PINE BLUFF, Ark., Nov. 11, 2009 (GLOBE NEWSWIRE) -- Simmons First National Corporation (Nasdaq: SFNC) today announced the pricing of an underwritten public offering of 2,650,000 shares of its common stock at a price to the public of $24.50 per share for gross proceeds of approximately $64.925 million. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $61.4 million. The Company has granted the underwriters a 30-day option to purchase up to an additional 397,500 shares of the Company's common stock to cover over-allotments, if any. Stephens Inc. is serving as lead bookrunner and Stifel, Nicolaus & Company, Incorporated is serving as joint bookrunner for the offering. Raymond James & Associates, Inc. is serving as co-manager. The Company expects to close the transaction, subject to customary conditions, on or about November 17, 2009.
The Company has filed a registration statement (including a prospectus) with the SEC for the offering. The offering is being made only by means of a prospectus and related prospectus supplement. Prospective investors should read the prospectus in that registration statement and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. Investors may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, Simmons First or any underwriter participating in the offering will arrange to send investors the prospectus if requested by contacting Stephens Inc., Attn: Syndicate, 111 Center Street, Little Rock, AR 72201, or by faxing (501) 377-2404, calling toll-free (800) 643-9691 or emailing sfarmer@stephens.com, or from Stifel, Nicolaus & Company, Incorporated, ATTN: Prospectus Department, One South Street, 15th Floor, Baltimore, MD 21202, or calling (443) 224-1988.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Simmons First National Corporation
Simmons First National Corporation is a multi-bank financial holding company registered under the Bank Holding Company Act of 1956, as amended. The Company is headquartered in Arkansas and conducts its business operations through eight community banks operating in 88 offices, of which 84 are financial centers, located in 47 communities in Arkansas. The Company's common stock trades on the NASDAQ Global Select Market under the symbol "SFNC."
The Simmons First National Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4819
Forward Looking Statements
This release contains forward-looking statements regarding the Company's plans, expectations, goals and outlook for the future. Statements in this press release that are not historical facts should be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements of this type speak only as of the date of this news release. By nature, forward-looking statements involve inherent risk and uncertainties. Various factors, including, but not limited to, economic conditions, credit quality, interest rates, loan demand and changes in the assumptions used in making the forward-looking statements, could cause actual results to differ materially from those contemplated by the forward-looking statements. Actual results could differ materially from the forward-looking statements discussed in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission, available at the SEC's website, www.sec.gov. All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
CONTACT: Simmons First National Corporation
David W. Garner, Senior Vice President and Investor
Relations Officer
(870) 541-1000
DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/20cd63/iron_iii_phospha) has announced the addition of the "Iron (III) Phosphate Dihydrate (CAS 13463-10-0) Market Research Report 2009" report to their offering.
The study 'Iron (III) Phosphate Dihydrate (CAS 13463-10-0) Market Research Report 2009' presents an overview of the Iron (III) Phosphate Dihydrate market globally and regionally by contemplating and analyzing its parameters.
Basic report includes:
-- General information on Iron (III) Phosphate Dihydrate
-- Applications of Iron (III) Phosphate Dihydrate, its consumers
-- Iron (III) Phosphate Dihydrate manufacturers and suppliers worldwide
-- Iron (III) Phosphate Dihydrate current market prices
The research is based on reliable data and supplies with the latest information on selected aspects of the market.
*Includes general information about products in accordance with table of contents. Customization of report not available.
Key Topics Covered:
1. General Iron (Iii) Phosphate Dihydrate Description, Composition, Information On Ingredients, Hazards Identification, Handling And Storage, Toxicological & Ecological Information, Transport Information
2. Iron (Iii) Phosphate Dihydrate Application Areas, Patents
3. Manufacturers And Traders Of Iron (Iii) Phosphate Dihydrate (Including Contact Details) 3.1. Manufacturers Of Iron (Iii) Phosphate Dihydrate 3.2. Suppliers (Trading Companies) Of Iron (Iii) Phosphate Dihydrate (Including Contact Details)
4. Iron (Iii) Phosphate Dihydrate Current Market Prices
5. Consumers Of Iron (Iii) Phosphate Dihydrate"
For more information visit http://www.researchandmarkets.com/research/20cd63/iron_iii_phospha
Source: Research and Markets Ltd.
