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STOCK MARKETING INC PRESENTS : (OTCBB: NPHC) Nutra Pharma Corp., (NASDAQ: PANL) Universal Display Corp., (NASDAQ: TLVT) Telvent GIT S.A., (NASDAQ: AUTC) AutoChina International Ltd., (OTCBB: GNOLF) Genoil Inc., (OTCBB: AXAHY) AXA
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(OTCBB: NPHC - Nutra Pharma Corp.)
LATEST NEWS!!
Nutra Pharma Announces First Manufacturing Release of Nyloxin Rx, a Prescription Treatment for Chronic Pain
Nutra Pharma Has Announced That It Has Completed the First Production Run of Its Prescription Pain Drug, Nyloxin Rx, and Has Successfully Released It for Initial Marketing-Related Distribution
CORAL SPRINGS, FL, May 25, 2010 -- Nutra Pharma Corp. (OTCBB: NPHC), a biotechnology company that is developing treatments for Adrenomyeloneuropathy (AMN), HIV and Multiple Sclerosis (MS), has announced today that it has completed manufacturing the first batch of its prescription pain reliever, Nyloxin Rx, and has successfully released it for initial marketing-related distribution within the United States.
"We are pleased to be announcing the rollout of the Company's first prescription drug, Nyloxin Rx," commented Rik J Deitsch, Chairman and CEO of Nutra Pharma Corporation. "As we move forward with the launch of Nyloxin Rx, we continue to seek partnerships with established U.S. and international distributors to assist us with ongoing marketing to physician offices, hospitals and medical clinics," he added.
Nyloxin Rx is a prescription pain reliever clinically proven to treat Stage 3 (severe) chronic pain. Unlike Stage 2 pain, which interferes with both work and sleep, Nyloxin Rx is aimed at treating the most severe pain that inhibits one's ability to fully function.
The drug, which was developed by Nutra Pharma's wholly-owned drug discovery subsidiary, ReceptoPharm, will be available as an oral spray for treating angina pectoris, angina faucium, back pain, headaches, joint pain, migraines, neck pain, neuralgia, ovarian pain, and painful periods and as a topical gel for treating joint pain and pain associated with repetitive stress and arthritis.
Currently, physicians can request samples of Nyloxin Rx by visiting the Healthcare Providers section of the Nyloxin website: http://www.Nyloxin.com/healthcare_providers.
About Nutra Pharma Corp. Nutra Pharma Corporation operates as a biotechnology company specializing in the acquisition, licensing, and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune, and infectious diseases.
The company, through its subsidiaries, carries out basic drug discovery research and clinical development, and also seeks strategic licensing partnerships to reduce the risks associated with the drug development process.
Currently, Nutra Pharma offers several drug products for sale for the treatment of pain: Cobroxin, the first over-the-counter (OTC) pain reliever clinically proven to treat moderate to severe (Stage 2) chronic pain, and Nyloxin Rx, the only non-narcotic and non-addictive treatment for severe (Stage 3) pain. Both Cobroxin and Nyloxin were developed by Nutra Pharma's wholly-owned drug discovery subsidiary, ReceptoPharm.
In addition to manufacturing Cobroxin and Nyloxin, ReceptoPharm is also developing proprietary therapeutic protein products primarily for the prevention and treatment of viral and neurological diseases, including Multiple Sclerosis (MS), Adrenomyeloneuropathy (AMN), and Human Immunodeficiency Virus (HIV), and pain in humans. Outside of its role as the drug discovery arm for Nutra Pharma, ReceptoPharm provides contract research services through its ISO class 5 and GMP certified facilities.
The company's wholly-owned medical devices subsidiary, Designer Diagnostics, engages in the research and development of diagnostic test kits designed to be used for the rapid identification of infectious diseases, such as Nontuberculous Mycobacteria (NTM).
Nutra Pharma continues to identify intellectual property and companies in the biotechnology arena as potential acquisition candidates.
