Posts Tagged ‘financials’

Newer Entries »

GreenHunter Energy Inc. (GRH) – Buzz Stock of the Day

Friday, August 14th, 2009

Shares of GreenHunter Energy, Inc.(NYSE amex: GRH) climbed more than 75 percent in morning trading Friday after the company reported improved second quarter results.

Including one-time items, GreenHunter reported earnings of $4.45 million, or $0.13 per-share on revenue of $1.7 million, compared to a net loss of $7.3 million in the same period a year ago. Excluding items, the company’s second quarter

“Our ability to negotiate the final settlement of substantial insurance claims as well as sell and monetize certain non-core assets has to-date provided sufficient working capital to keep our Company viable,” said GreenHunter’s chairman, president and CEO, Gary Evans.

For the six months ended June 30, 2009, GreenHunter reported a net loss of $4.3 million, or $0.20 per share, compared to a net loss of $15.6 million, or $0.79 per share for the six months ended June 30, 2008.

“Our Company has been in survival mode since late last year after the hurricane strike on our largest asset, our Houston biodiesel refinery, and the subsequent collapse of the financial markets,” Evans said in a statement.

The past 12 months have been turbulent for the Texas-based energy company. Last September, Hurricane Ike destroyed the company’s largest biodiesel refinery less than 60-days after it initiated operations. Falling fossil fuel prices have also weighed on the company’s revenue growth from the sales of its biodiesel products.

Despite the difficult market climate and recent setbacks, Evans was optimistic about GreenHunter’s current game plan and market opportunities. “We feel that we are methodically working through our very tight capital issues with a specific game plan that should allow for future opportunities within the renewable space,” he said.

GreenHunter Energy, Inc. works on wind, hydropower, geothermal solar and other renewable energy projects. It has the nation’s largest biodiesel refinery in Houston and a biomass-fired power plant in Brawley, Calif.

Tags: , , , , ,
Posted in Energy Stocks | No Comments »

Advocat, Inc. (AVCA) – Buzz Stock of the Day

Thursday, August 13th, 2009

Shares of healthcare facilities operator, Advocat, Inc.(NASDAQ: AVCA) surged nearly 17 percent in morning trading Thursday, after the company released second quarter earnings that beat analysts’ estimates.

The Tennessee-based company reported earnings of $937,000, or $0.15 per share, compared to $709,000, or $0.11 per-share for the same period a year ago. Revenue increased 7.3 percent to $76.1 million compared to a year ago.

Analysts had expected per share earnings of $0.14.

Highlights from the quarter included an increase of more than 75 percent in funds provided by operations, from $2.7 million in 2008 to $4.8 million in the second quarter of 2009. Facility also occupancy increased to 76.6 percent, from 74.7 percent in the same quarter last Advocat’s board also approved the payment of a $0.05 per share dividend commencing with the quarter ended June 30, 2009.

“We continue to record excellent comparable and sequential quarterly results in a difficult economy,” said Chief Executive Officer, William Council. “One of our most important measurements is funds provided from operations which were $4.8 million, a 75 percent increase over the 2008 comparable quarter.”

Seven of the company’s long-term nursing facilities recently received national recognition at the 2009 National Quality Awards by the American Healthcare Association (AHCA). AHCA looks at facilities that demonstrate at least a three-year track record of quality care, staff and residents’ satisfaction, and regulatory compliance.
With these awards, 37 of our 50 facilities have won National Quality Awards, with three winning Step II awards,” said Council. “We are very proud of the employees of these facilities for their commitment to quality performance.”

Advocat provides long term care services to patients in 50 skilled nursing centers, primarily in the Southeast and Southwest. It offers various non-institutional and institutional services, which include skilled nursing, ancillary health care services, and assisted living to the elderly, as well as rehabilitative, nutritional, respiratory, and other specialized ancillary services.

Tags: , , , ,
Posted in Health Care Stocks | No Comments »

Buzz Stock of the Day – Tree.com (TREE)

Friday, May 1st, 2009


Shares of our Buzz Stock of the Day — Tree.com, Inc. (Nasdaq: TREE) closed almost 40 percent higher todaya fter reporting positive earnings for the first quarter of 2009.

