Tenneco Inc. (NYSE:TEN)
Tenneco Inc. is one of the world’s largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive and commercial vehicle original equipment markets and the aftermarket. Tenneco markets its products principally under the Monroe®, Walker®, Gillet™ and Clevite®Elastomer brand names.
TEN announced second quarter net income of $50 million, or 81-cents per diluted share, versus net income of $40 million, or 66-cents per diluted share in second quarter 2010. Adjusted for the items below, net income was $50 million, or 81-cents per diluted share, compared with $38 million, or 62-cents per diluted share a year ago. The tables in this press release reconcile GAAP results to non-GAAP results.
Total revenue in the quarter rose to $1.888 billion up 26% from $1.502 billion in second quarter 2010. Value-add revenue (revenue minus substrate pass thru sales) was $1.453 billion, a 21% increase versus $1.198 billion a year ago. Industry light vehicle production was up 2% year-over-year in Tenneco’s operating regions. The revenue increase was driven by higher OE light vehicle production volumes; the launch of new commercial vehicle emissions control business, which drove a 64% year-over-year increase in commercial and specialty OE revenue; and an increase in global aftermarket sales.
For more information about Tenneco Inc. please visit http://www.tenneco.com/
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Adventrx Pharmaceuticals, Inc (AMEX:ANX) announced the appointment of Gregory D. Gorgas as Senior Vice President, Commercial. Mr. Gorgas brings more than 25 years of experience in drug product commercialization, with an emphasis in launching new products, building commercial infrastructure and leading start-up operations. He was a key contributor to the blockbuster success of Rituxan® while at Biogen Idec, where most recently he led global marketing for the oncology franchise.
ADVENTRX Pharmaceuticals, Inc., specialty pharmaceutical company, focuses on acquiring, developing, and commercializing proprietary product candidates.
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Cleantech Transit, Inc. (CLNO.OB)
With rising fossil fuel prices and growing environmental concerns, biomass energy systems are revitalizing their positions in schools, factories, military bases, and community energy plants.
Cleantech Transit, Inc. previously announced it has completed an agreement whereby it can earn a larger ownership percentage in the 500 KW bio mass Merced Project than previously announced.
CLNO can now earn in up to 40% of the Merced Project up from the original 25% the Company announced. The 40% ownership stake will be based on the total cost incurred to the Project to date, in addition Cleantech can invest the in the Series B shares of Phoenix Energy equal to or greater to the direct investment made in 500 KW project.
Also Cleantech Transit, Inc. previously reported it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
Cleantech Transit, Inc. is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as we move ahead.
For more information about this company please visit http://www.cleantechtransitinc.com
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American Shared Hospital Services (AMEX:AMS) announced that the Gamma Knife® system it supplied to Baskent University, Adana, Turkey under a contract announced in March 2011 has begun treating patients, including 11 patients treated in just the first week of clinical operations–the highest start-up volume of any Gamma Knife in AMS’ 20-year history. The Kisla Campus of Baskent University houses the largest and most modern oncology center in the Adana region, now including both a Gamma Knife and two linear accelerator devices used for radiation therapy. Baskent University has a total of 561 hospital beds.
American Shared Hospital Services, together with its subsidiaries, provides Gamma Knife stereotactic radiosurgery equipment, and radiation therapy and related equipment in the United States.
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Neoprobe Corp (AMEX:NEOP) announced it would report its financial results for the second quarter of 2011 on Wednesday, July 27, 2011 after market close. The announcement will be followed by a conference call with the investment community the following day, Thursday, July 28 at 8:30 am ET.
Neoprobe Corporation, a biomedical company, engages in the development and commercialization of surgical and diagnostic oncology products that enhance patient treatment by meeting the critical decision making needs of physicians in the United States and internationally.
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