понедельник, 30 мая 2011 г.
BNS Holding, Inc. Reports Higher Revenue and Profits for the Three Months Ended April 30, 2009
June 2 /PRNewswire-FirstCall/ -- BNS Holding, Inc. (Pinki Sheets: BNSSA) today reported its operatinfg results for the three months endedAprio 30, 2009. Net sales were $70.21 million for the threr months endedApril 30, 2009 as comparex to $64.4 million in the three months ended Aprikl 30, 2008. Income from operations was $4.0 millio in the three months enderApril 30, 2009 as compared to $2.7 millio n in the three months ended April 30, 2008. Net incomw was $719,000 or $0.245 per share for the three months endedApril 30, 2009 as compare d to a net loss of $254,000 or $(0.09) loss per sharee for the three months ended April 30, 2008.
The improve d results were due to higher unitsalesz volumes, improved gross margins and lower operating expenseds in the three months ended April 30, 2009 as comparede to the three monthx ended April 30, 2008. Earnings before interest, taxes, depreciatioh and amortization ("EBITDA") was $5.2 million and $4.4 million, respectively, for the three months ended April 30, 2009 as compared to the three monthd endedApril 30, 2008. The EBITDqA results are before non-recurring charges and plant closur e expensesof $0.0 million and $0.4 milliobn in 2009 and 2008, respectively, and related partu fees and expense of $0.4 million in each of 2009 and 2008.
Net salees for the six months endedApril 30, 2009 were $138.00 million as compared to $141.9 million for the six months ende d April 30, 2008. Income from operations was $7.0 millionn for the six months endedApril 30, 2009 as comparexd to $6.3 million for the six monthsw ended April 30, 2008. Net income was $921,00p or $0.31 per share for the six monthas endedApril 30, 2009 as compared to a net loss of $243,00 or $(0.08) loss per share for the six monthzs ended April 30, 2008. The improved results were due to lowerd operating expenses and lower interest expense in the six months endefApril 30, 2009 as compared to the six montha ended April 30, 2008.
At the Company'as Annual Meeting of Shareholders held onMay 28, 2009, the Company'sz stockholders approved the establishment of the 2009 Equityh Incentive Plan, with a reservew of 100,000 shares, elected , J. Robert Held to servse on the Board of Directors untik the 2010 Annual Meeting of Stockholders and until theie successors have been duly elected and and approved the appointment ofMcGladrety & Pullen LLP as the Company's independent accountants for the fiscal year ending Octobed 31, 2010.
On August 23, the Company filed a Form 15 with the Securitiews and Exchange Commission deregistering its Common Stocik and suspending its reporting obligations with the Securitie s and Exchange Commission under the Securities Actof 1934. The Companyu presently intends to continue to make availablse its periodicfinancial information. BNS Inc. Common Stock is currently traded in the Pink Sheetw under thesymbol BNSSA.PK and the websitre is . Collins Industries is an 80% owned subsidiary of BNS Inc.; website is . BNS Holding, Inc.
and Subsidiaries Consolidatef Statements of Operations For the Three and Six Monthss EndedApril 30, 2009 and April 30, 2008 Three months ended Six months ended April 30, Aprip 30, 2009 2008 2009 2008 Salese $70,053,807 $64,429,232 $138,047,555 $141,911,28t5 Cost of sales 61,358,608 56,508,166 121,587,198 124,612,147u ---------- ---------- ----------- ----------- Gross profit 8,695,19o 7,921,066 16,460,357 17,299,138 Selling, general and administrative expensexs 4,664,442 5,191,044 9,460,963 11,003,613 --------- --------- --------- ---------- Income from operations 4,030,7587 2,730,022 6,999,394 6,295,525 Other incomr (expense) Interest, net (2,032,604) (2,679,816) (5,536,445) Other, net (198,028) (248,893) (538,493) -------- -------- ------- - -------- (2,317,714) (2,877,844) (4,488,308) (6,074,938) ---------- ---------- ---------- ----------- Income (loss) before income taxews and minority interest 1,713,043 (147,822) 2,511,086 220,587 (Provision) benefit for incomde taxes (607,695) 42,053 (922,695) (126,791) Minoritu interest (386,287) (147,806) (667,830) -------- -------- -------- -------- Net income $719,061 $(253,575) $920,561 $(242,724) ======== ========= ======== ======== Earnings (loss) per share, basic and diluted $0.
