Tag Archives: Reports Fourth Quarter

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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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Stratus Properties Inc. Reports Fourth-Quarter and Year Ended December 31, 2012 Results

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Stratus Properties Inc. Reports Fourth-Quarter and Year Ended December 31, 2012 Results

AUSTIN, Texas–(BUSINESS WIRE)– Stratus Properties Inc. (NAS: STRS) :

HIGHLIGHTS

  • As of December 31, 2012, sales of 118 of the 159 condominium units at the W Austin Hotel & Residences project had closed for $126.7 million (an average of $1.1 million per unit), including nine units for $10.5 million (an average of $1.2 million per unit) in fourth-quarter 2012 and 40 units for $37.7 million (an average of $0.9 million per unit) for the year 2012, compared with nine units for $12.4 million (an average of $1.4 million per unit) in fourth-quarter 2011 and 78 units for $89.0 million (an average of $1.1 million per unit) for the year 2011. As of March 15, 2013, Stratus sold nine units in 2013 for $11.0 million and seven of the remaining units were under contract.
  • Lot sales totaled eight lots for $2.5 million in fourth-quarter 2012 and 24 lots for $8.0 million during 2012, compared with five lots for $0.7 million in fourth-quarter 2011 and 23 lots for $2.7 million during 2011. As of March 15, 2013, Stratus sold six lots in 2013 for $1.9 million and had 14 lots under contract. In addition, Stratus sold a 16 acre tract at Lantana for $2.1 million in March 2013.
  • Revenue per available room at the W Austin Hotel was $267 during fourth-quarter 2012 and $232 during the year 2012, compared with $194 during fourth-quarter 2011 and $184 during the year 2011.
  • ACL Live hosted 54 events during fourth-quarter 2012 and 193 events during the year 2012, compared with 40 events during fourth-quarter 2011 and 151 events during the year 2011.
  • Construction of the final two buildings at the Parkside Village project is expected to be completed in late 2013 and as of December 31, 2012, occupancy of the completed 77,641 square feet was 89 percent. Of the two remaining buildings under development, the 7,500-square-foot building is fully pre-leased, and leasing activities are ongoing for the 4,500-square-foot building.
  • Total Stratus debt was $137.0 million at December 31, 2012, compared with $158.5 million at December 31, 2011. Effective December 31, 2012, Stratus amended its Comerica credit facility, …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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DGSE Companies, Inc. Reports Fourth Quarter and 2012 Full Year Results

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DGSE Companies, Inc. Reports Fourth Quarter and 2012 Full Year Results

DALLAS–(BUSINESS WIRE)– DGSE Companies, Inc. (NYSE MKT: DGSE) (the “Company”) announced today the filing of its Consolidated Financial Statements for the quarter and year ended December 31, 2012.

James Vierling, Chief Executive Officer and Chairman of the Board stated, “2012 was an important year for DGSE Companies, Inc., where we executed on several key initiatives to regain integrity in our financial disclosures and refocus our efforts on our operational objectives and growth opportunities. We are pleased to announce that income from continuing operations, net of one-time expenses, in the fourth quarter of 2012 was $763,716. This means that in the second half of the year our income from continuing operations, net of one-time expenses, exceeded $1.7 million. During 2012, particular emphasis was placed on improving our financial controls, processes and procedures and I am extremely pleased with the work our new CFO, Brett Burford, and his team have done. We are now confident in our ability to accurately and credibly report our financial condition to current and prospective shareholders.”

Vierling continued, “With most of the distractions and expenses of last year behind us, our expectation is that profitability in 2013 will be significantly improved versus 2012.”

Income from continuing operations, net of one-time expenses, is considered a Non-GAAP Measure, and is reconciled to income from continuing operations in the accompanying table.

