Delivery Technology Solutions, Inc. (Pinksheets:DTSL), the leader in delivery management technology, has completed participation at one of the largest restaurant franchisee conventions, held July 22-25, 2010. Its UDS division attended the convention by invitation of the leading franchisor, and was able to showcase its large corporate catering and event management delivery technology platform to many of the thousands of convention attendees, and a range of other potential partners in the industry and associated industries.
Over the three-day event the company was successful in signing up franchisees that own thousands of locations, and multiple-territory development agents who represent thousands more. These signed prospects will be contacted by the franchisor and UDS to offer them optional programs to expand their customer base, increase sales and build new profits for their restaurants. Qualified franchisees are enrolled in the optional programs, and then UDS proprietary software is implemented at their unit, so orders may be received from the UDS Call Center and Online Ordering technology.
Delivery Technology Solutions, Inc., is the leader in providing comprehensive custom-developed catering/delivery solutions to industries throughout North America, including restaurants, retail and others. The company's solutions offer a seamless system that integrates Customer Relationship Management (CRM) and Call Center IT services through a proprietary technology backbone to offer convenience, consistent quality, flexibility, accountability and value for consumers and companies.
Artio Global Investors Inc. (NYSE:ART) reported preliminary month-end assets under management of $49.9 billion as of August 31, 2010, compared to $51.3 billion as of July 31, 2010.
Artio Global Investors Inc. is the indirect holding company of Artio Global Management LLC ("Artio Global Management"), a registered investment adviser headquartered in New York City that actively invests in global equity and fixed income markets, primarily for institutional and intermediary clients.
Best known for International Equities, Artio Global Management also offers a select group of other investment strategies, including High Grade Fixed Income, High Yield and Global Equity, as well as a series of US Equity strategies. Access to these strategies is offered through a variety of investment vehicles, including separate accounts, commingled funds and SEC-registered mutual funds.
Since 1995, Artio Global investment professionals have built a successful long-term track record by taking an unconventional approach to investing. Based on a philosophy of style-agnostic investing across a broad range of opportunities, Artio Global has consistently pursued a global approach that they believe provides critical insights, thereby adding value for clients over the long-term.
Asbury Automotive Group, Inc. (NYSE:ABG), one of the largest automotive retail and service companies in the U.S., reported income from continuing operations for the second quarter 2010 of $13.7 million, or $0.42 per diluted share, versus income from continuing operations of $6.6 million, or $0.20 per diluted share, in the corresponding period last year. Last year's results included a charge of $1.2 million, net of taxes, of non-core items in SG&A, or $0.04 per diluted share. The increase was primarily the result of 13% growth in revenues and gross profit from new and used light vehicle sales and finance and insurance ("F&I") as well as benefits achieved from the Company's leaner cost structure. Net income for the second quarter 2010 totaled $12.8 million, or $0.39 per diluted share, compared with $5.5 million, or $0.17 per diluted share, in the prior year period.
Second quarter 2010 revenues totaled $1.1 billion, an increase of 13% compared to the prior year. This improvement was driven by increases of 14% in new vehicle revenue, 18% in used vehicle revenue, and 35% in F&I revenues. Gross profit increased 13% and was up in all major areas of the business.
For the six-month period ended June 30, 2010, the Company reported income from continuing operations of $22.7 million, or $0.69 per diluted share, compared to $9.2 million, or $0.28 per diluted share in the prior year period. Last year's results included a net charge of $1.2 million, net of taxes, of non-core items in SG&A, or $0.04 per diluted share. The Company's revenues totaled $2.0 billion, an increase of 15% compared to $1.8 billion in the prior year period. Net income for the six-month period ended June 30, 2010 was $20.2 million, or $0.62 per diluted share compared to $5.8 million or $0.18 per diluted share for the prior year period.
Ashford Hospitality Trust, Inc. (NYSE: AHT) reported the following results and performance measures for the second quarter ended June 30, 2010. The proforma performance measurements for Occupancy, Average Daily Rate (ADR), revenue per available room (RevPAR), and Hotel Operating Profit (or Hotel EBITDA) include the Company's 101 hotels owned and included in continuing operations as of June 30, 2010. Unless otherwise stated, all reported results compare the second quarter ended June 30, 2010, with the second quarter ended June 30, 2009.
* Unrestricted cash at the end of the quarter was $174.9 million
* RevPAR increased 4.5% for the quarter for the hotels not under renovation
* Operating profit margin increased 195 basis points for all hotels
* Net income attributable to common shareholders was $2.0 million, or $0.06 per diluted share, compared with net loss attributable to common shareholders of $165.9 million, or $2.34 per diluted share, in the prior-year quarter
* Adjusted funds from operations (AFFO) was $0.46 per diluted share
* Fixed charge coverage ratio was 1.76x under the senior credit facility covenant versus a required minimum of 1.25x
Ashford Hospitality Trust is a self-administered real estate investment trust focused on investing in the hospitality industry across all segments and at all levels of the capital structure, including direct hotel investments, second mortgages, mezzanine loans and sale-leaseback transactions
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