Iowa First Bancshares Corp. (OTCBB: IOFB) reported net income of $954,000 for the quarter ended December 31, 2010, compared to net income of $538,000 for the quarter ended December 31, 2009, an increase of $416,000 or 77.3%. The improvement in net income was primarily attributable to provisions for loan losses which decreased to $223,000 during the fourth quarter of 2010 compared to $950,000 during the fourth quarter of 2009. The stock has had no volume sadly and has been unchanged by midday of trading.
Iowa First Bancshares Corp. operates as the holding company for First National Bank of Muscatine and First National Bank in Fairfield, which provide commercial banking services to individuals and businesses in Iowa. The company generates various deposit products, including checking, savings, money market, and time deposit accounts, as well as individual retirement accounts; and originates loans comprising commercial, consumer, real estate, agricultural, and installment loans.
SeraCare Life Sciences, Inc. (NASDAQ: SRLS) has been relatively unchnanged. Company is planning to release its fiscal first quarter 2011 financial results during market hours. SeraCare executives will host a conference call at 8:30 A.M. Eastern Time on the same day to review first quarter results. Stock has fallen from $5.0 to $4.20 in January with moderate daily volume. However, company sees a better second half of 2011 with improved fundamentals.
SeraCare Life Sciences, Inc. serves the global life sciences industry by providing products and services to facilitate the discovery, development and production of human and animal diagnostics and therapeutics. The Company's portfolio includes diagnostic controls, plasma-derived reagents and molecular biomarkers, bio banking and contract research services. It operates two segments: Diagnostic and Biopharmaceutical Products, and BioServices.
America West Resources (OTCBB: AWSR) a domestic compliant coal producer with mining operations in Central Utah, today announced that Dan Baker, the Company's CEO, was recently featured on the online radio show "New Captains of Industry". During the interview, Baker recounts his reasons for leaving retirement to join America West Resources, a company he goes on to emphasize is a "diamond in the rough" and one "in a position to become one of the strongest producers of compliant thermal coal in Utah." Baker also delves into explaining the Company's historical challenges; current mine development strategy; the opportunity to fulfill up to $500 million in new multi-year coal supply contracts; and the plan for expanding coal production at the Horizon Mine to more than 100,000 tons per month within the next 12 months and up to "five to eight million tons annually" within the next three years, presuming appropriate financing is secured to allow for the introduction of longwall mining into the Company's operations.
Stock has risen today 10.5% with a very light volume of 6,500 shares traded by midday. Use caution entering this company, depsite its growth prospects, liquidity could be a problem when you're trying to sell your shares.
America West Resources, Inc. is engaged in the mining of coal. The majority of its coal is sold to utility companies for use in the generation of electricity. The Company operates the Horizon Mine located in Carbon County, Utah. The Horizon Mine is operated through its wholly owned subsidiary Hidden Splendor Resources, Inc.
Dreams Inc. (AMEX: DRJ) Dreams partners along with Chicago Bulls are to launch the team's official updated online store. DRJ, a vertically-integrated leader in the licensed sports products industry, announced that it has partnered with the Chicago Bulls to launch the team's official updated online store, shop.bulls.com. The deal marks Dream's second alliance with an NBA team following the successful web syndication with the Washington Wizards last year. The stock popped 3.79% or $0.10 to settle at $2.74 by midday with a light volume of 26,800 shares.
Dreams, Inc. is engaged in the business of manufacturing, distributing, retailing and selling of sports licensed products, memorabilia and acrylic display cases via multiple channels. The Company is also in the business of operating retail stores and Websites selling memorabilia and licensed sports products, as well as athlete representation and corporate marketing of individual athletes. The Company's customers are located throughout the United States of America.
Miller Petroleum Inc. (NASDAQ: MILL), a high growth oil and natural gas exploration, production and drilling company announced today that it has appointed KPMG LLP as the Company's registered independent public accounting firm replacing Miller's previous independent public accounting firm, Sherb & Co. LLP. The Company's Audit Committee approved the change in auditor. There could be numerous reasons why a company would want to change its accounting firm, so it's too early to speculate. However the shares have risen 0.5% or $0.03 with a moderate volume of 98K.
Miller Petroleum, Inc. is an independent exploration and production company that utilizes seismic data and other technologies for geophysical exploration and development of oil and gas wells in the Appalachian region of eastern Tennessee and the Cook Inlet Basin in south central Alaska. In addition to its engineering and geological capabilities, the Company provides land drilling services on a contract basis to customers primarily engaged in natural gas exploration and production.
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Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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