RICHMOND, Va.--(BUSINESS WIRE)-- Owens & Minor (NYSE: OMI), a leading distributor of national name-brand medical and surgical supplies and a healthcare supply-chain management company, announced today, that its Corporate Vice President & Controller, Olwen B. Cape, 59, intends to retire from the Company in April 2010. Cape has served the company as chief accounting officer since 1997, after working more than 20 years in public accounting and corporate finance. Owens & Minor simultaneously announced the appointment of D. Andrew Edwards, 50, as Corporate Vice President, Finance of Owens & Minor, effective December 14, 2009. Upon Cape's retirement, Edwards is expected to assume the title of Corporate Vice President, Controller & Chief Accounting Officer of Owens & Minor. He will report to Corporate Senior Vice President & Chief Financial Officer James L. Bierman.
"Olwen leaves behind a legacy of excellence and strong accounting leadership," said Craig R. Smith, President & Chief Executive Officer of Owens & Minor. "Her accounting knowledge and expertise added real depth to our team over the last 13 years, and we are very thankful for her many contributions. In turn, we welcome Drew to Owens & Minor and are pleased that we will be able to effect an orderly transition for our accounting team."
Since 2003, Edwards served as the Chief Financial Officer of Tredegar Corporation, where he was both the principal financial and accounting officer. After joining Tredegar in 1992, he served in a variety of accounting, treasury and finance positions. Prior to joining Tredegar, he served in public accounting for nearly 10 years. Tredegar Corporation, located in Richmond, Virginia, is a global manufacturer of plastic films and aluminum extrusions.
Owens & Minor, Inc., (NYSE: OMI) a Fortune 500 company headquartered in Richmond, Virginia, is a leading distributor of national name-brand medical and surgical supplies and a healthcare supply-chain management company. Owens & Minor is also a member of the Russell 2000(R) Index, which measures the performance of the small-cap segment of the U.S. equity universe, as well as the S&P MidCap 400, which includes companies with a market capitalization of $750 million to $3.3 billion that meet certain financial standards. With a diverse product and service offering and distribution centers throughout the United States, the company serves hospitals, integrated healthcare systems, alternate care locations, group purchasing organizations, and the federal government. Owens & Minor provides technology and consulting programs that improve inventory management and streamline logistics across the entire medical supply chain--from origin of product to patient bedside. For news releases, or for more information about Owens & Minor, visit the company Web site at www.owens-minor.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6113554&lang=en
Source: Owens & Minor Inc.
VANCOUVER, Dec. 3 /PRNewswire-FirstCall/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX-NGD) announces an update on its activities to resume mining operations at its Cerro San Pedro Mine. Today, Minera San Xavier ("MSX"), New Gold's wholly owned Mexican subsidiary that holds the mining concessions of the Cerro San Pedro Mine, filed a second appeal related to the suspension of operations.
The first appeal was filed on November 5, 2009 with the Third Federal District Court in Mexico City. That appeal seeks to overturn the Federal Fiscal Administration Court's ruling that ordered SEMARNAT, the Mexican government's environmental protection agency, to cancel the project's Environmental Impact Statement ("EIS"). The court is waiting for SEMARNAT, an associated party, to file its response to this appeal before finalizing the date to commence a trial.
In addition, MSX today filed a separate appeal with the District Court in San Luis Potosi. The objective of the appeal is to overturn the order that required suspension of mining operations as a result of the cancellation of the project's EIS. Based on the advice of its Mexican legal advisers, New Gold believes that claims that the EIS is required to be in place to operate its Cerro San Pedro Mine have no legal basis.
This most recent appeal includes a request for a temporary injunction which would allow the mine to continue operating while the appeal goes to trial and the court hears the arguments in relation to the suspension order. It is expected that a decision on the injunction request will be provided within 10 days. In the event an injunction is not granted, mining operations would remain suspended and the appeal would go to trial where all merits of the case would be heard and a decision made. If the matter is heard in court and the mine suspension is prolonged, New Gold will continue to take all measures necessary to actively safeguard the integrity of the mine, its environment, its employees and residents of the surrounding communities.
The company is working cooperatively with Mexican environmental agencies with a view to permanently addressing the issues surrounding the EIS at the Cerro San Pedro Mine. To this end, MSX has filed with SEMARNAT a request for authorization of a new EIS. The request was accepted by SEMARNAT and evaluation has commenced.
