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Evolution Fuels (PINKSHEETS: EVFN) $0.0001. Today announced an update regarding the recent financial performance of the Willie's Place at Carl's Corner Truck Stop, of which the Company owns a membership interest.
The state-of-the-art truck stop features 12 diesel/biodiesel fueling lanes for tractor-trailers plus a wide load island. There is a separate fueling island for cars and trucks. In addition to the truck stop fueling facilities, "Willie's Place at Carl's Corner" features two restaurants, a convenience store, a saloon, a gift shop featuring official Willie Nelson merchandise and memorabilia, and the 500 seat "Night Life" theater that features regular live music performances.
Since the opening of the facility in December 2009, the truck stop has demonstrated significant improvement with respect to financial performance. Whereas the facility experienced average net losses (before interest, taxes, and depreciation) of more than $70,000 per month for the first quarter of 2009, the following three quarters averaged net losses of $16,000 per month. During the first quarter of 2010 the truck stop averaged net gains (before interest, taxes, and depreciation) of $14,000 per month, which improved to $43,000 per month during the second quarter of 2010.
The Improvements are due mostly to increased fuel sales concurrent with decreased operational expenses. Management expects performance to continue to improve as fuel volumes continue to increase.
What They Do: Evolution Fuels, Inc. endeavors to market renewable transportation fuels at retail fuel stations that will provide superior quality fuels to competing fuel stations by virtue of the blending capability within the fuel dispensers at its stations and offering the blends at competitive prices. The stations will offer ethanol/gasoline blends of fuel including 10% ethanol/90% gasoline (E10), 20% ethanol/80% gasoline (E20), 30% ethanol/70% gasoline (E30), and 85% ethanol/15% gasoline (E85). The latter three blends are intended for flex-fuel vehicles, although recent studies have shown that many legacy vehicles on the road today may use E20 and E30 blends without incurring damage to the engines or fuel systems. The Company's plan calls for the development of a chain of renewable fuel stations in the southwestern and southeastern United States that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after Willie's Place Truck Stop in Carl's Corner, TX.
Medical Connections Holdings (OTCBB: MCTH) $0.22. Today announced its new office space in Boca Raton, Florida is ready for occupancy. The Company reported that its new space will consist of 10,058 square feet which will accommodate sales and corporate activities. Move-in date is scheduled for September 25, 2010.Anthony Nicolosi, Company President, stated, "The new office space will be able to accommodate all of our needs in one location and will provide room for expansion. This move comes right at the perfect time, providing more space for additional sales personnel that come to us via local acquisitions."
What They Do: Medical Connections, Inc. is a national provider of medical recruitment and staffing services.
ACL Semiconductors (OTCBB: ACLO) $0.45. Today announced financial results for the second quarter ended June 30, 2010. Mr. Alan Yang, Chairman and Chief Executive Officer of ACL Semiconductors, commented, "We are excited to report another quarter of year-over-year revenue growth. In the second quarter our total sales turnover was up 18% as compared to the previous year quarter. These outstanding results reflect the success of our business model and the macro economic factors across Hong Kong and Southern China. Momentum there in the electronic sector particularly for memory products continues into the third quarter as demand for consumer electronics remains robust."
For the second quarter of 2010, ACL Semiconductors reported net revenue of $89.53 million, increase from $75.83 million for the second quarter 2009. The year over year revenue growth was primarily due to an increase of sales volume in the PRC market. Net income for the second quarter ended June 30, 2010 was $593,895 compared to net income of $1.1 million for the second quarter of 2009. Earnings per diluted share was $0.02 for the second quarter 2010, as compared to $0.04 in the year ago quarter.
Gross profit for the second quarter 2010 was $1.9 million, down 24.6% from $2.5 million for the second quarter 2009 primarily due to lower margins. Gross margin for the second quarter of 2010 was 2.2%, down from 3.6% for the second quarter 2009. The decrease in gross profit and gross margins is mainly due to the decrease in average selling prices as the market became saturated with excess supply. The saturation was due to the excess supply intended for the United States and Europe that was pushed into the China market causing the selling price to decrease.
What They Do: ACL Semiconductors distributes electronic components under the "Samsung" brand name to the Hong Kong and South China markets.
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