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SPI Solar Announces Fourth-Quarter and Full-Year 2012 Financial Results

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SPI Solar Announces Fourth-Quarter and Full-Year 2012 Financial Results

ROSEVILLE, Calif.–(BUSINESS WIRE)– SPI Solar (“SPI”) (SOPW:OTCBB), a vertically integrated photovoltaic (“PV“) solar developer, today announced its results for the fourth quarter and year ended December 31, 2012.

Fourth-Quarter 2012 Results:

Total net sales for the fourth quarter of 2012 were $13.0 million compared with $61.3 million for the fourth quarter of 2011, which included a $42.0 million solar panel shipment to KDC Solar LLC.

Total cost of goods sold for the fourth quarter of 2012 was $16.1 million compared with $53.3 million for the fourth quarter of 2011. Cost of goods sold for the fourth quarter of 2012 included $3.1 million in impairment charges due to $2.7 million in cost in excess of projected budgets on the Greek project portfolio and $0.4 million in impairment for inventory obsolescence.

Total operating expenses for the fourth quarter of 2012 were $11.4 million compared with $4.6 million for the fourth quarter of 2011. Operating expenses for the fourth quarter of 2012 included $3.1 million in non-recurring charges, $2.1 million of consulting and commission expenses related to the Company’s Italian subsidiary, $1.1 million in audit-related expenses, and $0.1 million in impairment of an intangible asset due to a change in business strategy.

Net loss for the fourth quarter of 2012 was $15.2 million, or ($0.08) per basic and diluted share. This compared with net income of $3.8 million, or $0.02 per basic and diluted share, for the fourth quarter of 2011.

Full-Year 2012 Results:

As a reminder, the historical financials and comparisons noted below reflect the acquisition of Solar Green Technologies, the Company’s Italian subsidiary, as required under U.S. GAAP accounting guidelines for a transfer of an entity under common control. As a result, excluded from the results of operations below are the results of legacy Solar Power, Inc. for the three months ended March 31, 2011, as follows: net sales of $5.8 million, cost of goods sold of $5.1 million, and operating expenses of $2.2 million.

For the year ended December 31, 2012, total net sales were $100.0 million, compared with $139.8 million for 2011. Gross profit for 2012 was $8.6 million, compared with $15.9 million for 2011.

For 2012, the Company reported total cost …read more
Source: FULL ARTICLE at DailyFinance

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American Realty Investors, Inc. Reports Fourth Quarter and Full Year 2012 Results

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American Realty Investors, Inc. Reports Fourth Quarter and Full Year 2012 Results

DALLAS–(BUSINESS WIRE)– American Realty Investors, Inc. (NYS: ARL) , a Dallas-based real estate investment company, today reported results of operations for the fourth quarter ended December 31, 2012. For the three months ended December 31, 2012, the Company reported a net loss applicable to common shares of $5.1 million or $0.45 per share, as compared to a net loss applicable to common shares of $5.9 million or $0.51 per share for the same period ended 2011.

For the twelve months ended December 31, 2012, the Company’s net loss applicable to common shares was $8.0 million, which includes gain on land sales of $5.5 million, $4.7 million of provisions on the impairment of notes receivable and real estate assets, and net income from discontinued operations of $4.6 million. The prior year net loss applicable to common shares of $2.2 million includes gain on land sales of $34.2 million, $44.4 million of provisions on the impairment of notes receivable and real estate assets, and net income from discontinued operations of $29.1 million.

The Company has an unwavering commitment to fortify our portfolio and streamline our operational activity, while at the same time maintaining our commitment to creating value. We are pleased that we are seeing improvements in our operations from these endeavors and will continue to adapt to market challenges with an eye on both near term economic challenges and long-term prospects as the real estate market improves.

Our apartment portfolio continues to thrive in the current economic conditions with occupancies averaging over 95%. We continue to work aggressively to attract new tenants and strive for continuous improvement of our properties in order to maintain our existing tenants.

Rental and other property revenues were $119.5 million for the twelve months ended December 31, 2012. This represents an increase of $11.0 million as compared to the prior year revenues of $108.5 million. This change, by segment, is an increase in the apartment portfolio of $9.0 million, an increase in the commercial portfolio of $2.5 million, offset by a decrease in the land portfolio of $0.5 million. Within the apartment portfolio, there was an increase of $6.1 million in the newly constructed residential apartment portfolio and an increase of $2.9 million in the same property portfolio. Our existing commercial portfolio increased by $2.5 million in the same store properties due to a lease termination fee from a settlement agreement with a commercial tenant.

Depreciation expense was $21.6 million …read more
Source: FULL ARTICLE at DailyFinance

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Transcontinental Realty Investors, Inc. Reports Fourth Quarter and Full Year 2012 Results

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Transcontinental Realty Investors, Inc. Reports Fourth Quarter and Full Year 2012 Results

DALLAS–(BUSINESS WIRE)– Transcontinental Realty Investors, Inc. (NYS: TCI) , a Dallas-based real estate investment company, today reported results of operations for the fourth quarter ended December 31, 2012. For the three months ended December 31, 2012, the Company reported net loss applicable to common shares of $6.4 million or $0.76 per share, as compared to a net loss applicable to common shares of $21.3 million or $2.54 per share for the same period ended 2011.