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(NASDAQ: PANL - Universal Display Corp.)
LATEST NEWS!!
Universal Display Presents Novel PHOLED Display Architecture with Potential to Accelerate Commercial Introduction of All-Phosphorescent Active-Matrix OLEDs with Enhanced Power Efficiency and Extended Lifetime
Company's novel four sub-pixel design demonstrated in collaboration with Professor Jin Jang of Kyung Hee University and Samsung Mobile Display at SID 2010
EWING, N.J., May 26, 2010 -- Universal Display Corporation (NASDAQ: PANL), enabling energy-efficient displays and lighting with its UniversalPHOLED(TM) technology and materials, will announce today an all-phosphorescent AMOLED display architecture that uses a novel four-color sub-pixel design. The new pixel format adds a light blue sub-pixel to the conventional red-green-blue (RGB) configuration. The introduction of a light blue sub-pixel can significantly extend the operational lifetime of an OLED display and reduce the display's power consumption by as much as 33%, as compared to an RGB OLED display using a fluorescent blue sub-pixel.
Dr. Woo-Young So, Research Scientist at Universal Display, will present this new design in a paper titled, "Power Efficient AMOLED Display with Novel Four Sub-Pixel Architecture and Driving Scheme," at 3:50 p.m. PDT today in Room 618-620 at the 2010 Society for Information Display (SID) International Symposium, Seminar & Exhibition. The conference is being held at the Washington State Convention Center in Seattle, WA from May 23 through May 28, 2010.
Universal Display's novel design reduces the power consumption and extends AMOLED display lifetime by relying on the more energy-efficient, longer-lived light blue sub-pixel to satisfy a significant portion of the blue-emission requirement, as compared to a conventional RGB pixel format using phosphorescent red and green sub-pixels and a fluorescent blue sub-pixel. By adding a light-blue sub-pixel, the stress on the deep-blue sub-pixel is also lessened.
To illustrate the pixel architecture, the company, in collaboration with Professor Jin Jang of Kyung Hee University and Samsung Mobile Display, demonstrated the four sub-pixel architecture in a 2.5-inch, all-phosphorescent AMOLED display.
"Our team has demonstrated a very innovative display pixel architecture to leverage the power efficiency advantage of phosphorescence," said Steven V. Abramson, President and Chief Executive Officer of Universal Display. "This can extend operational lifetime and has the potential to accelerate and expand the commercialization of all-phosphorescent OLED displays to meet increasing consumer demand for displays with low power consumption and enhanced performance." The company's proprietary PHOLED technology and materials offer up to four times the efficiency of conventional OLED technology, and can be found in a variety of cell phones, multi-media players and other display devices already on the market. As a leading OLED technology developer, Universal Display provides comprehensive PHOLED solutions through technology licensing, UniversalPHOLED material sales, and technology transfer and support services to the world's leading display and lighting manufacturers.
To see how Universal Display Corporation is changing the face of the display and lighting industries, please visit the Company at www.universaldisplay.com.
About Universal Display Corporation Universal Display Corporation (Nasdaq: PANL) is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 1,000 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED(TM) phosphorescent OLED technology, that can enable the development of low power and eco-friendly displays and white lighting. The company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.
Based in Ewing, New Jersey, Universal Display works and partners with a network of world-class organizations, including Princeton University, the University of Southern California, the University of Michigan, and PPG Industries, Inc. The company has also established relationships with companies such as AU Optronics Corporation, Chi Mei EL Corporation, DuPont Displays, Inc., Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Samsung Mobile Display Co, Ltd., Seiko Epson Corporation, Sony Corporation, Showa Denko K.K., and Tohoku Pioneer Corporation. To learn more about Universal Display, please visit www.universaldisplay.com.
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(NASDAQ: TLVT - Telvent GIT S.A.)
LATEST NEWS!!