THOMASVILLE, Ga., Nov. 11 /PRNewswire-FirstCall/ -- Flowers Foods (NYSE: FLO) today reported results for the 12 and 40 weeks ended October 10, 2009. The company also updated its guidance for 2009 and provided preliminary guidance for 2010.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080530/CLF007LOGO )
Highlights:
-- Increased third quarter sales 4.6% year-over-year
-- Improved operating margin to 8.5% of sales, a 20.5% year-over-year
increase
-- Delivered diluted earnings per share of $.34 for the quarter, a 17.2%
increase year-over-year
-- Generated net cash from operating activities of $49.9 million
-- Increased year-over-year branded retail sales by 3.9%
-- Anticipates sales growth of 7.5% to 8.0% and an increase of 7.0% to 9.4%
in diluted earnings per share for the 52-week fiscal 2009 (excluding the
gain on acquisition)
-- Provided preliminary 2010 guidance for 2.5% to 4.5% sales growth and
diluted earnings per share growth of 10% to 15%
George E. Deese, Flowers Foods' Chairman, CEO, and President said, "I am pleased with the sales, operating margins, and earnings results we delivered in the face of continued pressures from the overall economy, the competitive landscape, and higher promotional activity in the bakery category. Our sales results were mixed as our direct-store-delivery (DSD) business took action to protect our market share through promotions while our warehouse business achieved higher snack cake sales, improved pricing/mix, and benefited from acquisitions.
"Going forward, our team remains focused on managing and investing in our businesses to ensure our ability to deliver strong results over the long term while taking the necessary actions to maintain our competitive market position in the near term," Deese said.
Third Quarter Results
For the third quarter, sales increased 4.6% to $602.6 million over the $575.9 million reported for last year's third quarter. Net income attributable to Flowers Foods was $31.9 million, or $.34 per diluted share, an increase of 16.5% over the $27.4 million, or $.29 per diluted share, reported for the 2008 third quarter. The quarter's sales increase of 4.6% was achieved through a favorable pricing/mix of 1.4% and contributions from acquisitions of 4.2%, partially offset by 1.0% volume declines. Overall, the volume declines occurred primarily in the non-retail channel, specifically in the foodservice, vending, and institutional categories. In addition, heavy promotional activity within the retail channel negatively affected volumes in the branded white bread category. Partially offsetting these declines were increases in the branded breakfast bread, the branded multi-pack cake, and the branded soft variety bread categories. During the quarter, the company's DSD sales grew at 1.6% due to a favorable pricing/mix of 1.8%, contribution from acquisitions of 3.5%, and a volume decline of 3.7%. Sales through warehouse delivery increased 20.0% reflecting positive pricing/mix of 5.6%, volume increases of 6.5%, and a contribution of 7.9% from the acquisition of a bakery mix plant during the second quarter of this year.
For the quarter, gross margin as a percent of sales was 46.5% compared to 48.1% in the third quarter of 2008. This decrease was due to increased ingredient costs as a percent of sales, partially offset by decreases in packaging and utility costs as a percent of sales, and improved manufacturing efficiencies.
Selling, marketing, and administrative costs as a percent of sales for the quarter were 34.9% compared to 37.7% in the prior year. This improvement as a percent of sales was due primarily to lower employee-related costs as a percent of sales and continuing efforts to reduce costs company-wide.
Depreciation and amortization expenses for the third quarter remained relatively stable as a percent of sales compared to the prior year despite increases in both depreciation and amortization resulting from acquisitions. Net interest income for the quarter decreased as a result of increased interest expense due to acquisition-related debt incurred in connection with acquisitions made in the second half of last year. The effective tax rate for the quarter was 35.5% as compared to 35.8% last year.