2012 Summary

  • Income from continuing operations in second half of year, net of one-time expenses exceeded $1.7 million
  • Restructured entire senior management and accounting group
  • Completed major restatement of the Company’s historical financials
  • Significantly improved the Company’s financial controls, processes and procedures
  • Engaged new independent auditors
  • Regained active trading status with the NYSE MKT exchange
  • Integrated the Southern Bullion Trading (“SBT”) entity into the Company
  • Restructured and increased the Company’s credit line
  • Opened 8 new retail locations while closing 3 historically underperforming locations
  • Converted SBT locations from focusing only on scrap buying activity, to focusing …read more
    Source: FULL ARTICLE at DailyFinance
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Saratoga Resources, Inc. Reports Fourth Quarter and 2012 Financial Results

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Saratoga Resources, Inc. Reports Fourth Quarter and 2012 Financial Results

HOUSTON–(BUSINESS WIRE)– Saratoga Resources, Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced financial and operating results for the quarter and year-ended December 31, 2012.

Key Financial Results

Year-Ended 2012

  • Production of 1,116,300 barrels of oil equivalent, or 3,058 barrels of oil equivalent per day, for 2012, up 18% from 2011;
  • Oil and gas revenues of $82.5 million for 2012 compared to $76.2 million for 2011;
  • Discretionary cash flow of $29.3 million, or $1.00 per fully diluted share, for 2012 compared to discretionary cash flow of $30.5 million, or $1.37 per fully diluted share, for 2011;
  • EBITDAX of $45.7 million for 2012 compared to $47.9 million for 2011;
  • Operating income of $12.3 million, or $0.42 per fully diluted share, for 2012 compared to operating income of $25.3 million, or $1.13 per fully diluted share, for 2011; and
  • Net loss of $(3.7) million, or $(0.13) per fully diluted share, for 2012 compared to net income of $20.8 million, or $0.93 per fully diluted share, for 2011.

Fourth Quarter

  • Oil and gas revenues of $22.9 million for fourth quarter 2012 compared to $22.7 million in the fourth quarter 2011;
  • Discretionary cash flow of $9.7 million, or $0.31 per fully diluted share, for the fourth quarter of 2012 compared to discretionary cash flow of $7.5 million, or $0.28 per fully diluted share, in the fourth quarter of 2011;
  • EBITDAX of $13.8 million for the fourth quarter of 2012 compared to $13.0 million in the fourth quarter of 2011; and
  • Net loss of $(2.9) million, or $(0.09) per fully diluted share, for the fourth quarter of 2012 compared to net income of $10.7 million, or $0.40 per fully diluted share, in the fourth quarter of …read more
    Source: FULL ARTICLE at DailyFinance
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Cyalume Technologies Holdings, Inc. Reports Fourth Quarter and Fiscal Year 2012 Financial Results

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Cyalume Technologies Holdings, Inc. Reports Fourth Quarter and Fiscal Year 2012 Financial Results

2012 Revenues Increased 11.4% Over 2011; Further Improvement Expected in 2013

Schedules Conference Call for Thursday, April 4, 2013 at 10:00am ET

WEST SPRINGFIELD, Mass.–(BUSINESS WIRE)– Cyalume Technologies Holdings, Inc. (OTCBB: CYLU) (“the Company” or “Cyalume”) today reported its financial results for the fourth quarter and year ended December 31, 2012.

…read more
Source: FULL ARTICLE at DailyFinance

                         

$ in thousands

(except per share data)
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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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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

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Steel Partners Holdings L.P. Reports Fourth Quarter and Year End 2012 Financial Results

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Steel Partners Holdings L.P. Reports Fourth Quarter and Year End 2012 Financial Results

NEW YORK–(BUSINESS WIRE)– Steel Partners Holdings L.P. (NYS: SPLP) (“SPLP” or the “Company”), a global diversified holding company, today announced operating results for the fourth quarter and year ended December 31, 2012. They are summarized in the following paragraphs. For a full discussion of the operating results, please read the Company’s Form 10-K, which can be found at www.steelpartners.com.

