ModusLink Global Solutions, Inc. (NASDAQ:MLNK) designs and executes global value chain strategies to solve clients' cost, time-to-market, customer satisfaction and revenue objectives. Our supply chain, aftermarket, e-Business and entitlement management solutions support the end-to-end product lifecycles of the world's leading technology and consumer goods companies. ModusLink Global Solutions has more than 25 years of experience executing complex supply chain processes such as sourcing, configuration and fulfillment.
ModusLink Global Solutions?, Inc. yesterday reported financial results for its first quarter of fiscal year 2012 ended October 31, 2011. Financial Summary includes the following. Net revenue of $206.2 million, compared to $236.4 million in the first quarter of fiscal 2011. Gross margin as a percentage of revenue of 12.6%, compared to 9.5% in the first quarter of fiscal 2011. Operating income of $2.6 million, compared to operating loss of $2.7 million in the first quarter of fiscal 2011. Net income of $1.6 million, or $0.04 per share, compared to net loss of $6.7 million, or ($0.15) per share, in the first quarter of fiscal 2011. Non-GAAP operating income of $8.3 million, compared to $4.7 million in the first quarter of fiscal 2011. Free cash flow from operations of $3.5 million, compared to a cash use of $17.5 million in the first quarter of fiscal 2011.
For more information about ModusLink Global Solutions, please visit www.moduslink.com
ConocoPhillips (NYSE:COP) reported on the progress of its three-year strategic plan to improve returns and create value for its shareholders. The company also announced a 2012 capital program of $15.5 billion and a program to repurchase up to an additional $10 billion of the company's common stock. The company additionally provided an update on its $15-20 billion asset divestiture program for 2010-2012.
ConocoPhillips operates as an integrated energy company worldwide. The company?s Exploration and Production (E&P) segment explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids.
Entergy Corporation (NYSE:ETR) and ITC Holdings Corp. (NYSE:ITC) announced that the Boards of Directors of both companies have approved a definitive agreement under which Entergy will divest and then merge its electric transmission business into ITC.
Entergy Corporation, together with its subsidiaries, engages in electric power production and retail electric distribution operations in the United States.
The most conventional way in which biomass is used, however, still relies on direct incineration. Forest residues, for example (such as dead trees, branches and tree stumps), yard clippings, wood chips and garbage are often used for this. However, biomass also includes plant or animal matter used for production of fibers or chemicals. Biomass may also include biodegradable wastes that can be burnt as fuel. It excludes such organic materials as fossil fuels, which have been transformed by geological processes into substances such as coal or petroleum.
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure Cleantech Transit's ability to earn in 25% of the 500KW Merced Project. Cleantech Transit 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 approximately June 30th. As previously announced Cleantech Transit has the option to earn up to 40% of the Merced Project and Cleantech Transit plans to continue to work towards increasing its interest in the Merced Project as we move ahead.
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 that can maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy has to offer.
For more information about Cleantech Transit, please visit www.cleantechtransitinc.com.
Cliffs Natural Resources Inc. (NYSE:CLF) announced that it anticipates full-year 2012 production volume at the Company's Empire mine in Michigan to be approximately 2.7 million tons, down from 2011's full year expected production volume of approximately 4.6 million tons. The decrease is the result of planned blast furnace maintenance in 2012 at one of Cliffs' North American customer's facilities. This curtailment is not expected to impact the Company's previously announced sales and production volumes in its U.S. Iron Ore business segment.
Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore pellets, lump and fines iron ore, and metallurgical coal products.
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