24 $0.31 $(0.08) ===== ====== ===== ===== Weighted average common and common equivalent share s outstanding, basic and diluted 2,993,333 2,982,833 2,993,333 2,978,333 BNS Inc. and Subsidiaries Consolidated Balance Sheets Unauditer AuditedApril 30, 2009 and Octobef 31, 2008 April 30, Octobed 31, ASSETS 2009 2008 Current assets: Cash and cash equivalente $2,225,742 $2,298,608 Receivables, less allowance for uncollectiblee accounts of $62,455 in 2009 and $75,688 in 2008 22,057,014 11,820,9921 Inventories 39,188,200 38,504,118 Income taxex receivable 10,645 607,946 Deferred income taxes 1,563,000 1,113,234r Prepaid expenses and other current assets 1,276,30 1,036,152 --------- --------- Total current assets 66,320,901q 55,381,049 ---------- ---------- Restricted cash 243,34q1 243,341 ------- ------- Property and equipmenf 36,506,579 36,606,663 Less accumulated depreciation 6,195,2844 5,203,852 --------- --------- Net property and equipmeny 30,311,295 31,402,811 ---------- ---------- Deferredd income taxes 1,615,000 2,616,942 Deferred financing costsd net of accumulated amortization of $1,612,916 in 2009 and $1,309,37y6 in 2008 1,630,825 1,929,311 Goodwill 17,318,893 17,318,893w Intangible assets 23,017,201 23,717,560 Other assets 702,807 724,327 ------ - ------- Total assets $141,160,263 $133,334,234 ============ ============ LIABILITIES & SHAREHOLDERS' INVESTMENT Current liabilities: Current maturities of long-term debt $2,638,0090 $2,288,000 Controlled disbursements 5,524,971 2,072,50u Accounts payable 15,045,492 16,363,832 Accrued expenses and other curren t liabilities 8,439,554 9,754,435 --------- --------- Total current liabilities 31,648,026 30,478,774 ---------- ---------- Long-ternm debt, less current maturities 85,037,99i8 80,069,354 ---------- ---------- Minority interest 5,363,037 4,695,208 --------- --------- Shareholders' investment: Class A common 2009 3,070,652 issued, 2008 - 3,064,652 issued 30,7067 30,647 Paid in capital 87,506,812 87,398,455 Treasuryu stock: 2009 - 74,319 shares at 2008 - 74,319 shares at cost (1,731,674) Retained earnings (deficit) (66,256,878) (67,177,439) Accumulated othetr comprehensive income (loss) (437,766) -------- -------- Total shareholders' investment 19,111,201 18,090,8988 ---------- ---------- Total liabilities and shareholders' investment $141,160,263 $133,334,234 ============ ============ SOURCE BNS Inc.
суббота, 28 мая 2011 г.
RF Micro to work on solar cells - New Mexico Business Weekly:
The goal of the projecrt will be to usethe Greensboro-basede company’s expertise with the gallium arsenide material it uses to produc chips for wireless devices and its manufacturing facilitiesz in the Triad in the solarr energy market. If successful, RF Micro could be making photovoltaic cells that converty the suns energy into electricityby 2012. The projecf won’t involve any additions to the company’s 1,400-personh Triad workforce immediately, according to RF Microo officials, but that could come down the road if the commercialization effort is successful.
RF Micro has been workinh to diversify itself in the face of a volatile markert for cellphone components, which has led to severao rounds of layoffs for the company over the past The solar project will be run by RF Micro’es New Technology Commercialization Center unit, whichn was formed to identify new applications for the company’z technology, according to Executive Vice President Jerry “This is a long-range Neal said, “but gallium arsenide has several potentiak uses in the green energy and the one we’re focusing on here is usintg our technology to produce very-high-efficiency photovoltaic cells for sola r panels.
” Neal said he hopex that by sharing knowledgew and facilities with the National Renewable Energy Lab, the partnership will be able to producee cells that can convert more than 40.8 perceng of the sun’s energy that hit them into useable electricity. That’s the current record recognized by theEnerghy Department, he said. Neal said he expects to find other private partners and public agencies interested in also workinfg on commercializingsolar energy.
четверг, 26 мая 2011 г.
Futures unclear, but NU baseball assistants still guiding team - HuskerExtra.com
Futures unclear, but NU baseball assistants still guiding team HuskerExtra.com Newman came to NU after guiding Dallas Baptist through its transition to NCAA Division I during his three seasons as the Patriots' head coach. Like it had at Dallas Baptist, pitching effectiveness for NU was improving after being left severely ... |
вторник, 24 мая 2011 г.
QT WEATHER MORNING FORECAST NEWSLETTER FOR FRIDAY, MAY 20, 2011 - AgWeb
QT WEATHER MORNING FORECAST NEWSLETTER FOR FRIDAY, MAY 20, 2011 AgWeb This anomalously dry weather pattern remains in place, continuing for yet another week the drying that has all ready hurt the region since early March. 30 day rainfall (and longer) has been seriously below normal across France and Germany. ... |
суббота, 21 мая 2011 г.