SPLP reported revenue of $174.9 million for the quarter, as compared to $156.4 million for the same period of 2011. Income before taxes and equity method investments was $8.8 million in the fourth quarter of 2012, as compared to $6.0 million in 2011. Net income attributable to the Company’s common unitholders for the fourth quarter of 2012 was $1.8 million, or $0.06 per diluted common unit, as compared to $22.8 million, or $0.81 per diluted common unit, for the same period in 2011. In the fourth quarter of 2011, the Company recorded a tax benefit of $63,865, of which $35,426 was attributable to common unitholders, or $1.22 per diluted common unit, relating to the release of valuation reserves on deferred tax assets.

For the year ended December 31, 2012 SPLP reported revenues of $761.5 million, as compared to $679.4 million in 2011. Income before taxes and equity method investments was $46.1 million for the year, as compared to $43.0 million in 2011. Net income attributable to the Company’s common unitholders for the year was $41.0 million, or $1.38 per diluted common unit, as compared to $35.5 million, or $0.99 per diluted common unit, for 2011.


Financial Summary ($000s)

…read more
Source: FULL ARTICLE at DailyFinance

  Three Months Ended
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Dialogic Inc. Reports Fourth Quarter and Full Year 2012 Financial Results

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Dialogic Inc. Reports Fourth Quarter and Full Year 2012 Financial Results

Company elevates from Transition to Transformation

MILPITAS, Calif.–(BUSINESS WIRE)– Dialogic Inc. (NAS: DLGC) , the Network Fuel™ company, today announced fourth quarter and full year financial results for the period ending December 31, 2012.

Fourth Quarter 2012 Highlights

  • Total revenue was $37.9 million
  • Gross Margin was 60.6%
  • Net Loss was $4.7 million or $0.32 per share
  • Cash on hand was $6.5 million

Full Year 2012 Highlights

  • Total revenue was $160.0 million
  • Gross Margin was 57.3%
  • Net Loss was $37.8 million or $4.04 per share

GAAP Results

Revenue for the fourth quarter of 2012 was $37.9 million compared to $42.4 million in the third quarter of 2012 and $50.0 million in the fourth quarter of 2011. Gross Margin for the fourth quarter of 2012 was 60.6% compared to 61.8% in the third quarter of 2012 and 58.1% in the fourth quarter of 2011. Operating Expense for the fourth quarter of 2012 was $28.5 million compared to $26.4 million in the third quarter of 2012 and $33.9 million in the fourth quarter of 2011. Net Loss for the fourth quarter of 2012 was $4.7 million, or $0.32 per share compared to $0.3 million, or $0.03 per share, in the third quarter of 2012 and $9.2 million, or $1.46 per share, in the fourth quarter of 2011. Cash on hand for the fourth quarter of 2012 was $6.5 million compared to $2.7 million in the third quarter of 2012 and $10.4 million in the fourth quarter of 2011.

Revenue for full year 2012 was $160.0 million compared to $198.1 million in 2011. Gross Margin for 2012 …read more
Source: FULL ARTICLE at DailyFinance

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Gramercy Capital Corp. Reports Fourth Quarter and Full Year 2012 Financial Results

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Gramercy Capital Corp. Reports Fourth Quarter and Full Year 2012 Financial Results

NEW YORK–(BUSINESS WIRE)– Gramercy Capital Corp. (NYS: GKK) :

