Our Stocks to Watch tomorrow include I Green Innovations Inc. (OTCBB: IVOT), Pacer International Inc. (Nasdaq: PACR), Trey Resources Inc. (OTCBB: TYRIA), Zevotek Inc. (OTC: ZVTK), Agilysys Inc. (Nasdaq: AGYS) and NaturalNano Inc. (OTCBB: NNAN).
I GREEN INNOVATIONS INCORPORATED (OTCBB: IVOT)
"Up 150.00% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/IVOT.php
I Green Innovations, through its subsidiary B Green Innovations, Inc. ("B Green"), a Matawan, New Jersey-based Corporation, is dedicated to becoming a "green" technology company, focused on acquiring and identifying promising technologies that address environmental issues. The first technology will be used to create new products from recycled tire rubber. Recently, the company announced that it had filed a new Patent Application for a process it described as "paver blocks and patio blocks made from recycled tire crumb rubber." B Green Innovations, Inc. has also filed 3 additional patents on products made using 100% recycled tires.
IVOT News:
November 4 - B Green Innovations, Inc. Signs Distribution Agreement With Whirlpool Corporation; Whirlpool to Sell ‘VibeAway™’ Anti-Vibration Pad Made From 100% Recycled Pads Made From Scrap Tires
Whirlpool Corporation Is the World's Leading Manufacturer and Marketer of Major Home Appliances, With Annual Sales of Approximately $19 Billion; “Recycling the Planet One Tire at a Time”
I Green Innovations, Inc. (OTCBB: IVOT), announced its wholly owned subsidiary B Green Innovations, Inc. has signed a distribution agreement with Whirlpool Corporation (NYSE: WHR) to sell "VibeAway™" anti-vibration pad made from 100% recycled pads made from scrap tires. Whirlpool Corporation will distribute the "VibeAway™" to customers nationwide seeking an environmentally responsible solution.
The distribution agreement is a terrific opportunity for B Green Innovations, Inc. to distribute products with a great brand on a national basis. We believe that our "Green" product offering, matched with great service and the strong consumer appeal of the Whirlpool brand will enable us to build market share and provide a meaningful source of revenue and profit.
The demand for environmentally responsible acoustical products has increased significantly in the past few years. The VibeAway™ is a welcome addition to growing lists of products we offer to our customers which focus on reducing the environmental impact of each project.
ABOUT WHIRLPOOL
Whirlpool Corporation today is the world's leading manufacturer and marketer of major home appliances. Whirlpool realizes annual sales of approximately $19 billion, has 70,000 employees and maintains 69 manufacturing and technology research centers around the world. We market Whirlpool, Maytag, KitchenAid, Jenn-Air, Amana, Brastemp, Consul, Bauknecht and other major brand names to consumers in nearly every country around the world.
PACER INTERNATIONAL INCORPORATED (NASDAQ: PACR)
"Up 49.82% on Wednesday "
Detailed Quote: http://www.otcpicks.com/quotes/PACR.php
Pacer International, a leading asset-light North American freight transportation and logistics provider, through its intermodal and logistics operating segments, offers a broad array of services to facilitate the movement of freight from origin to destination. The intermodal segment offers wholesale intermodal services to transportation intermediaries, and retail intermodal services directly to beneficial cargo owners. The logistics segment provides other logistics services to beneficial cargo owners through its truck brokerage, warehousing and distribution, international freight forwarding and supply-chain management services units. Pacer International is headquartered in
PACR News:
November 3 - Pacer International Announces New Arrangements with Union Pacific and Reports Third-Quarter 2009 Results
Pacer International, Inc. (Nasdaq: PACR), the asset-light North American freight transportation and logistics services provider, announced that it has entered into new arrangements with Union Pacific Railroad (UP) that will further accelerate Pacer’s transformation into a fully-integrated, door-to-door intermodal service provider. In addition, Pacer reported its financial results for the three- and nine-month periods ending September 30, 2009.
* Multi-year arrangements provide continued access to the entire UP intermodal rail network and establishes a new rate structure.
* Pacer increases focus on door-to-door integrated intermodal services with seamless coordination and control of equipment, technology, and service delivery.
* Pacer’s full portfolio of intermodal, trucking, and logistics services is positioned to meet shipper requirements.
“We are delighted to announce that Pacer and UP have entered into new multi-year arrangements that provide Pacer with continued access to the entire UP network,” said Michael E. Uremovich, chairman and CEO of Pacer. “This is a significant positive development for Pacer and our customers. The direct beneficiaries of the arrangements are companies seeking door-to-door intermodal services who demand a higher degree of service delivery integration and greater efficiency.”
