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KIRK, PWRM.OB, KITD, & KEX: KIT digital Acquires Video Asset Management Solutions Provider, Brickbox Digital Media




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Kirkland's, Inc. (NASDAQ: KIRK)

Kirkland's, Inc. was founded in 1966 and is a specialty retailer of home décor in the United States. Although originally focused in the Southeast, the Company has grown beyond that region and currently operates 287 stores in 28 states. The Company's stores present a broad selection of distinctive merchandise, including framed art, mirrors, candles, lamps, picture frames, accent rugs, garden accessories and artificial floral products. The Company's stores also offer an extensive assortment of gifts, as well as seasonal merchandise.

Kirkland's, Inc. has recently reported their financial results for the 13-week and 26-week periods ended July 31, 2010.

Net sales for the 13-week period ended July 31, 2010 increased 2.1% to $89.5 million compared with $87.7 million for the 13-week period ended August 1, 2009. During the 13-week period, the Company operated an average of 282 stores as compared to 291 in the prior-year period. Comparable store sales for the second quarter of fiscal 2010 increased 1.0% compared with an increase of 6.1% in the prior-year period. The Company opened seven stores and closed two stores during the quarter to end the period with 286 stores.

Net sales for the 26-week period ended July 31, 2010 increased 7.0% to $183.0 million compared with $171.0 million for the 26-week period ended August 1, 2009. Comparable store sales for the 26 weeks ended July 31, 2010 increased 6.6% compared with an increase of 5.7% in the prior year period. The Company opened 13 stores and closed six stores during the 26-week period.

The Company reported net income of $3.3 million, or $0.16 per diluted share, for the second quarter of fiscal 2010 compared with net income of $3.4 million, or $0.17 per diluted share, for the second quarter of fiscal 2009. Income tax expense for the second quarter of fiscal 2009 included a benefit of approximately $0.6 million, or $0.03 per diluted share, related to the reversal of a portion of the valuation allowance on the Company's deferred tax assets established in prior periods.

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power3

POWER 3 MEDICAL PRODUCTS (OTC BB: PWRM.OB)

PWRM pursues an aggressive intellectual property strategy to protect its inventions and discoveries made on its own and with its collaborators. Power3 Medical works with key physician scientists at major medical research and treatment centers. With access to decisive human clinical samples and superior trade secret proteomic methodologies, the Company provides solutions to pressing challenges in diagnosis and treatment of patients and has concluded research agreements, technology license agreements, and filed provisional and utility patents. Power3 is also adding additional layers of research and license agreements, patent filings, and trade secrets, as its technology and product portfolio develops.

Power3 Medical Products, Inc., a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, announced today that it delivered four poster presentations at the 2010 International Conference on Alzheimer's Disease (ICAD) in Honolulu, Hawaii. These presentations discussed NuroPro®, Power3's diagnostic test, and focused on Power3's Alzheimer's disease blood serum biomarkers, test and clinical validation trials.

"In preparation for commercialization, our objective at this meeting was to show how Power3's protein biomarkers and blood tests provide superior solutions for diagnosis and drug response to improve the treatment of Alzheimer's disease," said Dr. Ira L. Goldknopf, Power3's President and Chief Scientific Officer. "It was gratifying to receive substantial attention to our posters from representatives of major pharma and clinical research institutions from around the world. They expressed surprise and enthusiasm for our findings, especially those relating to the methods by which Power3's protein biomarkers indicate how patients respond to treatment with the three major anti-dementia drugs."

"We are pleased that our blood tests specifically diagnose Alzheimer's in patients, both pre- and post-treatment," said Helen R. Park, MS, Chief Executive Officer of Power3, "and that our scientific collaborators, Dr. Marwan Sabbagh, Medical and Scientific Director of the Banner Sun Health Medical Research Institute, and Dr. Lourdes R. Bosquez, President of the Woodlands Behavioral Institute, Inc., presented along with us at the meeting in Hawaii."

"We are within striking distance of realizing an Alzheimer's clinical diagnostic tool which I hope will lead to a greater understanding of the disease and buoy the pace of future therapeutic interventions," added Marwan Sabbagh MD, Medical and Scientific Director of Banner Sun Health Medical Research Institute.