Telvent Announces First Quarter 2010 Financial Results
A Stable Start to Achieve Targets for the Year
ROCKVILLE, Md., May 26, 2010 -- Telvent GIT, S.A. (Nasdaq: TLVT), the IT company for a sustainable and secure world, today announced its unaudited financial results for the first quarter ended March 31, 2010.
Manuel Sanchez, Telvent's Chairman and Chief Executive Officer, said, "I am pleased to see that we are gaining traction again, supported by the level of bookings obtained in the first quarter. We are working in a very challenging market environment, but we believe we have the skills, diversification and solutions offering that will allow us to continue improving as the year progresses." He added, "We are encouraged by the resilience of our business in most of the regions that we serve, where we have signed several significant new projects with strategic customers, totaling more than EURO 204 million in the first quarter. This is allowing us to grow our backlog to over EURO 956 million, which provides us good visibility for the remainder of the year. We have also seen outstanding growth in our pipeline of identified opportunities in the Smart Grid space, with initiatives already materializing, in particular in North America." "Finally, although our business in Europe has remained strong through the first quarter, we will be carefully watching as the economic situation in the area develops," he ended.
First Quarter 2010 Financial Highlights Revenues for the first quarter of 2010 were EURO 165.1 million, a decrease of 1.4% from the same period of last year, when excluding the EURO 9.5 million in revenues from the Abengoa internal IT outsourcing business that the Company sold effective January 1, 2010, and a foreign exchange impact of EURO0.9 million.
Gross margin was 39.2% in the first quarter of 2010, compared to 38.7% in the first quarter of 2009. The increase in gross margins was mostly due to higher contribution of our Software as a Service business.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the first quarter of 2010 were EURO 24.0 million, or 14.5% of total revenues for the period, compared to EURO 27.8 million and 15.6% in the first quarter of 2009.
Operating margin for the first quarter of 2010 was 12.1%, compared to 13.6% in the first quarter of 2009.
Net income for the first quarter of 2010 was EURO 10.1 million, compared to EURO10.6 million reported in the first quarter of 2009. Both basic and diluted earnings per share (EPS) for the first quarter of 2010 were EURO 0.30, compared to EURO 0.31 in the first quarter of 2009. Basic and diluted EPS were determined by using a weighted average number of shares outstanding of 33,723,197 and 34,094,159, respectively, for the first quarter of 2010. The weighted average number of shares issued and outstanding for the first quarter of 2009 was 34,094,159.
New order bookings, or new contracts signed, during the first quarter of 2010 totaled EURO 204.3 million, compared to EURO 215.4 million for the first quarter of 2009, which excludes the new order bookings from the Abengoa IT outsourcing business that the Company sold effective January 1, 2010.
Backlog, representing the portion of signed contracts for which performance is pending, was EURO 956.1 million as of March 31, 2010, reflecting a 16.7% organic increase over the EURO 819.0 million in backlog at the end of March 2009.
Pipeline, measured as management's estimates of real opportunities for the following twelve to eighteen months, is approximately EURO 3.4 billion as of March 31, 2010.
As of March 31, 2010, cash and cash equivalents were EURO 80.4 million and total debt, including EURO 168.4 million of net credit line due to related parties, amounted to EURO 458.2 million, resulting in a net debt position of EURO 377.8 million. As of December 31, 2009, the Company's net debt position, excluding the Abengoa internal IT outsourcing business sold effective January 1, 2010, was EURO 307.8 million, representing a change in net debt position of EURO (70.0) million.
For the first quarter of 2010, cash used in operating activities (excluding interest paid) was EURO 47.3 million and net cash was also used by EURO 7.1 million from other assets (mainly restricted cash and credit line receivable with related parties). Cash was also used to pay interest of EURO 4.1 million; in acquisitions for a total of EURO 3.4 million and to pay recurrent CAPEX of EURO 6.4 million. In addition, the Company received EURO 4.0 million from the sale of the Abengoa internal IT outsourcing business sold effective January 1, 2010, and increased its net debt position by EURO 5.7 million due to the change in accounting principle related to the joint venture consolidation.
