Conn's, Inc. (NASDAQ: CONN)Conn's, Inc.
is a specialty retailer currently operating 76 retail locations in Texas, Louisiana and Oklahoma: with 23 stores in the Houston area, 20 in the Dallas/Fort Worth Metroplex, nine in San Antonio, five in Austin, five in Southeast Texas, one in Corpus Christi, four in South Texas, six in Louisiana and three in Oklahoma. It sells home appliances, including refrigerators, freezers, washers, dryers, dishwashers and ranges, and a variety of consumer electronics, including LCD, LED, 3-D, plasma and DLP televisions, camcorders, digital cameras, computers and computer accessories, Blu-ray and DVD players, video game equipment, portable audio, MP3 players, GPS devices and home theater products. The Company also sells lawn and garden products, furniture and mattresses, and continues to introduce additional product categories for the home to help respond to its customers' product needs and to increase same store sales. Unlike many of its competitors, the Company provides flexible in-house credit options for its customers. In the last three years, the Company financed, on average, approximately 61% of its retail sales.
Conn's, Inc., a specialty retailer of consumer electronics, home appliances, furniture, mattresses, computers and lawn and garden products today announced its operating results for the quarter ended July 31, 2010.
Significant items for the quarter include:
* Total revenues were $213.7 million, down 7.3% from the same period in the prior fiscal year;
* Retail gross margin increased to 25.4% for the quarter, as compared to 23.6% for the same period in the prior fiscal year;
* Retail segment income before income taxes increased $3.2 million for the quarter, as compared to the same quarter in the prior fiscal year, to $3.3 million;
* Credit portfolio annualized net charge-off rate increased to 4.7%, as compared to 3.4% for the same period in the prior fiscal year, which combined with reduced interest earnings and higher expenses resulted in a $0.4 million loss before income taxes for the credit segment; and
* Diluted earnings per share was $0.07 for the second quarter of fiscal 2011, as compared to $0.23 for the same period in the prior fiscal year.
ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, the company had approximately 29,900 employees, $151 billion of assets, and $181 billion of annualized revenues as of June 30, 2010. For more information, go to www.conocophillips.com.
ConocoPhillips today announced it received notice of LUKOIL's intent to exercise its option to purchase 42,500,000 of the LUKOIL depositary receipts held by ConocoPhillips at a price of $56 per share. ConocoPhillips has been advised by LUKOIL that the depositary receipts will be delivered to a third party financial institution. ConocoPhillips expects to receive pretax proceeds of $2.38 billion at closing on Sept. 29, 2010.
With completion of the option exercise, combined with the previously announced $3.44 billion sale of shares to LUKOIL and open market sales, ConocoPhillips will have generated year-to-date pretax proceeds of $6.44 billion. These proceeds will be used primarily to repurchase ConocoPhillips common stock. Following the option exercise, ConocoPhillips will hold a 6.15 percent remaining interest in LUKOIL.
Crown Equity Holdings Inc. (OTC BB: CRWE.OB)
Crown Equity Holdings Inc. announces that its sales this year have already surpassed $1,000,000. This compares to $232,510 for the three quarters ending September 30, 2009 and $ 659,907 total sales for the year 2009.
"Based on our sales to date, we had more than 4 times the sales for the same period last year and are 34% ahead of last year's total sales," commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. "Our growth in sales along with our investments in infrastructure and people give the company a basis for supporting future growth of the magnitude we have seen so far this year," stated Bosket.
Crown Equity Holdings Inc. has expanded its internet footprint internationally to include the following 19 countries: Argentina, Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Korea, Mexico, New Zealand, Singapore, Spain, Taiwan and the UK.
Crown Equity Holdings, Inc. has increased its workforce to an amount of 35, compared to this time last year's head count of 6, which is a 580% personnel increase. This is in addition to the 10 contractors we recently hired in Pakistan.
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CONSOL Energy Inc. (NYSE:CNX)
CONSOL Energy Inc., the leading diversified fuel producer in the Appalachian Basin, is a member of the Standard & Poor's 500 Equity Index and the Fortune 500. It has 11 bituminous coal mining complexes in six states and reports proven and probable coal reserves of 4.5 billion tons. It is also the leading Appalachian gas producer, with proved reserves of over 2.9 trillion cubic feet. Additional information about CONSOL Energy can be found at its web site: www.consolenergy.com.
CONSOL Energy Inc. has refinanced $102.865 million of industrial development bonds associated with its 100%-owned CNX Marine Terminal in the Port of Baltimore, Maryland. The municipal bonds are due on September 1, 2025 and carry an interest rate of 5.75%.
"We are very pleased to have refinanced this debt in a year when our terminal is expected to post record shipments of coal," commented William J. Lyons, chief financial officer. "We are also pleased to have negotiated an interest rate much lower than the current 6.5%."
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