pm on Valentine's Weekend. And round the clock from Monday 4am until 6pm Valentine's Day Feb. 14. Admission is free."
Gersain Bustos, President of Growers Direct at CFM, says, "Mother Nature has cooperated with favorable climate conditions for Valentine's rose production worldwide this year. Growers do not have weather-related product shortages. There is always a short growing season after meeting Christmas demand and other factors affecting Valentine's red rose demand."
The National Retail Federation projects record 2012 Valentine's spending according to a recent consumer survey. The NRF says more than a third of Valentine's Day participants (36.0 percent) will buy flowers, versus 34.3 percent last year; 58.2 percent of men plan to, and that's up 2 percentage points from 2011. Total flower purchases should rack up $1.9 billion, from $1.7 billion last year, according to NRF, exceeding spending on candy ($1.5 billion); clothing ($1.4 billion) and gift cards ($1.1 billion).
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1882518
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Mark Chatoff President California Flower Mall 825 San Pedro Street Los Angeles, CA 90114 (213) 488-1983 Phone (310) 738-2441 (mobile/text) Email Contact @CalifFlowerMart Hilda Jimenez Operations Director (818) 730-7769 (mobile/text) Email Contact @CalifFlowerMart
Source: California Flower Mall
BURBANK, Calif.--(BUSINESS WIRE)-- Phoenix Audio Technologies, a global leader in audio technology is proud to announce a new distributor for their products, D&H Distributing.
Founded in 2004, Phoenix Audio offers conference room audio solutions for Voice over IP (VOIP), Web Conferencing, Distance Learning, and Videoconferencing applications. Their products include Microphones, Speakerphones, Software, PCI products and other audio accessories that improve the performance of existing conferencing devices. These products enable people to communicate freely and naturally with easy to use, plug-and-play devices.
“Having D&H, the nation’s leading technology distributor carry our products will answer the growing demand for Phoenix Audio Technologies’ audio solutions,” said Jonathan Boaz, Vice President of Sales and Marketing for Phoenix Audio Technologies.
About Phoenix Audio Technologies
Phoenix Audio is an innovator in audio technology that delivers best in class communication hardware for enterprise, SME and SOHO markets. They are currently developing a complete line of groundbreaking VoIP endpoints that will respond to the market demand for high quality, cost effective and user friendly hardware that will improve the user’s audio conference experience. For more information visit www.phnxaudio.com or e-mail info@phnxaudio.com
About D&H
As the nation’s leading technology distributor, D&H provides a wealth of resources to empower the dealer, installer, and reseller channels, delivering a broad selection of categories, products and applications. The company’s offerings span the areas of consumer electronics, home entertainment, home networking and automation, small office/home office, video surveillance, digital imaging, video gaming and more. D&H’s multi-market expertise, account-dedicated sales team, sterling service and flexible financing options are unmatched in the industry.
D&H ships from five separate locations in North America, including its US headquarters in Harrisburg, PA and its Canadian headquarters in Mississauga, Ontario. Additional US warehouses are located in Atlanta, GA; Chicago, IL; and Fresno, CA. Call D&H’s toll-free number at (800) 340-1001 or visit www.dandh.com for more information.
Phoenix Audio TechnologiesJonathan Boaz, (818) 937-4774jboaz@phnxaudio.com
Source: Phoenix Audio Technologies
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