Business Highlights Energy Some of the most relevant projects signed during the first quarter of 2010 were as follows: -- Contract with BC Hydro, a Canadian utility, to supply the Telvent Distribution Management System (DMS). Telvent's integrated, scalable Distribution Management System (DMS) solution will enhance BC Hydro's ability to provide safe, secure and reliable energy supply to its 1.8million customers particularly during major storms or unusual events. As part of the project, Telvent's DMS and OASyS DNA SCADA System will be integrated as a single solution to allow BC Hydro to enable new system devices as well as to optimize the distribution grid to reduce system losses.
-- Project to supply our Distribution Management System (DMS) components for an advanced network control system planned by Hungarian power distribution companies EMASZ Halozati Kft Miskolc and ELMU Halozati Kft Budapest. This new network control system will serve nearly half of Hungary's electricity consumers. EMASZ and ELMU will implement advanced Telvent EMS and DMS network applications and functionalities to help coordinate all network facilities. We believe EMASZ and ELMU will improve operation performances and the quality of power supply with the new solution.
-- Contract with Gas Natural Mexico S.A. de C.V. to implement a turnkey technology solution to control its distribution network of approximately 1,250,000 end users in 38 municipalities. Telvent will use its SCADA system support, guaranteeing a smooth transition without non-planned outages. We believe a secure and reliable supply in a growing energy consumption market will be further strengthened by system redundancies, along with maintenance service.
-- Contract with Pemex, the national energy company in Mexico, to install our supervision, control and data acquisition system OASyS SCADA to manage seven multiproduct pipelines of the National Oil Pipeline Network of Pemex Refinacion. Telvent will optimize the operation by utilizing the current infrastructure operating with the Telvent OASyS SCADA system that today is managing the 12,400 km natural gas and LPG (Liquid Petroleum Gas) pipeline of Pemex Gas y Petroquimica Basica. The new Telvent system is expected to yield greater security in the operation of facilities, mitigating risks for personnel, local communities, and the environment.
-- Contract with PetroChina to upgrade and extend the information systems of the Qing-Tie Oil Pipeline (Daqing-Tieling) project managed by PetroChina. Telvent will upgrade critical Qing-Tie Pipeline infrastructure and nine existing control stations. Additionally, Telvent will control a new parallel pipeline system extension that is 216 Km long with three pump stations. We believe the Daqing-Tieling contract allows a stable presence in PetroChina and provides good opportunity for further development of projects in oil pipeline field, and strengthens the relationship between Telvent and our customer, PetroChina.
Finally, in February 2010, our DMS solution received the 2009 SmartGrid.TMCnet.com Product of the Year Award from Technology Marketing Corporation (TMC) and Intelligent Communications Partners. Telvent DMS advanced analytics engine allows utilities to optimize their electric distribution grid and make the most out of existing assets. This robust, versatile toolset delivers complete functionality for planning, operation and analysis of the electric distribution system. This award proves our commitment to quality and excellence while addressing real needs in the marketplace.
Transportation During the first quarter of 2010 some of the significant contracts signed were: -- Contract with DERSA, in Brazil, for the supply, installation and maintenance of Sao Paulo loop highways (Marginals Tiete y Pinheiros).
Contract includes supply of all the ITS systems and system maintenance services. This project is expected to strengthen Telvent's position in the Brazilian market, as technological leader in intelligent transportation systems.
-- Contract with the Moroccan cities of Rabat and Sale to implement the SmartMobility(TM) Light Rail solution for the new light rail system that will connect the two cities. The SmartMobility(TM) system will allow Rabat authorities to be able to effectively coordinate interaction between the new light rail network and city traffic, with the capability to give priority at any time to light rail over private transportation in cases where it is considered to be suitable. This will help minimize light rail system delays and undue standstills, thereby enhancing city road safety levels.
