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Navigators Group, Inc. (NASDAQ:NAVG) will release its second quarter 2011 results after the close of regular stock market hours on Thursday, August 4, 2011. The earnings release will be available shortly thereafter on Navigators' website at www.navg.com. The Company will hold a conference call for investors and analysts on Friday, August 5, at 8:30 a.m. ET hosted by President and Chief Executive Officer Stan Galanski and Senior Vice President and Chief Financial Officer Frank McDonnell. The call will be available via live webcast on Navigators' website at www.navg.com.
Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd's of London. Headquartered in New York City, Navigators has offices in major insurance centers in the United States, the United Kingdom and Continental Europe.
Cubist Pharmaceuticals, Inc. (NASDAQ:CBST) announced that Charles Laranjeira has joined the company as Senior Vice President of Technical Operations. Mr. Laranjeira oversees all facets of Cubist's technical operations, including global manufacturing, quality, supply chain, and distribution. He reports to Robert Perez, Cubist's Chief Operating Officer.
Cubist Pharmaceuticals, Inc. is a biopharmaceutical company focused on the research, development, and commercialization of pharmaceutical products that address unmet medical needs in the acute care environment.Additional information can be found at Cubist's web site at www.cubist.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. is in the business of producing and conserving power. It produces and sells clean electricity globally, with a focus on sustainable energies using renewable resources such as Geothermal, Solar and Wind. Their goal is to use innovative technologies to reduce electricity consumption and dependence on carbon based energy.
Geothermal energy use does entail some environmental impact, but it is safe to say that the environmental benefits far outweigh the costs. Most geothermal facilities operate virtually emission free. Some even reduce sulfur emissions that would have occurred from natural venting if these sites had been left untapped. A few do produce some silica and sulfur dioxide, both of which are largely removed from the vapors and either returned to the hydrothermal well or processed and sold for industrial uses. Almost 100% of the visible, airborne effluent seen rising from geothermal plants is water vapor. Geothermal energy has the smallest land use of any major power generation technology. A typical geothermal facility occupies about the same space as a gas fired plant of the same capacity. But the geothermal facility does not require miles of buried pipeline to carry fuel to keep it running.
Geothermal facilities also have no coal or nuclear fuel to mine and transport, no radioactive wastes or ash wastes to deal with, and no emissions of carbon dioxide, particulates, or other combustion byproducts. In other words, geothermal energy is one resource that can be universally celebrated for its contribution to a cleaner, safer environment.
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.
A huge percentage of the world's fossil fuels come from the world's most volatile places. By reducing your use of oil derivatives, you reduce dependence on foreign energy sources, increasing our country's energy security by converting energy from waste.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
Rand Logistics, Inc. (Nasdaq:RLOG) announced financial and operating results for the fiscal year ended March 31, 2011. Marine freight revenue (excluding fuel and other surcharges, and outside charter revenue) was $90.4 million, an increase of 6.2% from $85.1 million. The increase in marine freight revenue was attributable to the strength of the Canadian dollar and price increases during the fiscal year ended March 31, 2011. Marine freight revenue per sailing day increased by $5 to $27,092 from $27,087. The increase was limited by inefficiencies in the Company's trade patterns that resulted from mechanical incidents during the first half of the fiscal year. Vessel operating expenses per sailing day increased by $2,463, or 11.9%, to $23,121 from $20,658. This increase was primarily attributable to higher fuel costs (which were offset by fuel surcharge revenues), a stronger Canadian dollar ($892 per day), as well as repair costs related to unusual vessel incidents under insurance deductibles and one-time assessments from our insurance carrier (combined $722 per day). Operating income plus depreciation and amortization was $18.4 million compared to $20.7 million (after a bank amendment fee of $446,000) in the prior year. Excluding $1.2 million of winter work, insurance, and transaction-related general and administrative expenses attributable to the two vessels purchased as part of the KKIS vessel acquisition, operating income plus depreciation and amortization equaled $19.6 million.
Rand Logistics, Inc., through its subsidiaries, provides bulk freight shipping services in the Great Lakes region. It offers domestic port-to-port services and River Class bulk freight shipping services in Canada and the United States. Rand Logistics, Inc. was founded in 1994 and is based in New York, New York.
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