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San West Inc. (OTCBB: SNWT) $0.19. Announced yesterday 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.
Amerigroup Corporation (NYSE: AGP) $24.73, Today announced that net income for the fourth quarter of 2009 was $40.2 million, or $0.79 per diluted share, versus $35.9 million, or $0.67 per diluted share, for the fourth quarter of 2008. For the year ended December 31, 2009, the Company's net income was $149.3 million, or $2.85 per diluted share.
In October of 2009, the Company withdrew its earnings per share guidance for 2009 due to the wide range of medical cost outcomes that were possible in the fourth quarter as well as uncertainty regarding premium rate actions. The Company has elected not to resume the practice of issuing guidance at this time pending further clarity on medical cost trends and additional insight on state premium rate actions.
What They Do: Amerigroup Corporation and its subsidiaries help those in publicly funded healthcare programs by ensuring that these individuals enter an organized system of care and a true medical home.
GenVec, Inc. (Nasdaq: GNVC) $2.33. Today announced a new contract with the Department of Homeland Security (DHS) to continue the development of adenovector-based vaccines against foot-and-mouth disease (FMD) based on research and development done in collaboration with USDA-ARS and DHS S&T scientists at the Plum Island Animal Disease Center. Under this new agreement, GenVec will receive $3.8 million in program funding the first year and an additional $0.7 million if DHS exercises its renewal option under the contract.
Under this contract, GenVec will use its adenovector technology to develop additional FMD-serotype candidate vaccines. GenVec will also explore methods to increase the potency and simplify the production process of FMD vaccines developed under this contract as well as its previous contract with the DHS announced in 2007.
What They Do: GenVec, Inc. is a biopharmaceutical company developing novel therapeutic drugs and vaccines.
Fuel Systems Solutions (Nasdaq: FSYS) $30.08. Today announced that based on a preliminary analysis of fourth quarter 2009 results, full year 2009 revenue of approximately $450 million, substantially above its outlook for $415 million to $425 million; 2009 gross margin and operating margin are expected at least to reach the higher end of their respective outlook ranges of 30%-32% and 14%-16%.
Commenting on the preliminary results, Fuel Systems' CEO Mariano Costamagna said, "Our business gained momentum in the fourth quarter of 2009, benefiting from the uncertain future of the Italian vehicle incentive environment. As a result, we expect our 2009 results to exceed our outlook by a magnitude we felt important to communicate prior to our normal fourth quarter reporting. Drawing on the flexibility inherent in our delayed original equipment manufacturer (DOEM) model, in 2009 we expanded our capacity to supply the growing market in Europe and Italy in particular, and delivered over 183,000 installations, a greater than threefold increase compared to 2008. We will discuss our strategic plan and outlook on our fourth quarter results call."
What They Do: Fuel Systems Solutions is a leading designer, manufacturer and supplier of proven, cost-effective alternative fuel components and systems for use in transportation and industrial applications.
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