For the twelve months ended December 31, 2012, the Company’s net income applicable to common shares increased by $38.0 million, as compared to the prior year. The current year net loss applicable to common shares of $9.4 million or $1.12 per share includes gain on land sales of $6.9 million, $4.7 million of provisions on the impairment of notes receivable and real estate assets, and net income from discontinued operations of $2.5 million. The prior year net loss applicable to common shares of $47.4 million or $5.67 per share includes gain on land sales of $17.0 million, $37.0 million of provisions on the impairment of notes receivable and real estate assets, and net income from discontinued operations, of $4.1 million.

The Company has an unwavering commitment to fortify our portfolio and streamline our operational activity; while at the same time maintaining our commitment to creating value. We are pleased that we are seeing improvements in our operations from these endeavors and will continue to adapt to market challenges with an eye on both near term economic challenges and long-term prospects as the real estate market improves.

Our apartment portfolio continues to thrive in the current economic conditions with occupancies averaging over 95%. We continue to work aggressively to attract new tenants and strive for continuous improvement of our properties in order to maintain our existing tenants.

Rental and other property revenues were $116.0 million for the twelve months ended December 31, 2012. This represents an increase of $9.7 million, as compared to the prior year revenues of $106.3 million. This change, by segment, is an increase in the apartment portfolio of $7.4 million, an increase in the commercial portfolio of $2.6 million offset by a decrease in the land and other portfolios of $0.3 million. Within the apartment portfolio, there was an increase of $6.1 million in the developed properties in the lease-up phase and an increase of $1.3 million in the same property portfolio. Our existing commercial portfolio increased by $2.6 million in …read more
Source: FULL ARTICLE at DailyFinance

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Diamond Resorts Corporation Reports Fourth Quarter and Full Year 2012 Financial Results

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Diamond Resorts Corporation Reports Fourth Quarter and Full Year 2012 Financial Results

LAS VEGAS–(BUSINESS WIRE)– Diamond Resorts Corporation, together with Diamond Resorts Parent, LLC and its subsidiaries (“Diamond” or the “Corporation”), today announced results for the quarter and year ended December 31, 2012. “We remain pleased with the continued year over year improvement in our operating performance and continue to focus on the growth of our integrated hospitality platform,” said David F. Palmer, President and Chief Executive Officer.

Full Year 2012 Highlights

  • Adjusted EBITDA for the consolidated operations of Diamond Resorts Parent, LLC, increased $51.4 million to $109.9 million for the year ended December 31, 2012 from $58.5 million for the year ended December 31, 2011. For 2012, Adjusted EBITDA included $3.3 million non-cash stock-based compensation expense and a $5.0 million charge related to termination payments in connection with the Tempus Acquisition. For 2011, Adjusted EBITDA included $9.7 million water intrusion assessment levied by the HOA of one of our managed resorts.
  • Hospitality and Management Services grew 6.9%, contributing another $5.6 million to Net Income for 2012 compared to 2011.
  • Vacation Interest revenues grew by $107.2 million, or 50.7% between the 2012 and 2011. This growth was driven by:
    • an increase in tours of 34,721 to 180,981
    • an increase in closing percentage of 0.4% to 14.8%
    • an increase in average transaction price of $2,020 to $12,510
  • Advertising, sales and marketing expense as a percentage of vacation interest sales decreased 4.9 percentage points to 56.0%.
  • On October 5, 2012, we completed the acquisition of Aegean Blue Holdings Plc, adding five more resorts and new owners to our system. On May 21, 2012, we completed the acquisition of Pacific Monarch Resorts, Inc., and its affiliates adding nine more resorts, four management contracts, and new owners to our system.

Fourth Quarter 2012 Highlights

  • Adjusted EBITDA for the consolidated operations of Diamond Resorts Parent, LLC, increased $28.4 million to $32.5 million for the quarter ended December 31, 2012 from $4.1 million for the quarter ended December 31, 2011. For 2012, Adjusted EBITDA included $3.3 million non-cash …read more
    Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

Dave & Buster's, Inc. to Report Fourth Quarter & Full Year 2012 Financial Results on April 16, 2013

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Dave & Buster’s, Inc. to Report Fourth Quarter & Full Year 2012 Financial Results on April 16, 2013

DALLAS–(BUSINESS WIRE)– Dave & Buster’s, Inc., a leading operator of high volume entertainment/dining complexes, today announced that it will report financial results for its fourth quarter and full year 2012 ended February 3, 2013 on April 16, 2013 at 8:00 a.m. Central Time (9:00 a.m. Eastern Time).

Management will hold a conference call to discuss these results that same day at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). The conference call can be accessed over the phone by dialing 1-888-395-3227 or for international callers by dialing 1-719-457-1035. A replay will be available after the call for one year beginning at 1:00 p.m. Central Time (2:00 p.m. Eastern Time) and can be accessed by dialing 1-877-870-5176 or for international callers by dialing 1-858-384-5517; the passcode is 5321488.

Additionally, a live and archived webcast of the conference call will be available at www.daveandbusters.com under the Investor Relations section.

About Dave & Buster’s, Inc.

Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster’s is the premier national owner and operator of 61 high-volume venues that offer interactive entertainment options for adults and families, such as skill/sports-oriented redemption games and technologically advanced video and simulation games, combined with a full menu of high quality food and beverages. Dave & Buster’s currently has stores in 26 states and Canada. For additional information on Dave & Buster’s, please visit www.daveandbusters.com.

ICR
Fitzhugh Taylor / Raphael Gross
203-682-8261 / 203-682-8253

KEYWORDS:   United States  North America  Texas

INDUSTRY KEYWORDS:

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(function(c,a){window.mixpanel=a;var …read more
Source: FULL ARTICLE at DailyFinance

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ZaZa Energy Reports 2012 Year-End Results and Provides Operational Updates

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ZaZa Energy Reports 2012 Year-End Results and Provides Operational Updates

  • Substantial revenue and other income reported from gain on transactions
  • $66.8 million of debt paid down in CY12 with plans to further reduce debt in CY13
  • Joint Venture in the Eaglebine in 1Q13 provides company with increased financial flexibility and alliance with proven, best-in-class operator

HOUSTON–(BUSINESS WIRE)– ZaZa Energy Corporation (“the Company” or “ZaZa”) (NAS: ZAZA) today announced operational and financial results for the year ended December 31, 2012.

Results of operations include the results of the Company’s accounting predecessor, ZaZa LLC, from January 1, 2012 through February 20, 2012, and all of the Company’s subsidiaries, since February 21, 2012, excluding ZaZa Energy France (“ZEF”), which was sold on December 21, 2012 and is presented as discontinued operations.


Full Year 2012 Results

For the year ended December 31, 2012, ZaZa reported revenues and other income from continuing operations of $205.2 million, as compared to $17.6 million reported for the year ended December 31, 2011. Included in 2012 revenues and other income is $195.6 million related to the gain on termination of the Hess Agreements. This gain consisted of a step up of oil and gas property to fair value of $117.0 million, a write-off of $5.4 million in working capital and a cash payment by Hess to ZaZa in the amount of $84.0 million.

The Company reported oil and gas revenue for the year of $9.6 million, up from $2.5 million for the year ended December 31, 2011. The increase in oil and gas revenue is primarily a result of the termination agreements with Hess. An overall rise in oil prices also contributed to this increase.

Operating costs and expenses for the year ended December 31, 2012 were $130.9 million as compared …read more
Source: FULL ARTICLE at DailyFinance

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Ares Commercial Real Estate Corporation Reports Fourth Quarter and Full Year 2012 Financial Results

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Ares Commercial Real Estate Corporation Reports Fourth Quarter and Full Year 2012 Financial Results

CHICAGO–(BUSINESS WIRE)– Ares Commercial Real Estate Corporation (NYS: ACRE) announced its financial results for the quarter and full-year ended December 31, 2012.

FOURTH QUARTER 2012 HIGHLIGHTS

  • Closed seven new senior loans totaling approximately $187.2 million in commitments (approximately $162.1 million in outstanding principal) collateralized by multi-family apartment and office buildings
  • Issued $69.0 million (gross) aggregate principal balance of 7.000% Convertible Senior Notes due 2015
  • For the fourth quarter of 2012, earned net income of $1.1 million or $0.12 per basic and diluted common share and Core Earnings of $1.3 million or $0.14 per basic and diluted common share
  • Declared a fourth quarter 2012 dividend of $0.25 per common share, which was paid on January 10, 2013

FULL-YEAR 2012 HIGHLIGHTS

  • Ended 2012 with fifteen loans totaling approximately $405.7 million in commitments (approximately $356.7 million in outstanding principal)
  • For full-year 2012, earned net income of $0.2 million or $0.03 per basic and diluted common share and Core Earnings of $0.6 million or $0.09 per basic and diluted common share

SUMMARY OF FOURTH QUARTER AND FULL-YEAR 2012 FINANCIAL RESULTS

Net income attributable to common stockholders was $1.1 million or $0.12 per basic and diluted common share and $186 thousand or $0.03 per basic and diluted common share for the three months and year ended December 31, 2012, respectively. Core Earnings for the three months and year ended December 31, 2012 were $1.3 million or $0.14 per basic and diluted common share and approximately $621 thousand or $0.09 per basic and diluted common share, respectively. Reconciliation of Core Earnings to the most directly comparable GAAP financial measure, net income, is set forth for the three months and year ended December 31, 2012 in a table at the end of this presentation. Although we have presented prior periods, we commenced investment operations …read more
Source: FULL ARTICLE at DailyFinance

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Unico American Corporation Reports Fourth Quarter and Full Year 2012 Financial Results

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Unico American Corporation Reports Fourth Quarter and Full Year 2012 Financial Results

WOODLAND HILLS, Calif.–(BUSINESS WIRE)– Unico American Corporation (NAS: UNAM) (“Unico,” the “Company”) announced today its consolidated financial results for the three and twelve months ended December 31, 2012. For the three months ended December 31, 2012, revenues were $7.9 million and net income was $0.6 million ($0.10 diluted income per share) compared with revenues of $8.3 million and net income of $0.6 million ($0.12 diluted income per share) for the three months ended December 31, 2011. For the twelve months ended December 31, 2012, revenues were $32.8 million and net income was $2.0 million ($0.36 diluted income per share) compared with revenue of $34.6 million and net income of $3.7 million ($0.70 diluted income per share) for the twelve months ended December 31, 2011.