Announces Exit from Commercial Real Estate Finance Business

Announces Name Change to Gramercy Property Trust


Financing and Investing Highlights

  • For the quarter, net income (loss) to common stockholders from continuing operations was $(5.0) million, or $(0.09) per common share, an increase from $(11.4) million, or $(0.22) per common share, for the same quarter in the previous year. For the full year, net income (loss) to common stockholders from continuing operations was $(25.5) million, or $(0.49) per common share, as compared to $(28.1) million, or $(0.55) per common share, in the previous year.
  • The Company generated negative funds from operations, or FFO, of $126.8 million for the fourth quarter of 2012, a decrease of $302.3 million from FFO of $175.5 million generated in the same quarter of the previous year. On a per common share basis, FFO was negative $2.35 for the fourth quarter of 2012 as compared to FFO of $3.42 in the same quarter of the previous year. For the full year, FFO decreased to negative $157.8 million, or $3.04 per common share, from $395.3 million in the previous year, or $7.75 per common share. FFO includes a negative $149.3 million, or $2.69 per common share, for the quarter ended December 31, 2012 and a negative $169.2 million, or $2.95 per common share, for the year ended December 31, 2012, from discontinued operations related to the Company’s exit of the commercial real estate finance business.
  • On March 18, 2013, the Company completed the sale to transfer the collateral management and sub-special servicing agreements for its three Collateralized Debt Obligations, or CDOs, to CWCapital Investments LLC, or CWCapital, for approximately $9.9 million, less certain adjustments and closing costs.
  • Following the Company’s exit from the commercial real estate finance business, the Company will change its name to Gramercy Property Trust Inc. to better reflect the Company’s …read more
    Source: FULL ARTICLE at DailyFinance
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Intersections Inc. Reports Fourth Quarter and Full Year 2012 Earnings and Issues Full Year 2013 Guid

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Intersections Inc. Reports Fourth Quarter and Full Year 2012 Earnings and Issues Full Year 2013 Guidance

CHANTILLY, Va.–(BUSINESS WIRE)– Intersections Inc. (NASDAQ: INTX) today announced financial results for the quarter and year ended December 31, 2012. Revenue for the year ended December 31, 2012 was $349.2 million, as compared to $373.0 million for the year ended December 31, 2011. Consolidated adjusted EBITDA before share related compensation and non-cash asset impairment charges for the year ended December 31, 2012 was $58.7 million, compared to $52.1 million for the year ended December 31, 2011. Net income for the year ended December 31, 2012 was $19.7 million, as compared to $18.6 million for the year ended December 31, 2011. Cash flow provided by operations for the year ended December 31, 2012 was $48.9 million. Diluted earnings per share increased to $1.04 for the year ended December 31, 2012, from $0.97 for year ended December 31, 2011.

As of December 31, 2012, we had a cash balance of $25.6 million and $30.0 million of available borrowings under our revolving credit facility, which we recently amended to extend the maturity date to November 2015. During the year ended December 31, 2012, we paid down the $20.0 million balance on our revolving credit facility. In addition, on March 15, 2013, we paid an ordinary cash quarterly cash dividend of $0.20 per share of common stock, which represents our 11th consecutive ordinary quarterly dividend. Based on the closing price on March 15, 2013 of $10.85 per share, our quarterly cash dividend represents an effective annual dividend yield of 7.4%.

Michael Stanfield, Chairman and Chief Executive Officer of Intersections commented, “We are pleased with the strength of our results in 2012, and remain confident in the value and quality of our products despite the significant reduction in marketing by our traditional financial services industry clients. As a result of changes in the financial services marketplace, we are increasing our focus on non-financial institution clients, consumer direct marketing, and diversified business investments going forward and believe this will lead to a stronger, more diversified Intersections in the years to come.”

Fourth Quarter 2012 Financial Highlights:

  • Total subscribers decreased to approximately 4.5 million as of December 31, 2012 from 4.9 million as of December 31, 2011.
  • Total consolidated revenue for the fourth quarter of 2012 was $84.4 million compared to $94.1 million for the fourth quarter of 2011.

    • …read more
    Source: FULL ARTICLE at DailyFinance

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STR Holdings, Inc. Reports Fourth Quarter and Full-Year 2012 Results

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STR Holdings, Inc. Reports Fourth Quarter and Full–Year 2012 Results

ENFIELD, Conn.–(BUSINESS WIRE)– STR Holdings, Inc. (NYS: STRI) today announced its financial results for the fourth quarter and full-year ended December 31, 2012.

