American Video Teleconferencing Corp. (Pink Sheets:AVOT) is pleased to announce that it has hired a French speaking geologist to search the archives of the Quebec Department of Mines for Rare Earths showings not on a current computer file. The company believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings. As neither the Federal nor Quebec Governments have carried out any air borne surveys in this area, the company will seek a contractor to do an air borne Mag-EM radiometric survey. This survey will cover its present holdings and the immediate surrounding area looking for future acquisitions. We are pleased to be working in the Province of Quebec as it is rated the number one jurisdiction in the world to carry out mineral exploration. The Quebec Government gives a rebate up to 45% for property expenditures.
The world is currently dependent on China for its industrial and military requirements, and China is talking advantage of this need through the use of economic blackmail, by creating price increases and blocking shipments to create shortages.
America has allowed itself to be placed in a position where we are dependent on China for almost all of our goods, including military, though it wasn't a smart move, the question remains what have we as a nation learned if anything?
Now some companies are beginning to look into the Rare Earth Mineral needs of not only America, but the world, and this company; American Video Teleconferencing Corp. appears to have a real interest in making a difference, they are actively searching for these minerals.
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Iridium Communications Inc. (Nasdaq:IRDM) reported strong financial results for the third quarter of 2010 and updated its outlook for the full-year 2010.
IRDM’s third-quarter 2010 financial results reflect IRDM as compared to Iridium Holdings LLC (”predecessor”) for the comparable period in 2009.
Net income was $10.7 million for the third quarter of 2010, as compared to net income of $15.0 million for the comparable period of 2009. Net income for the third quarter of 2010 includes $12.3 million of non-cash expenses for purchase accounting adjustments, net of tax, related to GHL Acquisition Corp.’s acquisition of the predecessor, while the comparable period in 2009 had no purchase accounting adjustments.
Operational EBITDA (”OEBITDA”) for the third quarter was $47.1 million, as compared to $38.5 million for the prior-year period, representing year-over-year growth of 22 percent and an OEBITDA margin of 49 percent. OEBITDA benefited from solid growth in commercial service, government service and equipment revenue.
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Microsemi Corporation (Nasdaq:MSCC), a leading provider of semiconductor technology aimed at building a secure, smart, connected world, reported that its family of Plastic Large Area Device (PLAD)(tm) surface-mount transient voltage suppressors (TVS) enables avionics systems to meet new safety standards required for today’s carbon composite-skinned aircraft.
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JA Solar Holdings Co., Ltd., (Nasdaq:JASO), one of the world’s largest manufacturers of high-performance solar cells and solar power products, reported financial results for its third quarter 2010, ended Sept. 30, 2010.
– Record Q3 shipments of 418MW, above guidance of 375MW, an increase of 34% sequentially
– Record Q3 revenue of $541M, an increase of 52% over second quarter revenue
– Diversified global customer base: 53% international customers and 47% domestic customers
– Shipped one gigawatt of solar products in the first three quarters of 2010, above cumulative total historical shipment from company’s inception through 2009
– Q3 gross profit of $121.8 million and gross margin of 22.5%, exceeding guidance of 20%
– Q3 operating expenses of 4.1% of total revenue, below previous guidance of 6%
– Q3 operating income of $99.9 million and operating margin of 18.5%
– Record net income of $76.8 million and GAAP EPS of $0.47, an increase of more than 161% sequentially
– Strong balance sheet with cash balance of $309 million and working capital of $539 million
– Increasing annual shipment guidance to 1.45GW, compared with prior guidance of 1.35GW
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