SARATOGA SPRINGS, NY -- (MARKET WIRE) -- 11/11/09 -- Espey Mfg. & Electronics Corp. (NYSE Amex: ESP) reports results for the first three months of fiscal year 2010.
Net sales for the first quarter of fiscal 2010, July 1 to September 30, 2009, increased 13.6% to $6,874,940, compared with last year's first quarter net sales of $6,053,519. Net income for the period rose substantially to $992,763, $.47 per diluted share, as compared with net income of $398,296, $.19 per diluted share for the same period last year.
New sales orders in the first quarter of fiscal 2010 decreased to approximately $4.8 million, compared with $5.5 million in the first quarter of fiscal 2009. The sales order backlog for the Company was at $37 million on September 30, 2009, a decrease of $7.2 million, compared with last year's sales order backlog of $44.2 million on September 30, 2008.
Mr. Howard Pinsley, CEO, commented, "We expect the first quarter success to continue in the future. Our outlook for new business remains strong. We are very confident going forward."
Espey's primary business is the development, design, and production of specialized military and industrial power supplies/electronic equipment. The Company's web site can be found on the Internet at www.espey.com.
This press release may contain certain statements that are "forward-looking statements" and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company's current expectations or beliefs concerning future events. The matters covered by these statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.
Espey Mfg. & Electronics Corp. comparative unaudited three-month period
ended September 30, 2009 and 2008.
Three Months
2009 2008
---------- ----------
Sales: $6,874,940 $6,053,519
Net Income: 992,763 398,296
Income per share:
Basic .47 .19
Diluted .47 .19
Weighted average number of
Shares outstanding:
Basic 2,116,984 2,102,306
Diluted 2,118,848 2,116,039
For further information, contact Mr. David O'Neil or Mr. Howard Pinsley (518) 245-4400
CALGARY, ALBERTA--(Marketwire - Nov. 11, 2009) - Shear Minerals Ltd. (TSX VENTURE: SRM) ("Shear" or the "Corporation") is pleased to announce that it has settled a total of $253,098.72 of trade payables through the issuance of 3,893,826 Common Shares of the Corporation at a deemed price of $0.065 per share (this includes the amount as per press release dated September 28, 2009).
The issuance of common shares in the capital of the Corporation will not result in a change of control; is pursuant to exemptions from prospectus and registration requirements; and is subject to a 4 month restricted period. This transaction is subject to the receipt of regulatory approval.
About Shear Minerals:
Shear is a Canadian-based exploration company focused on diamond exploration in the Canadian North, where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of eight diamond projects, seven of which are drill-ready. Shear has advanced its flagship Churchill Diamond Project from a conceptual idea to an expanding diamond district hosting 88 kimberlites in the Kivalliq region of Nunavut.
Shear's main Churchill Diamond Project and Chesterfield Inlet Diamond Project is owned approximately 62.3% by Shear and 37.7% by Stornoway Diamond Corp. and is comprised of the diamond rights to more than 760,000 acres located near the communities of Rankin Inlet and Chesterfield Inlet in the Kivalliq region of Nunavut. At Churchill work is presently focused on continued exploration of new promising indicator mineral trains and geophysical anomalies as well as the evaluation of a system of significantly diamond-bearing, vertically-emplaced kimberlite dykes that have returned sample grades of up to 2.18 carats per tonne. The 2009 field program is under the supervision of Pamela Strand, P. Geol., a Qualified Person under NI 43-101, who has reviewed and approved the contents of this news release.
On behalf of the Board SHEAR MINERALS LTD.
Pamela Strand, P. Geol., President
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Shear Minerals Ltd.
Pamela Strand
President
(780) 435-0045 or Toll Free: 1-866-298-9695
www.shearminerals.com
Source: Shear Minerals Ltd.
Executive with 30+ Years Senior Management Experience Helps Company Deliver Certified-Organic, Fair Trade Fresh Foods and Build Marketplace Momentum
SALINAS, Ca.--(BUSINESS WIRE)-- The Board of Directors of Organic Alliance, Inc. (Pink Sheets: ORGC), announced today that President and Chief Operating Officer Parker Booth has been promoted to Chief Executive Officer effective December 1, 2009. Booth, age 54, will continue to serve as president of the company.
Tom Morrison, who previously served as Chairman and Chief Executive Officer, will remain Chairman of the Board and continue to be actively involved in the company. Organic Alliance, Inc., is a provider of best quality, fair trade certified-organic and conventional fresh foods in the global marketplace.
"In his tenure as President and COO, Parker has made very significant contributions to the company's business development and structure," said Morrison. "Parker has established excellent grower relationships, a superb network of expert growers, packers and shippers and has built a strong operating team for our new company." According to Morrison, since joining Organic Alliance, Inc., Booth has been instrumental in delivering growth and profitability by creating new business strategies and a strong foundation for continuing success. "Parker has taken an emerging company from zero revenue to a current running rate of over $1M in monthly sales revenue in just five short months, achieving this milestone despite having to operate in one of the toughest economies since the 1930's," Morrison said. "He has built an exceptional sales and marketing team that consistently meets and exceeds their goals, and we are confident this growth rate will continue into 2010."