-- Extension of the contract with the Department of Transport of New York, in the United States, to support the mobility operations in the center of New York (JTMC of New York) for one additional year. Telvent's staff shall provide its expertise in mobility management to departments of transport and traffic police of New York, in order to optimize the efficiency of the Centre, as well as the improvement of road safety in the city.
Environment During the first quarter of 2010, significant contracts signed were: -- Contract with the Central Arizona Water Conservation District (CAWCD) in the U.S., to supply an upgraded OASyS DNA SCADA solution for the Central Arizona Project. The Central Arizona Project (CAP) water system, operated and maintained by CAWCD, is designed to distribute approximately 1.5 million acre-feet of Colorado River water per year to Pima, Pinal and Maricopa counties. The water is transported via a 336-mile long system of aqueducts, tunnels, pumping plants and pipelines. The system to be delivered will include multiple distributed control centers, advanced alarming features and an integrated OSI Soft PI Historian.
-- Contract with Agencia Andaluza del Agua, Junta de Andalucia, in Spain, to maintain the Automated Hydrological Information System for the Basin of the Guadalquivir River. This contract proves the long-standing relationship between Telvent and the Andalucian Government.
-- Contract with the Agencia Estatal de Meteorologia, Aemet, in Spain, to extend the contract of maintenance of their meteorological systems in airports. This project is of strategic importance for Telvent, because it consolidates its leadership position in meteorological systems in airports in Spain.
-- Contract with United Airlines where Telvent DTN will support up to 122 worldwide airport locations by providing them access to the MxVision AviationSentry Online(R) Airport Operations Edition professional package. The system includes site-specific forecasts - accessible either online or via a mobile device, real-time lightning information, patented alerts, plus access to our team of experienced meteorologists 24/7 via the online consulting forum. This system will allow the airline to provide a safe setting for ramp personnel, aircraft fueling and/or baggage handling.
Agriculture 100% of the revenues in our Agriculture segment is generated in North America and principally arise from the sale of critical agricultural business information and real-time market data solutions to top farm producers and agribusiness. This segment, which is over 90% subscription based, had revenue subscription retention rates that approximate 90% for the quarter.
We have over 561,000 subscribers to our business information in our Agriculture segment, including 37,000 of the largest farm producers who are paying for premium content, 14,700 originators and local/regional agribusiness users, including the top elevators, ethanol plants and feedlots, and over 3,900 agribusiness users using our risk management platform. Our largest customers include Bunge, FC Stone, John Deere, Con Agra and Cargill along with the majority of the top corn and soybean producers in the United States. During the first quarter of 2010, transactions involving more than 13 million bushels of grain were transacted through our grains trading portal between our 1,020 agribusiness portal locations and our 22,660 registered portal producers.
Global Services During the first quarter of 2010, significant contracts signed were: -- Contract with Agencia EFE, one of the leading national and international news agencies, for implementation of the "Multimedia Publishing System" (SIEM in its Spanish acronym), which consists of the creation of a single system for producing multimedia news content that integrates all of the information generated by the Agencia EFE. Telvent will be in charge of this project, including Alfresco technology application consulting, analysis and development. A pilot experience will be implemented in Madrid over the course of 2010, and in 2011 the project is expected to be rolled out worldwide.
Use of Non-GAAP Financial Information To supplement our consolidated financial statements presented in accordance with U.S. GAAP, we use certain non-GAAP measures, including non-GAAP net income attributable to the parent company and EPS. Non-GAAP net income attributable to the parent company and EPS are adjusted from GAAP-based results to exclude certain costs and expenses that we believe are not indicative of our core operating results. Non-GAAP results are one of the primary indicators that our management uses for evaluating historical results and for planning and forecasting future periods. We believe that non-GAAP results provide consistency in our financial reporting, which enhances our investors' understanding of our current financial performance as well as our future prospects. Non-GAAP results should be viewed in addition to, and not in lieu of, GAAP results. Reconciliation of each Non-GAAP measure presented to the most directly comparable GAAP measure is provided in this release immediately following the unaudited consolidated financial statements.
