Supertex Inc. (Nasdaq:SUPX) reported financial results for the third fiscal quarter ended January 1, 2011. Net sales for the third fiscal quarter were $19,675,000, a 12% decrease compared to the prior quarter of $22,359,000 and an 18% increase compared to $16,735,000 in the same quarter last year. On a GAAP basis, net income in the third fiscal quarter was $2,860,000, or $0.22 per diluted share, as compared with $3,822,000 or $0.29 per diluted share in the prior fiscal quarter, and $1,974,000 or $0.15 per diluted share in the same quarter of the prior fiscal year.
Supertex, Inc., together with its subsidiary, Supertex Limited designs, develops, manufactures, and markets high voltage analog and mixed signal integrated circuits (IC's) primarily in Asi, the United States, and Europe. It utilizes high voltage DMOS, HVCMOS, and HVBiCMOS analog and mixed signal technologies.
Proper Power & Energy, Inc. (OTC:PPWE)
Everyone has been touched by America’s oil and natural gas industry. Farmers use fertilizer that comes from natural gas. Truckers use diesel fuel to transport goods to the markets.
Businesses count on oil and natural gas to make and sell their products and supply their services. If you purchase a loaf of bread, buy a new electronic gadget, or drive a car, you should consider yourself a part of the oil and natural gas industry. From airline pilots to welders, and all jobs in between, we’ve all taken part in our energy future.
The industry reinforces jobs not just in exploring, producing, refining, transporting and marketing oil and natural gas, but also through the purchases it makes of other goods and services that support the industry’s operations. Equipment suppliers, construction companies, management specialists, and food service businesses are all a strong connection in the industry. These businesses turn around and purchase other goods.
Proper Power & Energy, Inc. has restructured its executive management team and entered into a strategic alliance.
Andrew J. Kacic will replace Joseph Abdo as President of PPWE. Mr. Kacic brings more than 32 years of progressive experience as a chief executive in oil and gas, investment banking, insurance services and public securities. Mr. Kacic was the founder and president of American Resources of Delaware, Inc. and its subsidiary Southern Gas Company, successfully taking assets from $220,000 to more than $40 million in less than 4 years. Mr. Abdo will remain the Chief Executive Officer and Chairman of the Board.
Concurrently to the management restructuring, PPWE has entered into a strategic alliance with Douglas Kiggins, founder of Mayo Energy Partners. Mr. Kiggins will assist Mr. Kacic in the development of the Company's Utah asset, with the target goal of drilling the first exploratory well in Utah by third Quarter 2011. Mr. Kiggins has participated in the drilling and development of over 250 oil and gas wells in Texas, Oklahoma and Colorado, with the deepest well reaching a total depth over 21,000 feet.
"The Company is now postured to accelerate the development of both Utah and Kentucky in the first Quarter 2011," Mr. Abdo stated.
Proper Power & Energy, Inc. was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
To learn more about PPWE visit: http://properpower.com
Mattel Inc. (Nasdaq:MAT) the world’s largest toy company, jointly announced with the Mattel Children’s Foundation a multi-year disaster response strategy, which includes a $750,000 cash donation and toy donation program in partnership with Save the Children and the American Red Cross. The initiative represents a strategic focus and groundbreaking shift toward corporate support of proactive preparedness planning with first responder organizations for immediate disaster relief globally when needs arise.
Mattel, Inc., together with its subsidiaries, engages in the design, manufacture, and marketing of various toy products worldwide. Its products include fashion dolls and accessories, vehicles and playsets, and games and puzzles.
Alliance Financial Corporation (Nasdaq:ALNC) the holding company for Alliance Bank, N.A., announced its net income for the quarter ended December 31, 2010 was $2.8 million or $0.59 per diluted common share, compared with $3.5 million or $0.75 per diluted common share in the year-ago quarter. Securities gains, net of non-recurring expenses, positively impacted the fourth quarter of 2009 by $0.09 per diluted share. Net income was $11.6 million for the year ended December 31, 2010, compared with $11.4 million in 2009. Net income available to common shareholders was $11.6 million or $2.48 per diluted share in 2010, compared with $10.4 million or $2.24 per diluted share in 2009. Preferred dividends and the accretion of the discount on preferred stock issued under the U.S. Department of the Treasury's Capital Purchase Program was $1.1 million or $0.24 per diluted share in 2009. The Company redeemed the preferred stock in May 2009.
Alliance Financial Corporation operates as the bank holding company for Alliance Bank, N.A., which provides various financial products and services to commercial, retail, government, and investment management customers in New York.
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