Operating margin for the third quarter was $51.1 million, or 8.5% of sales, an increase of 20.5% over the operating margin for the third quarter of 2008. EBITDA for the quarter was $70.1 million, or 11.6% of sales, an increase of 17.4% over last year's third quarter.
During the third quarter, the company invested $19.1 million in capital improvements and paid dividends of $16.1 million to shareholders. This was the 28(th) consecutive quarterly dividend paid by Flowers Foods. During the third quarter, no shares were purchased under the share repurchase plan. During the first two quarters of 2009, the company repurchased a total of 1,230,391 shares at a cost of $27.6 million, an average of $22.45 per share. Since the inception of the share repurchase plan in 2002, the company has acquired 22.1 million shares of its common stock for $352.1 million, an average of $15.94 per share. The plan authorizes the company to repurchase up to 30.0 million shares of common stock.
Year-to-Date Results
Sales for the 40 weeks of 2009 increased 12.9% to $2.02 billion over the $1.79 billion reported for the 40 weeks of 2008. Net income attributable to Flowers Foods was $99.6 million, or $1.07 per diluted share, an increase of 14.3% over the $87.1 million, or $.94 per diluted share, reported for the 2008 40-week period. The sales increase of 12.9% was achieved through a favorable pricing/mix of 4.3% and a contribution of 9.1% from acquisitions, which were partially offset by a volume decrease of .5%. Overall, the volume declines occurred primarily in the non-retail channel, specifically in the foodservice, vending, institutional, and contract manufacturing categories. In the retail channel, the branded white bread category also experienced volume declines. Partially offsetting these declines were increases in the branded breakfast bread, the branded multi-pack cake, and the branded soft variety bread categories. Year-to-date, the company's DSD sales grew at 12.8% due to a favorable pricing/mix of 3.3%, a contribution from acquisitions of 10.2%, and a volume decline of .7%. Sales through warehouse delivery increased 13.2%, reflecting positive pricing/mix of 9.9%, volume declines of .3%, and a 3.6% contribution from the bakery mix business acquired in the second quarter.
Gross margin for the 40-week period was 46.4% of sales compared to 47.5% for the 40-week period of 2008. This decrease was the result of higher ingredient costs as a percent of sales, partially offset by lower labor and packaging costs as a percent of sales and improved manufacturing efficiencies.
For the 40 weeks, selling, marketing, and administrative costs as a percent of sales were 35.6% compared to 37.2% last year. This improvement was due primarily to lower employee-related costs as a percent of sales and the continuing effort to reduce costs throughout the company. This decrease was achieved despite a significant increase in pension expense this year as compared to last year.
Depreciation and amortization expenses for the 40 weeks remained relatively stable as a percent of sales compared to the prior year despite increases in both depreciation and amortization resulting from acquisitions. Net interest income year-to-date decreased as a result of increased interest expense due to debt incurred in connection with the acquisitions made in the second half of last year. The effective tax rate for the year-to-date was 36.2% compared to 35.7% last year. This increase was the result of higher state tax benefits recorded last year and lower earnings of the company's variable interest entity this year as compared to last year. The full-year tax rate is expected to be approximately 36.5%.
Year to date, operating margin was $159.2 million, or 7.9% of sales, an increase of 19.8% compared to last year's 40-week period. EBITDA for the 40 weeks was $221.2 million, or 10.9% of sales, an increase of 18.1% over EBITDA for the 40-week period of 2008.
