Titan International Inc. (NYSE:TWI) reported Second Quarter 2011 Results: Second quarter summary: Sales for second quarter 2011 set an all-time record at $404.4 million up 76 percent, compared to $229.7 million in the second quarter of 2010. Gross profit for second quarter 2011 was record-setting at $63.9 million up 88 percent, compared to $33.9 million in 2010. Second quarter income from operations was a record $44.0 million up 152 percent, compared to $17.4 million last year. Net income for the second quarter set a record at $25.3 million, compared to $4.6 million in the second quarter of last year. Earnings per common basic share for the second quarter were $0.60 per share up 362%, compared to $0.13 in the second quarter of last year.
Titan International, Inc. and its subsidiaries manufacture wheels, tires, and assemblies for off-highway vehicles used in the agricultural, earthmoving/construction, and consumer markets in the United States.
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Cleantech Transit, Inc. (CLNO)
Biomass is any living or recently living material which can function as a source for renewable, sustainable, useful energy. Examples of biomass "feedstock" are agricultural and forest residues, wastes from municipal or industrial sources, and crops grown specifically for energy purposes.
There are a number of advantages to using biomass as a source of energy:
*Biomass reduces waste disposal problems, when it is in the form of agricultural or forest residues (e.g. straw, small trees, undergrowth), municipal wastes or other material which would otherwise be thrown away.
*Biomass, when gathered or harvested in a way which is renewable and sustainable, provides a "net zero" change in carbon dioxide, an important greenhouse gas.
*Biomass is a domestic fuel, providing improved energy security and countering dependence on foreign sources of fossil fuels.
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects.
Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company's manufacturing clients worldwide.
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company's ability to earn in 25% of the 500KW Merced Project.
The Company 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 they move ahead.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
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IMAX Corporation (NYSE:IMAX) reported another strong quarter for theatre signings and a record number of theatres in its backlog; however, disappointing film performance coupled with investments in the growth of the business resulted in adjusted net income of $4.6 million, or $0.07 per diluted share, versus adjusted net income of $8.4 million, or $0.13 per diluted share, in the same period last year. Adjusted net income excludes any charges related to the change in the value of the Company's variable stock compensation and the deferred tax provision. Reported net income for the second quarter of 2011 was $1.8 million, or $0.03 per diluted share, versus second quarter 2010 reported net income of $13.3 million, or $0.20 per diluted share. Second quarter 2011 adjusted EBITDA was $16.2 million, even with adjusted EBITDA of $16.3 million in the second quarter of 2010. Total revenues for the second quarter of 2011 increased 3% to $57.2 million, compared to $55.6 million in the prior-year quarter.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company worldwide.
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WellCare Health Plans, Inc. (NYSE:WCG) reported results for the second quarter ended June 30, 2011. As determined under generally accepted accounting principles ("GAAP"), net income for the second quarter of 2011 was $69.6 million, or $1.61 per diluted share, compared with a net loss of $128.9 million, or $3.05 per diluted share, for the second quarter of 2010. The 2010 second quarter net loss arose principally due to $256.5 million of pre-tax charges associated with the previously disclosed government investigations and related litigation. Adjusted net income for the second quarter of 2011 was $76.7 million, or $1.77 per diluted share, compared with $38.6 million, or $0.90 per diluted share for the second quarter of 2010.
WellCare Health Plans, Inc. provides managed care services for government-sponsored healthcare programs in the United States.
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Fabrinet (NYSE:FN), a provider of precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, announced that it will release its fourth quarter and fiscal year 2011 financial results for the period ended June 24, 2011 after market close on Monday, August 15, 2011. On that day, management will hold a conference call and webcast at 5:00 p.m. ET to review and discuss the Company's results for the fourth quarter and fiscal year 2011. A recorded version of this webcast will be available approximately two hours after the call and accessible at http://investor.fabrinet.com/.
Fabrinet provides precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers (OEMs) of complex products, such as optical communication components, modules and sub-systems, industrial lasers, and sensors.
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(TWI, CLNO, IMAX, WCG, FN) Notable Stocks by BestOtc.com
August 4th, 2011 at 09:06 am