Wipro Ltd. (NYSE:WIT) announced financial results under International Financial Reporting Standards (IFRS) for its fourth quarter and year ended March 31, 2011. Highlights of the Results: Results for the Quarter ended March 31, 2011: IT Services Revenue was $1,400 million, a sequential increase of 4.2% and YoY increase of 20.1%. Non-GAAP constant currency revenue was $1,391 million. Total Revenues were Rs.83.02 billion ($1.86 billion(1)), an increase of 18% YoY. Net Income was Rs.13.75 billion ($309 million(1)), an increase of 14% YoY. Non-GAAP Adjusted Net Income was Rs.13.68 billion ($307 million(1)), an increase of 13% YoY. IT Services Revenues were Rs.62.89 billion ($1,412 million(1)), an increase of 20% YoY. IT Services Earnings Before Interest and Tax (EBIT) was Rs.13.88 billion ($312 million(1)), an increase of 9% YoY. Our Operating Income to Revenue for IT Services was 22.1% for the quarter.Wipro declares final dividend of Rs.4 ($0.09(1)) per share/ADS, taking the total dividend declared during the year to Rs.6 ($0.13(1)) per share/ADS.
Wipro Limited provides information technology (IT) products and services, and consumer care and lighting products primarily in India, the United States, and Europe. The IT Services segment provides IT and IT enabled services, including software application development, application maintenance, research and development services for hardware and software design, data center outsourcing services, and business process outsourcing services.
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Orofino Gold Corp. (ORFG)
Orofino Gold Corp is a Colombia based gold producer that focuses on discovery, acquisition, and expansion of mineral-rich resource deposits primarily in the Americas. Orofino Gold Corp was founded as a private company in 2009 by former executives with over 50 cumulative years in mining exploration, finance, and development expertise.
Orofino Gold Corp’s strategy is to become a recognized player in the Colombia mining sector began with the acquisition of the La Azul/La Estrella property in the Senderos de Oro region of Colombia, a Northern extension of South America’s highly mineralized Andes Mountain Range. Development of this property has included acquisition of concessions for the surrounding lands, including adding the San Carlos and Culo Alzado properties, detailed analysis of historic geological and cultural records of the area, and regular mineral analysis of newly obtained resource samples.
In addition, Orofino Gold Corp has acquired a database comprised of exploration and mining results from previous operators who left as a result of pre-21st century regional civil and economic instability.
Orofino Gold Corp’s corporate objective is to continue to build shareholder value through the exploration and development of Senderos de Oro and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years. Orofino Gold Corp. has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
Gold’s ability to conduct electricity and facilitate connectivity has been known for decades. Since the 1930s it has been used in telecommunications equipment from fuses to switches. Just about anything electronic contains gold circuits. The microchips in computers, cell phones, even that little locator chip embedded under your pet’s skin contains gold. It is common to find 24 ct gold plated electrical adapters and plugs for audio and video cables.
Gold is used as a chemical catalyst; tiny gold particles are used in industrial settings to provide a cleaning mechanism for chemical reactions. It is important for pollution control, energy production and food production
Orofino Gold Corp. is pleased to announce the appointment of Dr. Hans Bocker as the new Chairman of the Board. The Company held a Board meeting dated April 5, 2011, to initiate certain corporate changes to the existing members of the Board of Directors. The Board of Directors unanimously appointed Dr. Hans Bocker as the new Chairman of the Board, and the former Chairman, Mr. Ning Shi Long, resigned as Chairman due to personal obligations, but will remain as a member of the Board of Directors.
Dr. Hans J. Bocker is an internationally recognized academic advisor. His expertise encompasses fundamental organizational and operational logistics including production and operations management, purchasing and procurement, safety, loss control, quality management, international management, cross-cultural management, transportation and traffic logistics, and leadership training for executives.
In addition to his logistical expertise, Dr. Bocker is also an internationally recognized gold expert. He recently published a book on gold titled Freedom Through Gold which has sold out in several languages. He is also a published journalist with over 2000 publications.
On behalf of the Board of Directors, the Company wishes to extend their gratitude to Mr. Ning Shi Long for his commitment and efforts as past Chairman of the Board.