Fourth Quarter 2012 Financial Summary:

  • Net sales of $16.1 million
  • Diluted GAAP loss per share from continuing operations of $(2.97); Diluted non-GAAP loss per share from continuing operations of $(0.09)
  • Free cash flow of $5.1 million
  • Finished the quarter with $82.0 million in cash and no debt
  • Recorded a $172.9 million non-cash long-lived asset impairment

2012 Financial Summary:

  • Net sales of $95.3 million
  • Diluted GAAP loss per share from continuing operations of $(5.12); Diluted non-GAAP loss per share from continuing operations of $(0.05)
  • Free cash flow of $23.2 million

Financial Results

Net sales for the quarter ended December 31, 2012 were $16.1 million. This represents a decline of 30% sequentially and 56% from Q4 2011. On a sequential basis, the decline was driven primarily by a volume decline of approximately 25% and a 7% decline in average sale price (“ASP“). On a year-over-year basis, volume declined by approximately 43% and ASP declined by approximately 23%.

“In the fourth quarter of 2012, solar industry dynamics remained very challenging, particularly in Western markets, and our sequential volume reflects this,” said Robert S. Yorgensen, STR’s President and Chief Executive Officer. “We continue to execute our strategic objectives of reducing our cost structure and developing and commercializing innovative products. The launch of our next-generation encapsulant is progressing well with many prospects proceeding to certification and we have received commercial orders for this product from two new customers in China and one of our existing customers in Europe.”

Gross profit for the fourth quarter of 2012 was $(6.0) …read more
Source: FULL ARTICLE at DailyFinance

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Synta Provides Company Updates and Reports Fourth Quarter and Year-End 2012 Financial Results

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Synta Provides Company Updates and Reports Fourth Quarter and Year-End 2012 Financial Results

— Expects mid-year overall survival results from the GALAXY-1 trial for ganetespib in second-line non-small cell lung cancer –

— Expects enrollment of the pivotal GALAXY-2 Phase 3 trial to commence this month —

— Announces key addition to executive management team –

LEXINGTON, Mass.–(BUSINESS WIRE)– Synta Pharmaceuticals Corp. (NAS: SNTA) today provided an update on recent progress with its clinical programs and reported financial results for the fourth quarter and year ended December 31, 2012.

“Over the past year, we have made strong progress in the development of ganetespib, our Hsp90 inhibitor,” said Dr. Safi Bahcall, President and CEO of Synta. “Interim results presented last year from our GALAXY-1 trial evaluating ganetespib as second-line treatment of non-small cell lung cancer showed encouraging clinical activity. We look forward to presenting more mature results from the 240-patient target population of this trial mid-year, and enrolling the first patient in our GALAXY-2 Phase 3 trial before the end of this month.”

“Ganetespib represents a distinct cancer treatment paradigm – targeting one protein, the chaperone, which simultaneously destabilizes a broad range of oncogenic pathways,” said Dr. Sumant Ramachandra, President of Research and Development. “This approach is differentiated: existing cancer therapies are generally either non-specific, for example anti-mitotic chemotherapies, or target one particular signaling protein involved in a limited number of cancer signaling pathways, for example tyrosine kinase inhibitors.”

“The clinical evidence to date, together with the preclinical results that show treatment with ganetespib changes the broader biology of cancer cells, reducing tumor aggressiveness, are encouraging,” continued Dr. Ramachandra. “Results expected later this year will be important in confirming the clinical activity and establishing the potential for ganetespib beyond lung cancer.”

The safety profile of ganetespib has been favorable in over 700 patients treated to date in more than 20 clinical trials. Transient, mild or moderate diarrhea has been the most commonly reported adverse event.

