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AZZ's Electrical and Industrial Products Segment helps channel energy around the world. As a recognized global leader in engineering and manufacturing electrical products, AZZ configures, designs, manufactures, tests and installs products that distribute electrical power between generators, transformers, switching devices and other electrical equipment. Our products transmit medium - and high - voltage electricity and channel the distribution of power from point of generation to end-user. Our industrial products include power distribution centers, electrical bus systems, hazardous duty lighting and tubular products, and are built to a standard of quality needed to run year after year, in all weather conditions, reliably and relatively maintenance-free.
For the three months - Revenues Increase 48%, Net income up 49%, Earnings per Share Increased 47% and Incoming Orders Increase 54%
AZZ incorporated (NYSE:AZZ), a manufacturer of electrical products and a provider of galvanizing services, announced unaudited financial results for the first quarter ended May 31, 2011. Revenues for the first quarter were $114.3 million compared to $77.5 million for the same quarter last year, an increase of 48 percent. Net income for the quarter was $9.5 million, or $0.75 per diluted share, compared to net income of $6.4 million, or $0.51 per diluted share, in last year's first fiscal quarter.
Backlog at the end of the first quarter was $114.7 million. Backlog at the end of the first quarter of FY 2011 was $111.0 million and $108.4 million at February 28, 2011. Incoming orders for the first quarter were $120.6 million while shipments for the quarter totaled $114.3 million, resulting in a book to ship ratio of 106 percent. Of the backlog of $114.7 million, 30 percent is to be delivered outside of the U.S.
Revenues for the Electrical and Industrial Products Segment for the first quarter of FY 2012 were $48.3 million as compared to $37.2 million for the same quarter last year, an increase of 30 percent. Operating income for the segment increased 12 percent to $7.4 million compared to $6.6 million in the same period last year. Operating margins for the first quarter were 15 percent compared to 18 percent in the same quarter last year.
Revenues for the Company's Galvanizing Service Segment for the first quarter were $66.1 million, compared to the $40.3 million in the same period last year, an increase of 64 percent. Operating income was $17.1 million as compared to $11.5 million in the prior period, an increase of 49 percent. The acquisition of North American Galvanizing accounted for $18.3 million of the increase in revenues and $3.8 million of the increase in operating income. Tonnage shipped increased 64 percent when compared to the prior period. Operating margins for the first quarter were 26 percent compared to 28 percent in the same quarter last year.
Based upon the evaluation of information currently available to management, we are revising our fiscal year 2012 guidance for revenues to be in the range of $450 to $475 million. Our earnings guidance is revised and anticipated to be within the range of $2.90 to $3.10 per diluted share. The previously issued guidance was for revenues to be in the range of $425 to $450 million and that fully diluted earnings per share would be in the range of $2.70 to $3.05. Our guidance does include the increased interest expense in fiscal 2012 of $0.34 per diluted share associated with the $125 million of Senior Private Placement Notes issued on January 20, 2011.
Additionally, the Company announced that the Board of Directors, at its regularly scheduled quarterly meeting, declared a 25 cent per share cash dividend on the Company's common stock outstanding. The dividend with be paid at the close of business on July 29, 2011, to shareholders of record on July 15, 2011.
Atmel Corporation (Nasdaq:ATML) announced the Atmel maXTouch™ mXT112E controller optimized for 2.8- to 3.5-inch touchscreens for the fast growing consumer markets including feature phones, digital still cameras, global positioning systems (NYSE:GPS), gaming consoles and other high-volume devices. The Atmel maXTouch mXT112E includes all the proven functions of the maXTouch E series tailored to meet the precise needs of these exciting consumer devices.
Atmel Corporation designs, develops, manufactures, and markets a range of semiconductor integrated circuit (IC) products. The company was founded in 1984 and is headquartered in San Jose, California.
National Health Partners, Inc. (OTC:NHPR)
National Health Partners, Inc. is a national healthcare savings organization that provides discount healthcare membership programs to uninsured and underinsured people through a national healthcare savings network called "CARExpress." CARExpress is one of the largest networks of hospitals, doctors, dentists, pharmacists and other healthcare providers in the country and is comprised of over 1,000,000 medical professionals that belong to such PPOs as CareMark and Aetna.
National Health Partners, Inc primary target customer group is the 47 million Americans who have no health insurance of any kind. The company's secondary target customer group includes the millions of Americans who lack complete health insurance coverage.
National Health Partners, Inc., a leading provider of discount healthcare membership programs, announced the recent signing of two new significant marketing agreements. These two clients provide very different opportunities and continue to expand the reach of CARExpress into new marketplaces.
By launching their own unique internet marketing program, the first group should be able to provide a widespread push into the on-line market to produce an excellent volume of new CARExpress sales into the pipeline. In addition, the second group offers a reach into the wholesale marketplace where CARExpress will be wrapped into other programs to enhance the value of the overall package to the consumer. They would consider this non-traditional business and a great opportunity to expand their reach as well as recognition of the CARExpress program nationwide.
The company plans to announce the rollout of these new marketing campaigns as well as several others over the next few weeks.
Health savings account is more than a simple savings account. Deposits into a health savings account are made with your funds before taxes are deducted. Interest on these savings is tax free, and any money you remove from the account to pay for medical expenses is not taxable. The money in your health savings account continues to draw interest as long as it is in the account. If you move or simply change banks, your HSA goes with you. It's your money. As long it's in the account, it continues to work for you.
For more information about National Health Partners, Inc. visit its website at www.nationalhealthpartners.com
GSV Capital Corp. (Nasdaq:GSVC) announced that it has acquired 225,000 shares in social-networking company Facebook at an average price of $29.28 per share. The investment of $6,587,500 represents approximately 15% of GSV's total portfolio. "Facebook is a one-of-a-kind business which has created enormous network effects. With over 650 million people on its platform, or approximately 1/10 of the world's population, Facebook has established itself as a next generation social communications platform," said Michael T. Moe, GSV Capital's CEO and founder.
GSV Capital Corp. is a publicly traded investment fund that gives individual investors access to high growth, venture backed private companies. GSV Capital is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. GSV is headquartered in Woodside, CA. For more information please visit http://gsvcap.com/
Cleantech Transit Inc. (OTCPK:CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project can generate shareholder returns as well benefit the Company's manufacturing clients worldwide.
Cleantech Transit, Inc. (OTCPK:CLNO) is pleased to announce it has met its funding requirement to secure the Company's ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
Biomass is an abundant resource; biomass refers to a wide range of possible energy sources from wood, straws, grasses and energy crops. It also consists of food waste and numerous other resources presently regarded as waste. We want to make use of these resources much more efficiently, and they are able to play a critical role in removing our dependence on foreign oil and fuels which emit carbon emissions. Even so, to make use of biomass a lot more efficiently, the biomass needs to be processed.
Please visit Cleantech Transit, Inc. website www.cleantechtransitinc.com.
Peoples Financial Corporation (NASDAQ:PFBX), parent of The Peoples Bank, declared a regular semiannual cash dividend of $.09 per common share, payable July 20, 2011, to stockholders of record July 13, 2011. The company was founded in 1896 and is headquartered in Biloxi, Mississippi.
Peoples Financial Corporation operates as the bank holding company for The Peoples Bank, which provides banking products and services to individuals and small to middle market businesses in Mississippi.
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