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Yasheng ECO-Trade Corporation (OTCBB: YASH) $0.55. Today announced it has entered negotiations with Management Consulting Company to explore further expansion and acquisitions for Yasheng Russia, a Yasheng Eco-Trade Corporation joint venture. Management Consulting Company is a division of IFD Kapital Group in Russia.
Yasheng ECO-Trade Chairman Greg Rubin stated, “We are excited about the possibility of making strategic moves that will help the company achieve its vision. In addition, the relationship we are establishing with one of Russia’s premier financial services firm may be important as the company moves to expand into the region.”
IFD Kapital is one of the largest financial groups in Russia with US$4.9 Billion in total assets and US$2 billion in total equity. IFD Kapital has more than 7,000 employees.
What They Do: The Company's business has been the identification and acquisition of undervalued assets within emerging industries for the purpose of consolidation and development of these businesses and sale if favorable market conditions exist. The Company's objective is to find, acquire and develop resources at the lowest cost possible and recycle its cash flows into new projects yielding the highest returns with controlled risk. The Company's competencies include financial services, mergers and acquisitions, accounting, real estate development and natural resources exploration. The Company is currently in the process of developing a logistics center. As part of its strategy to develop a logistics center, the Company has entered a term sheet with Yasheng Group in which Yasheng Group, among other things, has agreed to contribute real property for the development of a logistics center. Further, the Company and Yasheng Group have jointly entered into a cooperation agreement with Legend Transportation based in Texas.
NetLogic Microsystems (Nasdaq: NETL) $39.43. Today announced financial results for its second quarter ended June 30, 2009. Revenue for the second quarter of 2009 was $32.5 million compared with $30.4 million for the first quarter of 2009 and with $36.5 million for the second quarter of 2008.
Second quarter 2009 net loss, determined in accordance with generally accepted accounting principles (GAAP), was $2.2 million or $0.10 per diluted share. By comparison, GAAP net income was $2.3 million or $0.10 per diluted share for the second quarter of 2008. GAAP net loss included stock-based compensation expense, the amortization of intangible assets, fair value inventory adjustments, acquisition-related costs, and one month of interest income on a $15.0 million bridge loan to RMI Corporation. Excluding these items, non-GAAP net income for the second quarter of 2009 was $8.4 million or $0.35 per diluted share, compared with $0.40 per diluted share for the second quarter of 2008.
What They Do: NetLogic Microsystems, Inc., a fabless semiconductor company, designs, develops, and markets processors and integrated circuits.
FARO Technologies (Nasdaq: FARO) $15.86. Today announced results for the second quarter ended July 4, 2009. Net loss for the second quarter was $2.1 million, or $0.13 per diluted share, a decrease of $8.5 million, compared to net income of $6.4 million, or $0.38 per diluted share, in the second quarter of 2008.
What They Do: With approximately 20,000 installations and 9,500 customers globally, FARO Technologies, Inc. designs, develops, and markets portable, computerized measurement devices and software used to create digital models -- or to perform evaluations against an existing model -- for anything requiring highly detailed 3-D measurements, including part and assembly inspection, factory planning and asset documentation, as well as specialized applications ranging from surveying, recreating accident sites and crime scenes to digitally preserving historical sites.
Mattson Technology (Nasdaq: MTSN) $1.73. Today announced results for its second quarter of 2009 (ended June 28, 2009). Net sales for the second quarter were $8.1 million, compared to $5.6 million in the first quarter, and $41.8 million in the second quarter of 2008. Gross margin for the second quarter was negative $1.6 million, compared to negative $7.9 million in the first quarter, and $18.4 million in the second quarter of 2008. The negative gross margin in both the first and second quarters of 2009 were attributable to manufacturing under-absorption at the current low revenue volumes, and additional reserves for excess inventory and vendor commitments of $3.8 million in the second quarter and $9.3 million for the first quarter.
Net loss for the second quarter was $19.9 million, or $0.40 loss per share, compared with a net loss of $27.2 million, or $0.55 loss per share, for the first quarter and net loss of $6.8 million, or $0.14 loss per share, for the second quarter of 2008.
What They Do: Mattson Technology, Inc. designs, manufactures and markets semiconductor wafer processing equipment used in the fabrication of integrated circuits.
TeleTech Holdings (Nasdaq: TTEC) $15.46. Today announced financial results for the second quarter 2009. The Company also filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission for the quarter ended June 30, 2009.
TeleTech reported second quarter 2009 revenue of $301.5 million compared to $357.4 million in the second quarter 2008 and $304.0 million in the first quarter 2009. On a constant currency basis, revenue declined 8.0 percent or $28.6 million from the second quarter 2008. These declines were primarily attributable to the increased migration of client programs to offshore locations and lower client volumes resulting from the weak economic environment.
Second quarter 2009 fully diluted earnings per share were 25 cents on net income attributable to TeleTech shareholders of $16.1 million. Excluding the $6.8 million of unusual pre-tax charges discussed above, second quarter 2009 non-GAAP earnings per share were 32 cents.
What They Do: TeleTech is one of the largest and most geographically diverse global providers of business process outsourcing solutions.
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