Key accomplishments in 2012

1. At the 2012 Congress of the European Society for Medical Oncology (ESMO), investigators …read more
Source: FULL ARTICLE at DailyFinance

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The Buckle, Inc. Reports Fourth Quarter and Fiscal Year 2012 Net Income

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The Buckle, Inc. Reports Fourth Quarter and Fiscal Year 2012 Net Income

KEARNEY, Neb.–(BUSINESS WIRE)– The Buckle, Inc. (NYS: BKE) announced today that net income for the fiscal quarter ended February 2, 2013 was $61.4 million, or $1.29 per share ($1.28 per share on a diluted basis). Net income for the fiscal year February 2, 2013 was $164.3 million, or $3.47 per share ($3.44 per share on a diluted basis).

Net sales for the 14-week fiscal quarter ended February 2, 2013 increased 7.0 percent to $360.6 million from net sales of $337.1 million for the prior year 13-week fiscal quarter ended January 28, 2012. Comparable store net sales for the 14-week period ended February 2, 2013 were flat in comparison to comparable store net sales for the prior year 14-week period ended February 4, 2012. Online sales (which are not included in comparable store sales) increased 5.4 percent to $29.1 million for the 14-week period ended February 2, 2013, compared to net sales of $27.6 million for the 13-week period ended January 28, 2012.

Net sales for the 53-week fiscal year ended February 2, 2013 increased 5.7 percent to $1.124 billion from net sales of $1.063 billion for the 52-week fiscal year ended January 28, 2012. Comparable store net sales for the 53-week period ended February 2, 2013 increased 2.1 percent from comparable store net sales for the prior year 53-week period ended February 4, 2012. Online sales (which are not included in comparable store sales) increased 8.4 percent to $84.5 million for the 53-week period ended February 2, 2013, compared to net sales of $78.0 million for the 52-week period ended January 28, 2012.

Net income for the fourth quarter of fiscal 2012 was $61.4 million, or $1.29 per share ($1.28 per share on a diluted basis), compared with $56.1 million, or $1.19 per share ($1.18 per share on a diluted basis) for the fourth quarter of fiscal 2011.

Net income for the fiscal year ended February 2, 2013 was $164.3 million, or $3.47 per share ($3.44 per share on a diluted basis), compared with $151.5 million, or $3.23 per share ($3.20 per share on a diluted basis) for the fiscal year ended January 28, 2012.

Management will hold a conference call at 9:30 a.m. EDT today to discuss fourth quarter results. To participate in the call, please call (800) 288-9626 and reference the conference …read more
Source: FULL ARTICLE at DailyFinance

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Sucampo Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2012 Financial and Operating Resu

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Sucampo Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2012 Financial and Operating Results

Fourth Quarter Net Income Reported of $13.5 million; Full-Year Net Income Reported of $4.8 million;

Fourth Quarter Total Revenues Increased 145% to $34.9 million; Full-Year Revenues Increased 49% to $81.5 million;

Company to Host Conference Call Today at 5:00 pm Eastern

BETHESDA, Md.–(BUSINESS WIRE)– Sucampo Pharmaceuticals, Inc. (“Sucampo”) (NAS: SCMP) , a global pharmaceutical company, today reported its consolidated financial results for the quarter and full year ending December 31, 2012.

For the fourth quarter of 2012, total revenue grew approximately 145%, to $34.9 million from $14.2 million for the same period in 2011. Net sales of AMITIZA® (lubiprostone), as reported to us by our partner increased 31% to $74.6 million for the fourth quarter of 2012, compared to $56.8 million in the same period of 2011. During the fourth quarter of 2012, Sucampo reported product sales revenue and cost of goods sold primarily representing sales of AMITIZA to Abbott Japan Co., Ltd. (Abbott) in Japan. Sucampo reported $5.0 million of product sales revenue and $3.0 million of cost of goods sold compared to nil in 2011, respectively. Sucampo also received a $15.0 million milestone payment from Abbott associated with the initial sale of AMITIZA in Japan.