The Company provides non-GAAP measures to give investors figures that are most comparable to those used by Management in their evaluation of historical results for planning and forecasting purposes. The adjustments represent the removal of GAAP impacts that Management is not able to forecast (such as JVs and mark-to-market of derivatives and hedged items), that generally have not impacted the Company's cash position in the period (such as stock compensation plan expenses and mark to market of derivatives and hedged items), or that Management believes are extraordinary in nature and thus should be removed or added back from the GAAP results for comparative purposes. Below is an explanation of the nature of each of these adjustments and how Management uses the resulting non-GAAP measures in its management of the business: - Joint ventures: The Company, during its normal course of business, and as is customary practice in its industry, participates in joint venture agreements in Spain to bid for and carry on some of its projects in the traffic, energy and environmental segments. These relationships are commonly referred to as "Union Temporal de Empresas" (UTEs). Such UTEs are established for commercial reasons, at the request of the client, and because they are sometimes required when bidding for government related work. A UTE (which is considered a "temporary consortium" under Spanish law) is a form of business cooperation used within the scope of public hiring, with no legal personality, that is established for a certain period of time, definite or indefinite, to carry out work, service or supply in Spain. The terms governing the functioning of a UTE are freely agreed to by the participants provided they are set out in the Articles of Association and conform to applicable law. UTEs are operated through a management committee, comprised of equal representation from each of the venture partners, which makes decisions about the joint venture's activities that have a significant effect on its success.
As a result of the adoption of FIN 46R, Consolidation of Variable Interest Entities, in January 2004, these joint ventures were determined to be variable interest entities, as they have no equity, and transfer restrictions in the agreements were deem to establish a de facto agency relationship between all venture partners. For this reason, and applying quantitative criteria to determine which partner is the most closely associated with the joint venture, the Company consolidated, up to December 31, 2009, the results of such UTEs for GAAP purposes, and excluded, for non-GAAP purposes, the revenues and cost of revenues attributable to other venture partners.
Effective January 1, 2010, the Company has applied SFAS 167 which introduces the concept of joint control. The adoption of this Statement has resulted in the deconsolidation of most of our joint venture arrangements, and these investments are now carried under the equity method for GAAP purposes. For non-GAAP purposes, the Company includes in its revenues and cost of revenues its portion of revenues and margins associated with the work it is carrying out through the UTE.
The disclosed non-GAAP revenues, cost of revenues and gross margins are the closest indicators to the measures Management uses in its management of the business. - Mark to market of derivatives and hedged items: The Company enters into numerous forward exchange contracts to protect against fluctuations in foreign currency exchange rates on long-term projects and anticipated future transactions. In addition, the Company enters into interest rate caps in order to manage interest rate risk on certain long-term variable rate financing arrangements. These transactions have been designated as cash flow hedges and are recorded at fair value in the Company's consolidated balance sheets, with the effective portion of changes in fair value recorded temporarily in equity (other comprehensive income). Such unrealized gains and losses are recognized in earnings, along with the related effects of the hedged item, once the forecasted transaction occurs (e.g. once foreign currency invoices are issued to clients or received from suppliers). Accounts receivables and payables (the "hedged items") denominated in foreign currencies are translated to the functional currency using applicable quarter-end or year-end exchange rates, with variations recorded in earnings for each period. Due to the volume of forward exchange contracts and the number of currencies they cover, the Company does not estimate the unrealized gains and losses arising from the accounting entries required by SFAS 133 at each cut-off date. Rather, the Company estimates and manages exchange rate risk on a project-by-project basis, overseeing and predicting the real cash impact at the end of a project arising from such transactions (both caused by the hedged item and the derivative). For this reason, Management uses internally a non-GAAP measure which is equivalent to GAAP financial income/expense, but which excludes the unrealized gains and losses from recognizing derivatives at fair value and from recording hedged foreign currency receivables and payables at period-end exchange rates.