Guidance for Fiscal 2009 and Preliminary Guidance for Fiscal 2010
The company's fiscal 2009 will be a 52-week year compared to 53 weeks in fiscal 2008. Deese said the company now expects sales growth of 7.5% to 8.0%, with acquisitions accounting for 6.8% to 7.2% of the increase. (The 53(rd) week of fiscal 2008 accounted for approximately 2.0% of sales for fiscal 2008, therefore, on a 52-week to 52-week comparison the 2009 sales growth would be 9.5% to 10.0%.) Sales for fiscal 2009 are expected to be $2.595 billion to $2.607 billion. For 2009, excluding the gain on acquisition recorded in the second quarter, net income is expected to be 4.9% to 5.0% of sales, or $127.1 million to $129.9 million. With approximately 92.8 million average shares outstanding, earnings per diluted share excluding the gain on acquisition of $.02 are expected to be $1.37 to $1.40, an increase of 7.0% to 9.4% over fiscal 2008. (The 53(rd) week of fiscal 2008 accounted for $.02 of diluted earnings per share, therefore, on a 52-week to 52-week comparison the 2009 earnings per share growth would be 8.7% to 11.1%.)
Capital spending in fiscal 2009 is expected to be approximately $70.0 million, including the company's new bakery in Kentucky as well as costs for capital maintenance and efficiency improvements in the company's other bakeries.
For fiscal 2010, the company preliminarily expects sales growth of 2.5% to 4.5%, excluding future acquisitions, and diluted earnings per share growth of 10% to 15%. Capital expenditures for fiscal 2010 are expected to be $85 million to $95 million.
The board of directors will consider the dividend at its regularly scheduled meeting. Any action taken will be announced following that meeting.
Conference Call
Flowers Foods will broadcast its third quarter conference call over the Internet at 8:30 a.m. (Eastern) November 11, 2009. The call will be broadcast live on Flowers' Web site, www.flowersfoods.com, and can be accessed by clicking on the web cast link on the home page. The call also will be archived on the company's Web site.
Company Information
Headquartered in Thomasville, Ga., Flowers Foods is one of the nation's leading producers and marketers of packaged bakery foods for retail and foodservice customers. Among the company's top brands are Nature's Own, Whitewheat, Cobblestone Mill, Blue Bird, and Mrs. Freshley's. Flowers operates 40 bakeries that are among the most efficient in the baking industry. Flowers Foods produces, markets, and distributes fresh bakery products that are delivered to customers daily through a direct-store-delivery system serving the Southeast, Mid-Atlantic, and Southwest as well as select markets in California and Nevada. The company also produces and distributes fresh snack cakes and frozen breads and rolls nationally through warehouse distribution. For more information, visit www.flowersfoods.com
Statements contained in this press release that are not historical facts are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Other factors that may cause actual results to differ from the forward-looking statements contained in this release and that may affect the company's prospects in general include, but are not limited to, (a) competitive conditions in the baked foods industry, including promotional and price competition, (b) changes in consumer demand for our products, (c) the success of productivity improvements and new product introductions, (d) a significant reduction in business with any of our major customers including a reduction from adverse developments in any of our customer's business, (e) fluctuations in commodity pricing, (f) our ability to fully integrate recent acquisitions into our business, and (g) our ability to achieve cash flow from capital expenditures and acquisitions and the availability of new acquisitions that build shareholder value. In addition, our results may also be affected by general factors such as economic and business conditions (including the baked foods markets), interest and inflation rates and such other factors as are described in the company's filings with the Securities and Exchange Commission.