The Charlotte-based company, is the parent of several brands and businesses in the financial services and real estate industries including LendingTree(r), LendingTree Loans(sm), GetSmart(r), Home Loan Center, RealEstate.com, iNest(r), and RealEstate.com, REALTORS(r).


Tree.com, Inc. today reported Q1 earnings of $0.32 per diluted share on revenue of $57.3 million, compared with a net loss of $1.05 per share on revenue of $70.2 million in the same period a year earlier. Revenue for Q1 2009 increased 19 percent sequentially. The company generated EBITDA of nearly $8 million in Q1.

“While we are pleased to deliver positive earnings per share and sequential quarterly improvements in revenue, we continue to benefit from a declining mortgage rate environment,” said Tree.com’ CFO, Matt Packey. “We had concerns towards the middle of Q109, as we saw rates start to tick back up, that we would have to begin spending more heavily on marketing again. However, based on what we have experienced throughout April 2009, and in seeing various market forecasts for continued low rates through the end of 2009, we do not anticipate having to significantly increase our marketing expense to drive additional volume.”

As of March 31, 2009, Tree.com had $81.4 million in cash and cash equivalents compared to $73.6 million as of December 31, 2008. The key drivers behind the increase in cash included $7.9 in EBITDA that was generated, $1.9 million of cash received from the sale of restricted common stock, $3.6 million of positive net working capital changes and a $0.2 million increase related to a decrease in restricted cash. These increases were partially offset by a $4.2 million net cash outflow related to timing of the origination and sale of loans and warehouse line activity, as well as $1.6 million outflow for acquisition payments and capital expenditures in the quarter.

Tags: , , ,
Posted in Financial Stocks | No Comments »

Buzz Stock of the Day- First Niagara Financial Group (FNFG)

Tuesday, April 7th, 2009


There are a few bright spots in the battered banking industry.

Our Buzz Stock of the Day — First Niagara Financial Group, Inc. (Nasdaq: FNFG) is one of them.

The Pendleton, Niagara County-based company operates as the holding company of First Niagara Bank, and provides retail and commercial banking, and financial services to individuals, families, and businesses.

We like First Niagara Financial Group because generates operating cash flow, is well capitalized, and seems to be weathering the storm better than a lot of other regional banks.

“They did it the old-fashioned way, got the money first and then decided how to use it,” said Richard Weiss, director of banks and thrifts at Philadelphia-based investment firm Janney Montgomery Scott LLC.

The company’s stock has been pretty resilient as well — down about 17 percent over the past 52-weeks. First Niagara’s competitors including KeyCorp (-67 percent) and M&T Bank Corp. (-44 percent) haven’t been as lucky.

And if today’s announcement by First Niagara is an indication of things to come, we think this regional bank owner could be a good long-term play, as well as a daily Buzz Stock.

The company just announced that it signed a definitive agreement to acquire $4.2 billion of deposits and 57 Western Pennsylvania bank branches from National City Bank, a subsidiary of The PNC Financial Services Group for a deposit premium of 1.3 percent. FNFG said in addition to $3.2 billion in cash, the company will also receive approximately $839 million of performing business and consumer loans. Divestiture of these branches was a regulatory condition of PNC’s purchase of National City in December of 2008.

First Niagara enters the Pittsburgh region as the fourth-largest bank by deposits, acquiring a $3.35 billion share here, and fifth by branches, with 50. It also bought seven branches outside Pittsburgh but in two other metro areas in western Pennsylvania.

This marks the eighth acquisition by First Niagara over the past decade. Not including the western Pennsylvania additions, it currently has more than $9.3 billion in assets, 114 branches, 139 ATMs and 2,000 employees.

“This transaction enables us to strategically expand our franchise, leverage our strong financial position and enhance shareholder value,” First Niagara President and CEO John Koelmel said in a statement.

The acquisition is expected to close in September 2009, and add about 20 percent to the company’s earnings per share in 2010.

Tags: , ,
Posted in Financial Stocks | No Comments »

Newer Entries »