The new arrangements provide Pacer with continued access to the entire UP intermodal network, featuring a multi-year line-haul services extension that replaces the parties’ current terms for domestic big-box shipments that were to expire in 2011. In addition, it resolves outstanding claims between Pacer and UP relating to domestic container transportation; facilitates a more efficient equipment model through a fleet-sharing arrangement that provides customers access to equipment of both companies; and allows Pacer to strategically focus on its direct-to-customer intermodal service offering. The multi-faceted arrangements form a firm foundation for intermodal service growth by both organizations.
Pacer will utilize the $30 million cash payment received in connection with the new arrangements to reduce outstanding debt under its revolving credit facility, a reduction of nearly 50 percent, providing the Company with additional availability under the facility.
The increased focus on high-value, door-to-door service is expected to result in long-term benefits for Pacer, though a substantial reduction in revenues from third-party, ramp-to-ramp services is anticipated due to the new arrangements’ terms and conditions.
“Pacer’s strategy recognizes that shippers favor direct control over each element of the transportation process. This is an exciting and dynamic time because intermodal has emerged as a key growth sector in the transportation industry. We are positioned for growth as one of the largest intermodal services providers with the most diverse container fleet in North America and focused on what the customer demands—seamless coordination and control of equipment, technology, and service delivery,” said Uremovich.
“We continue to offer our premier array of transportation and logistics services, through our cartage, highway, warehousing, and ocean carrier and freight forwarding businesses; and we continue to dedicate ourselves to delivering the very highest service with confidence every day,” said Uremovich.
TREY RESOURCES INCORPORATED (OTCBB: TYRIA)
"Up 50.00% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/TYRIA.php
Trey Resources is involved in the acquisition and build-out of technology and software companies. The Company's growth strategy is to acquire firms in this extensive and expanding, but highly fragmented segment, as it seeks to create substantial value for shareholders. Since June 2004, Trey has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, and AMP-BEST Consulting, Inc.
TYRIA News:
September 10 - Management's Discussion and Analysis of Financial Condition and Results of Operation
Visit http://bit.ly/MTS8d to view the condensed consolidated financial statements and related notes for the quarter ended June 30, 2009 filed by Trey Resources Inc. (OTCBB: TYRIA).
ZEVOTEK INCORPORATED (OTC: ZVTK)
"Up 66.67% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/ZVTK.php
Zevotek, Inc. plans to market and sell independently a range of distinct and independent lines of home care and household products. In May 2007, the company entered into a license agreement to sell an energy saving compact fluorescent light bulb named the Ionic Bulb. The company plans to market the Ionic Bulb through TV infomercials, catalogs, magazines and major
ZVTK News:
November 4 - Zevotek Hires President of Ionic Bulb Business
Zevotek, Inc. (OTC: ZVTK) (Frankfurt: T5V1), a worldwide direct marketer and distributor of innovative personal and home care items, today announced that Jeffrey R. Carlson has joined the company as President of its Ionic Bulb business.
"Zevotek is very fortunate to land a professional of Jeff's caliber," said Adam Engel, CEO of Zevotek. "He brings leadership skills, broad business experience and expertise in credit card and banking services. Zevotek is building an Ionic Bulb selling and marketing 'machine' designed to sell bulbs using our new TV infomercial, websites and state-of-the art centers for taking and filling customer orders. I'm looking forward to Jeff contributing his experience and financial savvy to realize its tremendous potential." Zevotek's Ionic Bulb is designed for consumer use by combining the performance features of ionic air cleaning technology with those of a 10,000 hour reduced energy use compact fluorescent light bulb (CFL).
Mr. Carlson comes to Zevotek with experience from JPMorgan Chase where he acted as a liaison between the bank's global institutional customers and the bank's international banking and trading services teams. Mr. Carlson previously founded and led an entrepreneurial business with a focus on developing credit card merchant service relationships with CardService International and other major credit card processors. His firm's clients represented a broad range of businesses, including traditional retailers and e-commerce businesses. Mr. Carlson also previously served in the United States Marine Corps.
AGILYSYS INCORPORATED (NASDAQ: AGYS)
"Up 33.40% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/AGYS.php
Agilysys is a leading provider of innovative IT solutions to corporate and public-sector customers, with special expertise in select markets, including retail and hospitality. The company uses technology — including hardware, software and services — to help customers resolve their most complicated IT needs. The company possesses expertise in enterprise architecture and high availability, infrastructure optimization, storage and resource management, identity management and business continuity; and provides industry-specific software, services and expertise to the retail and hospitality markets. Headquartered in
AGYS News:
November 4 - Agilysys Reports Unaudited Fiscal 2010 Second-Quarter and First-Half Results
* Quarterly Net Income from Continuing Operations Improves Sharply to $2.9 Million, or $0.12 Per Diluted Share, on 9% Lower Revenue
* Revenue Increases 20% Sequentially
* Debt Free With $48.2 Million Cash on Hand at Sept. 30 vs $36.2 Million at Fiscal Year-End
Agilysys, Inc. (Nasdaq: AGYS), a leading provider of innovative IT solutions, announced unaudited financial results for the fiscal 2010 second quarter and first half ended September 30, 2009.