For more information on Orofino Gold Corp., visit http://www.orofinogold.com
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TrueBlue, Inc. (NYSE:TBI) reported revenue for the first quarter of 2011 of $274 million, an increase of 14 percent compared to revenue of $240 million for the first quarter of 2010. Net income for the quarter was $0.8 million or $0.02 per diluted share, compared to a net loss of $2.3 million or $0.05 per diluted share for the first quarter of 2010. “Our team continues to do an outstanding job in serving the needs of our customers,” said TrueBlue CEO Steve Cooper. “We experienced broad-based demand for our services with double-digit growth across most industries we serve. Businesses are increasingly turning to our blue-collar staffing solutions to increase the efficiency of their workforce.” For the second quarter of 2011, TrueBlue estimates revenue in the range of $315 million to $325 million and net income per diluted share for the quarter of $0.15 to $0.20.
TrueBlue, Inc. provides temporary blue-collar staffing services. Its supplies general laborers on demand under the Labor Ready brand; workers to the light industries, including manufacturing, logistics, and warehousing under the Spartan Staffing brand; skilled trades people to the commercial construction industries under the CLP Resources brand; skilled staff to the aviation maintenance, repair and overhaul, aerospace, manufacturing, and assembly industries under Plane Techs brand name; and truck drivers and logistics personnel to the transportation and distribution industries under the Centerline brand.
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Cleantech Transit Inc (CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. Cleantech Transit Inc has expanded its focus to invest directly in specific green projects that could maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech Transit Inc. has selected to invest in Phoenix Energy. (www.phoenixenergy.net).
Cleantech Transit Inc. is in the business of producing and conserving power. It produces and sells clean electricity globally, with a focus on sustainable energies using renewable resources such as Geothermal, Solar and Wind.
Renewable energy is an energy produced from easily-replenished sources like the sun, wind, water, biological and geothermal processes. Compared to fossil fuels and coals, these natural resources are usually referred to as clean forms of energy since they do not produce harmful emissions and polluting agents into the atmosphere and thus have a very minimal environmental impact during the process of production which is a very good factor in the preservation of our environment.
Wind energy has been used by people for various day to day purposes. Wind energy can be trapped by the use of wind mills, and can be used for the manufacture of electricity, with the help of wind turbines. As wind power is a renewable energy, it is considered as a better option instead of traditional energy resources like fossil fuels. Wind power is the most efficient among the renewable energy resources.
Cleantech Transit Inc announced that funding to be provided to Phoenix Energy for the commercialization of a 500 Kilowatt biomass gasification plant should be eligible to apply for a renewable energy cash back incentive program offered by the U.S. Federal Government. If it concludes its planned investment in Phoenix Energy, under Section 1603 of the American Reinvestment and Recovery Act, Cleantech Transit will be entitled to receive its pro-rata share of 30% cash grant payments. Once the final interconnect process and applications are complete the grant should be received within 60 days.
Using biomass power replaces the need to burn coal to generate electricity. Additionally, the use of biomass power also reduces the need for oil to mine and deliver coal too far off power stations, thereby significantly reducing greenhouse gas emissions. Most surprisingly, using wood waste as fuel is actually more beneficial to the environment than allowing it to decompose naturally, because of the elimination of methane during combustion.
For more information about CLNO, visit www.cleantechtransitinc.com
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AutoNation Inc. (NYSE:AN) reported 2011 first quarter net income from continuing operations of $70 million or $0.46 per share, compared to net income from continuing operations of $59 million or $0.34 per share for the same period in the prior year, a 35% improvement on a per-share basis. 2011 first quarter revenue totaled $3.3 billion, compared to $2.8 billion in the year-ago period, an increase of 17%, driven primarily by stronger retail new and used vehicle revenue which increased 19%. AutoNation’s new vehicle unit sales increased 20% on a same store basis and 23% overall which were in line with the industry according to CNW research data.
AutoNation, Inc., through its subsidiaries, operates as an automotive retailer in the United States. It offers various automotive products and services, including new vehicles, used vehicles, parts, automotive repair and maintenance services, and automotive finance and insurance products.
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