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Full House Resorts (AMEX: FLL) $3.94. Announced Monday after market close results for the three-month and full year periods ended December 31, 2010. Net income attributable to the Company for the three months ended December 31, 2010 was $2.0 million, or $0.11 per common share, compared to $1.0 million, or $0.06 per common share, in the prior-year period. Excluding a $0.7 million impairment charge in the fourth quarter of 2009, net income per common share in the fourth quarter of 2009 was $0.08.
“2010 was a banner year for Full House with record revenues and earnings per share, as well as the announcement of our pending acquisition of the Grand Victoria Casino and Resort,” said Andre Hilliou, Chairman and Chief Executive Officer of Full House. “FireKeepers continues to perform admirably, with the casino generating approximately $24.5 million in management fees in 2010, and seeing a 37% year-over-year increase in management fees in the fourth quarter alone. In addition, we are within a few weeks, pending final regulatory approvals, of officially adding the Grand Victoria to the Full House family, which we believe will be a significant driver of long-term value for our shareholders.”
What They Do: Full House owns, develops and manages gaming facilities. The Company has a management agreement with the Nottawaseppi Huron Band of Potawatomi Indians for FireKeepers Casino in Battle Creek, Michigan with approximately 2,700 gaming devices, 78 table games and a 120-seat poker room. The FireKeepers Development Authority recently announced the development of a 242-room resort-style hotel including a special events center, a full service restaurant and an expanded bingo facility.
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BroadSoft, Inc. (Nasdaq: BSFT) $34.90. Announced Monday after market close financial results for the quarter and year ended December 31, 2010.
Total revenue rose to a record $35.8 million in the fourth quarter of 2010, an increase of 85% compared to $19.3 million in the fourth quarter of 2009 and an increase of 61% compared to $22.3 million in the third quarter of 2010.
Net income for the fourth quarter of 2010 was $11.2 million, or $0.41 per diluted common share, compared to net income of $0.4 million, or $0.05 per diluted common share in the fourth quarter of 2009. GAAP results for the fourth quarter of 2010 included $0.8 million of non-cash stock-based compensation expense and $0.2 million of amortization expense related to acquired intangible assets.
What They Do: BroadSoft provides software that enables fixed-line, mobile and cable service providers to deliver voice and multimedia services over their IP-based networks.
Liberty Energy Corp. (OTCBB: LBYE) $0.51. Announced last week that it executed a memorandum of understanding to acquire new acreage in both Caldwell and Travis Counties, Texas. The Company is pleased to announce that it has signed a memorandum of understanding to acquire an estimated 400 acres in Caldwell and Travis Counties. The Company intends to conduct further geological and geophysical surveys to complete the plan of development for this project.
The Lower Cretaceous Reef Prospect that the Company proposes to acquire, had one well, which is currently plugged, drilled into the reef complex in the 1950's. At that time, it showed excellent thickness, porosity and permeability. Hydrocarbon indications in the upper portion of the reef demonstrate that oil stains are contained within sidewall core. Geophysical surveys further indicate an early Cretaceous shelf edge on which the reef was originally formed. The Company intends to drill on the shelf edge in the optimum 'reef forming' environment to maximize the potential of this prospect.
What They Do: Liberty Energy Corp is an Independent Oil and Gas Exploration and Production Company dedicated to the sourcing and production of fuel supplies in the United States and Europe. Headquartered in Houston, Texas, the company has leases and royalties in both Texas and Bulgaria, covering several wells with extensive potential for future development. In Texas, four leases -- Dahlstrom, Ratliff, and two at Lockhart Northeast -- are identified as rich oil and gas sites based around numerous geological pay zones. In North-West Bulgaria, Liberty has royalty rights to a 1,000,000+ acre natural gas property (the A-Lovech exploration block), an area of high quality, low- sulphur natural gas condensate. Through this combined international reach and domestic focus, Liberty Energy is committed to the development of U.S. fuel reserves while seeking out further opportunities for the global energy markets.
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