Power3 has filed several patent applications for its NuroPro® technology that are currently pending. Power3 also has a world-wide exclusive license from the Baylor College of Medicine in Houston, Texas. To date, Power3 has given 9 presentations on NuroPro at international scientific meetings in the United States, Europe and China, and has published 6 articles in peer-reviewed scientific journals on the subject. Power3 intends to publish these latest findings as well.

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KIT digital (NASDAQ:KITD)

KIT digital is a leading global provider of video asset management solutions (VAMs) for multi-screen IP-based delivery. KIT VX-one, the company's family of end-to-end software platform solutions, enables enterprise clients to acquire, manage and distribute video assets across the three screens of today's world: the personal computer, mobile device, and IPTV-enabled television set. The application of VX ranges from commercial video distribution to internal corporate deployments, including corporate communications, human resources, training, security and surveillance. KIT digital's client base includes more than 1,000 customers across 40+ countries, including The Associated Press, Best Buy, Bristol-Myers Squibb, Disney-ABC, FedEx, General Motors, Google, Hewlett-Packard, Home Depot, IMG Worldwide, ESPN Star, MediaCorp, News Corp, Telefonica, Verizon and Vodafone. KIT digital is headquartered in Prague, and maintains principal offices in Atlanta, Beijing, Boston, Buenos Aires, Cairo, Cambridge (NASDAQ:UK), Chennai, Cologne, Delhi, Dubai, Kolkata, London, Melbourne (Australia), Mumbai, New York, Singapore, Stockholm and Toronto.

KIT digital, the leading global provider of video asset management solutions (VAMs) for multi-screen IP-based delivery, has acquired privately-held Brickbox Digital Media s.r.o., based in Prague, Czech Republic, along with its international subsidiaries and affiliates. All currency figures below are in U.S. dollars.

Brickbox Digital Media is one of Europe's leading providers of traditional and next-generation digital video asset management solutions. The company serves as an intermediary between content owners and distributors, offering products and services that include mezzanine file management, localization, digital cinema mastering, and authoring of media for replication. Brickbox uses order scale across regions to realize cost efficiencies for a global client base, which also requires outsourced replication, packaging, and distribution to the physical point of sale. Brickbox primarily serves European distributors out of its Prague headquarters and back-office operations in Sofia, Bulgaria, with sales and account management offices in Los Angeles, London and several locations in Central and Eastern Europe (NYSE:CEE). Brickbox manages its business through international subsidiaries and affiliates, such as International Digital Management in the U.S., in order to comply with local employment and content rights regulations.

Based on recently closed August results, Brickbox and its affiliates derive approximately $12 million in annualized revenues, with an estimated $1 million in standalone profit over the trailing twelve months. Based on pro forma synergies and associated integration and restructuring expenses, KIT digital expects the acquisition to be accretive on both a revenue and operating cash-flow basis.

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Kirby Corporation (NYSE:KEX)

Kirby Corporation, operates inland tank barges and towing vessels transporting petrochemicals, black oil products, refined petroleum products and agricultural chemicals throughout the United States' inland waterway system. Kirby also owns and operates four ocean-going barge and tug units transporting dry-bulk commodities in United States coastwise trade. Through the diesel engine services segment, Kirby provides after-market service for medium-speed and high-speed diesel engines and reduction gears used in marine, power generation and railroad applications.

Kirby Corporation announced today that Kirby will present at the Morgan Keegan Industrial/Transportation Conference on Tuesday, September 14, 2010, and the Credit Suisse Small & Mid Cap Conference on Wednesday, September 15, 2010. Specifics of each conference are as follows:

Morgan Keegan Industrial/Transportation Conference

Location: Drake Hotel, Chicago, Illinois

Presenter: Joe Pyne, Chairman, President and Chief Executive Officer

Presentation date and time: Tues., September 14, 2010, 1:45 p.m. central time

Credit Suisse Small & Mid Cap Conference

Location: The Boston Harbor Hotel, Boston, Massachusetts

Presenter: Joe Pyne, Chairman, President and Chief Executive Officer

Presentation date and time: Wed., September 15, 2010, 2:40 p.m. eastern time

 

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