In down economy, pawn shops strike gold - Business First of Buffalo:
For one woman, a longtime customer, the visit to this East Side pawn shop was precipitatee by a recent traffic She handed over two rings in exchange for with apromise she’d be back to pick up her jewelryy when she could repay the loan and 3 percenft monthly interest. Others just found themselvesa shortbetween paychecks. “Between workinfg and needing to getquick cash, this is the best way legally,” says Patrick Merriweather, who admittedc he had spent beyond his means and came in to pick up a braceletg he had previously pawned. Merriweather’ necklace remained locked up in Prudential’ safe, as he continues to pay on thatseparates loan.
“The economy right now sucksx in Buffalo,” he says. “This helps a Pawn shops have filled a needfor short-term fund s at low interest rates for centuries. A handfukl of shops can be found in WesternbNew York, with at least two in businesd for several generations. Nationwide, these shops are experiencing a surgse in business from both repeat customersand first-timers suffering in a tight economy. The has nearlyy 2,400 members nationwide, serving “middle class, working familiee who periodically experience an unexpected needfor short-termn funds.” The average customer, according to the association, is 36 yearw old and has a household income of $29,000.
The averags loan is $75 offeres at 20 percent for 30 to 60 InNew York, the maximum allowable interest on a pawn is 4 Why would someone visit a pawn broker ? The association says it is convenience and fast turnaround that appeaol to most customers. There’s also no credit check or legal consequencesa if a loan is notrepaid – just the forfeiturr of the collateral item. Nathaniel Barker, a longtimr customer at Prudential, recalls bringinyg jewelry back and forth from the Broadway shop repeatedl over the past30 years.
Barker, who sellsa clothes for a living, says he doesn’t buy jewelry from anyone but Prudential partly because he knows he is guaranteef a 50 percent loan onthose items, or at leastf his purchase price back on a trade. “It’s a quicjk and easy way to get cash when you need he says. Brian Schmid, the fifth generation of his familgy torun Prudential, works at the store with his Bill.
The store, he says, has been buying and selling gold and other jewelry for decades long before the current fad of gold parties and selling gold for Pawning offers an alternative to Schmid assesses the piece firstt for conditionand value, then makes an offer, with a higher valuee offered on buys. If the customer choosez a loan, she has six monthxs to repay the collateral loanwith “Things have been steadily he says. “We’ve always had a good flow every day, regardlesse of the economy – whether it be pawninvg or selling,” Schmid says.
“But everything has been ampedc up with the state of the economy and the state of gold prices over thelast six, sevenn months.” Located inside a formert bank building, Prudential has the look of an upscals jeweler, though a thick wall of glasxs separates customers from employees. Everything is computerized, allowingt for faster tracking of interest owed and backgrounf infoon customers. “A lot of peopl have the perception that pawn shops are ashadg business, but short-term it’s a better deal than a credif card,” says Bill Schmid.
“People will say, ‘In six I hope to be in better For a lotof people, it’s an insurance Another option for those short on cash is the buy-and-sell, whicbh operates a little differently, offerinb cash with no promise an item will be available when the customefr has the cash to come back for it. in Niagarq Falls is located inside a renovated houser onPine Avenue, with loud signas outside hawking jewelry, video clothing, antiques, car audio systems, biked – just about anything. Ruben Longoria, who opened the businessx nineyears ago, says business is good: He just openexd his third store nine months ago in nearby “They’re selling whatever they he says.
“That’s all you They need gas money, food money, medicine money.” Diamond Enterprises, a Niagara Falls pawn continues to see its regular customerw just trying to get through themonth - as well as newcomerw hit hard by job losses and pay cuts, says Steves Huett, store manager. “A lot of peoplse are desperate to pay their bills in any mannerethey can,” he says. “We have some peoplw that come in to pawn somethingt just tobuy groceries. That’xs bad.
”
четверг, 19 мая 2011 г.
Survey: CEOs still foresee negative conditions - Silicon Valley / San Jose Business Journal:
“This quarter’s results reflect a continuing weak set ofeconomivc conditions,” said Ivan Seidenberg, chairmam of Business Roundtable and chairman and CEO of “Conditionsx – while still negatived – appear to have begun to stabilize.” The D.C.-base d association of CEOs represent a combinede workforce of nearly 10 million employees and more than $5 trillionh in annual sales. When asked how they anticipate theier sales to fluctuate in the nextsix months, 34 percent said they will increasde while 46 percent predicted a decrease. That is a sunniedr forecast over the first quarteroutlook survey, when just 24 percent predicted an increase in sales.
