San West Inc. (OTCBB: SNWT) $0.19. Today announced forward-looking sales and profit guidance for its e-commerce business during the 2010 Spring and Summer season.
Based on order patterns, increasing traffic and the success of search engine optimization and other marketing strategies, management expects to generate gross profits of at least $650,000 on net sales of approximately $2.1 million between January 1 and August 15, 2010. The company also anticipates logging 1,000 new customer sign-ups and more than 1,100 sales orders during this time-frame. This projection represents a significant increase over previously announced online revenue forecasts for Spring 2010 of approximately $450,000.
What They Do: San West designs, manufactures, sells and repairs off-road buggies, and additionally provides aftermarket performance products and accessories for off-road buggies. Products are sold via three divisions: at retail store locations, via the online store and through its growing dealer network.
Jazz Pharmaceuticals (Nasdaq: JAZZ) $10.24. Announced Thursday after market close that the U.S. Food and Drug Administration (FDA) has accepted for filing the New Drug Application for JZP-6 (sodium oxybate) for the treatment of fibromyalgia. Based on a standard 10-month review, the target date for the FDA to complete its review of the NDA under the Prescription Drug User Fee Act (PDUFA) is October 11, 2010.
The submission is based on a comprehensive clinical development program including results from two Phase III clinical trials. In both trials, sodium oxybate significantly decreased pain and fatigue as well as improved daily function, patient global impression of change, and sleep quality. Sodium oxybate was generally well tolerated, with the majority of adverse events reported being mild to moderate in nature and similar to those seen in previous trials with narcolepsy. Sodium oxybate has not been evaluated by regulators for the treatment of fibromyalgia and is not approved for this use.
What They Do: Jazz Pharmaceuticals is a specialty pharmaceutical company that identifies, develops and commercializes innovative treatments for important, underserved markets in neurology and psychiatry.
PECO II, Inc. (Nasdaq: PIII) $3.99. Announced Thursday after market close the signing of a definitive agreement with Lineage Power Holdings, Inc. (Lineage), a Gores Group company and a provider of intelligent power conversion solutions. Under the terms of the agreement, Lineage will acquire all of the outstanding shares of PECO II for $5.86 per share in cash. The offer price represents a 51 percent premium over the closing price of PECO II shares on February 17, 2010.
The Boards of Directors of both PECO II and Lineage have unanimously approved the proposed transaction. Certain of PECO II's principal shareholders that collectively own approximately 17 percent of the outstanding shares of PECO II's common stock, including Matthew P. Smith and trusts controlled by James L. Green, two members of PECO II's Board of Directors, have agreed to vote their shares in favor of the transaction.
What They Do: PECO II, headquartered in Galion, Ohio, provides engineering and on-site installation services and designs, manufactures, and markets communications power systems and power distribution equipment.
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