Flowers Foods
Consolidated Statement of Income
--------------------------------------------------------------------------
(000's omitted, except per share data)
For the For the For the For the
12 Week 12 Week 40 Week 40 Week
Period Period Period Period
Ended Ended Ended Ended
-------- -------- -------- --------
10/10/09 10/04/08 10/10/09 10/04/08
-------- -------- -------- --------
Sales $602,570 $575,937 $2,024,025 $1,793,300
Materials, supplies,
labor and other
production costs 322,245 298,792 1,085,046 942,356
Selling, marketing and
administrative expenses 210,185 217,382 720,809 666,719
Depreciation and
amortization 19,064 17,373 61,997 54,318
Gain on acquisition 0 0 3,013 0
Gain on sale 0 0 0 2,306
Gain on insurance
recovery 0 0 0 686
-------- -------- -------- --------
Income before interest
and income taxes (EBIT) 51,076 42,390 159,186 132,899
Interest income, net 98 1,011 737 7,165
-------- -------- -------- --------
Income before income
taxes (EBT) 51,174 43,401 159,923 140,064
Income tax expense 18,150 15,519 57,969 50,012
-------- -------- -------- --------
Net income 33,024 27,882 101,954 90,052
Less: Net income
attributable to
noncontrolling
interest (1,098) (467) (2,306) (2,905)
-------- -------- -------- --------
Net income attributable
to Flowers Foods, Inc. $31,926 $27,415 $99,648 $87,147
======== ======== ======== ========
Per share amounts:
Net income attributable
to Flowers Foods, Inc. $0.34 $0.29 $1.07 $0.94
======== ======== ======== ========
Diluted weighted
average shares
outstanding 92,597 93,498 92,827 92,850
======== ======== ======== ========
Flowers Foods
Segment Reporting
--------------------------------------------------------------------------
(000's omitted)
For the For the For the For the
12 Week 12 Week 40 Week 40 Week
Period Period Period Period
Ended Ended Ended Ended
-------- -------- -------- --------
10/10/09 10/04/08 10/10/09 10/04/08
-------- -------- -------- --------
Sales:
Direct-Store-Delivery $488,344 $480,783 $1,664,094 $1,475,466
Warehouse Delivery 114,226 95,154 359,931 317,834
-------- -------- -------- --------
$602,570 $575,937 $2,024,025 $1,793,300
======== ======== ========== ==========
EBITDA:
Direct-Store-Delivery $61,978 $59,678 $199,090 $177,568
Warehouse Delivery 16,596 8,168 51,235 31,266
Flowers Foods (8,434) (8,083) (29,142) (21,617)
-------- -------- -------- --------
$70,140 $59,763 $221,183 $187,217
======== ======== ======== ========
Depreciation and Amortization:
Direct-Store-Delivery $15,189 $13,851 $49,678 $41,962
Warehouse Delivery 3,738 3,622 12,045 12,000
Flowers Foods 137 (100) 274 356
-------- -------- -------- --------
$19,064 $17,373 $61,997 $54,318
======== ======== ======== ========
EBIT:
Direct-Store-Delivery $46,789 $45,827 $149,412 $135,606
Warehouse Delivery 12,858 4,546 39,190 19,266
Flowers Foods (8,571) (7,983) (29,416) (21,973)
-------- -------- -------- --------
$51,076 $42,390 $159,186 $132,899
======== ======== ======== ========
Flowers Foods
Condensed Consolidated Balance Sheet
--------------------------------------------------------------------------
(000's omitted)
10/10/09
--------
Assets
-----------------------------------------------------------
Cash and Cash Equivalents $16,094
Other Current Assets 337,239
Property, Plant & Equipment, net 580,294
Distributor Notes Receivable (includes $12,480 current
portion) 105,825
Other Assets 11,649
Cost in Excess of Net Tangible Assets, net 303,552
----------
Total Assets $1,354,653
==========
Liabilities and Stockholders' Equity
-----------------------------------------------------------
Current Liabilities $234,727
Bank Debt (includes $15,000 current portion) 219,600
Other Debt and Capital Leases (includes $3,506 current
portion) 27,338
Other Liabilities 176,098
Stockholders' Equity 696,890
----------
Total Liabilities and Stockholders' Equity $1,354,653
==========
Flowers Foods
Condensed Consolidated Statement of Cash Flows
--------------------------------------------------------------------------
(000's omitted)
For the For the
12 Week 40 Week
Period Ended Period Ended
------------ ------------
10/10/09 10/10/09
-------- --------
Cash flows from operating activities:
Net income $33,024 $101,954
Adjustments to reconcile net income to net cash
from operating activities:
Total non-cash adjustments 34,821 116,645
Changes in assets and liabilities (17,973) (52,368)
-------- --------
Net cash provided by operating activities 49,872 166,231
-------- --------
