| Implant Sciences Corporation Announces Fiscal 2008 First Quarter Results
Implant Sciences Corporation (AMEX: IMX) today announced financial results for its first quarter of fiscal 2008 which ended September 30, 2007. The Company�s financial condition and results of operations are based on continuing operations, which exclude the financial condition and results of operations of Accurel Systems International ("Accurel�), due to the sale of substantially all of the assets of this subsidiary on May 1, 2007. Total revenues for the three months ended September 30, 2007 were $3,218,000 as compared to $3,264,000 for the comparable prior year period, a decrease of $46,000 or 1%. The decrease in total revenues for the quarter ended September 30, 2007 is primarily attributable to the loss of the Company�s primary orthopedics coatings customer during the second quarter of fiscal 2007 combined with the sale of certain assets related to the radioactive prostate seed business during the fourth quarter of fiscal 2007.
Zoo Says It Helped Bring $125 Million To Community
CINCINNATI -- The Cincinnati Zoo said it was responsible for pumping nearly $125 million into the local economy last year. Officials want to get that word out, since residents might be voting on a levy to help support the zoo in about four months. The zoo gets about $6 million a year from Hamilton County taxpayers. .
Royal Bank takes $360M charge on subprime, softens impact with $325M Visa gain
TORONTO - Royal Bank of Canada (TSX:RY) says it will record a $360-million charge related to losses in the U.S. subprime mortgage market, but will also post a $325-million gain for Visa credit card restructuring. Canada's largest bank said Tuesday it "expects its fourth-quarter earnings to be only modestly affected by these items due to largely offsetting impacts." The charge comes to about $160 million after tax, including compensation adjustments. Royal will record the charge on collateralized debt obligations and residential mortgage-backed securities in its capital markets segment, and the gain in its banking segment. After tax, the Visa gain amounts to about $270 million but will be partly offset by a $120-million pretax charge, or $80 million after tax, relating to an increase in its customer loyalty reward program liability.
Meta Financial Group, Inc. (R) Increases Reported Earnings for First, Second, and Third Quarters of Fiscal Year 2007
STORM LAKE, Iowa, Nov. 16 /PRNewswire-FirstCall/ -- Meta Financial Group, (Nachrichten) Inc. (the "Company") reported today that the Audit Committee of its Board of Directors has determined to restate its earnings results for the first three quarters of Fiscal Year 2007. First, earnings increased for each of the three quarters for fee income which was not properly recognized on a portfolio of prepaid gift cards. In addition, on November 14, 2007, the Company was informed by its independent accountants that, as a result of their consultation with their regulatory authorities, an additional loan loss provision recorded in the quarter ending December 31, 2006 should be recorded in the previous quarter ending September 30, 2006. In total, Fiscal Year 2007 year-to-date net income through June 30, 2007 increased by $834,000, or $0.33 per diluted share, from a loss of $239,000, or $0.10 per diluted share, to net income of $595,000, or $0.23 per diluted share.
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