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World Acceptance Corporation (NASDAQ: WRLD)(January 28, 2008) with volume of 984,970 Yesterday World Acceptance Corporation reported record third quarter revenues and net income per share. Net income for the third quarter of fiscal 2008 increased to $7.3 million, or $0.43 per diluted share, compared with $7.0 million, or $0.39 per diluted share, for the same quarter last year. The fiscal 2008 results included an unusual increase in income taxes of $1.5 million, or $0.09 per dilutive share. "We experienced record loan demand in the third fiscal quarter that contributed to a 22.3% jump in pre-tax income to $14.0 million, up from $11.5 million in the third quarter of last year," stated Sandy McLean, CEO of World Acceptance Corporation. "Our gross loans outstanding rose 18.3% to $663.2 million, primarily due to increased demand during our busy holiday season and the strong performance of existing loan offices. We experienced double digit loan growth in 10 of our 11 state markets and five states reported loan growth exceeding 20%. In addition, our expansion into Mexico has been a solid contributor, both in terms of loan growth and loan quality.
World Acceptance Corporation operates as a small-loan consumer finance company in the United States. The company primarily offers short-term small loans, medium-term larger loans, related credit insurance products, and ancillary products and services to individuals. It also provides income tax return preparation, electronic filing, and refund anticipation loans through a third party bank to its customers, as well as to non-loan customers. In addition, World Acceptance Corporation markets automobile club memberships to its borrowers. It also sells credit insurance to customers in connection with its loans as an agent. The company, through its subsidiary, ParaData Financial Systems, also markets computer software and related services to financial services companies. As of March 31, 2007, it operated through 732 offices in South Carolina, Georgia, Texas, Oklahoma, Louisiana, Tennessee, Illinois, Missouri, New Mexico, Kentucky, Alabama, and Mexico. World Acceptance Corporation was founded in 1962 and is headquartered in Greenville, South Carolina.
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F5 Networks, Inc. (NASDAQ: FFIV)(January 28, 2008), the global leader in Application Delivery Networking, today announced the appointment of Scott Thompson, President of PayPal, an eBay Company, to its board of directors. Mr. Thompson joined PayPal in February 2005 as Senior Vice President and Chief Technology Officer where he oversaw information technology, product development, systems architecture and risk for PayPal. From April 2000 to February 2005, he served as Executive Vice President and Global Chief Information Officer for Inovant/VISA International. From August 1997 to April 2000, he served as Chief Technology Officer and Executive Vice President, Systems Group at VISA USA. Mr. Thompson holds a B.S. in Accounting from Stonehill College.
F5 Networks, Inc. and its subsidiaries engage in marketing, selling, and servicing products that optimize the delivery of network-based applications, and availability of servers, data storage devices, and other network resources. Its products include BIG-IP products that comprise Global Traffic Management and Link Controller; FirePass appliances, which provide SSL VPN access for remote users of IP networks, and applications connected to those networks from various Web browser on any device; Application Security Manager, a Web application firewall that provides application-layer protection against generalized and targeted attacks; and WebAccelerator that speeds Web transactions by individual network object requests, connections, and end-to-end transactions from the browser through to databases. In addition, F5 Networks provides WANJet that combines WAN optimization and traffic-shaping in a single device to accelerate file transfers, email, data replication, and other applications over IP networks; Enterprise Manager, which allows customers to discover and view products in a single window, and to upgrade or modify the software; and ARX product family that comprise enterprise-class intelligent file virtualization devices, which dramatically simplify the management of file storage environments by automating data management tasks and eliminating the disruption associated with storage management operations. Further, it offers a range of services, such as consulting, training, installation, maintenance, and other technical support services. The company serves telecommunications, financial services, technology, manufacturing, transportation, and government sectors. F5 Networks markets its products and services through distributors, value-added resellers, and systems integrators. It has operations in Americas, Europe, the Middle East, Africa, Japan, and the Asia Pacific. F5 Networks was founded in 1996 and is headquartered in Seattle, Washington.
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MiddleBrook Pharmaceuticals, Inc. (NASDAQ: MBRK)(January 28, 2008), a pharmaceutical company focused on developing and commercializing novel anti-infective products, today announced that it has entered into definitive purchase agreements with institutional investors for the private placement of 8,750,000 shares of its common stock at $2.40 per share. The transaction also includes five-year warrants to purchase 3,500,000 shares of common stock at an exercise price of $3.00 per share. The transaction is expected to raise $21 million in gross proceeds.
MiddleBrook Pharmaceuticals, Inc. engages in the development and commercialization of anti-infective drug products for the treatment of infectious diseases. It develops a proprietary, once-a-day pulsatile delivery technology called PULSYS. The company's pulsatile product candidates include Amoxicillin PULSYS for adults and adolescents with pharyngitis and/or tonsillitis; and Keflex PULSYS product candidate, based on the antibiotic cephalexin, which is in Phase I clinical trials for skin and skin structure infections. In addition, MiddleBrook Pharmaceuticals sells its Keflex products in both capsule and powder formulations for the treatment of skin and skin structure infections, and upper respiratory tract infections primarily through pharmaceutical distributors and wholesalers to physicians, hospitals, and pharmacies in the United States. It has a collaboration agreement with Par Pharmaceutical for the distribution and marketing of the company's generic formulation of Abbott's Biaxin XL (extended release clarithromycin). The company was founded in 1999. It was formerly known as Advancis Pharmaceutical Corporation and changed its name to MiddleBrook Pharmaceuticals, Inc. in June 2007. MiddleBrook Pharmaceuticals is headquartered in Germantown, Maryland.
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IndyMac Bancorp, Inc. (NYSE: IMB)(January 28, 2008) said Moody's Investors Service has agreed to its request to withdraw its corporate ratings, a move the large U.S. mortgage lender said will save money and reduce investor confusion about its financial health. In a Wednesday memo posted on its corporate blog (www.theimbreport.com), IndyMac said because it operates through its federal thrift unit, its credit ratings do not affect the company's ability to gather deposits or draw from the Federal Home Loan Banks, its main liquidity sources.
IndyMac Bancorp, Inc. operates as the holding company for IndyMac Bank, F.S.B., a thrift/mortgage bank, which provides mortgage products and services in the United States. The company operates in two segments, Mortgage Banking and Thrift. The Mortgage Banking segment offers adjustable-rate mortgages (ARMs), intermediate term fixed-rate loans, pay option ARMs, fixed-rate mortgages, conforming and non-conforming loans, construction-to-permanent loans, subprime mortgages, home equity lines of credits, and reverse mortgages. This segment originates or purchases mortgage loans through its relationships with mortgage brokers, mortgage bankers, and financial institutions, as well as offers mortgages and reverse mortgages to consumers through direct mails, Internet leads, online advertising, affinity relationships, retail banking branches, real estate professionals, and realtors. The Thrift segment offers mortgage loans and intermediate term fixed-rate loans; construction financing for single-family residences or lots loans; builder construction financing facilities for residential subdivision loans; home equity lines of credit; and mortgage-backed securities. This segment also provides short-term revolving warehouse lending facilities to small-to-medium size mortgage bankers and brokers to finance mortgages loans. In addition, the company facilitates the acquisition, development, and improvement of single-family homes through electronic mortgage information and transaction system platform that automates underwriting, risk-based pricing, and rate locking via the Internet at the point of sale. It serves homebuilders, commercial builders, mortgage brokers, and bankers for the purposes of either building residential homes or financing the purchase of homes. As of December 31, 2006, the bank operated through a network of 29 branches in southern California. IndyMac Bancorp was founded in 1985 and is headquartered in Pasadena, California.
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