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G-III Apparel Group (Nasdaq: GIII) $24.14. Today announced operating results for the second quarter of fiscal 2011. The Company reported that, for the three months ended July 31, 2010, net sales increased by 39% to $189.0 million from $135.9 million in the second quarter last year. This increase was stronger than expected and resulted primarily from increased wholesale sales of women’s dresses, sportswear and suits, as well as from higher sales by the Company’s Wilsons retail outlet store business.
Net income for the second quarter of fiscal 2011 improved to $3.0 million, or $0.15 per diluted share, compared to a net loss of $2.8 million, or $0.17 per share, in the year-ago quarter. This shift to profitability was driven by the increase in sales and improved margins in the Company’s wholesale and retail businesses.
What They Do: G-III is a leading manufacturer and distributor of outerwear, dresses, sportswear and women's suits under licensed brands, its own brands and private label brands.
Fuel Tech (Nasdaq: FTEK) $5.49. Today announced of air pollution control (APC) orders totaling $2.4 million. The largest of these orders was the award of a NOxOUT Selective Non-Catalytic Reduction (SNCR) project at an industrial plant in Guangzhou City, the capital of Guangdong Province. Equipment deliveries for this project, which is designed to satisfy nitrogen oxide (NOx) emission requirements in anticipation of the upcoming Asian Games, are scheduled for the third quarter of 2010.
The Company also received an award of two ULTRA™ systems for two small coal-fired units at a district heating plant in Beijing. District heating plants generate and distribute heat to satisfy residential and commercial heating requirements such as space heating and water heating. The impact on the environment of these smaller, but numerous, district heating units and cogeneration (heat and power) boilers remains a source of continued concern in China.
What They Do: Fuel Tech is a leading technology company engaged in the worldwide development, commercialization and application of state-of-the-art proprietary technologies for air pollution control, process optimization, and advanced engineering services. These technologies enable customers to produce both energy and processed materials in a cost-effective and environmentally sustainable manner.
Amerigon Incorporated (Nasdaq: ARGN) $10.34. Today announced that it has signed a three-year, exclusive agreement with Mattress Firm, Inc. providing Mattress Firm the rights to market throughout the continental U.S. a new suite of actively heated and cooled luxury mattresses using Amerigon's advanced TE technology. The mattress, which will provide individual controls to actively heat and cool each side of the mattress independently, is expected to be introduced this fall.
According to the International Sleep Products Association, 16.3 million mattresses were sold in the U.S. in 2009. Sales of mattresses, which sagged as the economy slumped, are expected to increase 4.5 percent this year and 6.3 percent in 2011.
What They Do: Amerigon develops products based on its advanced, proprietary, efficient thermoelectric (TE) technologies for a wide range of global markets and heating and cooling applications.
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