Precision Castparts Corp. (NYSE:PCP) maintained its solid operational performance during the second quarter of fiscal 2011, mitigating lost leverage from the planned downtime of major forging complexes and seasonal European holidays.
Second Quarter Fiscal 2011 Financial Highlights
In the second quarter of fiscal 2011, total sales were $1.5 billion, increasing 17 percent over sales of $1.3 billion a year ago. Operating income also grew by 8 percent year over year, reaching $362.6 million, or 24.0 percent of sales in the quarter, compared to $337.3 million, or 26.1 percent of sales last year. Net income from continuing operations (attributable to PCC) in the second quarter totaled $243.6 million, versus $218.4 million in the second quarter of fiscal 2010. Earnings per share from continuing operations (attributable to PCC) in the quarter were $1.70 (diluted, based on 143.5 million shares outstanding), compared to $1.54 (diluted, based on 141.6 million shares outstanding) in the same quarter last year.
Precision Castparts Corp. manufactures metal components and products primarily in the United States and the United Kingdom.
GreenHouse Moves to Up-List Shares to a Senior Securities Exchange
GreenHouse Holdings, Inc. (OTCQB:GRHU) , a San Diego, California based integrated energy solutions provider and developer of eco-friendly infrastructure, this morning announced that the Company is completing the necessary steps to Up-List its shares to a senior U.S. stock exchange. In order to facilitate the transition, GreenHouse established an independent board and appointed PKF, a nationally recognized accounting firm, as their SEC auditors.
"Graduating to a senior U.S. exchange is a high priority for the company given the progress we have made in securing multiple contracts with the U.S. Military and Fortune 100 industrial customers," said John Galt, GreenHouse Founder and Executive Chairman.
"We believe transitioning to a larger exchange is the next logical step in the Company's future growth and will allow us to gain exposure and be recognized by a broader segment of the investment community. We have witnessed that a number of companies which Up-List to national exchanges experienced impressive increases in liquidity.
GreenHouse is confident that now is the appropriate time to move to a senior exchange, as our operations have increased both domestically and abroad. The Up-Listing will allow us to attract additional investors as we strive to improve shareholder value."
The Board of Directors has now announced that they have made the following appointments in advance of the planned Up-Listing:
- Sy Siegel as the Chair of the Audit Committee;
- Charles Allured as the Chair of the Compensation Committee; and
- General Floyd Trogden as the Chair of the Nominating Committee.
About GreenHouse Holdings, Inc.
GreenHouse Holdings, Inc. is a San Diego, California based integrator of some of the world's most innovative environmental, public safety, infrastructure technologies. GreenHouse provides systems that are financially sound and sustainable to residential, commercial, industrial and government markets around the globe.
SinoTech Energy Limited (Nasdaq:CTE) recently announced that its initial public offering of 19,736,842 American Depositary Shares (”ADSs”), each representing two ordinary shares of SinoTech, was priced at $8.50 per ADS. The ADSs began trading on the NASDAQ Global Select Market on November 3, 2010, under the symbol “CTE”.
15,789,474 ADSs are being offered by SinoTech and an aggregate of 3,947,368 ADSs are being offered by selling shareholders.
SinoTech Energy Limited provides enhanced oil recovery (EOR) services to oil companies in the People’s Republic of China.
Unilife Corporation (Nasdaq:UNIS) announced recently that it intends to release its financial results for the fiscal 2011 first quarter ended September 30, 2010 after market trading ends on Monday, November 15, 2010.
Management has scheduled a conference call for 4:30 p.m. U.S. Eastern Standard Time on November 15, 2010 (Tuesday, November 16 at 8:30 a.m. AEDT), to review the Company’s financial results, market trends, and future outlook. The conference call will be broadcast over the Internet as a “live” listen only Webcast. To listen, please go to: http://ir.unilife.com/events.cfm
Unilife Corporation, a medical device company, engages in the design, development, manufacture, and supply of a proprietary range of retractable syringes.
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