Cash flows from investing activities:
Purchase of property, plant and equipment (19,093) (47,276)
Acquisitions, net of cash acquired 0 (8,842)
Other 4,285 3,764
-------- --------
Net cash disbursed for investing activities (14,808) (52,354)
-------- --------
Cash flows from financing activities:
Dividends paid (16,101) (46,157)
Stock options exercised 736 2,560
Income tax benefit related to stock awards 0 1,386
Stock repurchases 0 (27,625)
Decrease in book overdraft (4,196) (7,904)
Proceeds from debt borrowings 194,600 650,600
Debt and capital lease obligation payments (213,875) (689,937)
Other (234) (670)
-------- --------
Net cash disbursed for financing activities (39,070) (117,747)
-------- --------
Net decrease in cash and cash equivalents (4,006) (3,870)
Cash and cash equivalents at beginning of
period 20,100 19,964
-------- --------
Cash and cash equivalents at end of period $16,094 $16,094
======== ========
Flowers Foods
Reconciliation of Net Income to EBITDA
--------------------------------------------------------------------------
(000's omitted)
For the For the
12 Week 40 Week
Period Ended Period Ended
------------ ------------
October 10, October 10,
2009 2009
------------ ------------
Net income attributable to Flowers Foods, Inc. $31,926 $99,648
Net income attributable to
noncontrolling interest 1,098 2,306
Income tax expense 18,150 57,969
Interest income, net (98) (737)
Depreciation and amortization 19,064 61,997
------------ ------------
EBITDA $70,140 $221,183
============ ============
SOURCE Flowers Foods
Combined Business to Create Next-Generation Revenue Cycle Solutions, Improving Administration and Cash Flows for Hospitals and Health Systems
MINNEAPOLIS--(BUSINESS WIRE)-- TripleTree is pleased to announce that its client, CareMedic, an industry leader in revenue cycle management (RCM) solutions, will be acquired by Ingenix, a leading health information, technology and consulting company, in a cash transaction.
TripleTree acted as the exclusive financial advisor to CareMedic.
With the acquisition of CareMedic, Ingenix will offer solutions that address each major component of the hospital revenue cycle: patient registration, eligibility verification, financial clearance, coding and compliance, bill submission, denials management, and remittance processing. Ingenix and CareMedic's combined products and services will create a comprehensive suite of solutions for hospitals to manage the revenue cycle and improve financial performance - from the time a patient begins the registration process with a health care provider to the time payment for that care is received. This will be the industry's only enterprise-wide solution that identifies inefficiencies as they occur, so clients can take practical actions to receive appropriate reimbursements and reduce costs throughout the process.
CareMedic provides hospitals with an enterprise platform of enabling technologies and services that optimize revenue cycle efficiency and improve cash flow, margins and productivity. The Company's products and services include the Electronic Financial Record (eFR(R)) platform, which makes nearly real-time patient financial information accessible across departments within a hospital, helping clients take the right actions at every step of the revenue cycle to receive payments faster and more efficiently. With the eFR platform, CareMedic provides the industry's most complete, historical view of a patient's consolidated financial record with a provider organization. CareMedic's capabilities will complement Ingenix's coding and compliance expertise and automated credit balance resolution provided by its INTELLIJET(R) platform.
Sheila Schweitzer, CEO of CareMedic, said, "With Ingenix's expertise in reimbursement, health information management and consulting, and our expertise in enterprise-wide RCM, we will create a unified solution that makes hospitals more efficient at managing cash flow and enhances our commitment to helping clients get paid. As part of Ingenix, we will be able to provide clients with additional services and continued innovations that help them use capital more effectively and improve operational efficiency."
Andy Slavitt, CEO of Ingenix, said, "Innovation and talent are key to solving health care's biggest challenges. We're combining the great teams at CareMedic and Ingenix to deliver innovation with the common vision of simplifying the system, reducing waste and centering health care around the patient."
