Power3 Medical Products, Inc. (OTC.BB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, has signed a definitive agreement to acquire all of the stock of Rozetta-Cell Life Sciences, Inc. Power3 plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company in the merger. The acquisition of Rozetta-Cell is expected to be completed in October or November 2010.
Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally. Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.
Completion of the merger is subject to customary closing conditions, including receipt by the parties of all necessary board and shareholder approvals and third party consents. There can be no assurance that these conditions will be met or that the merger will be completed.
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Coinstar, Inc. (Nasdaq CSTR) subsidiary, Redbox, announced the company has signed agreements with EZ Mart Stores, Inc., Fastrac Markets, Murphy Express and VPS Convenience Store Group (Worsley Companies). The agreements will expand the redbox footprint to new convenience store locations in the Northeast, Southeast and Midwest.
Since launching its first convenience store location in 2006, redbox has increased channel presence to thousands of locations across 52 retail banners nationwide. Convenience stores featuring redbox kiosks include 7-Eleven, Circle K, Pantry, ExxonMobil, Kum & Go and Stripes, among others.
"The convenience store channel has played an important role in redbox's success and presents a great opportunity for future growth," said Mitch Lowe, president, redbox. "Our expanding convenience store presence makes renting and returning the latest DVD or Blu-ray Discs even easier for our consumers."
Each fully automated redbox kiosk holds 630 discs, representing up to 200 titles. Consumers simply use a touch screen to select their favorite movies, swipe a valid credit or debit card and go. For added convenience, customers can visit www.redbox.com to select their movie online or via the iPhone app from redbox and pick it up immediately at the redbox location of their choice.
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Coldwater Creek Inc. (Nasdaq:CWTR) reported financial results for the three- and six-month periods ended July 31, 2010.
Net sales were $253.5 million, compared with $225.2 million in the fiscal 2009 second quarter. Sales from the retail segment, which includes the Company's premium retail stores, outlet stores and day spa locations, were $195.4 million versus $183.4 million in the fiscal 2009 second quarter. Comparable premium store sales increased 4.8 percent in the second quarter versus the second quarter of fiscal 2009. Direct sales (internet and phone) increased 39.0% to $58.1 million from $41.8 million in the same period last year.
Gross profit for the fiscal 2010 second quarter was $84.7 million, or 33.4 percent of net sales, compared with $75.7 million, or 33.6 percent of net sales, for the fiscal 2009 second quarter. The 20 basis point decrease in gross profit margin was primarily due to increased promotional activity as compared to last year, which was partially offset by improvements in IMU and occupancy leverage.
Selling, general and administrative expenses ("SG&A") for the fiscal 2010 second quarter were $82.5 million, or 32.6 percent of net sales, compared with $82.8 million, or 36.8 percent of net sales, for the fiscal 2009 second quarter. The decline in SG&A as a percentage of net sales was driven primarily by leveraging of employee-related expenses, partially offset by a planned increase in marketing expense as compared to last year.
Net income for the three-month period was $1.5 million, or $0.02 per diluted share, compared with a net loss of $4.9 million, or $0.05 per share, for the three-month period ended August 1, 2009.
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Coleman Cable, Inc.(Nasdaq:CCIX), a leading manufacturer and innovator of electrical and electronic wire and cable products, reports second-quarter 2010 financial results.
Sales increased to $174.0 million, up 11.6 percent sequentially over the first quarter of 2010, and up 54.1 percent compared to the second quarter of last year;
Sales volume (measured in total pounds shipped) up 11.4 percent sequentially, and up 27.5 percent over last year;
Adjusted EPS of $0.23 per diluted share, compared to $0.12 sequentially, and a loss of $0.01 last year;
Adjusted EBITDA of $17.5 million, an increase of 17.8 percent sequentially, and up 57.7 percent compared to last year;
For third quarter of 2010, the Company estimates sales between $175 million and $185 million, Adjusted EBITDA between $16.5 million and $18.5 million, and Adjusted EPS between $0.19 and $0.26 per diluted share
Coleman Cable, Inc. is a leading manufacturer and innovator of electrical and electronic wire and cable products for the security, sound, telecommunications, electrical, commercial, industrial, and automotive industries. With extensive design and production capabilities and a long-standing dedication to customer service, Coleman Cable, Inc. is the preferred choice of cable and wire users throughout the United States.
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