Overland Storage Inc. (Nasdaq:OVRL) reported second quarter results for its fiscal quarter ended December 31, 2010. Eric Kelly, President and Chief Executive Officer of Overland Storage, said, "With the support of our channel partners worldwide, we are executing on our plan to increase sales of our higher margin branded products and services. Branded product sales grew 21.7% sequentially and total branded revenue is now 92.3% of total sales, up significantly from the prior quarter," said Kelly. "Additionally I was happy to report that our revenue, gross margin and operating expenses for the first half of FY 2011 were all within the guidance that we previously announced. In addition to achieving these financial objectives, we introduced a new SAN product line and a new NAS product into the marketplace as planned."
Overland Storage, Inc. provides data management and data protection solutions for backup and recovery systems worldwide.
Proper Power & Energy, Inc. (OTCBB:PPWE.OB)
Proper Power & Energy, Inc. is a Tampa-based independent oil and gas exploration and production company, has announced that it has been approached by two independent financing groups and has submitted a $10 million private placement memorandum to each of them. These two groups are seeking domestic oil and gas production in light of the Middle East tensions.
“The timing to acquire oil and gas properties while gas prices are low couldn’t be better. Additionally, the availability of this funding for developing Proper Power’s Kentucky and Utah oil prospects will accelerate 2011 revenues and leasehold acreage growth dramatically. We anticipate feedback from both of the financing groups before the end of this month,” stated Andrew J. Kacic, President of Proper Power & Energy.
Over the previous five years, earnings for the oil and natural gas industry have been aligned with U.S. manufacturing – averaging just 7 cents for every dollar of sales. Contrary to popular opinion and what some critics have said, America’s oil companies are not owned by a small group of wealthy investors. Only 1.5 percent of industry shares are owned by management of corporations. The remaining amount is owned by millions of Americans. Since 2000, the oil and natural gas industry has put around $1.7 trillion in U.S. capital projects to help all forms of energy move forward, including alternatives, while minimizing the industry’s environmental footprint. Between 2000 and 2008, the industry put in more than $58 billion
Proper Power & Energy is an independent exploration and production company. The Company’s operations are in Kentucky, which provides for low risk developmental drilling and production, and Utah, which the Company controls over 11,000 acres for its exploratory prospect. Renowned geophysicist and consultant to Proper Power, Robert Dunbar, believes the Utah prospect could hold up to one billion barrels of recoverable oil.
Please visit our website www.properpower.com
ADDvantage Technologies Group Inc. (Nasdaq:AEY) announced its results for the three month period ended December 31, 2010. Revenue for the three month period ended December 31, 2010 was $9.2 million compared to $10.2 million in the same period a year ago. Sales of new equipment were $6.5 million for the three months ended December 30, 2010 as compared to $6.6 million for the three months ended December 31, 2009. Net refurbished equipment sales were $1.4 million for the three months ended December 31, 2010 as compared to $2.3 million for the same period last year.
ADDvantage Technologies Group, Inc., through its subsidiaries, distributes cable television equipment and hardware to the cable television industry in North America, Central America, and South America.
EVCARCO, Inc. (OTC.BB:EVCA) announced today that it will be exhibiting the Company’s current green vehicle offerings at the Ft. Worth Auto Show, being held March 17th-20th at the Ft. Worth Convention Center and the Dallas Auto Show, being held on April 7th-10th at the Dallas Convention Center. EVCARCO’s exhibits will be located in the Green Exhibitor Section dedicated to eco-friendly products.
Mack Sanders, CEO of EVCARCO, stated, “The Ft. Worth and Dallas Auto Shows will provide an excellent opportunity for us to showcase our Company and our current green vehicle offerings. We look forward to visiting with the attendees and discussing out dealerships and vehicles.”
EVCARCO Inc. is the first automotive retail group dedicated to deploying a coast-to-coast network of environmentally friendly franchised dealerships and vehicles. EVCARCO is bringing to market the most advanced clean technologies available in plug-in electric, alternative fuel, and pre-owned hybrid vehicles.
For more information on EVCARCO, Inc., please view: www.evcarco.com
LookSmart, Ltd. (Nasdaq:LOOK) announced financial results for the fourth quarter and full year ended December 31, 2010. Revenues for the fourth quarter of 2010 were $9.9 million, compared to $12.8 million in the fourth quarter of 2009 and $11.3 million in the third quarter of 2010. Net income for the fourth quarter of 2010 was $0.1 million, or $0.01 per diluted share. This compares to a net loss for the fourth quarter of 2009 of $0.9 million, or ($0.05) per diluted share. Net income for the third quarter of 2010 was $0.7 million, or $0.04 per diluted share.
Looksmart, Ltd. operates as an online search advertising network Solution Company that provides solutions for search advertisers and publishers.
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