"Caremedic is the only company in the industry with a true-end-to-end RCM data and process integration capability that leverages a patient-centric data model. In combination with the coding, content, and transformational services of Ingenix, the combined company will be a significant competitor in the provider RCM sector," said Scott Tudor, TripleTree Managing Partner.
The CareMedic transaction has been announced on the heels of TripleTree's representation of Anodyne Health Partners in its sale to athenahealth. TripleTree has now closed over $1.5 billion in RCM, HIT, and HC BPO transactions over the last four years.
About TripleTree, LLC
TripleTree, LLC is an independent investment banking firm focused on mergers and acquisitions, financial restructuring, principal investing, and strategic advisory services for healthcare and technology companies. The firm specializes in growth businesses, vertical industry specialization, and disruptive technology delivery models. For more information, go to www.triple-tree.com
Source: TripleTree
TUCSON, AZ -- (MARKET WIRE) -- 11/11/09 -- Anything Brands Online, Inc. (PINKSHEETS: ANYT) announced today that its Board of Directors has authorized a plan to spin-off its Anything Green business from Anything Brands Online, Inc. in a transaction that will result in two independent and highly focused public companies.
The separation will enable the company to improve its business focus and competitive edge in their respective business segments. Anything Green Online has developed at a rapid pace and the move will provide the organizational structure designed to achieve the marketing objectives as clearly defined by recent public announcements, stated, Tim Norton Executive in charge of Anything Brands Operations.
Each company will operate with additional management teams and details regarding management structure and share distribution to existing shareholders will be disclosed by the Board of Directors by November 30, 2009.
About Anything Brands Online, Inc.
Anything Brands (http://www.anythingbrandsonline.com) markets and sells products and services that improve the level of transportation efficiency and safety of its commercial and recreational customers. Their Tradesman Tool division (http://www.tradesmantool.com) serves automotive, construction, industrial tools, and auto body supplies. The myFreightWorld division is a business outsourcing company that sells technology, services, and wholesale truck, rail, and airfreight capacity to the logistics manager industry that accounts for over $200 billion of the $650 billion transportation industry spend. Technology services and products are offered via the web or are accessible through web service applications and are provided primarily through private label arrangements. See: http://www.3plinabox.net
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Anything Brands Online, Inc. and its business. Forward-looking statements speak only as of the date on which they are made and Anything Brands Online, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
For more information contact: Investor Relations Anything Brands Online www.anythingbrandsonline.com 520-742-1890 TEN Associates LLC Fountain Hills, Arizona (480) 326-8577
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Sandicor, San Diego MLS, Looks Beyond State Boundaries, Expands Its Property Resource to National Level
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Media Advisory/REMINDER: Government of Canada
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The Glenn Mohr Chorale Round Up New Fans to Celebrate Their 20th Anniversary and the Release of Their Holiday CD "A Star Still Shines"
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Skyscanner Hotel and Rental Car Comparison Rolls Out Worldwide
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Harmony Publications, LLC Announces 'Color My World' Book Launch
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U.S. Army Special Forces Operators Reluctant to Seek Treatment for Posttraumatic Stress Disorder
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Cutting-Edge Science Unites with Ancient Natural Herb to Provide a Healthy Alternative for 127 Million Americans
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Clear Channel Satellite Adds Oklahoma News Network (ONN) to the X-Digital System
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CoffeeCakes.com -- The Natural Choice
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Sol-Gel's IND Application for Rosacea Accepted by FDA
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Media Advisory/REMINDER: Government of Canada
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$69,000 in College Scholarships Available to Local High School Seniors
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Panasas to Showcase Suite of New Products and Technologies at SC 09
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The NPD Group Names Mark Turim President for Asia Pacific Region
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Capacent Glacier Releases Report on Foreign Investment In Iceland
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Eventful and Ryan Seacrest Productions Form Marketing and Technology Alliance