- Stock and extraordinary variable compensation plan expenses: The Company has applied SFAS 123R to account for the share acquisition plan established by Abengoa with respect to Abengoa's shares. This plan has been accounted for as an equity award plan under SFAS 123R, and is being treated similar to a stock option plan. A valuation of the plan was performed at the grant date and the corresponding non-cash compensation expense is being recognized over the requisite service period of five years and six months. In addition, the Company has an extraordinary variable compensation plan for members of its senior management team, to be paid partially in Company's ordinary shares at the end of a five year period, based on the accomplishment of certain objectives. The compensation only vests and becomes payable after the end of the fifth year of the plan. Compensation expense is recorded under GAAP for these two plans. The Company provides a non-GAAP measure which excludes the non-cash impact of such plans.
- Amortization of intangibles arising on acquisitions: The Company records intangible assets during the purchase price allocation process performed on acquisitions. These include customer contract (backlog) and relationships, purchased software technology, trade names and in-process research and development, among others. Such intangible assets are amortized, for GAAP purposes, over their estimated useful lives. When evaluating an acquisition, the Company does not consider the non-cash amortization expense arising from these intangibles in its valuation. Therefore, the Company periodically excludes such impact from its depreciation and amortization (D&A) line to arrive at non-GAAP D&A, which it believes to be useful information for investors.
Conference Call Details Manuel Sanchez, Chairman and CEO and Barbara Zubiria, Chief Accounting Officer and Head of Investor Relations, will conduct a conference call to discuss first quarter results, which will be simultaneously webcast, at 11:00 A.M. Eastern Time / 5:00 P.M. Madrid Time on Wednesday, May 26, 2010.
To access the conference call, participants in North America should dial (877) 263-0337 and international participants +1 (706) 758-3263. A live webcast of the conference call will be available at the Investor Relations page of Telvent's corporate website at www.telvent.com. Please visit the website at least 15 minutes prior to the start of the call to register for the teleconference webcast and download any necessary audio software.
A replay of the call will be available approximately two hours after the conference call is completed. To access the replay, participants in North America should dial (800) 642-1687 and international participants should dial +1 (706) 645-9291. The passcode for the replay is 73227815.
About Telvent Telvent (Nasdaq: TLVT) is a global IT solutions and business information services provider that improves the efficiency and reliability of the world's premier organizations. The company serves markets critical to the sustainability of the planet, including the energy, transportation, agriculture, and environmental sectors. (www.telvent.com)
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(NASDAQ: AUTC - AutoChina International Ltd.)
LATEST NEWS!!
AutoChina International Announces Chief Financial Officer Jason Wang's Upcoming Appearance on CNBC's "Street Signs"
SHIJIAZHUANG, China, May 26, 2010 -- AutoChina International Limited (NASDAQ: AUTC), China's largest commercial vehicle sales, servicing, leasing, and support network, today announced that the Company's Chief Financial Officer Jason Wang is scheduled to appear this afternoon (May 26, 2010) on CNBC's "Street Signs" with Erin Burnett. The segment, recorded in Beijing, will focus on AutoChina's business and expansion throughout rural China and will be broadcast during the show, which begins at 2:00 p.m. ET on CNBC.
Check your local cable listings to tune into this segment. A clip of Mr. Wang's interview will also be made available on the network's website for later viewing.
About AutoChina International Limited: AutoChina International Limited is China's largest commercial vehicle sales, servicing, leasing, and support network. AutoChina's operating subsidiary was founded in 2005 by nationally recognized Chairman and CEO, Yong Hui Li. The Company owns and operates 190 commercial vehicle financing centers across China; and primarily provides sales-type leasing and support services for local customers. The Company's website is http://www.autochinaintl.com.
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(OTCBB: GNOLF - Genoil Inc.)
LATEST NEWS!!