"In addition to using all of the legal channels available to resume mining operations in the shortest time possible, we are in active dialogue with all levels of the government and administrative bodies associated with the project," says Robert Gallagher, New Gold President and CEO. "We believe that the legal processes initiated by the company and the opportunity to constructively work with all parties involved will provide the information necessary to resume operations."
MSX continues to employ 509 employees and contractors at the Cerro San Pedro Mine, over 60 per cent of whom are from local villages surrounding the mine. MSX has an enviable record of compliance with Mexican and international environmental standards. The company has strived to improve the quality of life of its employees and that of the surrounding communities through various initiatives including: enhancement of education, provision of free medical services and development of improved local infrastructure. The company enjoys a high degree of acceptance by the greater majority of the residents of area surrounding the mine due to its outstanding record of caring for the environment and its positive work in the communities.
New Gold will continue to provide updates on this matter.
About New Gold
New Gold is an intermediate gold mining company with the Mesquite Mine in the United States, Cerro San Pedro Mine in Mexico and Peak Mines in Australia. The company is expected to produce between 270,000 and 300,000 ounces of gold in 2009, growing to over 400,000 ounces in 2012 from assets currently owned by the company. New Gold has a strong portfolio of mining, development and exploration assets in mining friendly jurisdictions. For further information on the company, please visit www.newgold.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release, including any information relating to New Gold's future financial or operating performance may be deemed "forward looking". All statements in this press release, other than statements of historical fact, that address events or developments that New Gold expects to occur, are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward looking statements are subject to important risk factors and uncertainties, many of which are beyond New Gold's ability to control or predict. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause New Gold's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: significant capital requirements; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States, Australia, Brazil, Mexico and Chile; price volatility in the spot and forward markets for commodities; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation in Canada, the United States, Australia, Brazil, Mexico and Chile or any other country in which New Gold currently or may in the future carry on business; taxation; controls, regulations and political or economic developments in the countries in which New Gold does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining and maintaining the validity and enforceability of the necessary licenses and permits and complying with the permitting requirements of each jurisdiction that New Gold operates, including, but not limited to, Mexico, where New Gold is involved with ongoing challenges relating to its environmental impact statement for Cerro San Pedro Mine; the lack of certainty with respect to the Mexican and other foreign legal systems, which may not be immune from the influence of political pressure, corruption or other factors that are inconsistent with the rule of law; diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as "Risks Factors" included in New Gold's Annual Information Form filed on March 31, 2009 and Management Information Circular filed on April 15, 2009, both available at www.sedar.com. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All of the forward-looking statements contained in this press release are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
SOURCE New Gold Inc.
SOUTHBRIDGE, Mass., Dec. 3 /PRNewswire/ -- The Cancer Center at Harrington has received approval to treat its first patients, Harrington Hospital announced today.
"We expect to start seeing patients immediately," said Diane Becquart, Director of The Cancer Center at Harrington.
The approval was granted today by the Massachusetts Department of Public Health following a safety and quality review of the facility.
The opening of The Cancer Center at Harrington means that patients in the region will be able to receive comprehensive, state-of-the-art cancer treatment close to home, said Harrington Hospital CEO Ed Moore.
"With the opening of The Cancer Center at Harrington, our dream of providing advanced cancer treatment, including both radiation therapy and chemotherapy under one roof, has become a reality," Moore said. "We had our groundbreaking only a little over a year ago, and now cancer patients in our region have an alternative to driving long distances to receive first-rate care."
A Community Open House will be held at The Cancer Center at Harrington and Radiation Therapy Services, 55 Sayles Street, Southbridge, on Wednesday, December 9, from 2 p.m. to 6 p.m. Physicians, nurses and staff will be on hand to welcome the community and explain the center's services. Light refreshments will be served.
The Cancer Center at Harrington, operated by Harrington Hospital, provides infusion services (chemotherapy) and is staffed by oncology physicians and oncology nurses. To optimize patient safety, The Cancer Center at Harrington has its own pharmacy suite. The American Cancer Society Resource Room, which is sponsored by the American Cancer Society, provides a comfortable library-like setting where patients and their families can access literature and use a computer to learn more about cancer treatment. The room is staffed by volunteers who can assist in the research.
"Patients and their families will be able to avail themselves of social work services and counseling to deal with the psycho-social aspects of cancer," Becquart said. "In addition to physicians and oncology nurses, we will have a social worker on site. Our goal is not only to treat cancer but to repair hope.