“This was a tremendous year of achievement for Sucampo,” said Ryuji Ueno, M.D., Ph.D., Ph.D., Chairman, Chief Executive Officer, and Chief Scientific Officer of Sucampo. “With the approval of the sNDA for RESCULA®, we now have two FDA approved products marketed in the United States. As the first-ever prescription medicine approved in Japan for chronic constipation, we launched AMITIZA in Japan and received a $15 million milestone payment related to the first commercial sale of AMITIZA. We look forward to upcoming catalysts for 2013, including the continued rollout of RESCULA in the U.S., the PDUFA date for opioid-induced constipation for AMITIZA in the U.S., the launch of AMITIZA in the U.K. and Switzerland, and the continued development of our pipeline.”

Sucampo reported a net income of $13.5 million, or $0.32 per diluted share, for the fourth quarter of 2012 compared to a net income of $2.7 million, or …read more
Source: FULL ARTICLE at DailyFinance

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Inuvo, Inc. Reports Fourth Quarter 2012 Revenue of $16.2 Million, a 145% Increase from 2011, and Ful

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Inuvo, Inc. Reports Fourth Quarter 2012 Revenue of $16.2 Million, a 145% Increase from 2011, and Full Year 2012 Revenue of $53.4 Million, a 49% Increase from 2011

Hosts Conference Call Today

CONWAY, Ark.–(BUSINESS WIRE)– Inuvo, Inc. (NYSE MKT: INUV) (the “Company” or “Inuvo”), an Internet marketing and technology company that develops consumer applications and delivers targeted advertisements onto websites reaching desktop and mobile, today announced its financial results for the fourth quarter and full year ended December 31, 2012.

“The Company had a strong fourth quarter and fiscal year in 2012,” stated Richard Howe, Chairman and Chief Executive Officer of Inuvo. “Not only did revenue and Adjusted EBITDA increased sequentially and year over year, but the business itself grew 26% organically between Q2 and Q4 following the Vertro acquisition in Q1. We expect these positive trends to continue into 2013, and we anticipate Q1 2013 revenue to range between $16.2 and $16.5 million.”

In its efforts to become profitable, the Company recently announced the relocation of its headquarters to Conway, Arkansas funded by a $1.75 million dollar grant from the Arkansas Economic Development Commission that, depending on the final terms of exiting the Company’s New York City office lease, is expected to yield monthly operating expense savings of approximately $80 to $120 thousand starting in Q2 2013. Additionally, the Company continues to expand its Network into mobile and is taking its local.alot.com site, a complement to its ALOT AppBar, Global through an expansion into Europe starting in Q2 2013.


Fourth Quarter 2012 Highlights

  • Net revenue of $16.2 million, increased $9.6 million or 145% compared to the fourth quarter of 2011, and an increase of 5% compared to the third quarter 2012.
  • Gross profit of $8.8 million, increased 366% compared to $1.9 million in the fourth quarter of 2011.
  • Adjusted EBITDA, a non-GAAP measure, increased to $1.0 million compared to negative $226 thousand in the fourth quarter of 2011.
  • Net revenue for the Network segment was $9.5 million and gross profit was $2.8 million, an increase of 44% and 50% …read more
    Source: FULL ARTICLE at DailyFinance
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Genie Energy Ltd. Reports Fourth Quarter and Year End 2012 Results

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Genie Energy Ltd. Reports Fourth Quarter and Year End 2012 Results

NEWARK, N.J.–(BUSINESS WIRE)– Genie Energy Ltd. (NYSE: GNE, GNEPRA) reported EBITDA and income from operations of $1.9 million and net income attributable to common stockholders of $1.8 million for the fourth quarter, the three months ended December 31, 2012. For the full year 2012, Genie Energy reported EBITDA of $3.2 million and income from operations of $3.0 million. The full year net loss attributable to common stockholders was $3.5 million.

