Iteris, Inc. (AMEX:ITI) is a leader in traffic management focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion, and improve the safety of surface transportation systems infrastructure. Combining outdoor image processing, traffic engineering, and information technology, Iteris offers a broad range of Intelligent Transportation Systems solutions to customers worldwide.
Iteris, Inc., a leader in traffic management solutions, reported financial results for its fiscal third quarter ended December 31, 2011. Net sales and contract revenues for the third quarter totaled $14.9 million, up 24% from $12.0 million in the same year-ago quarter, which was primarily due to a 53% increase in Transportation Systems contract revenues. The company grew organic net sales and contract revenues by 10% compared to the year-ago quarter, with the remaining growth provided by the acquisitions of Meridian Environmental Technology (MET) in January 2011 and Berkeley Transportation Systems (BTS) in November 2011.
Gross margin in the third quarter was 36.7% or $5.5 million, compared to 40.9% or $4.9 million in the year-ago quarter. Gross margin in the current quarter was impacted by a shift in mix toward Transportation Systems consulting contracts. Gross margin on product net sales decreased for the quarter to 50.5%, compared to 52.1% in the year-ago quarter.
For more information about Iteris, please visit www.iteris.com
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Republic First Bancorp, Inc. (NASDAQ:FRBK), the holding company for Republic Bank, announced its financial results for the quarter and year ended December 31, 2011. The Company completed the transformation of its balance sheet through the sale of $59.0 million of commercial real estate loans and foreclosed properties to a single investor. This sale substantially reduced non-performing asset balances and immediately improved credit quality metrics during the period. Income from operations was approximately $1.3 million for the three month period ended December 31, 2011 compared to $0.2 million for the three month period ended December 31, 2010. The Company reported a loss from operations of $1.7 million for the twelve month period ended December 31, 2011 compared to a loss from operations of $16.8 million for the twelve month period ended December 31, 2010. Please refer to “Non-GAAP Financial Measures” below for a reconciliation of GAAP to non-GAAP items.
Republic First Bancorp, Inc. operates as the holding company for Republic First Bank that offers banking services to individuals and businesses.
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Global Hunter Corp. (GBLHF)
Global Hunter’s focus is on strategic and base metals, with an advanced stage copper oxide project in Chile and a highly prospective molybdenum property in British Columbia, Canada. GBLHF teams are working on developing the Corona de Cobre property in Chile and the Rabbit south property in British Columbia.
Global Hunter Corp. (GBLHF.PK) is pleased to announce initial assay results from its previously announced surface sampling program. The results are encouraging with new gold showings as well as very positive copper oxide assays over wide-spread areas.
Highlights of the entire program
9 mineralized shear and/or alteration zones sampled total of 13.5 kilometers of strike length along know copper bearing shear and alteration zones tested with 205 rock chip samples
Good grades of soluble copper (oxide) over a significantly large area have been identified; however they represent only about 50% of the total copper grade indicating a mixed oxide-sulphide zone. Numerous iron oxide structures have also been mapped but no iron assays have been received to date.
The Company is planning to re-assay samples for iron to determine if iron is present in significant quantities to represent another target.
Copper comes under the category of transition metals and holds the 28th position in the periodic table. It is reddish brown in color but its salts often impart a turquoise color. It is highly ductile which means it can be drawn and stretched into wires. Copper has a high thermal and electrical conductivity.
For more information, please visit their website: http://www.globalhunter.ca/
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First California Financial Group, Inc. (NASDAQ:FCAL), the holding company of First California Bank, reported net income for the full year ended December 31, 2011 of $23.4 million, the highest earnings in the company’s history. For the 2010 full year, net income was $1.4 million. Net income available to common shareholders for 2011 was $20.8 million, or $0.71 per diluted share, compared with $160,000, or $0.01 per diluted share, for the prior year. Preferred dividends were $2.6 million for 2011 compared with $1.3 million for 2010. 2011 preferred dividends included a $1.1 million deemed dividend in connection with the redemption of Company’s series B preferred shares. At December 31, 2011, tangible book value per common share was $4.19, a 15 percent increase from year-end 2010. For the 2011 fourth quarter, net income was $2.9 million compared with $1.1 million for the same quarter a year ago. Net income available to common shareholders was $2.5 million, or $0.09 per diluted share, compared with $767,000, or $0.03 per diluted share, for the 2010 fourth quarter. Preferred dividends were $312,500 for each of the fourth quarters of 2011 and 2010.
First California Financial Group, Inc. operates as the holding company for First California Bank, which provides commercial banking services to individuals, professionals, and small- to mid-sized business in California.
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Encore Bancshares, Inc. (Nasdaq:EBTX) reported fourth quarter 2011 net earnings of $2.1 million, or $0.17 per diluted common share and full-year net earnings of $7.2 million or $0.11 per diluted common share after deducting preferred dividends for each period. or the three months ended December 31, 2011, our net earnings were $2.1 million, compared with a net loss of $0.9 million for the same period of 2010. Earnings per diluted common share for the fourth quarter of 2011 were $0.17, compared with a loss per diluted common share of $0.13 for the same period of 2010, after deducting preferred dividends for each period.
Encore Bancshares, Inc. operates as a holding company for the Encore Bank, which provides banking, investment management, financial planning, and insurance services to privately owned businesses, professional firms, investors, and individuals.
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