Exide Technologies (Nasdad: XIDE) $4.27. Announced Wdnesday after market close its fiscal 2010 fourth quarter and full year financial results, for the periods ended March 31, 2010.
Net income for the fiscal 2010 fourth quarter was $40.4 million or $0.53 per share as compared to a net loss of $64.4 million or ($0.85) per share in the fiscal 2009 fourth quarter; fiscal year 2010 net loss of $11.8 million or ($0.16) per share compared to a net loss of $69.5 million or ($0.92) per share in the prior year period and Net cash provided by operating activities for fiscal year 2010 was $109.2 million compared to $120.5 million for the prior fiscal year; fiscal 2010 includes the impact of funding restructuring initiatives in the amount of $86.4 million.
What They Do: Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries.
KVH Industries, Inc. (Nasdaq: KVHI) $13.05. Today announced that it has received a new $7.1 million order from a major defense contractor for fiber optic gyros (FOGs) to employ in remote weapons stations (RWS). Remote weapon stations allow gunners to operate, aim, and fire the weapon from inside the safety of their vehicles, taking the gunners out of turret positions where they are exposed to hostile fire. KVH's FOGs provide precise optical stabilization and weapon recoil control for RWS units while ensuring that the weapon stays on target whether the vehicle is stationary or on the move.
"KVH's FOGs are ideally suited for RWS applications," explained Jay Napoli, KVH's vice president of FOG and OEM sales. "They have very wide bandwidth, and are extremely accurate and durable thanks to their all-fiber, ruggedized design. The result is a precision sensor capable of providing the hundreds of measurements per second to track and respond to the movements caused by the vehicle and the shock of the weapon firing."
The world's biggest customer for remote weapons stations is the U.S. Army, which has ordered more than 10,000 systems for use on many of its combat vehicles in a program called the Common Remotely Operated Weapons Station (CROWS). The CROWS is a three-axis stabilized mount equipped with a sensor suite and fire control software, allowing on-the-move target acquisition and first-burst target engagement. Capable of target engagement under day and night conditions, the CROWS sensor suite includes a daytime video camera, thermal camera, and laser rangefinder, all of which are stabilized by KVH FOGs. A number of foreign militaries have also adopted similar weapon stations for their tactical vehicles.
What They Do: KVH Industries is a leading manufacturer of solutions that provide global high-speed Internet, television and voice services via satellite to mobile users at sea, on land, and in the air.
SonicWALL, (Nasdaq: SNWL) $8.99. Today announced it has entered into a definitive agreement to be acquired by an investor group led by Thomas Bravo LLC in a transaction valued at approximately $717 million. The SonicWALL Board of Directors unanimously approved the agreement and recommends that the Company's shareholders approve the transaction.
Under the terms of the agreement, SonicWALL shareholders will receive $11.50 in cash for each share of SonicWALL common stock they hold, representing a premium of approximately 28% over the Company's most recent closing price, and approximately a 63% premium over the Company's enterprise value.
What They Do: Guided by its vision of Dynamic Security for the Global Network, SonicWALL develops advanced intelligent network security and data protection solutions that adapt as organizations evolve and as threats evolve.
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