Stockholders’ equity was $70.4 million as of December 31, 2012, or $13.18 per common share including unrealized after-tax investment gains of $0.1 million, compared to Stockholders’ equity of $75.8 million as of December 31, 2011, or $14.20 per common share including unrealized after-tax investment gains of $1 million.

Headquartered in Woodland Hills, California, Unico is an insurance holding company that underwrites property and casualty insurance through its insurance company subsidiary; provides property, casualty, and health insurance through its agency subsidiaries; and through its other subsidiaries provides insurance premium financing and membership association services. Unico has conducted the majority of its operations through its subsidiary Crusader Insurance Company since 1985. For more information concerning Crusader Insurance Company, please visit the Crusader’s Web site at www.crusaderinsurance.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained herein that are not historical facts are forward-looking. These statements, which may be identified by forward-looking words or phrases such as “anticipate,” “believe,” “expect,” “intend,” “may,” “should,” and “would,” involve risks and uncertainties, many of which are beyond the control of the Company. Such risks and uncertainties could cause actual results to differ materially from these forward-looking statements. Factors which could cause actual results to differ materially include underwriting actions not being effective, rate increases for coverages not being sufficient, premium rate adequacy relating to competition or regulation, actual versus estimated claim experience, regulatory changes or developments, unforeseen calamities, general market conditions, and the Company’s ability to introduce new profitable products.

Financial Tables Follow –

…read more
Source: FULL ARTICLE at DailyFinance
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Kips Bay Medical Provides FDA Update & Reports Fourth Quarter and Full Year 2012 Results

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Kips Bay Medical Provides FDA Update & Reports Fourth Quarter and Full Year 2012 Results

MINNEAPOLIS–(BUSINESS WIRE)– Kips Bay Medical, Inc. (NAS: KIPS) along with Manny Villafaña, its Founder, Chairman and CEO, today provided an update on its progress with the U.S. FDA and announced financial results for fourth quarter and year ended December 31, 2012.

FDA Update

Recent highlights:

  • Receipt of IDE approval with conditions from the U.S. FDA.
  • U.S. FDA approves enrollment expansion to 15 patients in the U.S.
  • First eSVS Mesh Implants in the U.S.
  • U.S. FDA removes conditions from IDE approval.

Kips Bay is currently conducting a feasibility trial in the United States and Europe. This trial is a multi-center, randomized study of external saphenous vein graft (“SVG“) support using the Company’s eSVS® Mesh in CABG Surgery and is titled the eMESH I clinical feasibility trial. The objective of this trial is to demonstrate the initial safety and performance of the Company’s eSVS Mesh for use as an external SVG support device during coronary artery bypass procedures. Kips Bay Medical expects to enroll up to 120 patients at eight European and four U.S. sites. Enrollments in the eMESH I trial commenced in late August 2012 at the Bern University Hospital, Bern, Switzerland. The primary safety endpoint is the rate of major adverse cardiac events (“MACE“) within 30 days of the procedure. The eSVS Mesh performance will be evaluated based upon the angiographic patency rate of the enrolled grafts, where patency is defined as less than 50% stenosis, or blockage, of the SVG at six months after surgery. As of March 1, 2013, six sites in Europe and the United States have received ethics committee approval and are actively recruiting patients. The Company expects to use the data from this study as the basis for the filing of a request for an Investigational Device Exemption (“IDE“) to perform a pivotal trial in the United States and Europe.

On November 8, 2012, Kips Bay announced that the U.S. Food and Drug Administration (“FDA“) had approved with conditions our application for an IDE to include four U.S. …read more
Source: FULL ARTICLE at DailyFinance

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Universal Power Group Reports Improved Fourth Quarter and Full Year 2012 Results

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Universal Power Group Reports Improved Fourth Quarter and Full Year 2012 Results

COPPELL, Texas–(BUSINESS WIRE)– Universal Power Group, Inc. (NYSE MKT: UPG), a Texas-based distributor and supplier of batteries and related power accessories and a third-party logistics provider, today announced significantly improved financial results for the fourth quarter and full year ended December 31, 2012. On a modest 3.8 percent increase in net sales, UPG nearly doubled income from continuing operations for the full year.

For the fourth quarter of 2012, UPG reported a much smaller net loss from continuing operations of $83,000, or $0.02 per diluted share, compared with a net loss from continuing operations of $470,000, or $0.09 per diluted share, in the fourth quarter of 2011. For the full year, UPG reported net income from continuing operations of $701,000, or $0.13 per diluted share, compared to net income from continuing operations of $368,000, or $0.07 per diluted share, in 2011.

“We made significant progress toward achieving our long-term strategic goals in 2012, even as we overcame a number of difficulties in our markets and supply base, resulting in a near doubling of income from continuing operations on a modest increase in net sales,” stated Ian Edmonds, UPG‘s President and Chief Executive Officer. “During the year, we worked through significant supply chain issues that affected a number of our China-based suppliers, and which resulted in delays in delivering products to our customers. We were also able to refocus on building our core battery and power accessory business with the sale of Monarch and the continued growth of ProTechnologies (PTI). These accomplishments, combined with the flexibility of our new credit agreement, provide a solid foundation for growth in 2013.”