"We are realizing our vision of a cancer treatment program that focuses on the community," Becquart said. "We are developing a lecture series, and we will have a boutique where local residents as well as our patients undergoing chemotherapy will be able to purchase scarves and wigs.
"Our center will soon add breast reconstruction services, pain management services, urology services, reiki and other complementary therapies," Becquart said.
"Harrington has built a state-of-the-art facility with the patient's privacy and comfort in mind," she said. The facility features private and semi-private spaces for infusion services, private examination rooms, and personal touches such as a soothing waterfall display in the main waiting area. The waiting room is also a wireless hot spot, allowing those with WiFi capability on their laptop computer to access the Internet and e-mail.
To make an appointment or learn more about The Cancer Center at Harrington, please call 508-764-2400.
The Cancer Center at Harrington is Harrington Hospital's portion of a two-story facility on the Harrington campus that is called The Central Massachusetts Cancer Center. The Cancer Center at Harrington is on the second floor and Harrington's joint-venture partner, Radiation Therapy Services, Inc., is located on the first floor of the 21,000 square-foot, two-story $14 million facility, situated at the edge of the Harrington Hospital campus in Southbridge.
Radiation Therapy Services, Inc. began offering advanced radiation services at the facility in June 2009. The company employs a CT scanner to determine the exact size of the area to be treated and a state-of-the-art linear accelerator, known as a LinAc, to deliver the radiation. Radiation Therapy Services radiation oncology treatments include Intensity Modulated Radiation Therapy (IMRT) and Image-Guided Radiation Therapy (IGRT), which focuses the radiation treatment on the tumor and spares the normal tissue.
"The opening of The Cancer Center at Harrington means we will be able to better serve our patients," said Shakeeb Yunus, an oncology physician who has treated cancer patients at Harrington Hospital for more than three years. "If a patient needs chemotherapy and radiation or other oncology services, with some exceptions, he or she will be able to receive treatment at one attractive suburban location without having to shuffle from one hospital to another, and without having to fight city traffic or look for parking."
HARRINGTON HOSPITAL is a comprehensive regional healthcare provider serving the needs of Southern Worcester County and Northern Connecticut through:
-- our 114-bed acute-care hospital in Southbridge that provides medical and
surgical inpatient care, 24-hour emergency services, psychiatric care,
pediatrics and obstetrical care, intensive/coronary care and
comprehensive outpatient services,
-- satellite medical facilities across South Central Massachusetts, housing
primary care and specialty doctors, diagnostic imaging, pulmonary and
sleep clinic, cardiopulmonary, laboratory services and specialties such
as physical therapy and wound care,
-- a free-standing cancer treatment center in Southbridge that allows
patients to receive advanced, local oncological care, including
Intensity Modulated Radiation Therapy and Image-Guided Radiation
Therapy, chemotherapy, counseling, pain management and reconstructive
surgery.
SOURCE Harrington Hospital
** CREDENTIALED PRESS ONLY **
WHAT:
A media briefing following FDA's public meeting with manufacturers of certain opioid drug products discussing their proposed strategy for preventing the misuse, abuse and accidental overdose of these drugs.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090824/FDALOGO )
WHO:
-- John Jenkins, M.D., director, Office of New Drugs, Center for Drug Evaluation and Research (CDER), FDA
-- Douglas Throckmorton, M.D., deputy director for regulatory programs, CDER
-- Jane Axelrad, J.D., associate director for policy, CDER, FDA
WHEN:
Fri., Dec. 4, 2009, at 1:15 p.m. EST or 15 minutes after the conclusion of the meeting
WHERE:
The Maryland Room
Holiday Inn Washington-College Park
10000 Baltimore Ave., College Park, Md.
HOW:
Reporters who cannot attend the media briefing may participate by calling 888-566-6347. International callers dial 1-415-228-3903. The passcode is "FDA Media."
A replay of the briefing will be available one hour after the event ends until Dec. 11, 2009. To hear the replay, dial 800-925-5415; international callers dial 1-402-530-8074.
BACKGROUND:
In February, the FDA informed sponsors of certain opioids that their drugs will be required to have a class-wide Risk Evaluation and Mitigation Strategy (REMS) to ensure that the benefits of the drugs continue to outweigh the risks. The affected opioid drugs included long-acting and extended-release brand name and generic products and are formulated with the active ingredients fentanyl, hydromorphone, methadone, morphine, oxycodone, and oxymorphone. Sponsors were encouraged to work collectively on a REMS. The Dec. 4 public meeting is intended to determine the status of REMS development by these manufacturers. A live Webcast of the event will be viewable at http://ConnectLive.com/events/fda120409.