Genie Energy‘s Board of Directors has declared a quarterly dividend of $0.1594 per share of Series 2012-A Preferred Stock (NYS: GNEPRA) for the first quarter of its 2013 fiscal year, the three months ending March 31, 2013. The quarterly dividend will be paid on May 15, 2013 to shareholders of record as of the close of business on May 8, 2013. The ex-dividend date is May 6, 2013. The tax treatment of the dividend will be announced on the investor relations page of the Genie Energy website prior to the payment date. On February 15, 2013 Genie distributed $0.1317 per preferred share which will be treated as a return of capital and not as a dividend for tax purposes.


RECENT AND 4Q12 HIGHLIGHTS

  • Consolidated revenues (+$21.8 million), gross profit (+$7.7 million) and EBITDA (+$4.8 million) increased strongly year over year on higher gas and electric consumption
  • IDT Energy increased EBITDA by $6.4 million compared to 4Q11, to $7.9 million
  • In early March, 2013, AMSO, LLC initiated start up of its oil shale pilot test in Colorado.
  • On February 20, 2013, the government of Israel awarded a Genie Energy subsidiary an exclusive petroleum exploration license covering 396.5 square kilometers in the Southern portion of the Golan Heights. The Company believes that the license area may contain significant quantities of conventional oil and gas in relatively tight formations
  • Also in Israel, the Supreme Court rejected both pending legal challenges to IEI‘s oil shale exploration license during 4Q12

    • …read more
    Source: FULL ARTICLE at DailyFinance

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Signature Group Holdings, Inc. Reports Fourth Quarter and Full Year 2012 Results

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Signature Group Holdings, Inc. Reports Fourth Quarter and Full Year 2012 Results

Company Posts Operating Profit for 4Q12 of $0.9 Million and Net Income of $0.3 Million

Industrial Supply Continues Strong Sales and EBITDA Growth

SHERMAN OAKS, Calif.–(BUSINESS WIRE)– Signature Group Holdings, Inc. (OTCQX: SGGH), a diversified enterprise with current principal activities in industrial supply and special situations finance, today announced financial results for the fourth quarter and full year ended December 31, 2012.

The Company’s net income for the fourth quarter of 2012 was $0.3 million, or breakeven on a per share basis, an increase of $4.0 million from the $3.7 million net loss, or ($0.03) per share, reported for the fourth quarter of 2011, and a sequential improvement of $2.9 million from the $2.6 million net loss, or $(0.02) per share, reported in the third quarter of 2012. The Company’s net loss for the full year 2012 was $7.5 million, or ($0.06) per share, an improvement of $5.3 million from 2011. The reduction in net loss and overall improvement in results for 2012 was due to the continued strong growth and financial performance of Industrial Supply, certain one-time gains generated in Special Situations, operating cost reductions, and the resolution of litigation and a proxy contest, which drove an increase in legal and other professional fees in prior periods.

“2012 ended on a positive note with a profitable fourth quarter thanks to continued strong performance in Industrial Supply and our ability to opportunistically realize gains in Special Situations. Importantly, our efforts to contain operating costs are also starting to have a measurable impact,” stated Craig Noell, CEO of Signature Group Holdings. “While we made progress in 2012, our number one objective continues to be generating sustainable profitability and growth through value-enhancing acquisitions, as well as leveraging our unique tax assets. Along with this focus on acquisitions, we plan to continue to foster the ongoing growth of Industrial Supply in 2013.”

Quarterly Results

Operating revenues from continuing operations rose 19.3% to $11.2 million in the fourth quarter of 2012, compared to $9.4 million in the fourth quarter of 2011, primarily due to a 13.1% increase in Industrial Supply operating revenues and $0.8 million of additional income realized from Special Situations. Operating profit in …read more
Source: FULL ARTICLE at DailyFinance