Nordic American Tanker Shipping (NYSE: NAT) $31.60. Today announced it has entered into a preliminary agreement with Samsung Heavy Industries Co., Ltd. ("Samsung"), a leading Korean shipyard, to build two suezmax tankers of 158,000 deadweight tons each to be delivered to the Company in the third and fourth quarters of 2011. The purchase prices of the two newbuilding vessels are $64.5/$65.0m, with about half to be paid on the signature of the definitive contracts and the balance to be paid on delivery. The advance payments will be guaranteed by a first class financial institution. The acquisitions will be financed by resources of the Company. There are no plans for a follow-on equity offering in connection with either these two 2011 newbuldings or the previously announced two newbuildings scheduled to be delivered to us later this year.
Assuming no other acquisitions or dispositions, the delivery of the newbuildings will increase the Company's fleet to 20 modern double hull suezmax tankers by the end of 2011. In January 2009, the Company had 12 trading suezmax tankers. At the end of 2011 the trading fleet of the Company is expected to reach 20 suezmax tankers - or an increase of 67% over a period of 36 months. During the same period, the Company's share count is expected to have increased by about 36% assuming that no further acquisitions or follow-on equity offerings are made in the meantime. The definitive contracts with Samsung are expected to be signed at the end of April or in early May 2010.
What They Do: Nordic American Tanker Shipping Ltd., an international tanker company, owns and operates crude oil tankers.
Rainmaker Systems (Nasdaq: RAIN) $1.48. Today announced it has signed a one-year agreement for lead development services with new client Compuware Corporation (Nasdaq: CPWR). Under the agreement, Rainmaker will provide appointment setting and decision-making identification to support Compuware in driving increased sales pipeline opportunities and revenue.
Rainmaker's CEO Michael Silton commented, "We are delighted Compuware has chosen to engage us with this one-year agreement for lead development. We believe the award of this agreement reflects the value of our unique lead development solution that is a fully integrated combination of technology and execution services, as well as our unique pay-for-performance approach to revenue generation and proven track record of success."
What They Do: Rainmaker Systems delivers sales and marketing solutions, offering hosted application software and execution services designed to drive more revenue for clients.
Rudolph Technologies (Nasdaq: RTEC) $8.69. Today announced the receipt of multiple orders for its Discover Enterprise fab-wide process analysis software. The orders, which have come from several major Japanese IC manufacturers, demonstrate the product’s wide range of applications.
Discover Enterprise software helps chip manufacturers improve yield and profitability in their manufacturing lines. It integrates and analyzes data from all inspection, metrology and test systems in the fab to provide a complete report of fab-wide yield problems. Process engineers use this data to optimize manufacturing performance and quickly identify and correct the cause of yield excursions.
What They Do: Rudolph Technologies, Inc. is a worldwide leader in the design, development, manufacture and support of defect inspection, process control metrology, and data analysis systems used by semiconductor device manufacturers worldwide.
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