For more information
Public Meeting Agenda
http://www.fda.gov/downloads/Drugs/DrugSafety/InformationbyDrugClass/UCM192569.pdf
Federal Register notice of the meeting
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=2009_register&docid=fr18no09-75.pdf
Background on Opioids REMS
http://www.fda.gov/Drugs/DrugSafety/InformationbyDrugClass/ucm187975.htm
CONTACT: Karen Riley of U.S. Food and Drug Administration, +1-301-796-4674, karen.riley@fda.hhs.gov
/PRNewswire-USNewswire -- Dec. 3/
SOURCE U.S. Food and Drug Administration
Reports Revenue of $20.5 Million, Earnings Per Share of $.04 and Increases Guidance to an Estimated $.27 to $.32 Per Share for Fiscal 2010
NORCROSS, Ga.--(BUSINESS WIRE)-- EasyLink Services International Corporation ("EasyLink" or the "Company") (NASDAQ: ESIC), a global provider of business-to-business messaging services reported fiscal first quarter 2010 revenue of approximately $20.5 million, operating income of approximately $2.1 million, net income of approximately $1.4 million or $.04 per share, and adjusted earnings before income taxes, depreciation and amortization ("EBITDA") of approximately $4.7 million.
"Our first quarter results clearly demonstrate the impact of our financial improvement over the last year," said Tom Stallings, CEO of EasyLink. "The refinancing of our debt has eliminated the complexity of our financial reporting and our financial results now show the strength of our underlying business operations. We have also seen marginal improvements in the general economy and continue to enjoy the impact of our prior cost cutting initiatives."
Financial Review
"The impact of the global economic slowdown did not affect our business materially until the second quarter of fiscal 2009 making first quarter-to-quarter comparisons challenging," said Glen Shipley, CFO of EasyLink. "However, the refinancing of our debt in the last quarter of fiscal 2009 eliminated much of the unpredictability in the reporting of our financial results going forward. Gone are the volatile non-cash costs of our convertible debt and its associated beneficial conversion feature. We look forward to again emphasizing earnings per share as a measure of our Company's success."
Revenue for the first quarter of fiscal 2010 was $20.5 million compared to $22.8 million in the first quarter of fiscal 2009. On Demand Messaging revenue in the first quarter of fiscal 2010 was $9.9 million compared to $11.2 million in the first quarter of fiscal 2009. Supply Chain Messaging revenue was $10.6 million in the first quarter of fiscal 2010 compared to $11.6 million in the first quarter of fiscal 2009. Gross margin for the first quarter of fiscal 2010 was 70.3% compared to 70.5% in the first quarter of fiscal 2009.
Net income in the first quarter of fiscal 2010 was $1.4 million or $.04 per basic and diluted share compared to a net loss of $4.3 million or $.18 per basic and diluted share in the first quarter of fiscal 2009.
Adjusted EBITDA for the first quarter of fiscal 2010 was approximately $4.7 million compared to $3.7 million in the first quarter of fiscal 2009. EasyLink provides adjusted EBITDA in this press release as additional information of its operating results. This measure is not in accordance with, or an alternative for, generally accepted accounting principles ("GAAP") and may be different from non-GAAP EBITDA measures used by other companies. EasyLink believes that this presentation of adjusted EBITDA facilitates investors' understanding of its historical operating trends, because it provides an important supplemental measurement in evaluating the operating results of our business. A reconciliation of adjusted EBITDA to net income is set forth below. This press release should be read in conjunction with the Company's Form 8-K earnings release filed with the Securities and Exchange Commission for the fiscal quarter ended October 31, 2009.
"The Company continues to generate strong cash flow reporting approximately $4.3 million in cash from operations in the first fiscal quarter of 2010 as compared to $1.2 million in cash used in operations in the first quarter of fiscal 2009," said Mr. Shipley. "Our cash balance at October 31, 2009 was approximately $14.9 million and our outstanding debt was approximately $27.1 million."
Financial Outlook
"Based on our performance in the first quarter, we are raising our earnings per share guidance for fiscal 2010 from $.25 - $.30 per basic and diluted share to $.27 - $.32 per basic and diluted share," said Mr. Stallings. "We are reiterating our revenue and adjusted EBITDA guidance for fiscal 2010 which we previously stated to be in the low-to-mid $80 million range with adjusted EBITDA of approximately $20 million."