Second-Quarter Unaudited Results of Operations
Revenue declined 9.0% to $156.0 million, compared with $171.4 million in the second quarter of fiscal 2009. Hardware sales declined 3.5%, services declined 32.6% and software sales increased 14.0%. Consolidated revenues rebounded 19.8% from the $130.2 million reported in the first quarter, due to double-digit growth in hardware, software and services.
Cost-cutting initiatives and lower acquisition-related intangible amortization drove selling, general and administrative (SG&A) expense down $12.4 million, or 23.9%, to $39.6 million. The Company recently executed an additional $9 million in annual savings of which approximately $4 million will be realized in the second half of fiscal 2010.
The Company's operating income, excluding restructuring and asset impairment charges ("Charges"), improved $6.2 million to $4.3 million from the operating loss of $1.9 million last year. Lower sales and gross profit year-over-year were more than offset by lower SG&A expense. Adjusted EBITDA (operating income plus depreciation and amortization), excluding Charges, increased 44.9% to $7.4 million for the quarter, compared with $5.1 million a year ago.
Agilysys reported net income from continuing operations of $2.9 million, or $0.12 per diluted share, a significant increase from the loss of $105.3 million, or a loss of $4.66 per share, recorded in the previous year.
"We are pleased to report strong sequential growth in sales and positive net earnings for the quarter. The improvement in profitability reflects the tangible benefits realized from our cost-saving efforts," said Martin Ellis, President and Chief Executive Officer. "In addition to improved bottom-line performance, our order pipeline has started to show modest recovery from the depressed levels of the past several quarters."
Fiscal 2010 First-Half Unaudited Results of Operations
First-half 2010 revenue was $286.2 million compared with revenue of $351.2 million in the first six months of 2009. Revenue in the first half of fiscal 2010 decreased 18.5% reflecting lower sales in each of the company's three business segments. Hardware declined 13.6%, services declined 36.3% and software decreased 8.2%.
SG&A expense declined $23.7 million, or 22.0%, to $84.1 million, largely due to cost reductions. Approximately $44 million in annual costs have been eliminated since the first quarter of fiscal year 2009 when the company began aggressively reducing SG&A expenses to align cost structure with deteriorating market demand. Adjusted EBITDA, excluding Charges, was $1.1 million for the six-month period, versus $3.3 million in the comparable period of fiscal 2009.
For the first six months of fiscal 2010, the company reported a net loss from continuing operations of $9.5 million, or a loss of $0.42 per share, compared with a net loss from continuing operations of $165.4 million, or a loss of $7.33 per share, in the first six months of fiscal 2009.
Business Outlook
The year-over-year declines in revenue have moderated and while some economic indicators have improved, market conditions still reflect uncertainty regarding the overall business environment and demand for IT products. Ellis commented: "The business is stabilizing, our pipeline has improved, and we expect to see a seasonal increase in sales in our third quarter ending December. As we look to the balance of fiscal 2010, we plan to continue to focus on those items under our control that can help produce tangible improvements in results. Near-term, we are optimistic regarding our outlook for the third quarter of the fiscal year and expect financial performance in second half to improve versus the first half."
NATURALNANO INCORPORATED (OTCBB: NNAN)
"Up 25.00% on Wednesday"
Detailed Quote: http://www.otcpicks.com/quotes/NNAN.php
NaturalNano, Inc. is a materials science company focused on developing and commercializing advanced nanocomposites. Based in
NNAN News:
November 4 - NaturalNano Confirms Feasibility of Entering New Select Markets
NaturalNano, Inc. (OTCBB: NNAN) (
Acting President and CEO James Wemett said, "I am excited about our technology and our customers' success. The tubular nature of Halloysite material offers customers a unique advantage, allowing the microtubes to be easily treated and separated. In the past, NaturalNano worked with customers to be their supply chain. We are now changing our Philosophy and concentrating on specific fields of use. We are working on specific products that can benefit from our material and our novel controlled release effect. Going forward, we plan on participating in the commercialization of these Nano related products.
Two recent assessment efforts for diverse uses were favorably reported by the respective customers. In the first, Dr. Mike King at
Based on initial work with HNTs, Pierre Miasnik, President of Fiabila S.A., a world leader in the contract manufacture of cosmetics, commented, "NaturalNano's technology will enable Fiabila to continue our commitment to use natural ingredients in our products." Fiabila is using our loaded Halloysite nanotubes for a new line of nail polish being introduced in the spring. NaturalNano has a three year supply agreement.
Wemett added, "We have now shown the commercial viability of Halloysite nanotube technology in a range of products. We are aggressively looking for an acquisition that brings our technology forward to produce products using our HNT. Our Goal is to use NaturalNano Technology to commercialize products that will directly financially benefit our company."
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