Genoil Inc. Announces Proposed Private Placement for Up to $500,000 at $.13 by June 15, 2010 With an Attached Warrant at $.13
CALGARY, ALBERTA, May 25, 2010 -- Genoil Inc. (OTCBB: GNOLF) is pleased to announce that it has a proposed private placement for up to $500,000 at $.13 by June 15, 2010 with an attached warrant at $.13. The Warrants are exercisable until 24 months following their issue date at a price of U.S. $0.13. The common shares and Warrants issued in connection with this offering are subject to a four-month hold period.
The securities to be issued by the Corporation have not and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption therefrom under the 1933 Act and the securities laws of all applicable states.
Genoil is an international engineering technology development company based in Alberta, Canada, that develops innovative hydrocarbon, oil and water separation, and marine technologies for the oil and gas and commercial marine industries. Genoil's shares are listed on the TSX Venture Exchange under the symbol GNO, as well as on the OTC Bulletin Board under GNOLF.OB.
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(OTCBB: AXAHY - AXA)
LATEST NEWS!!
AXA Equitable Announces Three Senior Vice President Appointments
NEW YORK, May 24, 2010 -- AXA Equitable Life Insurance Company (OTCBB: AXAHY) has announced that Mark Scalercio, Michael Simcox and Timothy Welch have been elected to the position of senior vice president. The appointments were confirmed during a Board of Directors meeting.
"AXA Equitable congratulates Mark, Michael and Timothy on their respective appointments," said Christopher M. "Kip" Condron, chairman and CEO of AXA Equitable, and head of the global Life & Savings and Health businesses for AXA Group. "Each individual personifies the qualities and traits that are integral to being strong leaders, and I wish them success in their roles." Mark Scalercio has joined AXA Equitable as senior vice president of Marketing & Sales Support for the company's 401(k) & Association Business. He reports to James Shepherdson, president of Retirement Savings. In this position, Mr. Scalercio will accelerate the growth of AXA Equitable's employer-sponsored business by expanding the company's retail and third-party distribution presence in the space. Prior to joining AXA Equitable, he was vice president and senior managing director of the Investment & Retirement division at The Hartford.
Michael Simcox has been promoted to senior vice president in the office of the Chairman and CEO. He reports to Mr. Condron and serves as his chief of staff. In this position, Mr. Simcox continues to oversee execution of business decisions for AXA Equitable. He also now serves in an expanded role as senior advisor to the executive leadership teams for the newly formed global Life & Savings and Health businesses for AXA Group. Mr. Simcox has been with AXA since 1999, serving previously as vice president of Compensation and Total Rewards for AXA Equitable and as a manager of Global Compensation, Benefits and International Mobility for three years in Paris at AXA Group's headquarters. Prior to joining AXA Equitable, Mr. Simcox was an executive compensation consultant for a number of leading national and boutique consulting practices in the U.S.
Timothy Welch has rejoined AXA Equitable as senior vice president of Real Estate Investment Management. He reports to Kevin Byrne, executive vice president and chief investment officer. In this position, Mr. Welch has overall responsibility for the company's real estate investment portfolio and corporate real estate management, which includes facilities management, leasing arrangements and internal space planning. Mr. Welch began his career in the company's law department; joined Equitable Real Estate Investment Management in 1980; and oversaw real estate portfolio management for Equitable Life from 1995 through 1997. Prior to rejoining AXA Equitable, Mr. Welch was principal at WW Advisory Group, LLC, and executive managing director at Cushman & Wakefield, Inc.
About AXA Equitable In business since 1859, AXA Equitable Life Insurance Company (NY, NY) is a leading financial protection company and one of the nation's premier providers of life insurance and annuity products, as well as investment products and services through its affiliates, including AXA Advisors, LLC. The company's products and services are distributed to individuals and business owners through its retail distribution channel, AXA Advisors and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC.
AXA Equitable, a subsidiary of AXA Financial Inc., is part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management. "AXA Group" refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries.
For more information, visit www.axa-equitable.com.
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