Investor Conference Call
The Company plans to hold a conference call on Friday, December 4, 2009 at 8:45 am EDT to discuss the first quarter fiscal 2010 results in detail.
To participate in the conference call, callers should dial 1-888-599-8667 or 1-913-313-1456. Please plan to dial in 5-10 minutes before the start of the call to facilitate a timely connection.
Forward-Looking and Cautionary Statements
Except for the historical information and discussion contained herein, statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those indicated by such forward-looking statements. These and other risk factors are set forth under the caption "Risk Factors" in the Company's Annual Report on Form 10-K, the Company's quarterly reports on Form 10-Q and the Company's other filings with the Securities and Exchange Commission. These filings are available on a website maintained by the Securities and Exchange Commission at www.sec.gov.
The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein as a result of new information, future events or otherwise.
About EasyLink Services International Corporation
EasyLink Services International Corporation ("EasyLink") (NASDAQ: ESIC) offers a comprehensive portfolio of "any to any" business messaging and transaction services that can bridge the most challenging technology gaps while creating significant cost efficiencies across an organization. From Desktop Fax and Production Messaging to EDI, Managed File Transfer, Document Capture and Management, and Telex, we help companies drive costs out of their operations. For more than two decades, we have had a proven track record of providing effective, reliable and secure communications. We continue to advance our technology so that our customers can benefit from improved messaging solutions. For more information on EasyLink, visit www.easylink.com.
EASYLINK SERVICES INTERNATIONAL CORPORATION
Consolidated Statements of Operations
(in thousands, except per share data)
Three Months Ended
October 31,
2009 2008
(unaudited) (unaudited)
Service revenue $ 20,498 $ 22,815
Cost of services 6,087 6,719
Gross Profit 14,411 16,096
Operating expenses:
Product development and enhancement 1,859 2,122
Selling and marketing 3,269 3,566
General and administrative 7,223 9,358
Operating income 2,060 1,050
Other income (expense):
Interest expense (net) (486 ) (4,988 )
Other income (expense) 334 62
Income (loss) before income taxes 1,908 (3,876 )
Provision for income taxes 544 457
Net income ( loss) 1,364 (4,333 )
Dividends on preferred stock (216 ) (50 )
Income (loss) attributable to common stockholders $ 1,148 $ (4,383 )
Basic income (loss) per common share $ 0.04 $ (0.18 )
Diluted income (loss) per common share $ 0.04 $ (0.18 )
Weighted average number of common shares outstanding - 26,269 24,910
basic
Weighted average number of common shares outstanding 29,416 24,910
-diluted
EASYLINK SERVICES INTERNATIONAL CORPORATION
Consolidated Balance Sheets
(in thousands)
October 31, July 31,
2009 (unaudited) 2009
ASSETS
Current assets:
Cash and cash equivalents $ 14,898 $ 10,972
Accounts receivable, net 11,972 11,509
Other current assets 3,095 3,836
Total current assets 29,965 26,317
Property and equipment, net 7,758 8,231
Goodwill and other intangible assets, net 54,901 56,248
Other long term assets 5,537 5,521
Total assets $ 98,161 $ 96,317
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses $ 10,510 $ 9,689
Current portion of long term debt 12,038 9,496
Other current liabilities 1,756 1,847
Total current liabilities 24,304 21,032
Long term debt 15,110 17,512
Other liabilities 427 554
Total liabilities 39,841 39,098
Stockholders' Equity:
Preferred stock (a) (a)
Common Stock 273 273
Additional paid-in capital 138,527 138,463
Treasury Stock (2,122 ) (2,122 )
Accumulated other comprehensive loss (4,725 ) (4,442 )
Accumulated deficit (73,633 ) (74,953 )
Total stockholders' equity 58,320 57,219
Total liabilities and stockholders' equity $ 98,161 $ 96,317
(a) less than 1,000
EASYLINK SERVICES INTERNATIONAL CORPORATION
Calculation of Adjusted Earnings before Interest, Taxes, Depreciation and
Amortization (unaudited, includes non-cash compensation)
(in thousands)
Three Months Ended October 31,
2009 2008
Net income (loss) $ 1,364 $ (4,333 )
Interest 494 5,117
Taxes 544 457
Depreciation and amortization 2,057 2,140
Non-cash compensation 236 330
Adjusted EBITDA $ 4,695 $ 3,711
Source: EasyLink Services International Corporation
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