In his current position, Booth has not only built the company's international grower alliance but has also advanced the organization's commitment to establishing a stable, year-round supply of organic and fair trade fresh foods. "Parker has opened up a vibrant European Division that we believe offers Organic Alliance significant growth opportunities in 2010 while continuing to expand our base business in the U.S. marketplace," said Morrison.
With multiple and expanding growing locations, products and scope of business, Organic Alliance is differentiated not only by how the company grows and markets fresh produce but also by the way it does business -- through close alliances with customers and growers, with connectivity to the earth and through partnerships based on shared interests in meeting demand for the highest quality fresh foods. "The world marketplace is ever-changing, and Organic Alliance is poised to evolve with it," said Booth. "We are agile, forward-looking and well-positioned to capitalize on the trends and economic forces that will shape our business and industry in the future."
About Organic Alliance
Organic Alliance, Inc., brings together a unique alliance of respected growers, packers and shippers from around the world in order to source, market and distribute best-quality certified-organic and conventional food products that are fairly traded and fairly priced. Crops are grown, packed and shipped under Organic Alliance supervision using advanced quality, food safety and sustainable agriculture practices. The company's Approved Origins(TM) Program delivers not only on-demand traceability but transparency in all business-critical practices, including leading-edge processes, continuous improvement and workforce fairness. To find out more about Organic Alliance products, contact the company at 831-240-0295 or visit www.organicallianceinc.com.
Source: Organic Alliance, Inc.
ARLINGTON, Texas, Nov. 11 /PRNewswire/ -- Retail electric provider Texas Power has recently made its first donation to Wounded Warrior Project, a nonprofit organization whose mission is to honor and empower wounded warriors. Upon introducing its discounted electric rate plan dubbed "The Patriot Plan", Texas Power agreed to make a donation for every account enrolled under this plan. To date, Texas Power has raised over $4,500 for the cause. Jim Simmons, a former Lieutenant Colonel in the Air Force and current VP of Sales with Texas Power exhibits great pride for the involvement in such a program. Says Simmons, "Texas Power is very proud to represent our customers and employees through contributions to Wounded Warrior Project, celebrating the sacrifice and service of these brave Americans. Our wounded combat veterans embody the concept of service before self. These brave men & women are the very best of what makes our great nation the envy of the world."
(Logo: http://www.newscom.com/cgi-bin/prnh/20080603/LATU075LOGO)
Texas Power introduced their Patriot Plan in May of 2009 to assist active and veteran service people alike. The plan is modeled to fit the needs of military personnel and offers special benefits to the individuals that qualify including discounted electric rates, no deposit required for active personnel and a waived termination fee for individuals receiving orders of relocation. For every enrollment of 6 or 12 months under this plan, Texas Power will make a donation to Wounded Warrior Project.
About Wounded Warrior Project:
The mission of Wounded Warrior Project is to honor and empower wounded warriors. Its purpose is to raise awareness and to enlist the public's aid for the needs of severely injured service members, to help severely injured men and women aid and assist each other, and to provide unique, direct programs and services to meet their needs. To get involved and learn more, visit www.woundedwarriorproject.org.
About Texas Power:
Texas Power is a Texas owned and operated Retail Electric Provider located in the heart of the DFW Metroplex. Texas Power is committed to excellence in service and product, offering both residential and commercial electricity. For more information, visit www.TexasPowerOnline.com or call 1-866-SHINE-ON.
SOURCE Texas Power
LEWISBERRY, PA -- (MARKET WIRE) -- 11/11/09 -- As announced on 1 September 2009, Unilife Medical Solutions Limited (ASX: UNI) (PINKSHEETS: UNIFF) (Unilife Australia) entered into a Merger Implementation Agreement with Unilife Corporation (Unilife USA) to facilitate the proposed redomiciliation of the Unilife group in the United States of America (Proposed Transaction).
The Directors of Unilife Australia are pleased to confirm that the next stage of the process for the redomiciliation has now been completed by way of the lodgement of an Information Memorandum with respect to the Proposed Transaction with the Australian Securities and Investments Commission (ASIC) for review. The Information Memorandum comprises:
-- the explanatory statement in relation to the schemes of arrangement;
-- the Notice of Meeting to consider and approve the share scheme of
arrangement;
-- the Notice of Meeting to consider and approve the option scheme of
arrangement; and
-- the Information Memorandum with respect to the listing of Unilife
USA on the Australian Securities Exchange.
The Information Memorandum is a substantial legal document covering key matters relating to the Unilife group, the Proposed Transaction, the listing of Unilife Corporation on ASX and shareholders and optionholders' entitlement to vote at the Scheme Meetings to be held in January 2010. Following ASIC review and Court approval, the Information Memorandum, a Notice of Meeting for an Extraordinary General Meeting to be held on the same day as the Scheme Meetings and relevant proxy forms will be mailed to all shareholders and optionholders for their consideration.
About Unilife
Unilife Medical Solutions Ltd is an ISO 13485 certified company that designs, develops and supplies innovative safety medical devices. Listed on the Australian Securities Exchange (ASX: UNI) since 2002, Unilife has FDA-registered manufacturing facilities in the US State of Pennsylvania and a proprietary portfolio of clinical and prefilled safety syringes designed for use within healthcare and pharmaceutical markets.
Shareholder / Analyst Enquiries: Australia Jeff Carter Phone: + 61 2 8346 6500 United States Stuart Fine Phone: + 1 908 469 1788
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