Fourth Quarter and Full Year 2012 Results

Net sales for the fourth quarter decreased 4.4 percent to $19.9 million from $20.8 million in the fourth quarter of 2011. The slight reduction in net sales in the quarter was primarily the result of a decrease in net sales to ADT and its authorized dealers as well as softer sales in certain retail channels, which was offset by an increase in PTI sales.

Gross profit increased to $3.9 million in the quarter, compared with $3.8 million in the fourth quarter of 2011, due mainly to a shift in product mix toward higher margin products and improvements in UPG‘s supply chain. As a percent of net sales, gross margins improved to 19.4 percent from 18.1 percent in the prior year’s fourth …read more
Source: FULL ARTICLE at DailyFinance

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PLC Systems 2012 Financial Results Feature RenalGuard Sales up 157% for the Fourth Quarter and 96% f

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PLC Systems 2012 Financial Results Feature RenalGuard Sales up 157% for the Fourth Quarter and 96% for the Full Year

MILFORD, Mass.–(BUSINESS WIRE)– PLC Systems Inc. (OTCBB: PLCSF), a medical device company focused on innovative technologies for the cardiac and vascular markets, today reported financial results for the three and 12 months ended December 31, 2012.

Highlights of the fourth quarter of 2012 and recent weeks include:

  • Revenues were $485,000 in the fourth quarter of 2012, compared with $189,000 in the fourth quarter of 2011, an increase of 157%
  • Shipped first stocking orders to Brazil and made continued progress across Latin America to secure regulatory approvals for RenalGuard
  • Continued to broaden awareness of Contrast-Induced Nephropathy (CIN) with presence at Transcatheter Cardiovascular Therapeutics (TCT) 2012, a key medical conference
  • Raised $4.0 million in gross proceeds from an equity financing in February 2013

Management Commentary

“RenalGuard sales during the fourth quarter showed a marked improvement as we filled a large stocking order to Discomed, our distributor in Brazil,” commented Mark Tauscher, president and chief executive officer of PLC Systems. “We worked for more than a year to secure the necessary approvals from Brazilian regulatory authorities, and are making progress in our efforts to receive regulatory approvals across Latin America via our distributor Girlow USA.”

Mr. Tauscher added, “We continue to enroll patients into our pivotal trial to support a Premarket Approval filing for RenalGuard with the U.S. Food and Drug Administration to reduce the onset of CIN. We raised $4.0 million in gross proceeds in an equity offering during the first quarter of 2013. Of the estimated 7.0 million diagnostic and interventional imaging procedures performed worldwide each year that involve the use of contrast agents, we believe that 15% or approximately 1.0 million patients could be considered at-risk for CIN and thus benefit from RenalGuard.

“We are continuing work to expand the awareness of the serious damage to kidneys that may result from CIN. During the fourth quarter of 2012, we had a well-attended booth at an important medical conference, the Transcatheter Cardiovascular Therapeutics meeting in Miami. Although the meeting was held in the U.S., the majority of attendees were from countries where we have distribution, …read more
Source: FULL ARTICLE at DailyFinance

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Blueprint Capital Announces Fourth Quarter and Full Year 2012 Financial Results

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Blueprint Capital Announces Fourth Quarter and Full Year 2012 Financial Results

SEATTLE–(BUSINESS WIRE)– Blueprint Capital, LLC, the leading residential construction lender in Seattle, today announced its financial results for the fourth quarter and year ended December 31, 2012.

2012 Financial and Operational Highlights

  • Year-over-year net income growth of 76%
  • Year-over-year increase in net loans receivable of 74%
  • Raised $15.4 million in new equity capital
  • Low debt-to-equity ratio of 0.58 to 1 at December 31, 2012
  • Efficiency ratio of 22.4%
  • Portfolio mix of 93% new construction
  • Collateral mix of 96% one- to four-family residential
  • Zero non-performing loans since inception
  • Posted 34 consecutive monthly distributions to investors as of December 2012
  • Market share of 39% of new homes sold between $400,000 and $1.0 million in Seattle

“Our outstanding operating results for 2012 showcase the success of our business model as well as the benefit to our investors,” said Mark Knoll, Co-Founder and CEO of Blueprint Capital. “In our third year of operations, we retained our leadership as Seattle’s top one- to four-family construction lender, expanding our target market share to 39% in 2012 from 32% last year. We returned an average of 10.95% on members’ equity investments, and through the end of 2012, we’ve made 34 consecutive monthly preferred distributions to investors as well as declaring three special distributions.

“We believe that the most effective way to maximize value is continuing the hard work of building complementary service and finance businesses,” Knoll continued. “This integrated model benefits our customers and, coupled with our technology platform, strengthens our enterprise. Looking ahead, we plan to expand the Blueprint model to East King County with an independent investment fund. The new Eastside fund, called Blueprint Capital II, will focus on lending in Kirkland, Bellevue and Redmond.”

