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Telular Corporation (Nasdaq: WRLS) Trading at $5.72, Up $1.67. Announced Thursday after market close financial results for the fourth fiscal quarter ended September 30, 2010. In the fourth quarter, Telular reported revenue of $12.0 million and pre-tax income of $1.4 million.
Telular also announced today that its Board of Directors had approved a special one-time cash dividend of $1.00 per share of common stock and initiated a quarterly dividend of $0.10 per share of common stock. The special one-time cash dividend will be payable on November 22, 2010 to shareholders of record on November 15, 2010 and the quarterly dividend will also be payable on November 22, 2010 to shareholders of record on November 15, 2010. Additional information on the dividend actions are detailed in a separately issued press release.
During the quarter, the Company activated 19,000 new Telguard subscribers, bringing the total number of Telguard subscribers to approximately 568,000. For TankLink, the Company also increased the number of billable tanks to 18,700.
What They Do: Telular Corporation provides event monitoring and wireless access solutions for business and residential customers, enabling security systems and other industrial applications to utilize wireless technology.
iGo, Inc. (Nasdasq: IGOI) Trading at $2.81, Up $0.73. Announced Thursday after market close financial results for the third quarter ending September 30, 2010. Net income was $51,000, or $0.00 per share, in the third quarter of 2010, compared with net income of $318,000, or $0.01 per share, in the same quarter of the prior year.
Revenue was $12.2 million in the third quarter of 2010, compared to $9.7 million in the second quarter of 2010 and $12.0 million in the same period of the prior year. The Company’s financial position remained strong at $31.7 million in cash, cash equivalents, and short-term investments, $7.3 million in working capital and no debt as of September 30, 2010.
What They Do: iGo offers a full line of innovative accessories for mobile electronic devices, including a variety of proprietary power, protection and audio solutions.
Asia Entertainment & Resources Ltd. (Nasdaq: AERL) Trading at 9.95, Up $1.88. Today announced the results of its warrant redemption, which concluded on October 28, 2010. The ordinary share purchase warrants were originally issued by AERL, which was formerly known as CS China Acquisition Corp. (“CS China”), in connection with CS China’s initial public offering in August 2008.
Of the 14,648,000 warrants outstanding and available for exercise, 7,095,790 non-insider warrants were exercised at US$5.00, raising gross proceeds of approximately $35.5 million for AERL, while 3,944,210 non-insider warrants expired unexercised, and the holders of these warrants were paid US$0.01 per warrant upon their extinguishment. 3,608,000 were considered insider warrants, and 3,505,771 of these warrants were submitted for cashless exercise into 1,343,050 shares. Of these new shares, 1,296,976 shares (or approximately 97% of new shares) are restricted until October 28, 2011.
As of October 28, 2010, AERL has ordinary shares issued and outstanding of approximately 21.0 million. The Company intends to use the proceeds from the warrant redemption to continue the expansion of its VIP room gaming business. In addition, AERL is announcing preliminary guidance for 2011. Pending the completion of the acquisition of King’s Gaming Promotion Limited, the VIP room gaming promoter that operates at the Venetian Macao-Resort-Hotel on the Cotai Strip, AERL is expecting 2011 Rolling Chip Turnover of US$1.15 billion per month and full year net income of US$55-60 million.
What They Do: AERL, formerly known as CS China Acquisition Corp., acquired AGRL on February 2, 2010. AGRL is an investment holding company of subsidiaries that, through profit interest agreements with affiliated companies known as VIP gaming promoters, are entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms.
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