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North American Energy Resources, Inc. (OTCBB: NAEY) $0.69. Announced Tuesday after market close that it has entered into a letter of intent to acquire 480 mineral acres in Washington County, Oklahoma. The leases include 14 existing oil producing wells. At current oil prices, the acquisition would provide NAEY enough positive cash flow to drill additional wells. Historically, Wayside wells initially flow 3-5 BOPD.
The acquisition of these leases would be a major step in bringing NAEY to profitability. Aggregate stripper wells can be economically managed to produce profits," stated Ross Silvey, President of North American Energy Resources, Inc.
What They Do: North American Energy Resources (NAEY) is an independent oil and natural gas company, engaging in the acquisition, exploration, and development of oil and natural gas properties with a focus on properties in northern Oklahoma. Currently NAEY has leases on 900 acres and plans to acquire an additional 1,400 acres within the next 90 days.
Its wells produce both oil and/or natural gas, with gas production coming primarily from the mulky coal seam. The company's primary goal is to acquire natural gas and oil properties that are relatively close to NAEY's Apwash pipeline of which it owns 75%. This pipeline will provide service to approximately 11,500 acres of potential leases that contain multiple zones of oil and CBM formations.
Massey Energy Company (NYSE: MEE) $22.94. Announced Tuesday after market clsoe net income of $20.2 million or $0.24 per share for the quarter ended June 30, 2009. These positive results were achieved on the sale of 9.4 million tons of produced coal which generated total produced coal revenue of $603.2 million during the quarter.
By comparison, Massey reported a net loss of $93.3 million on produced coal revenue of $710.3 million in the second quarter of 2008 (the prior year's quarterly results included a litigation charge that offset otherwise strong operating performance: see Note 10 below). Earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter of 2009 was $116.3 million compared to ($46.3) million in the second quarter of 2008. In addition, the Company reported a net increase of $42.9 million in its cash balance during the quarter. The increased cash balance was primarily driven by earnings and changes in working capital.
What They Do: Massey Energy Company with operations in West Virginia, Kentucky and Virginia, is the fourth largest coal company in the United States based on produced coal revenue and is included the S&P 500 index.
Parametric Technology Corporation (Nasdaq: PMTC) $12.96. Announced Tuesday after market close results for its third fiscal quarter ended July 4, 2009.
Q3 Results: Revenue of $226.2 million and non-GAAP EPS of $0.20. GAAP EPS of $0.03, including $6.6 million restructuring charge to reduce operating expenses. Relative to Q3 guidance, currency was favorable to revenue by approximately $3 million and unfavorable to expenses by approximately $2 million. Q4 Guidance: Revenue of $235 to $245 million and non-GAAP EPS of $0.25 to $0.30. GAAP EPS of $0.09 to $0.13. FY 2009 Targets: Revenue of approximately $931 million and non-GAAP EPS of approximately $0.77. GAAP EPS of approximately $0.24.
What They Do: Parametric Technology Corporation develops, markets, and supports product lifecycle management (PLM) software solutions and related services enabling companies that enhance their product development processes.
Panera Bread Company (Nasdaq: PNRA) Announced Tuesday after market close net income of $20 million, or $0.65 per diluted share, for the second quarter ended June 30, 2009, which included a $0.02 per diluted share charge for the write-off of smallwares related to the rollout of new china and a $0.02 per diluted share charge for reserves associated with a state sales tax audit. These results compare to net income of $16 million, or $0.52 per diluted share, for the second quarter ended June 24, 2008, and represents a 28% year-over-year increase in net income.
For the twenty-six weeks ended June 30, 2009, net income was $37 million, or $1.21 per diluted share. These results compare to net income of $28 million, or $0.93 per diluted share, for the twenty-six weeks ended June 24, 2008, and represents a 33% year-over-year increase in net income.
What They Do: Panera Bread Company owns and franchises 1,276 bakery-cafes under the Panera Bread and Saint Louis Bread Co.names as of June 30, 2009. With its identity rooted in handcrafted, fresh-baked, artisan bread, Panera Bread is committed to providing great tasting, quality food that people can trust.
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