Operating Results

Blueprint achieved a 76% increase in net income …read more
Source: FULL ARTICLE at DailyFinance

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Asia Entertainment & Resources Ltd. Announces Fourth Quarter and Full Year 2012 Financial Results

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Asia Entertainment & Resources Ltd. Announces Fourth Quarter and Full Year 2012 Financial Results

HONG KONG–(BUSINESS WIRE)– Asia Entertainment & Resources Ltd. (“AERL” or the “Company”) (NASDAQ: AERL), which operates through its subsidiaries and related promoter companies that act as VIP room gaming promoters, today announced unaudited financial results for the three months and year ended December 31, 2012. All currency amounts are stated in United States dollars. Please refer to the Annual Report on Form 20-F that will be filed with the Securities and Exchange Commission on or about March 28, 2013 for the full audited financial statements and related disclosures for the year ended December 31, 2012.

Fourth Quarter 2012 Highlights

  • Rolling Chip Turnover (a metric used by casinos to measure the aggregate amount of players’ bets and overall volume of VIP gaming room business transacted, which is further defined below) for the three months ended December 31, 2012 was $4.1 billion, a decrease of 27% compared to $5.6 billion for the three months ended December 31, 2011
  • Net income, including the change in fair value of contingent consideration of $0.1 million related to the King’s Gaming and Bao Li Gaming acquisitions, decreased 38% to $10.1 million or $0.24 per share (fully diluted) in the fourth quarter of 2012 from $16.3 million or $0.38 per share (fully diluted) in the same period of 2011.
  • Non-GAAP income before amortization of intangible assets and the change in fair value of contingent consideration related to the acquisitions of King’s Gaming and Bao Li Gaming was $12.6 million or $0.30 (fully diluted) for the three months ended December 31, 2012 as compared to income of $19.8 million or $0.46 (fully diluted) for the three months ended December 31, 2011. The decrease in Non-GAAP income was approximately 36%.
  • In the fourth quarter 2012, the Company repurchased and retired 1,011,600 shares at an average price of $3.15 per share. The Company purchased the maximum number of shares pursuant to its then-existing share repurchase program in the first quarter of 2013 and announced a new share repurchase program to purchase up to an additional four million of its ordinary shares on the open market at prices to be determined by the Company’s management. The program commences on the second business day after today’s release of the Company’s financial results for the year ended December 31, 2012 and expires on December 31, 2013.

…read more
Source: FULL ARTICLE at DailyFinance

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DynCorp International Inc.'s Parent Reports Results for Fourth Quarter and Full Year 2012

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DynCorp International Inc.’s Parent Reports Results for Fourth Quarter and Full Year 2012

  • Fourth quarter revenue of $1,025.8 million, up 4.6% from fourth quarter 2011
  • Fourth quarter net loss attributable to Delta Tucker Holdings, Inc. of $7.7 million
  • Fourth quarter Adjusted EBITDA of $51.3 million, up 29.9% to fourth quarter 2011
  • Total backlog of $5.3 billion
  • DSO of 69 days
  • Debt reduction of $90.0 million during the year

FALLS CHURCH, Va.–(BUSINESS WIRE)– Delta Tucker Holdings, Inc. (“Holdings”), the parent of DynCorp International Inc. (“DI”, and together with Holdings, the “Company”), a global government services provider supporting U.S. national security and foreign policy objectives, today reported fourth quarter and full year 2012 financial results.

Fourth quarter revenue increased $45.1 million or 4.6% to $1,025.8 million compared to fourth quarter 2011. Net loss attributable to Holdings for the fourth quarter 2012 was $7.7 million representing a $21.0 million improvement compared to fourth quarter 2011. The Company recorded an impairment of goodwill and intangibles of $13.7 million and $6.1 million, respectively in the fourth quarter compared to a recorded impairment of goodwill of $33.8 million in the fourth quarter of 2011. Excluding the tax adjusted impacts of both of these impairments, the Company had net income attributable to Holdings of $7.6 million in fourth quarter 2012 compared to net income attributable to Holdings of $3.2 million for the same period in 2011, an increase of $4.4 million. Net loss attributable to Holdings also benefitted from improved operating profitability; lower selling, general and administrative expenses as a percentage of revenue; and reduced interest expense based on the $90 million reduction in long-term debt during the year. The Company reported Adjusted EBITDA of $51.3 million for the fourth quarter, representing 5.0% of revenue and a 29.9% increase from the same period in 2011.

For the full year 2012, the Company reported revenue of $4.0 billion, an increase of $325.1 million, or 8.7%, compared to 2011. Net loss attributable to Holdings of $8.9 million for 2012 improved $53.1 million from the net loss attributable to Holdings reported in 2011. For the full year 2012, the Company recorded impairments to goodwill and intangibles of $50.7 million compared to $110.4 million in impairments to equity method investee and goodwill during 2011. Excluding the tax adjusted …read more
Source: FULL ARTICLE at DailyFinance

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Kips Bay Medical, Inc. Fourth-Quarter and Full-Year 2012 Results Conference Call

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Kips Bay Medical, Inc. Fourth-Quarter and Full-Year 2012 Results Conference Call

MINNEAPOLIS–(BUSINESS WIRE)– Manny Villafaña, Chairman and CEO of Kips Bay Medical Inc. (NAS: KIPS) , announced today that Kips Bay will release fourth-quarter and full-year ended December 31, 2012, results on Thursday, March 28, 2013, at market close and will hold a conference call to discuss those results at 5:00 p.m. (Eastern Time) that day. There will be a question-and-answer session following prepared remarks from the Company.

