News / Finance
AMEX - Afternoon Losers - Trans-Lux Corp,TLX - BMB Munai, Inc,KAZ - US Geothermal Inc.,HTM
Trans-Lux Corporation - BMB Munai, Inc - U.S. Geothermal Inc.
Trans-Lux Corp,TLX
Trans-Lux Corporation, a top supplier of programmable electronic displays, reported their financial results for the first quarter of 2009. Trans-Lux President and Chief Executive Officer Michael R. Mulcahy made the announcement.
Revenues totaled $7.8 million for the first quarter, compared with $8.0 million during the same period last year. Trans-Lux recorded a net loss for the quarter of $1.2 million (-$0.50 per share), compared with a loss of $1.2 million (-$0.52 per share) in the prior year. Cash flow, as defined by EBITDA, was $807,000, compared with $813,000 in 2008. General administrative expenses were down for the quarter from last year as a result of reduced operating costs and depreciation expense.
"We plan to maintain our commitment to improving operational efficiencies and containing operating costs in light of the current economic environment," said Mr. Mulcahy. "We believe that strategic engineering investments and key product improvements will ensure that we continue to deliver the high quality displays that our customers expect."
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BMB Munai, Inc,KAZ
BMB Munai, Inc., is an independent oil and natural gas company that engages in the exploration, development, acquisition, and production of crude oil and natural gas properties in the Republic of Kazakhstan. As of March 31, 2008, it had approximately 10,784 thousand barrels of oil, condensate, and natural gas liquids in reserves. The company was founded in 2003 and is based in Almaty, Kazakhstan with an additional office in Salt Lake City, Utah.
Directors and Executives of BMB Munai are prominent individuals in Kazakhstan, Russia and United States with extensive experience in Oil & Gas industry and Finance. The Company is well positioned to access additional oil and gas properties, attractive debt financing, favorably priced drilling and well services, and to build up strong local exploration and production staff.
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US Geothermal Inc.,HTM
U.S. Geothermal Inc., a renewable energy company focused on the production and sale of electricity from geothermal energy, announced today that it has been selected by the U.S. Department of Energy ("DOE") to enter into due diligence review on an $85 million project loan for its Neal Hot Springs project in eastern Oregon. The DOE loan is expected to provide 80% of the $106 million estimated total capital cost. Construction of a binary cycle power plant utilizing significantly improved technology is expected to begin in mid 2010. The new plant, designed to deliver 22 megawatts ("MW") of power net to the grid, is scheduled to begin commercial operations in late 2011. The DOE loan is anticipated to be a combined construction and long term loan and provide the project with a low cost annual interest rate.
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