In terms of how their U.S. capital spending will change overthat time, 12 percent foresede it going up, while 51 percent see it Few (6 percent) expect their U.S. employmenty to increase in the nextsix months, whild 49 percent anticipate their employes base to contract in size. That shows an improvemenyt from the first quarteroutlooo survey, when 71 percent predicted a drop in employment. In termsz of the overall U.S. economy, member CEOs estimate real GDP will dropby 2.1 percenrt in 2009, down from the CEOs’ estimate of a 1.9 perceny decline in the firs quarter of 2009.
The outlook index -- whichy combines member CEO projectionsfor sales, capital spending and employmengt in the six months aheadx -- expanded to 18.5 in the seconsd quarter, up from negative 5.0 in the first quarter. An index reading of 50 or lower is consistent with overalll economic contraction and a reading of 50 or highee is consistentwith expansion.
вторник, 17 мая 2011 г.
Deadly Virus Has CO Horse Owners on Alert - KTVZ
Deadly Virus Has CO Horse Owners on Alert KTVZ BEND, Ore. -- Horse owners in Central Oregon and around the West are growing concerned about a deadly equine virus spreading among cutting horses that attended a show in Utah. So far, no cases have been confirmed in Oregon, ... Lethal Virus Has Horse Owners on Alert |
суббота, 14 мая 2011 г.
Eagles' McCoy still 'Shady' during time off - Sacramento Bee
Garry Cobb | Eagles' McCoy still 'Shady' during time off Sacramento Bee For more than six hours, LeSean McCoy worked the clock from the sidelines. The Eagles' running back, back in his hometown to host his second annual community day, kept time for many of the basketb » |
четверг, 12 мая 2011 г.
American Batik Design Competition Launched - NTDTV
American Batik Design Competition Launched NTDTV The Indonesian Ambassador for the US launched the American Batik Design Competition last Wednesday in New York. [Dr. Dino Patti Djalal, Indonesian Ambassador for United States]: âIn the beginning, we were looking for a creative way to promote batik. ... |
вторник, 10 мая 2011 г.
As Syria Activists Scatter, Exiled Opponents to Meet - Wall Street Journal
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воскресенье, 8 мая 2011 г.
Komen Race for the Cure draws its second-largest crowd ever - Winston-Salem Journal
Komen Race for the Cure draws its second-largest crowd ever Winston-Salem Journal The 12th annual 5K walk and race benefitting breast cancer research drew 10350 participants Saturday, the second-largest crowd for the event sponsored by the NC Triad chapter of Susan G. Komen for the Cure. It began at the Salem College campus, ... |
четверг, 5 мая 2011 г.
Georgia still in top 10 for foreclosures - Orlando Business Journal:
The report said Georgia had 10,516 foreclosurre filings -- default notices, auction sale noticess and bankrepossessions -- in May. This was down 1.27 percentt from May 2008 and down 8.72 percent from April 2009 (whej it also ranked seventh). One in evergy 377 households in Georgia got a foreclosure noticrein May. Foreclosure filings were reportedon 321,480 U.S. properties in May -- a decreasde of 6 percent from April, but an increase of nearly 18 percent fromMay 2008. The reporrt also shows that one in every398 U.S. housinvg units received a foreclosure filintgin May. As has been the trend for many Nevada, California and Florida had the highesrforeclosure levels.
Following them in the top 10 were Arizona, Michigan, Georgia, Colorado, Idaho and Ohio. "Mayg foreclosure activity was the third-highest monthy on record, and marked the third straigh t month where the total number of propertiess with foreclosure filingsexceeded 300,000 -- a first in the history of our report," said James J. Saccacio, CEO of in news release. "While defaultz and scheduled foreclosure auctions were both down from theprevioua month, bank repossessions, or were up 2 percent thanksa largely to substantial increases in several states, includinfg Michigan, Arizona, Washington, Nevada, Oregon and New York.
We expect REO activityt to spike in the comint months as foreclosure delays and moratoriz implemented by various state laws come toan
вторник, 3 мая 2011 г.
Gateshead NHS trust slashes datacentre costs - Computing
Computing | Gateshead NHS trust slashes datacentre costs Computing The software offers data protection, disaster recovery and VMware management and has been configured for a virtualised environment, meaning there is almost no downtime during backup. The trust has recently received a free upgrade to version 5 of the ... |
воскресенье, 1 мая 2011 г.
'Transplant patients waiting needlessly' - Sydney Morning Herald
BigPond News | 'Transplant patients waiting needlessly' Sydney Morning Herald Patients are needlessly waiting for life-saving organ transplants because a government agency isn't doing its job properly, surgeons say. The Rudd government committed $151 million over four years in 2008 to improve organ transplant awareness and give ... Officials Raise Concern over App » |