To ensure that you are on the call when it begins, we suggest that you access the call approximately 5 to 10 minutes prior to the scheduled start time.

…read more
Source: FULL ARTICLE at DailyFinance

       

Date:

       

Thursday, March 28, 2013

Business, Finance, Occupation & Industry

Kips Bay Medical Announces Financial Results and Conference Call Date for Fourth Quarter and Full Ye

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Kips Bay Medical Announces Financial Results and Conference Call Date for Fourth Quarter and Full Year 2012

MINNEAPOLIS–(BUSINESS WIRE)– Manny Villafaña, Chairman and CEO of Kips Bay Medical Inc. (NAS: KIPS) announced today that Kips Bay will release operating and financial results for the fourth quarter and full year ended December 31, 2012 on Thursday, March 28, 2013 at market close and will hold a conference call to discuss those results at 5:00 P.M. (Eastern Time) that day.

The call can be accessed in the following ways:

  • In the Investors section of the Kips Bay’s website: www.KipsBayMedcial.com
  • By telephone: For both “listen-only” participants and those participants who wish to take part in the question-and-answer portion of the call, the telephone dial-in number in the U.S. is 888-679-8018. For participants outside the U.S., the dial-in number is 617-213-4845. The access code for all callers is 64188515.
  • Through an audio replay: A replay of the conference call will be available beginning at 7:00 P.M. on March 28, 2013 and ending at 11:59 P.M. on April 4, 2103. The dial-in number for U.S. participants is 888-286-8010. For participants outside the U.S., the replay dial-in number is 617-801-6888. The replay access code for all callers is 82473229.

About Kips Bay Medical

Kips Bay Medical, Inc., founded in 2007 and headquartered in Minneapolis, Minnesota, is a medical device company focused on manufacturing and commercializing its external saphenous vein support technology, or eSVS MESH for use in coronary artery bypass grafting surgery. The eSVS MESH is a nitinol mesh sleeve that, when placed over a saphenous vein graft during CABG surgery, is designed to improve the structural characteristics and long-term performance of the saphenous vein graft. Additional information about Kips Bay Medical, Inc. can be found at www.KipsBayMedical.com.

Kips Bay Medical, Inc.
Manny Villafaña, 763-235-3540
Chairman and Chief Executive Officer
Manny.Villafana@KipsBayMedical.com
or
Scott Kellen, 763-235-3540
Chief Operating Officer and Chief Financial Officer
Scott.Kellen@KipsBayMedical.com

KEYWORDS:   United States  North America  Minnesota

INDUSTRY KEYWORDS:

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Capital Trust, Inc. Reports Fourth Quarter and Full Year 2012 Highlights and Operating Results

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Capital Trust, Inc. Reports Fourth Quarter and Full Year 2012 Highlights and Operating Results

NEW YORK–(BUSINESS WIRE)– Capital Trust, Inc. (NYS: CT) today reported results for the fourth quarter and year ended December 31, 2012.

During the fourth quarter, Capital Trust successfully completed the sale of its investment management and special servicing platform to The Blackstone Group L.P. (“Blackstone”) and paid a previously announced $2.00 per share special cash dividend.

Stockholders’ equity increased to $73.4 million, or $2.43 per share, as of December 31, 2012.

Capital Trust issued a full detailed presentation of its fourth quarter and full year 2012 results which can be viewed at www.capitaltrust.com.

About Capital Trust

Capital Trust, Inc. (NYS: CT) is a real estate finance company that focuses primarily on loans and securities backed by commercial real estate assets. The company is externally managed by BREDS/CT Advisor L.L.C., a subsidiary of Blackstone and is a real estate investment trust traded on the New York Stock Exchange under the symbol “CT.” Capital Trust is headquartered in New York City. Further information is available at www.capitaltrust.com.

About Blackstone

Blackstone (NYS: BX) is one of the world’s leading investment and advisory firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, the companies it advises and the broader global economy. Blackstone does this through the commitment of its extraordinary people and flexible capital. Blackstone’s alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.Blackstone.com. Follow Blackstone on Twitter @Blackstone.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to future financial …read more
Source: FULL ARTICLE at DailyFinance

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Metabolix Announces Fourth Quarter and Full Year 2012 Financial Results

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Metabolix Announces Fourth Quarter and Full Year 2012 Financial Results

Expands Sources of Biopolymer Supply; Provides Update on Biopolymer Manufacturing

CAMBRIDGE, Mass.–(BUSINESS WIRE)– Metabolix, Inc. (NAS: MBLX) , an innovation-driven bioscience company delivering sustainable solutions to the plastics, chemicals and energy industries, today reported financial results for the three months and full year ended December 31, 2012.

“We executed well on our strategy in the fourth quarter and achieved operational milestones in each of our business areas,” said Richard P. Eno, President and Chief Executive Officer. “In biopolymers, we grew product shipments in the fourth quarter through sales to repeat and new customers. We also launched our next-generation certified compostable film product, MveraTM B5008, and began shipping I6001, a biobased polymeric modifier for PVC. We also announced today that we have signed agreements with Tianjin GreenBio Materials, a leading PHA supplier located in China, under which we will distribute Tianjin’s heat shrink film in the U.S. and Europe, and they will supply Metabolix with PHA biopolymer resins.”

