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Solutions Group (Pinksheets: SOLU) $0.06. Announced Tuesday after market close that its subsidiary, idrive Monitoring Systems, signed a distributer agreement with Beek Movil to supply idrive X1 devices in Mexico.
Mexico-based Beek Movil, who sells and installs GPS devices, agreed to terms with idrive monitoring systems last week. Under the terms of the agreement, Beek will stock, sell and install the idrive X1 exclusively in Mexico.
Stefan Dragomir, president of idrive, said that he was "glad to have a company of this stature, who is a leader in their industry, choose to represent idrive. We see Mexico as an important strategic market for our product line. Working with a best-in-class company like Beek will help ensure the success of the X1 in this important market."
Beek Movil has recently been included into the National Registry of Scientific and Technology Institutions and Enterprises (RENIECYT) from the Science and Technology National Committee of Mexico (CONACYT).
What They Do: Solutions Group is an international provider of Managed Engineering Services. The Company seamlessly integrates its regional design centers in North America with its lower cost off-shore engineering locations in Romania and Mexico to provide exceptional blended pricing solutions and reduced product design cycle times.
Solutions Group creates greater value for its shareholders by leveraging its core engineering competencies into other opportunities including royalty partnerships, intellectual property creation and selective acquisitions. SGI's customers currently include major Fortune 500 companies, small and mid-range OEMs and early stage product companies.
Comtech Telecommunications (Nasdaq: CMTL) $30.46. Announced Tuesday after market clos its operating results for the first quarter ended October 31, 2009. Net sales for the first quarter of fiscal 2010 were $133.8 million compared to $191.9 million for the first quarter of fiscal 2009. As expected, the period-over-period decrease in net sales is attributable to lower sales in all three of the Company's business segments. However, during the first quarter of fiscal 2010, the Company did begin recording significant revenue in its mobile data communications segment relating to shipments for orders previously received from the U.S. Army. The Company currently expects these shipments to continue throughout fiscal 2010, resulting in quarterly consolidated revenues likely increasing from the first quarter levels for each of the remaining quarters of fiscal 2010.
GAAP net income was $9.0 million, or $0.30 per diluted share, for the first quarter of fiscal 2010 compared to $21.6 million, or $0.80 per diluted share, for the first quarter of fiscal 2009.
What They Do: Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions.
Actuate Corporation (Nasdaq: ACTU) $4.11, Announced Tuesday after market close that they have entered into a definitive agreement with Xenos Group Inc. Actuate will acquire all of the outstanding common shares of Xenos by way of a take-over bid (the "Offer") at a price of CAD$3.50 per share in cash. The transaction, which has been unanimously approved by the Actuate and Xenos Boards of Directors, places Xenos at an enterprise value of approximately CAD$28.4 million (after taking account of Xenos’ cash balance of approximately CAD$9.3 million as of September 30, 2009).
What They Do: Actuate founded and continues to co-lead the Eclipse BIRT open source project. BIRT is the premier development environment for Rich Information Applications that present data in compelling and interactive ways via the web on any device.
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