Mr. Eno continued, “Under our manufacturing demonstration phase agreement, technology transfer to Antibióticos is essentially complete. However, we are aware that Antibióticos is in a process of financial restructuring, and our ability to obtain biopolymer product from Antibióticos will depend on the outcome of that restructuring. We continue to believe that the size and location of the Antibióticos facility, as well as the expertise of its technical personnel, are well suited to our current manufacturing needs. We are in the process of negotiating a commercial contract with Antibióticos so that if they achieve a satisfactory conclusion of their financial issues, we would be in position to move ahead rapidly with commercial production.”

“We will continue to build our supply chain, and through our engagement with Tianjin GreenBio as a PHA supplier, we have the potential to develop and commercialize additional PHA biopolymer products. In addition, we have initiated a feasibility study to define our priorities for a low-cost manufacturing site for long-term commercial scale production of biopolymers and potentially biobased chemicals. Our commercial strategy is to build a presence in key markets that will enable us to base-load a future low-cost plant,” said Mr. Eno.

FOURTH QUARTER AND FULL YEAR 2012 FINANCIAL OVERVIEW

Metabolix manages its finances with an emphasis on cash flow. The Company …read more
Source: FULL ARTICLE at DailyFinance

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Bacterin Announces Record 2012 Revenue of $33 Million

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Bacterin Announces Record 2012 Revenue of $33 Million

Full Year 2012 Highlights:

  • Revenue increased 9% to approximately $33.0 million in 2012, compared to approximately $30.1 million for fiscal year 2011
  • Loss from operations improved by 23% to approximately $(4.9) million, compared to approximately $(6.5) in fiscal year 2011

Fourth Quarter 2012 Highlights:

  • Revenue for the period was approximately $8.1 million, compared to the approximately $9.1 million for the fourth quarter of 2011. Excluding a $1.4 million corporate stocking order sale in the fourth quarter of 2011, revenue increased [5%] for the fourth quarter of 2012.
  • Loss from operations increased to approximately $(3.5) million, compared to a loss of approximately $(2.7) million in the fourth quarter of 2011

BELGRADE, Mont.–(BUSINESS WIRE)– Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the development of revolutionary bone graft material and coatings for medical applications, today reported its financial results for the fourth quarter and full year ended December 31, 2012. The Company reported 2012 revenues of $33.0 million, an increase of 9% from reported 2011 revenues of $30.1 million. In addition, the Company reported a net loss for 2012 of approximately $7.7 million, or ($0.18) per common share, compared to a net loss of approximately $3.0 million, or ($0.08) per common share, reported during the same period in 2011.

Revenue

Revenue for the year was a record $33.0 million, up 9% compared to approximately $30.1 million for 2011. The increase during the period was primarily attributed to the higher sales from the Company’s sales force combined with improved penetration into its existing accounts.

Revenue softened during the fourth quarter to $8.1 million, compared to $9.1 million reported for the fourth quarter of 2011. The lower results reflect not closing anticipated, larger sales to corporate entities as well as increased pricing pressure. Excluding a $1.4 million corporate stocking order sale in the fourth quarter of 2011, revenue increased 5% for the fourth quarter of 2012.

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Source: FULL ARTICLE at DailyFinance

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Easton-Bell Sports, Inc. Reports Fourth Quarter and Full Year 2012 Financial Results

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Easton-Bell Sports, Inc. Reports Fourth Quarter and Full Year 2012 Financial Results


Takes Steps to Position Company for Long-term Growth and Success


Will Host Conference Call to Discuss Financial Results and Company Outlook on March 26 at 4:00 p.m. Eastern Time

VAN NUYS, Calif.–(BUSINESS WIRE)– Easton-Bell Sports, Inc. (the “Company”), a leading designer, developer and marketer of branded sports equipment, protective products and related accessories, today announced financial results for the fourth quarter and full fiscal year ended December 29, 2012.

“Easton-Bell had a difficult fourth quarter due to challenging market conditions and certain external events such as disappointing weather during the snow season, which resulted in declines that offset our growth during the first nine months of the year. Importantly, however, our underlying businesses remain strong, which can be seen by the fact that Riddell football, Easton baseball and Bell powersports all experienced market share gains and contributed significantly to the Company’s operating cash flow in 2012,” stated Terry Lee, Executive Chairman and Chief Executive Officer of Easton-Bell.

Mr. Lee continued, “We recently made several leadership changes throughout the organization to position Easton-Bell for long-term growth and success. We also recorded certain litigation and inventory reserves in the fourth quarter of 2012. While these strategic decisions impacted our short-term financial results, we are confident that we now have the right team and plan in place to grow our business and create meaningful value in 2013 and beyond.”

Unless otherwise specified below, references to Adjusted EBITDA in this press release refer to Adjusted EBITDA, as reported for purposes of compliance with the debt covenants in our senior credit facilities. A detailed reconciliation of such Adjusted EBITDA and our Adjusted EBITDA, normalized for certain one-time reserve adjustments, to net income, which we consider to be the most closely comparable GAAP financial measure, is included in the section entitled “Reconciliation of Non-GAAP Financial Measures,” which appears at the end of this press release.


Results for the Fourth Quarter
…read more
Source: FULL ARTICLE at DailyFinance